Company: LPSN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001102993-25-000187
Chunk: 70

Company: LIVEPERSON INC
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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ation limiting the conversion of Series B Preferred Stock in a manner that would result in a holder 

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

beneficially owning (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder) in excess of 9.90% of the outstanding common stock (the “Beneficial Ownership Limitation”), then the Regular Dividend rate will be reduced to 0% beginning on the date of the Conversion and (b) if the Conversion has not occurred by September 12, 2026, the Regular Dividend rate will increase to 20.0%. Regular Dividends are payable on March 31, June 30, September 30 and December 31 of each year, commencing on December 31, 2025. Participating Dividends are payable as and when paid to holders of common stock. Any accrued cumulative dividends will reduce the income available to common shareholders for EPS purposes.RedemptionThe Series B Preferred Stock may be redeemed by the Company at any time at a price equal to 100% of the Stated Value, plus accrued and unpaid dividends.ConversionEach outstanding share of Series B Preferred Stock will automatically convert (the “Conversion”) into 58.2968 shares of common stock (the “Conversion Ratio”, and such shares of common stock, “Conversion Shares”) upon the satisfaction of all of the following conditions: •Approval by the holders of the Company’s voting stock of an amendment to the Company’s Fourth Amended and Restated Certificate of Incorporation (the “Stock Increase Charter Amendment”) to increase the number of authorized shares of common shares (the “Stock Increase Charter Amendment Proposal”);•Adoption of the Stock Increase Charter Amendment Proposal by the Company’s board of directors; and•Filing and acceptance of the Stock Increase Charter Amendment by the Secretary of State of Delaware. Liquidation PreferenceIn the event of any Fundamental Transaction (as defined in the Certificate of Designation) or voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company (a “Liquidation Event”), holders of the Series B Preferred Stock shall be entitled, out of assets legally available therefor, before any distribution or payment out of the assets of the Company may be made to or set aside for the holders of any junior stock, including the common stock, and subject to the rights of the holders of any senior stock