Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited)

v3.22.2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
mGage
Cowen Investments
Common Stock
Common Stock
mGage
Common Stock
Cowen Investments
Additional Paid-in Capital
Additional Paid-in Capital
mGage
Additional Paid-in Capital
Cowen Investments
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficict
Beginning balance at Dec. 31, 2020 $ (7,429)     $ 3     $ 93,628     $ (30,431) $ (2,826) $ (67,803)
Beginning balance, shares at Dec. 31, 2020       30,288,687           2,798,058    
Conversion of Note     $ 2,295           $ 2,295      
Conversion of Note, shares           303,171            
Forfeiture of 2020 Sponsors' Earnout Shares [1] 1,244           1,244          
Forfeiture of 2020 Sponsors' Earnout Shares, shares [1]       (469,343)                
Forward share purchase agreement transactions 17,528           17,528          
Stock-based compensation (RSUs) 10,329           10,329          
Stock-based compensation (RSUs), shares       935,115                
Proceeds from issuance of common stock in public offering, net of issuance costs 99,051     $ 1     99,050          
Proceeds from issuance of common stock in public offering, net of issuance costs, shares       8,400,000                
Common stock issued to sellers [2]   $ 18,832           $ 18,832        
Common stock issued to sellers, shares [2]         1,600,000              
Warrants exercised for common stock 2,872           2,872          
Warrants exercised for common stock, shares       249,706                
Fair value of warrants (326)           (326)          
Net loss (14,845)                     (14,845)
Other comprehensive (loss) income 522                   522  
Ending balance at Jun. 30, 2021 130,073     $ 4     245,452     $ (30,431) (2,304) (82,648)
Ending balance, shares at Jun. 30, 2021       41,307,336           2,798,058    
Beginning balance at Mar. 31, 2021 11,938     $ 3     122,252     $ (30,431) (1,725) (78,161)
Beginning balance, shares at Mar. 31, 2021       30,930,617           2,798,058    
Stock-based compensation (RSUs) 5,318           5,318          
Stock-based compensation (RSUs), shares       376,719                
Common stock issued to sellers [2]   $ 18,832           $ 18,832        
Common stock issued to sellers, shares [2]         1,600,000              
Proceeds from issuance of common stock in Private Investment in Public Equity offering, net of issuance costs 99,051     $ 1     99,050          
Proceeds from issuance of common stock in Private Investment in Public Equity offering, net of issuance costs, shares       8,400,000                
Net loss (4,487)                     (4,487)
Other comprehensive (loss) income (579)                   (579)  
Ending balance at Jun. 30, 2021 130,073     $ 4     245,452     $ (30,431) (2,304) (82,648)
Ending balance, shares at Jun. 30, 2021       41,307,336           2,798,058    
Beginning balance at Dec. 31, 2021 117,422                      
Net loss (29,009)                      
Other comprehensive (loss) income (2,525)                      
Ending balance at Jun. 30, 2022 104,902     $ 5     270,672     $ (30,431) (4,535) (130,809)
Ending balance, shares at Jun. 30, 2022       44,344,364           2,798,058    
Beginning balance at Mar. 31, 2022 110,380     $ 4     258,418     $ (30,431) (2,639) (114,972)
Beginning balance, shares at Mar. 31, 2022       42,361,833           2,798,058    
Stock-based compensation (RSUs) 12,255     $ 1     12,254          
Stock-based compensation (RSUs), shares       1,982,531                
Net loss (15,837)                     (15,837)
Other comprehensive (loss) income (1,896)                   (1,896)  
Ending balance at Jun. 30, 2022 $ 104,902     $ 5     $ 270,672     $ (30,431) $ (4,535) $ (130,809)
Ending balance, shares at Jun. 30, 2022       44,344,364           2,798,058    
[1]

On March 16, 2021, upon the final determination that GigAcquisitions, LLC, Cowen Investments II LLC (“Cowen”), Irwin Silverberg and Jeffrey Bernstein (the “Sponsors”) were not entitled to receive the final 50% of the Earnout Shares (“2020 Sponsors’ Earnout Shares”) pursuant to the terms of the Purchase Agreement entered into on February 22, 2019, such number of 2020 Sponsors’ Earnout Shares that did not vest were forfeited by all but one Sponsor. On March 26, 2021, that remaining Sponsor settled its portion of the 2020 Sponsors’ Earnout Shares in cash in lieu of forfeiting its shares.

[2]

On June 1, 2021, the Company completed its acquisition of mGage for a total purchase price of $ 218.0 million, consisting of both cash and common stock consideration. On August 30, 2021, the Company prepared and delivered to the Stockholder Representative a written statement (the “Post-Closing Statement”) setting forth the calculation of closing cash and closing net working capital which ultimately resulted in the final Merger consideration to be equal to $217.0 million, pursuant to the terms of the Merger Agreement. The original cash consideration amounted to $199.2 million of which $198.6 million was paid on June 1, 2021 and the remaining amount was settled through the period ended September 30, 2021. The original cash consideration was reduced by $997,000 due to a working capital adjustment. The common stock consideration was paid with the issuance to Vivial’s former equity holders of a total of 1,600,000 shares of Kaleyra common stock at $11.77 per share closing price of the Company’s common stock on the date of issuance, equal to $18.8 million.