---
schema_version: "secwatch.filing_event.v1"
accession: "0001505155-22-000071"
form_type: "8-K"
ticker: "UPLD"
cik: "0001505155"
company_name: "Upland Software, Inc."
filed_at: "2022-08-23T23:59:59+00:00"
generated_at: "2026-06-23T21:58:31.184970+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001505155-22-000071
- form_type: 8-K
- ticker: UPLD
- cik: 0001505155
- company_name: Upland Software, Inc.
- filed_at: 2022-08-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1505155/000150515522000071/0001505155-22-000071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1505155/000150515522000071/upld-20220823.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001505155-22-000071
- JSON: https://secwatch.observer/filing/0001505155-22-000071.json
- Plain text: https://secwatch.observer/filing/0001505155-22-000071.txt

## Key facts
- Executive change
  David Chung was appointed as director at Upland Software, Inc..
  - Action: appointed
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1505155/000150515522000071/0001505155-22-000071-index.htm

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