Cerence repurchases $27M of 3% convertible notes at 98.5% of par; terminates credit facility

Cerence Inc.

Repurchased $27M aggregate principal of 3% Convertible Senior Notes due 2025 at 98.5% of par plus accrued interest.
Plans to cancel repurchased notes and pay remaining $60.5M at maturity in June 2025 using cash on hand.
Intends to terminate undrawn $50M senior secured revolving credit facility after note repurchase.
Reaffirmed Q1 FY2025 and full-year FY2025 guidance issued on Nov 21, 2024.
CEO cites confidence in future; CFO highlights cash management and cost reduction.

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