Company: LPSN
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001102993-25-000108
Chunk: 109

Company: LIVEPERSON INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 for each trading day in a 50 trading day observation period, initially corresponding to 13.2933 shares of the Company’s common stock per $1,000 principal amount of 2029 Notes. The Company is not required to deliver its common stock upon conversion under any circumstances. The conversion rate for the 2029 Notes is subject to adjustment if certain events occur and contains customary anti-dilution protections. During the three and six months ended June 30, 2025, the conditions allowing holders of the 2029 Notes to convert were not met. 

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

The 2029 Notes, including the Delayed Draw Notes, are accounted for as a single liability, and the combined carrying amount is $178.7 million as of June 30, 2025, consisting of principal of $214.4 million, net of unamortized issuance costs of $6.8 million and debt discount of $28.8 million. The 2029 Notes were classified as long-term liabilities in the condensed consolidated balance sheets as of June 30, 2025. The remaining term over which the 2029 Notes’ debt issuance costs will be amortized is 4.0 years at an effective interest rate of 19.13% for the 2029 Notes (not including the Delayed Draw Notes) and 13.28% for the Delayed Draw Notes as of June 30, 2025.Unamortized debt issuance costs incurred in connection with securing the Company’s financing arrangements are presented in the condensed consolidated balance sheets as a direct deduction from the carrying amount of the outstanding borrowings, consistent with debt discounts. All deferred financing costs are amortized to interest expense. The net carrying amount of the liability component of the Notes as of June 30, 2025 and December 31, 2024 is as follows:June 30, 2025December 31, 20242026 Notes2029 NotesTotal2026 Notes2029 NotesTotal(In thousands)Principal$361,204 $214,374 $575,578 $361,204 $207,125 $568,329 Unamortized debt discount— (28,848)(28,848)— (31,137)(31,137)Unamortized issuance costs(2,040)(6,824)(8,864)(2,757)(7,365