Filing Details

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1	NAMES OF REPORTING PERSONS
	Classroom Aggregator, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)	☐
				(b)	☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			7,381,715
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			7,381,715
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	7,381,715
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)				☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	5.4%(1)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO

1	NAMES OF REPORTING PERSONS
	K5 Private Investors, L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)	☐
				(b)	☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			7,381,715
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			7,381,715
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	7,381,715
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)				☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	5.4%(1)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	PN

The Schedule 13D filed with the Securities and Exchange Commission on July 28, 2022 (the “Initial 13D”) by Classroom Aggregator, LLC and K5 Private Investors, L.P. (each, a “Reporting Person,” and collectively, the “Reporting Persons”) with respect to the shares of common stock, par value $0.0001 per share (“Common Stock”) of Kaltura, Inc., a Delaware corporation (the “Issuer”), is hereby amended as set forth below (the “13D/A”). Capitalized terms not defined herein have the meanings ascribed to them in the Initial 13D.

Item 4 is hereby supplemented with the addition of the following paragraphs at the end thereof:

Between June 23, 2023 and July 28, 2023, Classroom Aggregator sold in the aggregate 1,372,761 shares of Common Stock (collectively, the “Transactions”). The Transactions were comprised of various open market transactions at prices that ranged from $2.010 to $2.250 per share, inclusive. See Schedule I for additional information.  The proceeds of the Transactions were returned to the working capital of the Reporting Persons.

The Reporting Persons continue to engage in discussions with the Board and/or members of the Issuer’s management team concerning the possibility of future negotiations in connection with an acquisition of all or a controlling stake of the Issuer’s Common Stock or other strategic combination. However, as of the date hereof, no additional proposal has been submitted to the Board by Panopto or the Reporting Persons.

Items 5(a), 5(b) and 5(c) of the Initial 13D are hereby amended and restated in their entirety as follows:

(a) The following information is as of the date hereof and assumes there are 136,410,870 shares of Common Stock of the Issuer issued and outstanding as of May 1, 2023, as reported in the Issuer’s Form 10-Q filed on May 9, 2023.

Classroom Aggregator is the direct beneficial owner of 7,381,715 shares of Common Stock. The Common Stock held by Classroom Aggregator represents approximately 5.4% of the Common Stock outstanding as of the date of this Statement. K5 Private Investors may be deemed the indirect beneficial owner of the 7,381,715 shares of Common Stock directly held by Classroom Aggregator.

The filing of this Statement shall not be construed as an admission by either of the Reporting Persons or by K1 or K5 Capital that, for the purpose of Section 13(d) or 13(g) of the Exchange Act, any of the foregoing is the beneficial owner of any securities covered by this Statement.

(b) By virtue of the relationship among the Reporting Persons described in Item 2, each such Reporting Person may be deemed to share the power to vote or direct the vote and to share the power to dispose of or direct the disposition of the 7,381,715 shares of Common Stock as set forth in rows 7 through 13 of the cover pages of this Statement.

(c) Information concerning transactions in the shares of Common Stock effected by the Reporting Persons during the past sixty days is set forth in Schedule I hereto and is incorporated herein by reference.

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

[Signature Page to Schedule 13D/A]

TRANSACTIONS IN SHARES OF COMMON STOCK BY THE REPORTING PERSONS

The following table sets forth all transactions in the shares of Common Stock effected by each of the Reporting Persons in the past sixty days.  All such transactions were sales of shares of Common Stock effected in the open market, and the table is exclusive of commissions paid in per share prices. Where a price range is provided in the column titled “Price Range ($)”, the price reported in the column titled “Price Per Share ($)” is a weighted average price. These shares of Common Stock were sold or purchased in multiple transactions at prices between the stated price ranges indicated in the column titled “Price Range ($)”. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold or purchased at each separate price.

Trade Date		Reporting Person		Shares Sold		Price Range ($)		Price Per Share ($)
7/28/2023		Classroom Aggregator			20,598	2.010 – 2.020			2.010
7/27/2023		Classroom Aggregator			27,205	2.010 – 2.070			2.016
7/26/2023		Classroom Aggregator			400	2.050			2.050
7/25/2023		Classroom Aggregator			4,942	2.050 – 2.100			2.077
7/24/2023		Classroom Aggregator			35,754	2.050 – 2.100			2.086
7/21/2023		Classroom Aggregator			21,343	2.050 – 2.070			2.057
7/19/2023		Classroom Aggregator			14,167	2.080 – 2.090			2.082
7/14/2023		Classroom Aggregator			29,485	2.100 – 2.160			2.117
7/13/2023		Classroom Aggregator			63,708	2.115 – 2.160			2.143
7/12/2023		Classroom Aggregator			55,412	2.145 – 2.230			2.199
7/10/2023		Classroom Aggregator			117,064	2.150 – 2.250			2.199
7/7/2023		Classroom Aggregator			108,505	2.145 – 2.195			2.166
7/6/2023		Classroom Aggregator			59,482	2.105 – 2.150			2.120
7/5/2023		Classroom Aggregator			69,757	2.125 – 2.135			2.150
7/3/2023		Classroom Aggregator			80,288	2.125 – 2.170			2.139
6/30/2023		Classroom Aggregator			78,237	2.105 – 2.160			2.120
6/29/2023		Classroom Aggregator			29,141	2.100 – 2.150			2.111
6/28/2023		Classroom Aggregator			141,890	2.125 – 2.150			2.137
6/27/2023		Classroom Aggregator			96,522	2.150 – 2.160			2.151
6/26/2023		Classroom Aggregator			51,717	2.150 – 2.160			2.151
6/23/2023		Classroom Aggregator			267,144	2.100 – 2.165			2.103
Total					1,372,761	2.010 – 2.250			2.133

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