Inseego Corp. announced the repayment of the remaining balance of approximately $15 million on its 3.25% convertible notes due 2025. This action represents a major milestone in the company's ongoing overhaul of its capital structure.
Chief Financial Officer Steven Gatoff stated that this repayment contributes to a total debt reduction of over $100 million, or approximately 75%, over the past 12 months. Following this, Inseego's primary outstanding debt is approximately $40.9 million in 9.0% secured notes due 2029.
The company also confirmed that its financial guidance for the first quarter of 2025 remained unchanged. This significant debt reduction places Inseego on solid financial footing, providing increased flexibility to invest in business growth and enhance stockholder value.
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