Nuance Announces Redemption of 2.75% Senior Convertible Debentures due 2031
BURLINGTON, Mass., Feb. 05, 2020 (GLOBE NEWSWIRE) -- 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.
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