Progress Software Corporation (NASDAQ: PRGS), a company that provides enterprise software products for the development, deployment, and management of high-impact business applications, closed on March 1, 2024 a private offering of US$450 million aggregate principal amount of 3.50% Convertible Senior Notes due 2030 to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, which included the full exercise of the initial purchasers’ option to purchase an additional US$50.0 million aggregate principal amount of the Notes. Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York/Los Angeles partner Greg Rodgers and New York partner Erika Weinberg, with associates Ryan Gold, Claire Solimine, Abid Ahmed, Sabrina Singh, and Ilan Lavian*. Advice was also provided on tax matters by New York partner Bora Bozkurt; on intellectual property matters by New York counsel Carrie Girgenti, with associate Dewey Kang; on data privacy matters by Bay Area partner Robert Blamires, with associates Kathryn Parsons-Reponte and Priyanka Krishnamurthy; and on equity derivatives matters by New York partner Catherine Lee and New York counsel Christopher Yu, with associate Hera Liao. *Admitted to practice in New York only.~~