Inseego Repurchases All of Its Outstanding Preferred Stock, Further Strengthening Capital Structure

Core Viewpoint - Inseego Corp. has successfully completed the repurchase of all outstanding Fixed-Rate Cumulative Perpetual Preferred Stock, Series E, in exchange for cash, common stock, and senior secured notes, aiming to simplify and strengthen its capital structure [1][4]. Financial Summary - The company retired 100% of the Preferred Stock, which had a liquidation preference of $42 million as of December 31, 2025, in exchange for $26 million of aggregate consideration, representing a 38% discount [2]. - The consideration consisted of $10 million in cash, $8 million in existing 9.0% Senior Secured Notes due 2029, and approximately 767,000 shares of common stock [2]. Payment Structure - The cash consideration will be paid in three equal installments: one-third at the Closing Date, one-third six months later, and the final one-third twelve months after the Closing Date [3]. Strategic Implications - The transaction is part of the company's strategy to reduce long-term obligations, improve the balance sheet, and enhance stockholder value [4]. - Mubadala Capital, the previous holder of the Preferred Stock, now holds a minority position in the company's common stock, indicating a shift in ownership structure [4]. Company Overview - Inseego Corp. is a leading provider of cloud-managed, wireless broadband connectivity solutions, focusing on 5G mobile broadband and Fixed Wireless Access (FWA) [5]. - The company has delivered over 10 generations of solutions that provide speed, security, and reliability for various sectors, including businesses and government agencies [5].