LivePerson (NASDAQ: LPSN) has closed its offering of $517.5 million aggregate principal amount of 0% Convertible Senior Notes due 2026 in a private offering pursuant to Rule 144A under the Securities Act of 1933. The notes will have an initial conversion rate of 13.2933 shares of LivePerson common stock per $1,000 principal amount of the notes (subject to adjustment in certain circumstances). This is equivalent to an initial conversion price of approximately $75.23 per share and represents a premium of approximately 42.5% to the $52.79 per share closing price of LivePerson common stock on Dec. 1, 2020. LivePerson intends to use approximately $40.1 million of the proceeds to pay the cost of a capped call transaction that increased the conversion price to an approximately 100% premium. The company intends to use the remaining proceeds from the offering for general corporate purposes, which may include acquisitions or other strategic transactions. Roth Capital Partners (“ROTH”) acted as co-manager for the offering.
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About LivePerson Inc.
LivePerson makes life easier for people and brands everywhere through trusted conversational AI. The company’s 18,000 customers, including leading brands like HSBC, Orange, GM Financial, and The Home Depot, use its conversational solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. LivePerson was named to Fast Company’s World’s Most Innovative Companies list in 2020. For more information, please visit www.LivePerson.com.
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