LivePerson Announces Pricing of Private Offering of $450 Million of 0% Convertible Senior Notes Due 2026

About this update from Liveperson, Inc.

[{"type":"text","content":"NEW YORK, Dec. 2, 2020 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\") announced today the pricing of $450.0 million aggregate principal amount of 0% Convertible Senior Notes due 2026 (the \"Notes\") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the \"Act\"). LivePerson also granted the initial purchasers of the Notes a 13-day option to purchase up to an additional $67.5 million aggregate principal amount of the Notes. The sale is expected to close on December 4, 2020, subject to customary closing conditions.\n\n \n \n \n \n \n \n\n \nThe Notes will be senior, unsecured obligations of LivePerson, will not bear regular interest, and the principal amount of the notes will not accrete. The Notes will mature on December 15, 2026, unless converted, repurchased or redeemed in accordance with their terms prior to such date. Prior to August 15, 2026, the Notes will be convertible at the option of holders only under certain circumstances, and thereafter, at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Notes may be settled in shares of LivePerson common stock, cash or a combination thereof, at the election of LivePerson.\nLivePerson may redeem all or any portion of the Notes, at its option, on or after December 20, 2023, at a cash redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus any accrued and unpaid interest to, but excluding the redemption date, if the last reported sale price of LivePerson common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date the notice of redemption is sent.\nIf LivePerson undergoes a fundamental change (as defined in the indenture governing the Notes), holders may require LivePerson to purchase for cash all or part of their Notes at a purchase price equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date. In addition, if the Company calls any or all of the Notes for redemption or certain make-whole fundamental changes o...

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