NEW
YORK, March 23, 2023 /PRNewswire/
-- LivePerson, a global leader in conversational AI, announced
today that it has repurchased approximately $157.5 million in aggregate principal amount of
its outstanding 0.75% Convertible Senior Notes due 2024 (the
"Notes"). In total, the Company paid approximately $149.7 million in cash through separate and
individually negotiated transactions with certain institutional
holders to retire the Notes. Following the closing of the
repurchase, approximately $72.5
million of the Notes will remain outstanding. In connection
with the Note repurchases, the Company expects to unwind a
proportional amount of the capped call options associated with the
Notes.
"Since we launched our 2022 plan to adopt a balanced approach to
profitability and growth, we have reduced our cost structure by
approximately $200M in annualized
costs," said John Collins, CFO of
LivePerson. "Consistent with this theme, repurchasing 68% of the
Notes at a considerable discount preserves capital and strengthens
our credit profile."
This press release does not constitute an offer to sell or a
solicitation to buy any of the Notes described herein, nor
shall there be any offer, solicitation, or sale of the Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About LivePerson
LivePerson (NASDAQ: LPSN) is a global
leader in Conversational AI. Hundreds of the world's leading brands
— including HSBC, Virgin Media, and Burberry — use our
Conversational Cloud platform to engage with millions of consumers
as personally as they would with one. We power nearly a billion
conversational interactions every month, providing a uniquely rich
data set to build connections that reduce costs, increase revenue,
and are anything but artificial. Fast Company named us the
#1 Most Innovative AI Company in the world. To talk with us or our
Conversational AI, please visit www.liveperson.com
Investor Relations Contact
ir-lp@liveperson.com
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SOURCE LivePerson, Inc.