secwatch.observer — SEC 8-K summary
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Issuer:     LIVEPERSON INC (LPSN)
CIK:        0001102993
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001102993-24-000092
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000092/0001102993-24-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000092/lpsn-20240603.htm
  HTML page:      https://secwatch.observer/filing/0001102993-24-000092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer