Nuance Announces Redemption of 2.75% Senior Convertible Debentures due 2031
February 05 2020 - 4:01PM
Nuance Communications, Inc. (NASDAQ: NUAN) today announced that it
has issued a notice of redemption for all $46.568 million
outstanding principal amount of its 2.75% Senior Convertible
Debentures due 2031 (CUSIP No. 67020Y AF7) (the “Securities”) on
March 11, 2020 (the “Redemption Date”). The redemption price for
the Securities is equal to 100% of the principal amount of the
Securities to be redeemed, plus accrued and unpaid interest to, but
not including, the Redemption Date.
The Securities may be converted at any time before 5:00 p.m.
Eastern Time on March 10, 2020, the business day prior to the
Redemption Date, in accordance with the terms and conditions set
forth in the Securities indenture and the Securities.
The redemption is being made solely pursuant to Nuance’s Notice
of Redemption dated February 5, 2020, which will be delivered to
the holders of the Securities by U.S. Bank National Association,
the trustee under the Securities indenture. This press release does
not constitute a notice of redemption of the Securities. More
details can be found in the Company’s Current Report on Form 8-K,
which was filed today with the U.S. Securities and Exchange
Commission.
“In line with our focus on disciplined capital allocation, this
represents a further step to strengthen our capital structure,
while maintaining a strong cash balance,“ said Dan Tempesta, Chief
Financial Officer.
About Nuance Communications, Inc. Nuance
Communications (NASDAQ: NUAN) is the pioneer and leader in
conversational AI innovations that bring intelligence to everyday
work and life. The company delivers solutions that understand,
analyze, and respond to people – amplifying human intelligence to
increase productivity and security. With decades of domain and AI
expertise, Nuance works with thousands of organizations globally
across healthcare, financial services, telecommunications,
government, and retail – to empower a smarter, more connected
world. For more information, please visit www.nuance.com.
Trademark reference: Nuance and the Nuance logo are registered
trademarks or trademarks of Nuance Communications, Inc. or its
affiliates in the United States and/or other countries. All other
trademarks referenced herein are the property of their respective
owners.
Safe Harbor and Forward-Looking Statements
Statements in this document regarding future performance and our
management’s future expectations, beliefs, goals, plans or
prospects constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words “believes,” “plans,” “anticipates,”
“expects,” "intends" or “estimates” or similar expressions) should
also be considered to be forward-looking statements. There are a
number of important factors that could cause actual results or
events to differ materially from those indicated by such forward-
looking statements, including but not limited to: the effects of
competition, including pricing pressure, and changing business
models in the markets and industries in which we operate;
fluctuations in demand for our existing and future products;
changes to economic, political, and regulatory conditions in the
United States and internationally; our ability to attract and
retain key personnel; further unanticipated costs resulting from
our FY17 malware incident including potential costs associated with
governmental investigations that may result from the incident; our
ability to control and successfully manage our expenses and cash
position; potential future cybersecurity and data privacy incidents
or breaches; our ability to comply with applicable domestic and
international laws and policies; fluctuating currency rates;
possible quality issues in our products and technologies; our
ability to realize anticipated synergies from acquired businesses,
to cut stranded costs related to divested businesses, and to
capture the expected value from strategic transactions including
the spin-off of our Automotive business; and the other factors
described in our most recent Form 10-K, Form 10-Q and other filings
with the Securities and Exchange Commission. We disclaim any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this document.
Contact Informationformation
Tracy Krumme SVP, Investor
Relations
Nuance
Communications
Tel : (781)
565-4334
E-mail: Tracy.Krumme@nuance.com
Nuance Communications (NASDAQ:NUAN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nuance Communications (NASDAQ:NUAN)
Historical Stock Chart
From Apr 2023 to Apr 2024