secwatch.observer — SEC 8-K summary
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Issuer:     LIVEPERSON INC (LPSN)
CIK:        0001102993
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001102993-24-000082
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LivePerson exchanges $146M 2026 notes for $100M new notes, gets $100M new capital commitment from Lynrock
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- Exchange of $145.96M 2026 convertible notes for $100M new 2029 senior secured notes reduces debt by ~$46M.
- Lynrock commits $100M new capital: $50M at closing plus $50M delayed draw within six months.
- Warrants issued for ~11% of fully diluted shares at $0.75 strike, 10-year term.
- New notes carry 10.83% interest (cash+PIK), stepping up to 13% after Dec 2026; secured by substantially all assets.
- Financial covenant requires minimum $60M cash; Lynrock gets board observer rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000082/0001102993-24-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000082/lpsn-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001102993-24-000082

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