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

SOURCE LivePerson, Inc.