Why LivePerson Stock Tanked Today

Why LivePerson Stock Tanked Today

Shares of LivePerson (NASDAQ: LPSN) tanked by 10% today after the company announced a proposed private offering of convertible senior notes. LivePerson is looking to raise $450 million in fresh capital from qualified institutional investors, who will also have an option to purchase an additional $67.5 million in notes. The offering has not yet priced, so key details such as the interest rate, conversion rate, and offering price have not been determined.