Nuance Communications, Inc. (NASDAQ:NUAN) has priced an offering of USD 350m aggregate principal amount of its 1.25% senior convertible notes due 2025 (the “notes”) in a private placement, the company said.
The sale is expected to close on March 17, 2017, subject to satisfaction of customary closing conditions.
Nuance has granted the initial purchasers a 13-day option to purchase up to an additional USD 60m aggregate principal amount of notes on the same terms and conditions to cover over-allotments, if any. Interest on the notes will be paid at a rate of 1.25% per year, payable in cash semi-annually in arrears, beginning on October 1, 2017. The notes will mature on April 1, 2025, unless earlier repurchased or converted.
The notes will be convertible, subject to the satisfaction of certain conditions, into cash up to the principal amount of such notes and, with respect to any excess conversion value, into cash or shares of Nuance common stock or a combination thereof, at Nuance´s election.
Nuance Communications, Inc. (NASDAQ: NUAN) provides voice and language solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with devices and systems. Every day,ms of users and thousands of businesses experience Nuance´s proven applications. For more information, please visit www.nuance.com.