---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-171803"
form_type: "8-K"
ticker: "CRNC"
cik: "0001768267"
company_name: "Cerence Inc."
filed_at: "2023-06-22T23:59:59+00:00"
generated_at: "2026-06-13T19:12:57.088767+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cerence prices $190M 1.50% convertible notes due 2028, repurchases $87.5M of 2025 notes

## Summary
- $190M principal, 1.50% coupon, due July 1, 2028; conversion price ~$40.72 (22.5% premium over $33.24 close).
- Net proceeds ~$184.1M ($203.6M if overallotment exercised); closing expected June 26, 2023.
- Uses ~$102M to repurchase $87.5M of 3.00% 2025 notes; remaining repays ~$106.8M term loan.
- May borrow up to $24.7M under revolving credit if overallotment not fully exercised.

## SEC filing metadata
- accession: 0001193125-23-171803
- form_type: 8-K
- ticker: CRNC
- cik: 0001768267
- company_name: Cerence Inc.
- filed_at: 2023-06-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768267/000119312523171803/0001193125-23-171803-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768267/000119312523171803/d507049d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-171803
- JSON: https://secwatch.observer/filing/0001193125-23-171803.json
- Plain text: https://secwatch.observer/filing/0001193125-23-171803.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.