Capital Structure Management

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United Community Banks, Inc. Announces Redemption of All Oustanding Shares of 6.875% Series I Non-Cumulative Perpetual Preferred Stock
Globenewswire· 2025-08-15 11:30
Core Viewpoint - United Community Banks, Inc. is redeeming all outstanding shares of its 6.875% Series I Non-Cumulative Perpetual Preferred Stock on September 15, 2025, as part of its active capital management strategy [1][2]. Group 1: Redemption Details - The cash redemption price is set at $25,000 per share of Preferred Stock, equivalent to $25 per Depositary Share, with a total aggregate liquidation preference of $88 million to be redeemed using cash on hand [1][2]. - The redemption will occur simultaneously with the payment of a previously declared dividend to holders of record on the redemption date [2]. - A total of 3,661,650 Depositary Shares will be redeemed, each representing a 1/1000th interest in a share of the Preferred Stock, with dividends ceasing to accrue after the redemption date [2][3]. Group 2: Company Overview - United Community Banks, Inc. is a top 100 U.S. financial institution with $28.1 billion in assets as of June 30, 2025, operating 200 offices across several states [4]. - The company offers a full range of banking, mortgage, and wealth management services and has been recognized for customer satisfaction and as one of the best banks to work for [4]. - United has received multiple awards, including five 2025 Greenwich Best Brand awards and consistent recognition from Forbes as one of the World's Best and America's Best Banks [4].
Inseego Repays $15 million in Remaining Convertible Notes due 2025
Globenewswire· 2025-05-01 20:05
Core Viewpoint - Inseego Corp. has successfully completed a significant milestone in its capital structure management by paying off approximately $15 million in convertible notes due 2025, which contributes to a substantial reduction in the company's overall debt [1][2]. Debt Management - The pay-off of the 2025 Convertible Notes marks a key initiative to materially reduce the company's debt, with total debt reduced by over $100 million, or approximately 75%, over the past 12 months [2]. - Following the pay-off, Inseego has approximately $40.9 million in outstanding debt from its new senior 9.0% secured notes due in 2029 [1]. Financial Guidance - The company has confirmed that there is no change to its financial guidance for the first quarter of 2025, which ended on March 31, 2025, and will report its financial results on May 8, 2025 [2]. Company Overview - Inseego Corp. is recognized as a leader in 5G Enterprise cloud WAN solutions, serving millions of end customers and thousands of enterprise and SMB customers with its 4G, 5G, and cloud platforms [3]. - The company's 5G Edge Cloud integrates advanced 5G technology with cloud networking features and intelligent edge applications, enhancing business operations and securing enterprise data [3].