LivePerson, Inc. (NASDAQ: LPSN) announced a binding agreement on August 11, 2025, to exchange $341.1 million principal amount of its Convertible Senior Notes due 2026. This transaction involves a mix of $45.0 million in cash, $115.0 million of 10.0% Second Lien Senior Subordinated Secured Notes due 2029, and common and preferred equity representing 39.0% of the company's fully diluted common stock.
CFO and COO John Collins stated that this exchange successfully culminates a multi-year strategy to deleverage the balance sheet. The transaction captures $181 million of debt discount, deleverages the balance sheet by $226 million, and critically extends LivePerson's debt maturities through 2029.
This move is expected to shift a greater proportion of enterprise value to shareholders and provides the company with a clear runway to execute its strategy. The New Secured Notes will accrue interest at 10.0% per annum and will be secured by a second-priority lien on substantially all company assets.
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