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News  ›  GlobeNewswire Inc.

Cerence Announces Repurchase of $30 Million of 1.50% Convertible Senior Notes Due 2028

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Na
Cerence Announces Repurchase of $30 Million of 1.50% Convertible Senior Notes Due 2028

Cerence Inc. announced the repurchase of $30 million in principal amount of its 1.50% Convertible Senior Notes Due 2028 at 92% of par value. The company plans to use this strategic move to reduce interest expense, eliminate refinancing dilution, and lower leverage. With $180 million in Notes remaining until 2028 maturity, Cerence will continue evaluating market conditions for potential additional repurchases.

Insights
CRNC   positive

The company is taking proactive steps to strengthen its balance sheet by repurchasing debt at a discount (92% of par), which reduces future interest expense and refinancing risk. This demonstrates financial discipline and confidence in cash generation, benefiting shareholders through lower leverage and reduced dilution.