Adeia Successfully Completes Debt Repricing

Core Viewpoint - Adeia Inc. has successfully repriced its Term Loan B, resulting in reduced future interest expenses and increased financial flexibility for the company [1][2]. Financial Impact - The repricing lowers the applicable interest rate on the remaining balance of approximately $561.1 million by about 61 basis points, leading to an estimated annual cash interest expense reduction of approximately $3.4 million [1][3]. - The new interest rate is set at SOFR + 300 basis points, with the fixed interest rate component lowered and the credit spread adjustment eliminated [3]. Debt Management - Since its separation, the company has paid down nearly $200 million of its debt, demonstrating a strong cash-generative business model [2]. - The mandatory excess cash flow payment thresholds have been revised, with 50% at a net leverage ratio above 1.75x, 25% between 1.75x and 1.25x, and 0% below 1.25x [3]. Company Overview - Adeia Inc. is a leading R&D and intellectual property licensing company that accelerates the adoption of innovative technologies in the media and semiconductor industries [4]. - The company's innovations underpin technology solutions that shape the future of digital entertainment and electronics, impacting millions of people globally [4].