Company: LPSN
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0001102993-25-000154
Chunk: 0

Company: LIVEPERSON INC
Filing Date: 2025-09-15
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

As previously disclosed, on August 11, 2025, LivePerson, Inc. (the “Company”) entered into a privately negotiated exchange agreement (the “ Original Exchange Agreement”) with holders (the “Noteholders”) of approximately $341.1 million in aggregate principal amount the Company’s outstanding 0% Convertible Senior Notes due 2026 (the “2026 Notes”). On September 11, 2025, the Company and the Noteholders entered into Amendment No. 1 to the Exchange Agreement (the “ Exchange Agreement Amendment”, and the Original Exchange Agreement as so amended, the “Exchange Agreement”), dated as of September 11, 2025, to clarify that the term “fully-diluted” assumes the full conversion of the Series B Preferred Stock (as defined below).

Pursuant to the Exchange Agreement, on September 12, 2025 (the “Closing Date”), the Company consummated an exchange (the “Exchange”) of the $341.1 million in aggregate principal amount of 2026 Notes held by the Noteholders for (i) an aggregate payment of $45.0 million in cash, (ii) $115.0 million in aggregate principal amount of the Company’s 10.0% Second Lien Senior Subordinated Secured Notes due 2029 (the “ New Secured Notes”), (iii) 53,333,947 shares (the “ Common Equity Shares”) of the Company's common stock, par value $0.001 (the “Common Stock”) and (iv) 26,551 shares of Series B Fixed Rate Convertible Perpetual Preferred Stock, par value $0.001 (“ Series B Preferred Stock”).

In connection with the Exchange, the Company expects to unwind a portion of the capped call options associated with the aggregate principal amount of 2026 Notes exchanged.

Second Lien Senior Subordinated Secured Notes due 2029

The New Secured Notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of September 12, 2025, by and among the Company, the subsidiary guarantors party thereto and U. S. Bank Trust Company, National Association, as trustee (the “ Trustee”) and collateral agent (the “Collateral Agent”). The New Secured Notes are guaranteed on a senior subordinated basis by certain of the Company’s direct and indirect domestic and foreign subsidiaries (the