Home Companies News Nuance Announces $600 Million Offering of Senior Convertible Debentures
Nuance Announces $600 Million Offering of Senior Convertible Debentures
Companies - News
Written by Jenny Curtis   
Wednesday, 19 October 2011


Nuance Communications, Inc., the provider of optical character recognition and voice recognition technologies, is offering $600 million aggregate principal amount of senior convertible debentures which are due 2031.

The Debentures are offered to qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. The proceeds will be used for Concurrent Share Repurchases, Potential Acquisitions and General Corporate Purposes.

The initial purchasers will be granted a 30-day over-allotment option for the purchase of up to an additional $90.0 million aggregate principal amount of Debentures. The Debentures will be convertible into cash up to the principal amount of the Debentures and cash or shares of Nuance common stock. Other terms, such as the interest rate, the initial conversion price, as well as the redemption provisions will be determined by negotiations between the initial purchasers and Nuance. After November 6, 2017, Nuance may redeem the Debentures for cash at a price equal to the principal amount plus any unpaid interest.

The Debentures and the shares of common stock will not be registered under state securities laws, and if they are not registered, they may not be offered or sold in the United States.


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