Upland Software Inc., a leading cloud-based enterprise work management software provider, has commenced a process to establish a new incremental senior secured term loan B facility (the “Incremental Facility”) under its Credit Agreement, dated as of August 6, 2019, (the “Credit Agreement”) with, among others, Credit Suisse AG, Cayman Islands Branch, as Agent. The Incremental Facility is expected to be in an amount of approximately $150 million and will be in addition to the $350 million senior secured term loan B outstanding under the Credit Agreement and the $60 million senior secured revolving credit facility under the Credit Agreement. The availability, amount and terms of the potential new Incremental Facility are subject to negotiation with lenders.

About UPLAND SOFTWARE, INC. (NASDAQ:UPLD)

Upland Software Inc. is a provider of cloud-based enterprise work management software. The Company provides a family of cloud-based enterprise work management software applications for the information technology, process excellence, finance, professional services and marketing functions within organizations. Its software applications serve a range of enterprise work management needs, from strategic planning to task execution. It services customers ranging from corporations and Government agencies to small- and medium-sized businesses. Its customers operate in a range of industries, including financial services, retail, technology, manufacturing, education, consumer goods, media, and telecommunications, Government, food and beverage, healthcare and life sciences, chemicals and travel and hospitality. The Company provides a family of cloud-based enterprise work management software applications under the Upland brand.