Upland Software Shares Climb After Securing $240 Million Refinancing Deal

Shares of Upland Software Inc. (NASDAQ:UPLD) rose 3.6% after the company announced a major debt refinancing package, securing a $240 million term loan with Sound Point Capital that extends its debt maturity timeline through 2031.

The new six-year loan will be used to refinance Upland’s existing obligations, with the agreement also providing a $30 million revolving credit line to bolster overall liquidity. Upland, which specializes in AI-driven knowledge and content management software, said the new structure gives it added financial room to grow.

“We’re pleased to complete this new credit facility with Sound Point Capital, their speed and certainty throughout this process was a differentiator,” said Jack McDonald, Upland’s CEO and Chairman. “This refinancing enhances our financial flexibility, allowing us to invest further in our AI-powered knowledge and content management software solutions.”

Sound Point Capital, which led the refinancing, emphasized the strategic fit. Andrew Eversfield, Co-Head of Sound Point Direct Lending, said the firm’s platform provided “the optimal solution for Upland Software’s next phase of growth.”

Legal counsel for the transaction included Morrison & Foerster LLP for Upland Software and Paul Hastings LLP for Sound Point Capital.

Investors appeared to welcome the refinancing news, as reflected in Monday’s share price increase. The extended debt maturity, combined with the added credit capacity, positions Upland for enhanced financial stability through the end of the decade.

Upland Software stock price

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