Upland closes $115M Series A convertible preferred issuance to HGGC affiliate; appoints David Chung to board

Upland Software, Inc.

Issued 115,000 shares of Series A Convertible Preferred at $1,000/share to HGGC affiliate for aggregate $115M.
Proceeds for general corporate purposes and transaction fees.
Preferred stock carries 4.5% annual dividend (7% after 7 yrs), convertible at $17.50 per share.
Board expanded to six; David Chung (HGGC Partner) appointed as Class II director.
Registration rights agreement requires shelf registration within 60 days.

item 1.01 item 3.02 item 3.03 item 5.02 item 5.03 item 9.01

Executive movements

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Appointed

David Chung

Director

UPLD · Upland Software, Inc.

Effective: 2022-08-23
Filed: August 23, 2022, 7:59 PM ET

the Purchaser nominated David Chung to serve on the Board, and Mr. Chung was appointed to the Board on August 23, 2022 effective upon the Closing.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Chung was appointed as director at Upland Software, Inc..

Action: appointed

Exact text from the filing

the Purchaser nominated David Chung to serve on the Board, and Mr. Chung was appointed to the Board on August 23, 2022 effective upon the Closing.

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Upland Software, Inc. filing history →

Source: SEC EDGAR

accession 0001505155-22-000071

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