Synchronoss Technologies Inc Stock Price, News & Analysis

Synchronoss Technologies (NASDAQ: SNCR) has announced an update to its spatialSUITE 8.6, which enhances network design and asset management for fiber and HFC networks. This version introduces two new products: spatialINSIGHT, designed for complex network management, and spatialOFFICE, a real-time collaboration tool. The updates aim to meet the growing demand for bandwidth, improving planning and efficiency in network operations. The comprehensive suite is available both on-premise and as a SaaS offering, promoting integration with existing systems.

Synchronoss Technologies (NASDAQ: SNCR) announced the appointment of Martin Bernstein to its Board of Directors, effective immediately. His appointment follows the company's recent recapitalization and represents the largest shareholder, B. Riley Financial. Bernstein brings extensive experience in capital allocation and corporate governance, which is expected to aid Synchronoss in achieving its strategic growth objectives. He expressed enthusiasm for the company's potential and emphasized a focus on innovation and value creation for stakeholders.

Synchronoss Technologies (NASDAQ: SNCR) announced successful public offerings totaling approximately $235 million and a private placement raising $75 million on June 30, 2021. The public offerings included 42.3 million shares of common stock at $2.60 per share and $125 million in senior notes due 2026. The net proceeds, about $300 million, will refinance the company’s capital structure, redeem outstanding preferred shares, and repay credit facility debts. Ratings of BB- were assigned to the notes, which will trade under SNCRL.

Synchronoss Technologies has announced a public offering of $125 million in 8.375% senior notes due 2026, including an additional $5 million from underwriters. The offering, set to close by June 30, 2021, is rated BB- by Egan-Jones Ratings. Proceeds will be utilized to redeem Series A Preferred Stock and repay revolving credit. Concurrently, Synchronoss is offering $100 million of common stock and has a $75 million private transaction for Series B Preferred Stock. The notes are expected to trade under symbol 'SNCRL' on Nasdaq.

Synchronoss Technologies (SNCR) announced the issuance of restricted stock and stock option awards to four newly hired employees as inducement equity awards, compliant with Nasdaq Listing Rule 5635(c)(4).

A total of 4,125 time-based restricted stock awards and 1,375 time-based stock option awards were granted. Each grant will vest 25% annually over four years, subject to continuous service. This initiative highlights Synchronoss' commitment to attracting talent and fostering growth.

Synchronoss Technologies (SNCR) announced a public offering of 38,461,538 shares at $2.60 each, aiming for gross proceeds of $100 million. The funds will be used to redeem Series A Convertible Preferred Stock and pay off outstanding amounts under its revolving credit facility. The offering is expected to close around June 29, 2021, pending customary conditions. Concurrently, the company plans to offer $120 million in senior notes due 2026 and has an agreement to sell $75 million in Series B Preferred Stock. B. Riley Securities is the lead underwriter.

Synchronoss Technologies, Inc. (SNCR) plans to offer $120 million in senior notes due 2026, with an additional $5 million possible. The funds will be used to redeem Series A Preferred Stock and repay revolving credit facility debts. The notes received a BB- rating from Egan-Jones Ratings Company. Concurrently, the Company will offer $100 million in common stock and $75 million in Series B Preferred Stock. The offering is underwritten by B. Riley Securities, Inc., with terms filed with the SEC.

Synchronoss Technologies announced a public offering of $100 million in common stock, with a 30-day underwriter option for an additional $10 million. The funds will redeem all Series A Preferred Stock and repay debt. Concurrently, the company is offering $120 million in senior notes due 2026 and selling $75 million of Series B Preferred Stock. The offerings are managed by B. Riley Securities. The completion and terms of the offerings are subject to market conditions.

Synchronoss Technologies (NASDAQ: SNCR) announced a CFO transition, with David Clark stepping down on August 9, 2021, to pursue personal interests. This decision is not related to the company's financial performance. The company reaffirmed its 2021 guidance, initially provided on May 10, 2021. Clark has contributed to improving operational controls and financial governance during his tenure since August 2018. An executive search for his successor is underway, and Clark will assist during the transition.