Adeia Successfully Completes Second Debt Repricing in Past 8 Months

SAN JOSE, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations enhance billions of devices and shape the way the world explores and experiences entertainment, today announced the successful repricing of its Term Loan B, thereby reducing its future interest expense. The repricing lowers the applicable fixed interest rate by 50 basis points on the company’s Term Loan B remaining balance of approximately $487.1 million. The new interest rate is SOFR + 250 basis points. There is no change to the original June 2028 maturity date and all other terms remain substantially unchanged. The company estimates that repricing will reduce the annual cash interest expense by approximately $2.4 million.

Read more at globenewswire.com