Upland Software Announces the Successful Completion of Debt Refinancing

Upland Software, Inc. (Nasdaq: UPLD) (the “Company” or “Upland Software”), a leader in AI-powered knowledge and content management software, today announced that it has entered into an agreement with private credit direct lender Sound Point Capital to refinance its existing debt with a new $240 million, six-year term loan, extending the maturity of its debt to 2031. The new credit agreement also includes a $30 million revolving credit facility, further enhancing the Company’s financial liquidity.

“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, Chief Executive Officer and Chairman of Upland Software. “This refinancing enhances our financial flexibility, allowing us to invest further in our AI-powered knowledge and content management software solutions and drive long-term value for our customers and shareholders.”

“Sound Point Capital’s one-stop lending platform was the optimal solution for Upland Software’s next phase of growth and we’re excited to support management and HGGC in their vision,” said Andrew Eversfield, Co-Head of Sound Point Direct Lending.

Morrison & Foerster LLP acted as legal advisor to Upland Software, and Paul Hastings LLP acted as legal advisor to Sound Point Capital.