Cerence announces repurchase of $27 million of 3% senior notes due 2025

Burlington, mass., dec. 23, 2024 (globe newswire) -- cerence inc. (nasdaq: crnc) (“cerence ai” or “the company”), a global leader in ai for transportation, today announced that, in light of its current cash position and outlook for future cash generation, the company entered into privately negotiated transactions with certain holders of its 3.00% convertible senior notes due 2025 (the “notes”), pursuant to which the company agreed to repurchase approximately $27 million aggregate principal amount of the notes from such holders at a cash repurchase price equal to 98.5% of their principal amount, together with the accrued and unpaid interest to (but not including) the date of repurchase.
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