LivePerson completes $150M debt exchange with Lynrock, issues secured notes and warrants

LIVEPERSON INC

Exchanged $145.957M of 0% 2026 notes for $100M of new First Lien Convertible Notes due 2029 plus $50M in new cash.
Interest rate starts at 10.83% (4.17% cash, 6.66% PIK) and increases to 13% after Dec 2026.
Issued 10-year warrants with $0.75 strike price for ~11% of common stock (8.9% share-settled, 2.1% cash-settled).
Indenture requires minimum cash balance of $60M and prohibits cash dividends on common stock.
Noteholder gets governance rights if owning at least $50M notes or 4.99% of common stock.

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