Exhibit 99.1
GigCapital, Inc. Completes Acquisition of Global CPaaS Provider, Kaleyra S.p.A.
Kaleyra to Begin Trading on the NYSE American Stock Exchange under the Ticker “KLR” and
Will Host the Opening Bell Ceremony on Tuesday, November 26, 2019
Palo Alto, Calif., USA and Milan, Italy – November 25, 2019—GigCapital, Inc. (NYSE: GIG, GIG.U, GIG.RT, and GIG.WS) (“GigCapital”), a Technology, Media, and Telecom (TMT)Private-to-Public Equity (PPE)™ corporation, today announced the closing of its previously announced combination with Kaleyra S.p.A., a rapidly growing cloud communications software provider delivering secure application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market. The combination was approved by 98.1%, of GigCapital’s stockholders voting at GigCapital’s special meeting of stockholders held on November 22, 2019.
Initiation of Trading on the NYSE American and Opening Bell Ceremony
As part of the transaction combining GigCapital and Kaleyra S.p.A., the Company’s name will be changed to Kaleyra, Inc. (the “Company” or “Kaleyra”). With the combination being closed today, GigCapital, Inc. shares will cease trading on the NYSE, and Kaleyra, Inc. shares will begin trading effective November 26, 2019 on the NYSE American, under the ticker symbol “KLR”, where they are being listed for trading. In celebration of the combination and initiation of Kaleyra’s public trading, members of the Kaleyra and GigCapital management teams will ring the NYSE Opening Bell at 9:30 a.m. Eastern time on November 26, 2019. The event can be viewed live athttps://livestream.com/ICENYSE/KaleyraIPOWebcast2019 or on the NYSE’s website athttps://www.nyse.com/bell. Photos and video of the bell ringing will also be available via Facebook and Twitter @NYSE.
Dario Calogero, Kaleyra’s Founder who retains his position as Chief Executive Officer of the Company after the closing of the transaction, commented, “These are exciting times for Kaleyra. We now enter the public company marketplace, which will provide means to further expand and accelerate our growth plans of our highly secure, regulatory compliant and integrated mobile communications platform. Our robust engineering and new product development teams will be driving our growth initiatives. With nearly 50% of our workforce focused on these two functions, we are well positioned as a preferred partner in the CPaaS segment for both small- andmedium-sized businesses and larger enterprises. I am confident in or plans for continued advanced product development efforts and global market expansion, both organically and through consolidation. To support these plans, we will broaden our marketing and sales footprint to address opportunities, particularly in the large North American market.”
Kaleyra is at the forefront of the dramatic shift in the telecom services market from the traditional hardware-centric marketplace approach to software and CPaaS. The Company has a global presence with a diverse base of 3,000 customers around the world and, while the majority of its customers span Europe, APAC, the Middle East and Latin America, with strong presence in the financial and banking industry, Kaleyra believes there is an opportunity for future revenue expansion particularly in the US market.