OneSpan Inc. (OSPN): restructuring charge — OneSpan revises restructuring cost estimate down to $13-15M from prior $15-20M

OneSpan Inc.

Restructuring charges now estimated at $13-15M, down from prior $15-20M.
Workforce-related charges $11-12M; vendor-related charges $2-3M.
Approximately $9M incurred in 2023; workforce completion expected by mid-2024, vendor by end of 2025.
Charges excluded from Adjusted EBITDA; actions aimed at operational efficiency and higher Adjusted EBITDA.

item 2.05

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

OneSpan Inc. announced a restructuring with charges of $13 million to $15 million.

Type: restructuring
Charge: $13 million to $15 million

Exact text from the filing

The Company now estimates that it will incur from $13 million to $15 million in total restructuring charges associated with the Actions (the “Total Expected Charges”), as compared to its preliminary estimate of $15 million to $20 million set forth in the Original 8-K.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

OneSpan Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-008570

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