Latham & Watkins Advises on Cerence Inc.’s Offering of $190 Million Convertible Senior Notes

Cerence Inc. (NASDAQ: CRNC), a global, premier provider of AI-powered assistants and innovations for connected and autonomous vehicles, has announced the pricing of $190.0 million aggregate principal amount of 1.50% convertible senior notes due 2028 in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In connection with the offering, Cerence granted the initial purchasers an option to purchase up to an additional $20.0 million aggregate principal amount of notes. The sale of the notes to the initial purchasers is expected to close on June 26, 2023, subject to customary closing conditions.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by partners Greg Rodgers and Benjamin Cohen, with associates Ryan Gold, Ian Lachow, and Emma Gilmore. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Fangyuan (Farrah) Yan.