Inseego restructures ~$125M of convertible notes: repurchase, loan, and exchange transactions

INSEEGO CORP.

Bought back $45.9M face value of 3.25% convertible notes from Highbridge at 30% discount for $32.1M cash.
Entered $19.5M secured loan facility at 12% annual interest, maturing Sept 30, 2024, with 6-month extension option.
Exchanged $80M face value of notes from North Sound and Golden Harbor for 2.4M shares, $31.8M new 9% notes due 2029, and 1.5M warrants at $12.12/share.
Director Stephanie Bowers resigned; 21,551 RSUs accelerated vesting.

item 1.01 item 2.03 item 3.03 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Stephanie Bowers

Director

INSG · INSEEGO CORP.

Effective: 2024-06-30
Filed: July 1, 2024, 7:59 PM ET

On June 30, 2024, Stephanie Bowers resigned as a member of the board of directors (the “Board”) of the Company, including from her position on the Nominating and Corporate Governance Committee, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephanie Bowers resigned as Director at INSEEGO CORP..

Action: resigned
Role: Director

Exact text from the filing

On June 30, 2024, Stephanie Bowers resigned as a member of the board of directors (the “Board”) of the Company, including from her position on the Nominating and Corporate Governance Committee, effective immediately.

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INSEEGO CORP. filing history →

Source: SEC EDGAR

accession 0001683168-24-004550

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