Inseego Completes $180 million Issuance of Convertible Senior Notes

May 14, 2020

San Diego – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Inseego Corp. (Nasdaq: INSG), a pioneer in 5G and intelligent IoT device-to-cloud solutions, in an underwritten public offering (the “Offering”) of $100.0 million in aggregate principal amount of the Company’s 3.25% Convertible Senior Notes due 2025 (the “Notes”). Inseego has granted the underwriters a 30-day option to purchase up to an additional $15.0 million in aggregate principal amount of the Notes, solely to cover over-allotments. In addition to the Offering, Inseego issued $80.0 million of the Notes in concurrent private placement transactions pursuant to separate privately-negotiated exchange agreements with certain of its stockholders (the “Private Exchange Transactions”).

Inseego intends to use the net proceeds from the Offering to repay its existing credit agreement, to pay the cash consideration due in connection with the Private Exchange Transactions and for general corporate purposes.

Corporate partner Teri O'Brien led the Paul Hastings team, which also included partner Joyce Xu, senior associate Melissa Garcia, of counsel James Shea and Diona Park, attorney Catherine Patton and associates Tyler Dodge and Philip Cernera.

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