Inseego (INSG) has issued an update.
Inseego Corp. has initiated a debt reduction strategy by restructuring approximately $125 million or 80% of its outstanding convertible notes due in 2025. They have repurchased $45.9 million of these notes at a 30% discount from Highbridge Capital Management, financed partly through a new $19.5 million loan. Furthermore, they have agreed to exchange the remaining notes with their largest noteholders for a mix of new long-term debt and equity. These financial maneuvers aim to strengthen the company’s capital structure and reduce long-term debt obligations.
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