Legal Software Services Firm KLDiscovery to Restructure Debt

KLDiscovery Inc. reached an agreement in principle with lenders to restructure its debt, according to a Thursday statement.

• The deal provides for a conversion of the company’s $260.9 million outstanding convertible notes due 2024 into 96% of the company’s common equity
• It also extends the maturity of a term loan from 2026 to 2027
• Deal is expected to close in the near term
• KLDiscovery provides software for eDiscovery, information governance, and data recovery for clients such as law firms and government agencies
• The company suffered recurring losses from operations and earlier stated that substantial doubt exists about the company’s ability ...