Not sure where you get your numbers but the 1st Qtr will show excellent growth in fact the best recurring revenues in the companies history due to the first full qtr and intro of the iPhone 6 by customer Pegatron which may be the reason for any decline in the 2nd qtr.
But a new deal with Huawei or someone else will probably offset those declines. IDCC and Huawei are currently in arbitration which is expected to conclude at anytime with a license deal.
Directors resignations no idea maybe the new Chairman of Board wants a new team when he starts in June.
My best guess as to why they borrowed the money is to replace the old debt with lower cost debt 1.5 versus 2.5 plus since they are both convertibles the raised the convert price from the mid 50's to 72 but the stock actually has to trade at 94 for a month for the convert to work. Plus they have anti dilution options involved.
My guess also they may think they will have an opportunity to make a cheap acquisition so they want the money ready.
They also got GS and Cowen involved in this issue which will give them exposure on WS they previously didn't have. I wouldn't be surprised by either firm initiating coverage.