Inseego Corp. (Nasdaq: INSG), a pioneer in 5G and intelligent IoT device-to-cloud solutions, has announced that it has agreed to sell an aggregate of USD 100.0 million in principal amount of its 3.25% convertible senior notes due 2025 (the “Notes”), in an underwritten public offering (the “Offering”), the company said.
The Company has granted the underwriters a 30-day option to purchase up to an additional USD 15.0 million in aggregate principal amount of the Notes in connection with the Offering, solely to cover over-allotments. The Offering is expected to close on May 12, 2020, subject to customary closing conditions.
The Notes will be senior unsecured obligations of the Company and will bear interest at a fixed rate of 3.25% per year, payable semi-annually in arrears on May 1 and November 1 of each year, commencing on November 1, 2020.
Inseego Corp. (Nasdaq: INSG) is an industry pioneer in 5G and intelligent IoT device-to-cloud solutions that enables high performance mobile applications for large enterprise verticals, service providers and small-medium businesses around the globe.