KORE Group Holdings, Inc. (KORE): M&A transaction — KORE closes acquisition of Twilio's IoT business; issues 10M shares

KORE Group Holdings, Inc.

Transaction closed on June 1, 2023; KORE issued 10 million shares of common stock to Twilio as consideration.
Issued shares represent approximately 11.5% of KORE's outstanding common stock.
KORE granted equity inducement awards to 18 new employees for up to 1,760,268 shares (time- and performance-based RSUs).
Acquisition positions KORE as first IoT hyperscaler, adding 'Build' to its Deploy, Manage, Scale proposition.

item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

KORE Group Holdings, Inc. completed an acquisition involving Twilio Inc. (closed 2023-06-01).

Action: acquisition
Counterparty: Twilio Inc.
Closing: 2023-06-01

Exact text from the filing

As previously disclosed, on March 26, 2023, KORE Group Holdings, Inc., a Delaware corporation (“ KORE ”), entered into a Purchase Agreement (the “ Purchase Agreement ”) with Twilio Inc. (“ Twilio ”), whereby KORE agreed to purchase, or to cause one or more of its subsidiaries to purchase, subject to the satisfaction or waiver of the conditions set forth therein, the “internet of things” business of Twilio, through the purchase of certain assets, including certain technology and intellectual property rights, and the assumption of certain liabilities, of Twilio and certain of its subsidiaries (the “ Transaction ”).

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KORE Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-159882

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