Kalray Unveiled a Proposed Asset Disposal and Update on Financial Situation

Kalray (Euronext Growth Paris: ALKAL) announces that it has received a non-binding letter of intent to acquire the assets of its ‘Data Acceleration Platform’ activity and provides an update on its financial situation.

Kalray has announced a general review of its strategic options, including the possibility of asset disposals.

In this context, Kalray has received a non-binding letter of intent to acquire its ‘Data Acceleration Platform’ activity (comprising the Ngenea product line, marketed to large corporations). The financial and legal audits are in progress. Subject to the final agreement of the parties on the terms of the transaction, the signing of the final contracts, which would be announced by press release, should take place by mid-February 2025. Completion of the asset sale would be subject to the usual conditions.

Kalray draws investors’ attention to the fact that ongoing negotiations may or may not lead to completion of the transaction. The Company believes that, assuming completion at the beginning of 2025, taking into account other ongoing discussions with strategic partners and suppliers, Kalray’s financing horizon, currently estimated at March 1st, 2025, subject to compliance with cash flow forecasts (including 3rd-party payments ), would remain potentially unchanged.

This proposed disposal will not enable the Group to achieve its profitability target by the end of 2025. In view of its financial situation, Kalray will therefore continue to study opportunities for the disposal of all or part of its other assets and the most appropriate legal framework for their implementation.

Kalray will continue to keep the market informed of developments concerning the planned transaction(s).