Inseego Repays $15 million in Remaining Convertible Notes due 2025
Inseego Corp. (INSG) has announced the repayment of approximately $15 million in remaining 3.25% convertible notes due 2025, marking a significant milestone in its capital structure management. Over the past 12 months, the company has reduced its total debt by over $100 million, representing a 75% reduction. Following this repayment, Inseego's outstanding debt consists of approximately $40.9 million in principal amount of new senior 9.0% secured notes due in 2029.
The company maintained its previously announced financial guidance for Q1 2025 and will report its first quarter financial results on May 8, 2025.
Inseego Corp. (INSG) ha annunciato il rimborso di circa 15 milioni di dollari relativi alle obbligazioni convertibili residue al 3,25% con scadenza nel 2025, segnando un traguardo importante nella gestione della struttura del capitale. Negli ultimi 12 mesi, la società ha ridotto il proprio debito totale di oltre 100 milioni di dollari, pari a una diminuzione del 75%. Dopo questo rimborso, il debito residuo di Inseego consiste in circa 40,9 milioni di dollari di importo principale di nuove obbligazioni senior garantite al 9,0% con scadenza nel 2029.
L'azienda ha confermato le previsioni finanziarie precedentemente comunicate per il primo trimestre 2025 e pubblicherà i risultati finanziari del primo trimestre l'8 maggio 2025.
Inseego Corp. (INSG) ha anunciado el reembolso de aproximadamente 15 millones de dólares correspondientes a los bonos convertibles restantes con un interés del 3,25% y vencimiento en 2025, marcando un hito importante en la gestión de su estructura de capital. En los últimos 12 meses, la compañía ha reducido su deuda total en más de 100 millones de dólares, lo que representa una reducción del 75%. Tras este reembolso, la deuda pendiente de Inseego consiste en aproximadamente 40,9 millones de dólares en el principal de nuevos bonos senior garantizados al 9,0% con vencimiento en 2029.
La empresa mantuvo su guía financiera anunciada previamente para el primer trimestre de 2025 y reportará sus resultados financieros del primer trimestre el 8 de mayo de 2025.
Inseego Corp. (INSG)는 2025년에 만기되는 3.25% 전환사채 약 1,500만 달러를 상환했다고 발표했으며, 이는 자본 구조 관리에 있어 중요한 이정표입니다. 지난 12개월 동안 회사는 총 부채를 1억 달러 이상 감축하여 75%의 감소를 기록했습니다. 이번 상환 이후, Inseego의 미상환 부채는 2029년 만기인 새로운 9.0% 담보 선순위 채권의 약 4,090만 달러 원금으로 구성됩니다.
회사는 2025년 1분기 재무 가이던스를 이전에 발표한 대로 유지하며, 2025년 5월 8일에 1분기 재무 실적을 보고할 예정입니다.
Inseego Corp. (INSG) a annoncé le remboursement d'environ 15 millions de dollars des billets convertibles restants à 3,25 % arrivant à échéance en 2025, marquant une étape importante dans la gestion de sa structure de capital. Au cours des 12 derniers mois, la société a réduit sa dette totale de plus de 100 millions de dollars, soit une diminution de 75 %. Après ce remboursement, la dette en cours d'Inseego se compose d'environ 40,9 millions de dollars de principal de nouveaux billets garantis seniors à 9,0 % arrivant à échéance en 2029.
L'entreprise a maintenu ses prévisions financières annoncées précédemment pour le premier trimestre 2025 et publiera ses résultats financiers du premier trimestre le 8 mai 2025.
Inseego Corp. (INSG) hat die Rückzahlung von rund 15 Millionen US-Dollar an ausstehenden 3,25% wandelbaren Schuldverschreibungen mit Fälligkeit 2025 angekündigt, was einen bedeutenden Meilenstein im Management der Kapitalstruktur darstellt. Innerhalb der letzten 12 Monate hat das Unternehmen seine Gesamtschulden um über 100 Millionen US-Dollar reduziert, was einer Verringerung um 75 % entspricht. Nach dieser Rückzahlung bestehen die ausstehenden Schulden von Inseego aus etwa 40,9 Millionen US-Dollar Nennbetrag neuer vorrangiger besicherter Schuldverschreibungen mit 9,0 % Verzinsung und Fälligkeit 2029.
Das Unternehmen bestätigte seine zuvor angekündigten Finanzprognosen für das erste Quartal 2025 und wird die Finanzergebnisse des ersten Quartals am 8. Mai 2025 veröffentlichen.
- Significant debt reduction of over $100 million (75%) in the past 12 months
- Complete repayment of $15 million convertible notes due 2025
- Improved financial position with reduced debt burden
- Remaining $40.9 million debt carries higher interest rate at 9.0% compared to previous 3.25%
Company completes key capital structure management milestone in paying off remaining balance of approximately
SAN DIEGO, May 01, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG) (the “Company”), a global leader in wireless broadband, including 5G mobile broadband, and 5G fixed wireless access (FWA) solutions, today announced that it has completed a major milestone in its overhaul of the Company’s capital structure by paying-off the remaining balance of approximately
After the pay-off of the 2025 Convertible Notes, the Company has outstanding debt of approximately
“The pay-off of the 2025 Convertible Notes represents the successful completion of a key initiative and milestone to materially reduce our debt,” said Steven Gatoff, Inseego’s Chief Financial Officer. “Over the past 12 months, we have reduced the Company’s total debt by over
The Company also announced today that there was no change to its financial guidance for the first quarter of 2025, ended March 31, 2025 (which was provided on February 19, 2025). The Company will be reporting its first quarter 2025 financial results on May 8, 2025, as previously announced on April 17, 2025.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is the industry leader in 5G Enterprise cloud WAN solutions, with millions of end customers and thousands of enterprise and SMB customers on its 4G, 5G, and cloud platforms. Inseego’s 5G Edge Cloud combines the industry’s best 5G technology, rich cloud networking features, and intelligent edge applications. Inseego powers new business experiences by connecting distributed sites and workforces, securing enterprise data, and improving business outcomes with intelligent operational visibility---all over a 5G network. For more information on Inseego, visit www.inseego.com #Putting5GtoWork
©2025. Inseego Corp. All rights reserved. MiFi and the Inseego name and logo are registered trademarks of Inseego Corp. Other company, product, or service names mentioned herein are the trademarks of their respective owners.
For more information, please contact:
Investor Relations
IR@inseego.com
Cautionary Note Regarding Forward-Looking Statements
Some of the information presented in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as “may,” “estimate,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “will” and similar words and phrases indicating future results. The information presented in this news release related to our future business outlook, the future demand for our products, and other statements that are not purely historical facts are forward-looking. These forward-looking statements are based on management’s current expectations, assumptions, estimates, and projections. They are subject to significant risks and uncertainties that could cause results to differ materially from those anticipated in such forward-looking statements. We, therefore, cannot guarantee future results, performance, or achievements. Actual results could differ materially from our expectations.
Factors that could cause actual results to differ materially from the Company’s expectations include: (1) the Company’s dependence on a small number of customers for a substantial portion of our revenues; (2) the future demand for wireless broadband access to data and asset management software and services and our ability to accurately forecast; (3) the growth of wireless wide-area networking and asset management software and services; (4) customer and end-user acceptance of the Company’s current product and service offerings and market demand for the Company’s anticipated new product and service offerings; (5) our ability to develop sales channels and to onboard channel partners; (6) increased competition and pricing pressure from participants in the markets in which the Company is engaged; (7) dependence on third-party manufacturers and key component suppliers worldwide; (8) the impact of fluctuations of foreign currency exchange rates; (9) the impact of supply chain challenges on our ability to source components and manufacture our products; (10) unexpected liabilities or expenses; (11) the Company’s ability to introduce new products and services in a timely manner, including the ability to develop and launch 5G products at the speed and functionality required by our customers; (12) litigation, regulatory and IP developments related to our products or components of our products; (13) the Company’s ability to raise additional financing when the Company requires capital for operations or to satisfy corporate obligations; (14) the Company’s plans and expectations relating to acquisitions, divestitures, strategic relationships, international expansion, software and hardware developments, personnel matters, and cost containment initiatives, including the satisfaction of the conditions precedent to the planned sale of the Company’s telematics business, as well as restructuring activities and the timing of their implementations; (15) the global semiconductor shortage and any related price increases or supply chain disruptions, (16) the potential impact of COVID-19 or other global public health emergencies on the business, (17) the impact of high rates of inflation and rising interest rates, (18) the impact of import tariffs on our materials and products, and (19) the impact of geopolitical instability on our business.
These factors, as well as other factors set forth as risk factors or otherwise described in the reports filed by the Company with the SEC (available at www.sec.gov), could cause results to differ materially from those expressed in the Company’s forward-looking statements. The Company assumes no obligation to update publicly any forward-looking statements, even if new information becomes available or other events occur in the future, except as otherwise required under applicable law and our ongoing reporting obligations under the Securities Exchange Act of 1934, as amended.
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