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What Happened to KLDiscovery?
Ticker: KLDISPAC Year: 2019
Return
-99.9%
Current Price
$0.1
Peak Price
$27
Trust Size
$609M
Summary
KLDiscovery is an e-discovery and information governance company that provides data processing, hosting, and review services for legal matters. The company went public via SPAC merger with Pivotal Investment Corporation III in 2019.
What Happened
Pivotal Investment Corporation III merged with KLDiscovery in 2019. The e-discovery company has struggled with an accumulated deficit of $394 million and negative cash flow, raising going-concern doubts. KLDiscovery faces a looming debt repayment and has been delisted from major exchanges. While technically not bankrupt, the company is in severe financial distress.
Timeline
2019-01-11
S-1 Registration Filed
2024-12-03
Last SEC Filing