Restructuring / Recapitalization – Kuwait Financial Express http://www.kuwaitfinancialexpress.com Thu, 01 Feb 2024 08:15:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 MGA Entertainment Establishes Four Subsidiaries to Support its Fast Growing International Business in the European Union http://www.kuwaitfinancialexpress.com/?p=309626/ Thu, 01 Feb 2024 08:15:00 +0000 http://www.kuwaitfinancialexpress.com/?p=309626 LOS ANGELES, Feb. 01, 2024 (GLOBE NEWSWIRE) — MGA Entertainment, Inc. (MGA), one of the largest and fastest growing privately held toy and entertainment companies in the world, announced today it has established four wholly–owned subsidiaries in the European Union (EU) to support its fast growing international business. The four subsidiaries – MGA Toys Iberia S.L. (led by Managing Director Mila Gonzalez), MGA Entertainment Greece (led by Managing Director Panos Kalogeropoulos), MGA Entertainment Italy SRL (led by Managing Director Andrea Signorelli), and MGA Toys France (led by Managing Director Thierry Thivolle) – will support marketing and sales administration efforts, staffed by employees who have worked for MGA Entertainment in each of the markets, now employees of their respective subsidiary in the same roles. This move demonstrates the company’s commitment to growing its businesses in those markets and to its international business overall. 

“Our business outside of the U.S is strong and increasingly important to MGA Entertainment. Establishing these new subsidiaries will allow us to grow our business more quickly in these important markets,” said MGA Entertainment Founder & CEO Isaac Larian. “I look forward to working closely with the teams in each of these markets to continue to bring new, innovative, and fun MGA toys and products to consumers across the EU.”  

MGA previously announced its plans to merge with Zapf Creation AG, Europe’s leading manufacturer of nurturing dolls. MGA’s wholly–owned German subsidiary has entered into negotiations of a merger agreement which is expected to close in late Spring 2024.

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About MGA, Entertainment, Inc.
MGA Entertainmentis one of the largest and fastest growing privately held toy and entertainment companies in the world. Headquartered in Los Angeles with offices globally, the company creates innovative, proprietary, and licensed consumer products and entertainment properties, including toys, games, dolls, apparel, consumer electronics, home décor, stationery, sporting goods, movies, and television series. The MGA family includes award–winning brands such as L.O.L. Surprise!™Little Tikes®, Rainbow High™Bratz®MGA’s Miniverse™Fluffie Stuffiez™Na! Na! Na! Surprise™, Micro Games of America™, BABY born®, and Zapf Creation®. For more information, please visit us at www.mgae.com or check us out at LinkedIn, ThreadsInstagram and Facebook

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Classic Parade gibt seine Gründung als britische Limited bekannt http://www.kuwaitfinancialexpress.com/classic-parade-gibt-seine-grundung-als-britische-limited-bekannt/ Tue, 28 Mar 2023 18:05:15 +0000 http://www.kuwaitfinancialexpress.com/?p=307221 LONDON, March 28, 2023 (GLOBE NEWSWIRE) — Nach 20 Jahren in Familienbesitz wird Classic Parade, ein Hypercar–Vermieter in London, mit sofortiger Wirkung zu einer Limited Company, die von Investoren aus Katar finanziell untersttzt wird.

Dieser Schritt resultiert aus einer strategischen Geschftsentscheidung, sich auf das Wachstum auerhalb des Vereinigten Knigreichs zu konzentrieren. Zurzeit bietet Classic Parade Luxus–Hypercar–Vermietungen im ganzen Vereinigten Knigreich an, aber mit der erneuten Investition seiner neuen Eigentmer will das Unternehmen zum Premium–Hypercar–Vermieter in ganz Europa werden. Kein anderer Anbieter von Luxus–Superautos bedient einen so groen geografischen Bereich in der Region; Classic Parade wird der erste sein.

Das bestehende Fahrzeugportfolio ist umfangreich und umfasst bekannte Marken in der Luxusfahrzeugbranche wie Ferrari, McLaren, Rolls Royce, Porsche, Audi und andere. Ein Mietvertrag kann innerhalb von nur 24 Stunden abgeschlossen werden, so dass Sie im Vereinigten Knigreich bereits am nchsten Tag ein Hypercar mieten knnen. Mit den gleichen Dienstleistungen, die in ganz Europa angeboten werden sollen, wird Classic Parade seine Flotte erweitern, um die Nachfrage seines wachsenden Kundenstamms zu erfllen. Alle verfgbaren Fahrzeuge finden Sie auf der Website von Classic Parade. Hier ist ein Einblick in die Flotte von Classic Parade:

  • Ferrari SF90 Stradale: Der Ferrari SF90 Stradale hat eine beeindruckende Leistung von 986 PS. Mit seiner krftigen roten Farbe ist er heute eines der begehrtesten Fahrzeuge.
  • McLaren Speedtail: Die schnittige Karosserie dieses Fahrzeugs bietet Aerodynamik und seine 1050 PS sind fr viele Kunden ein Argument dafr, es anzumieten.
  • Lamborghini Sian: Mit einem Tagesmietpreis von 6000 GBP liegt dieses Modell in der Spitzengruppe der verfgbaren Lamborghinis. Er hat 808 PS und schafft es von 0–100 km/h in 2,8 Sekunden.
  • Porsche 918 Spyder: Bei einem Preis von 3500 GBP pro Tag knnen Fahrer die Fhigkeit des Porsche 918 Spyder testen, in 2,2 Sekunden von 0–100 km/h zu kommen.

Es gibt verschiedene Preiskategorien fr die Anmietung von Supercars, wobei fr jeden Vertrag eine Kaution hinterlegt werden muss. Wenn das Fahrzeug in gutem Zustand an Classic Parade zurckgegeben wird, wird die Kaution an den Kunden zurckerstattet. In jedem Vertrag ist eine Selbstfahrer–Vermietungsversicherung fr 2 Fahrer enthalten, wobei die Fahrer mindestens 25 Jahre alt sein mssen, um die von Classic Parade gemieteten Fahrzeuge zu fahren.

Classic Parade expandiert schrittweise und wird Sie informieren, sobald der Service an den Standorten in Europa aufgenommen wird. Sobald diese Standorte in Betrieb sind, werden sie einen 24–Stunden–Service und Lieferungen an jedem Tag der Woche anbieten knnen.

Ein weiterer Service, der Kunden in ganz Europa zur Verfgung stehen wird, ist das "Try Before You Buy"–Programm, das potenzielle Kufer Zugang zu den Fahrzeugen ermglicht, fr die sie sich interessieren, bevor sie diese Fahrzeuge endgltig kaufen. Bevor Sie in ein teures Fahrzeug investieren, knnen die Kunden von Classic Parade das gleiche Luxusfahrzeug fr eine beliebige Zeitspanne fahren. Flexible Mietbedingungen und mageschneiderte Preispakete machen dies mglich.

Wer einen Supercar von Classic Parade im Vereinigten Knigreich mieten mchte, kann sich an rent@classicparade.co.uk oder +44 (0) 333 355 3595 wenden. An anderen Standorten ist die Vermietung derzeit nicht mglich, aber wenn sich das ndert, finden Sie hier Aktualisierungen. Das Team von Classic Parade steht Ihnen 24 Stunden, 7 Tage die Woche zur Verfgung, um Fragen zu beantworten oder die Details der Supercar–Vermietung fr Kunden im Vereinigten Knigreich zu klren.

Ein Foto zu dieser Mitteilung finden Sie unter https://www.globenewswire.com/NewsRoom/AttachmentNg/e320844d–7478–4095–83aa–44c56e95cb84

Kontakt
Classic Parade
+44 (0) 333 355 3595
rent@classicparade.co.uk


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Classic Parade anuncia a sua incorporação como uma empresa LTD http://www.kuwaitfinancialexpress.com/classic-parade-anuncia-a-sua-incorporacao-como-uma-empresa-ltd/ Tue, 28 Mar 2023 18:05:15 +0000 http://www.kuwaitfinancialexpress.com/?p=307214 LONDRES, March 28, 2023 (GLOBE NEWSWIRE) — Depois de 20 anos sob propriedade familiar, a Classic Parade, uma empresa de aluguer de hipercarros em Londres, passar a ser imediatamente uma empresa LTD que conta com apoio financeiro de investidores do Qatar.

Este passo resulta de uma deciso comercial estratgica para se concentrar no crescimento para alm do Reino Unido. Atualmente, a Classic Parade presta servios de aluguer de hipercarros de luxo a clientes em todo o Reino Unido, mas com o investimento revitalizador dos seus novos proprietrios, pretende tornar–se na empresa de aluguer de hipercarros premium que presta servios em toda a Europa. Nenhum outro fornecedor de supercarros de luxo de aluguer serve uma localizao geogrfica to grande na rea; a Classic Parade ser a primeira.

O seu atual porteflio de veculos vasto, incluindo marcas bem conhecidas na comunidade de veculos de luxo, como Ferrari, McLaren, Rolls Royce, Porsche, Audi e muito mais. Um contrato de aluguer pode ser concludo em apenas 24 horas, tornando possvel obter um aluguer de hipercarros no dia seguinte no Reino Unido. Com estes mesmos servios oferecidos em toda a Europa, a Classic Parade expandir a sua frota para atender demanda da sua crescente base de clientes. Todos os veculos disponveis podem ser encontrados no Website da Classic Parade, mas segue–se um breve instantneo da frota da Classic Parade:

  • Ferrari SF90 Stradale: o Ferrari SF90 Stradale tem a potncia impressionante de 986 cv. Com uma cor vermelha arrojada, este um dos veculos mais procurados da atualidade.
  • McLaren Speedtail: a carroaria elegante deste veculo oferece aerodinmica e os seus 1050 cv so um ponto de venda para muitos clientes.
  • Lamborghini Sian: com uma tarifa diria de 6000 , este modelo fica no nvel superior dos Lamborghini disponveis. Possui 808 cv e vai das 0 s 60 MPH em 2,8 segundos.
  • Porsche 918 Spyder: com um preo de 3500 por dia, os motoristas podem testar a capacidade do Porsche 918 Spyder para ir das 0 s 60 MPH em 2,2 segundos.

Os alugueres de supercarros tm vrias faixas de preos e cada contrato exige um depsito de cauo. Se o veculo for devolvido Classic Parade em boas condies, o depsito de cauo ser reembolsado aos clientes. Todos os contratos incluem seguro de aluguer de auto–conduo para 2 condutores, embora os condutores devam ter, pelo menos, 25 anos de idade para conduzir veculos alugados na Classic Parade.

Expandindo com uma abordagem faseada, a Classic Parade fornecer atualizaes quando o servio tiver incio em localizaes por toda a Europa. Uma vez em funcionamento, estas localizaes podero aceder ao servio e a entregas 24 horas por dia em qualquer dia da semana.

Outro servio que estar disponvel para os clientes em toda a Europa o programa "Try Before You Buy", que conecta potenciais compradores com os veculos nos quais esto interessados antes de os comprarem definitivamente. Antes de investir num veculo caro, os clientes da Classic Parade podem conduzir o mesmo veculo de luxo durante qualquer perodo de tempo. Os termos de contratao flexveis e os pacotes de preos personalizados tornam–no possvel.

Os interessados em alugar um supercarro da Classic Parade no Reino Unido podem contactar rent@classicparade.co.uk ou ligar para o +44 (0) 333 355 3595. No esto disponveis aligueres em outras localizaes, mas quando tal mudar, as atualizaes podero ser encontradas aqui. A equipa da Classic Parade est disponvel 24 horas, 7 dias por semana, para responder a perguntas ou finalizar detalhes de aluguer de supercarros para clientes no Reino Unido.

Uma foto a acompanhar este anncio est disponvel em https://www.globenewswire.com/NewsRoom/AttachmentNg/e320844d–7478–4095–83aa–44c56e95cb84

Contacto
Classic Parade
+44 (0) 333 355 3595
rent@classicparade.co.uk


GLOBENEWSWIRE (Distribution ID 1000800733)

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Classic Parade annonce sa constitution en société à responsabilité limitée http://www.kuwaitfinancialexpress.com/classic-parade-annonce-sa-constitution-en-societe-a-responsabilite-limitee/ Tue, 28 Mar 2023 18:05:15 +0000 http://www.kuwaitfinancialexpress.com/?p=307212 LONDRES, 28 mars 2023 (GLOBE NEWSWIRE) — Aprs 20 ans de proprit familiale, Classic Parade, une socit de location d'hypercars base Londres, devient dsormais une socit responsabilit limite qui bnficie du financement d'investisseurs qataris.

Ce changement procde d'une dcision stratgique de l'entreprise de privilgier sa croissance en dehors du Royaume–Uni. Pour l'heure, Classic Parade propose des services de location d'hypercars dans tout le Royaume–Uni, mais grce l'investissement redynamisant de ses nouveaux propritaires, elle nourrit l'ambition de s'imposer comme la socit de location d'hypercars haut de gamme l'chelle de l'Europe. Dans la mesure o aucun autre prestataire de service de location de supercars de luxe ne dessert une zone gographique aussi tendue dans la rgion, Classic Parade fera figure de pionnier en la matire.

Son portefeuille actuel de vhicules est vaste et comprend des marques rputes dans le domaine des vhicules de luxe, telles que Ferrari, McLaren, Rolls Royce, Porsche, Audi, et bien d'autres encore. L'entreprise offre la possibilit de conclure un contrat de location en peine 24 heures, ce qui permet d'obtenir la location d'une hypercar le lendemain au Royaume–Uni. Pour proposer les mmes services dans toute l'Europe, Classic Parade devra largir son parc pour rpondre la demande de sa clientle grandissante. Tous les vhicules proposs peuvent tre consults sur le site Web de Classic Parade, mais voici un bref aperu de son parc :

  • Ferrari SF90 Stradale : La Ferrari SF90 Stradale dispose d'une puissance impressionnante de 986 chevaux. Se dclinant en une couleur rouge audacieuse, il s'agit de l'un des vhicules les plus convoits aujourd'hui.
  • McLaren Speedtail : La carrosserie lgante de ce vhicule lui confre de l'arodynamisme, et sa puissance de 1050 chevaux constitue un argument de vente auprs de nombreux clients.
  • Lamborghini Sian : Propos au tarif journalier de 6 000 , ce modle se situe dans le haut de gamme des Lamborghini disponibles. Le vhicule possde une puissance de 808 chevaux et est capable de passer de 0 60 km/h en 2,8 secondes.
  • Porsche 918 Spyder : Contre un tarif journalier de 3 500 , les conducteurs peuvent tester la capacit de la Porsche 918 Spyder passer de 0 60 km/h en l'espace de 2,2 secondes.

Les locations de supercars sont proposes diffrents prix, chaque contrat ncessitant un dpt de garantie. Lorsque le client restitue le vhicule en bon tat Classic Parade, le dpt de garantie lui est rembours. Chaque contrat comprend une assurance de location de vhicules autonomes pour deux (2) conducteurs, ceux–ci devant toutefois tre gs d'au moins 25 ans pour conduire les vhicules lous par Classic Parade.

Classic Parade se dveloppera de manire progressive et communiquera les informations les plus rcentes ds que les services commenceront tre assurs sur les sites travers l'Europe. Une fois oprationnels, ces sites pourront bnficier d'un service 24 heures sur 24 et de livraisons tous les jours de la semaine.

Un autre service sera propos aux clients dans toute l'Europe, savoir le programme Essayez avant d'acheter (Try Before You Buy), qui met en relation de potentiels acheteurs avec les vhicules qui les intressent avant qu'ils ne les achtent dfinitivement. Avant d'investir dans l'achat d'un vhicule coteux, les clients de Classic Parade peuvent conduire le mme vhicule de luxe pendant une dure indtermine. Cette offre est rendue possible grce des conditions de location flexibles et des formules tarifaires personnalises.

Les personnes dsireuses de louer une supercar auprs de Classic Parade au Royaume–Uni peuvent contacter l'entreprise par e–mail l'adresse rent@classicparade.co.uk ou par tlphone au numro +44 (0) 333 355 3595. Aucun service de location n'est pour le moment propos dans d'autres pays, mais si la situation volue, des mises jour seront disponibles ici. L'quipe de Classic Parade est disponible 24 heures sur 24, 7 jours sur 7 pour rpondre aux questions ou finaliser les dtails de la location de supercars pour les clients au Royaume–Uni.

Une photo accompagnant cette annonce est disponible sur https://www.globenewswire.com/NewsRoom/AttachmentNg/e320844d–7478–4095–83aa–44c56e95cb84

Pour contacter
Classic Parade :
+44 (0) 333 355 3595
rent@classicparade.co.uk


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Classic Parade announces its incorporation as an LTD company http://www.kuwaitfinancialexpress.com/classic-parade-announces-its-incorporation-as-an-ltd-company/ Mon, 27 Mar 2023 14:36:04 +0000 http://www.kuwaitfinancialexpress.com/?p=307196 LONDON, March 27, 2023 (GLOBE NEWSWIRE) — After 20 years under family ownership, Classic Parade, a hypercar hire company in London, will now effective immediately become an LTD company that has financial backing from Qatari investors.

This move comes from a strategic business decision to focus on growth beyond the United Kingdom. Currently, Classic Parade services luxury hypercar hire customers all over the UK, but with the revitalizing investment from its new owners, it aims to become the premium hypercar hire company that services all of Europe. No other luxury supercar for–hire provider serves that large of a geographical location in the area; Classic Parade will be the first.

Its existing portfolio of vehicles is vast, including well–known brands in the luxury vehicle community such as Ferrari, McLaren, Rolls Royce, Porsche, Audi, and more. A hire agreement can be completed in as little as 24 hours, making it possible to get a next–day hypercar hire in the UK. With these same services offered in all of Europe, Classic Parade will expand its fleet to meet the demand of its growing customer base. All of the available vehicles can be found on Classic Parade's website, but a brief snapshot of the Classic Parade fleet is as follows:

  • Ferrari SF90 Stradale: The Ferrari SF90 Stradale has impressive power with 986 bhp. In a bold red color, this is one of the most sought–after vehicles today.
  • McLaren Speedtail: The sleek body of this vehicle offers aerodynamics and its 1050 bhp is a selling point for many customers.
  • Lamborghini Sian: With a daily rate of 6000, this model sits at the top tier of available Lamborghinis. It features 808 bhp and goes from 0–60 MPH in 2.8 seconds.
  • Porsche 918 Spyder: With a price of 3500 per day, drivers can test out the Porsche 918 Spyder's ability to get from 0–60 MPH in 2.2 seconds.

Supercar hires have a range of price points, with each agreement requiring a security deposit. When the vehicle is returned to Classic Parade in good condition, the security deposit will be refunded to the customers. Every agreement includes self–drive hire insurance for 2 drivers, though drivers must be at least 25 years of age to drive vehicles hired from Classic Parade.

Expanding with a phased approach, Classic Parade will provide updates when servicing starts for locations around Europe. Once up and running, these locations will be able to access 24–hour service and deliveries any day of the week.

Another service that will be available to customers in all of Europe is the "Try Before You Buy" Program, which connects potential buyers with the vehicles they are interested in before they permanently purchase those vehicles. Prior to investing in an expensive vehicle, Classic Parade's customers can drive the same luxury vehicle for any length of time. Flexible hire terms and customized pricing packages make this possible.

Those interested in hiring a supercar from Classic Parade in the UK can reach out to rent@classicparade.co.uk or +44 (0) 333 355 3595. There are no hires available in other locations, but as that changes, updates can be found here. The Classic Parade team is available 24 hours, 7 days a week to answer questions or finalize supercar hire details for customers in the UK.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e320844d–7478–4095–83aa–44c56e95cb84

Contact
Classic Parade
+44 (0) 333 355 3595
rent@classicparade.co.uk


GLOBENEWSWIRE (Distribution ID 1000800415)

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Market Growth Drives Reorganization of Integrated Cryogenic Solutions Unit of Nikkiso Clean Energy and Industrial Gases Group http://www.kuwaitfinancialexpress.com/market-growth-drives-reorganization-of-integrated-cryogenic-solutions-unit-of-nikkiso-clean-energy-and-industrial-gases-group/ Wed, 21 Sep 2022 19:00:00 +0000 http://www.kuwaitfinancialexpress.com/?p=304934 TEMECULA, Calif., Sept. 21, 2022 (GLOBE NEWSWIRE) — Nikkiso Cryogenic Industries' Clean Energy & Industrial Gases Group (Group), a part of the Nikkiso Co., Ltd (Japan) group of companies, is pleased to announce the reorganization of their Integrated Cryogenic Solutions Unit (ICS). As the result of both ICS' growth and tremendous market opportunities in renewable and green energy, ICS will now split into two Functional Units effective October 1, 2022.

The new "Nikkiso Fueling and Solutions" Unit will continue driving the business growth in hydrogen fueling market, natural gas fueling market, skid–mounted system, and turnkey systems. Mike Mackey (currently Senior Vice President of ICS) will be President of Nikkiso Fueling & Solutions. All current ICS staff and facilities will remain part of this new Unit.

The new "Nikkiso Energy Infrastructure & Strategic Projects" (NESP) Unit will expand the Group's offerings to provide turnkey solutions for energy infrastructure including geothermal plants, compressed hydrogen distribution systems, energy recovery solutions, and offshore marine fueling systems. They will also provide full turnkey support for Nikkiso Cosmodyne plants. Joseph Pak (current president of ICS) will serve as President of NESP.

Nikkiso Expander Application Technique (NEAT) department, headed by Dr. Reza Agahi, will be part of the NESP unit.

"These changes are being made to better serve our customers and allow us to expand our portfolio of solutions for the growing global zero–emissions mandate," according to Peter Wagner, CEO of Nikkiso CE&IG. "They further support our vision to be "Leading the change to a healthier world'."

With these changes, Nikkiso continues their commitment to be both a global and local presence for their customers.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture and service engineered cryogenic gas processing equipment (pumps, turboexpanders, heat exchangers, etc.), and process plants for Industrial Gases, Natural gas Liquefaction (LNG), Hydrogen Liquefaction (LH2) and Organic Rankine Cycle for Waste Heat Recovery. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.

For more information, please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:
Anna Quigley
+1.951.383.3314
aquigley@cryoind.com


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Synchronoss Announces Closing of $235 Million of Common Stock and Senior Notes Offerings http://www.kuwaitfinancialexpress.com/synchronoss-announces-closing-of-235-million-of-common-stock-and-senior-notes-offerings/ Wed, 30 Jun 2021 20:05:00 +0000 http://www.kuwaitfinancialexpress.com/?p=306107 In addition, Synchronoss raised $75 million through a
private placement of preferred stock

Net proceeds used to refinance the company's capital structure

BRIDGEWATER, N.J. , June 30, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, today announced that on June 29, 2021 it closed an underwritten public offering of 42,307,692 shares of common stock, which included 3,846,154 shares issued in connection with the underwriters' option to purchase additional shares, at a price to the public of $2.60 per share, for gross proceeds of approximately $110 million. The Company also announced that on June 30, 2021 it closed an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026, which included $5 million aggregate principal amount of senior notes issued in connection with the underwriters' option to purchase senior notes. Gross proceeds for both offerings are exclusive of underwriting discounts and commissions and estimated offering expenses payable by the Company.

Synchronoss and the senior notes both received a rating of BB– from Egan–Jones Ratings Company, an independent, unaffiliated rating agency. The notes are expected to begin trading on the Nasdaq Global Select Market under the symbol "SNCRL" as early as July 1, 2021.

In addition to the public offerings, on June 30, 2021 the Company closed a private placement of 75,000 shares of its Series B Perpetual Non–Convertible Preferred Stock to B. Riley Principal Investments, LLC for an aggregate purchase price of $75 million.

The two public offerings and the private placement resulted in net proceeds of approximately $300 million after deducting underwriting discounts and commissions, but before expenses. On June 30, 2021, the Company used the net proceeds in part to fully redeem all outstanding shares of its Series A Convertible Participating Perpetual Preferred Stock owned by an affiliate of Siris Capital Group and to repay amounts outstanding under the Company's revolving credit facility.

"Synchronoss has emerged from this comprehensive refinancing process with a solid financial foundation that will support our mission to empower our customers to connect with their subscribers in trusted and meaningful ways," said Jeff Miller, President and CEO of Synchronoss. "Today we have a sustainable financial environment that gives us the operating flexibility required to invest in delivering and enhancing great cloud, messaging and digital experiences for our customers; to enable long–term growth; and to deliver higher stockholder value to those who invest in the company."

The refinancing has also led to the departure of Synchronoss Board of Directors members Frank Baker, Peter Berger and Robert Aquilina, each of whom is associated with Siris Capital Group. "On behalf of the entire Board and management, I would like to thank Frank, Peter and Bob for their contributions to Synchronoss over the last three years and for their generosity as advisors to me personally," said Miller.

In conjunction with this new capitalization, B. Riley Financial, Inc., including certain of its affiliates, serve as Synchronoss' anchor investor. Synchronoss has granted B. Riley representation on its Board.

Bryant Riley, Chairman and Co–CEO of B. Riley Financial, Inc., commented: "We are pleased to serve as a strategic partner and financial sponsor to Synchronoss on this capitalization and are committed to leveraging the full operational and financial capabilities of our platform to support Synchronoss in its strategy to deliver value. We look forward to continuing to work closely with Jeff and the entire management team as Synchronoss enters this exciting new phase for its business."

B. Riley Securities, Inc., acted as the lead underwriter and sole book–running manager for the common stock offering. Northland Capital Markets acted as co–manager for the common stock offering.

B. Riley Securities, Inc. acted as the sole book–running manager for the senior notes offering. Northland Capital Markets, Aegis Capital Corp. and EF Hutton, a division of Benchmark Investments, LLC acted as lead managers for the senior notes offering.

The common stock and senior notes were offered under the Company's shelf registration statement on Form S–3, which was declared effective by the Securities and Exchange Commission ("SEC") on August 28, 2020. The offerings were made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the accompanying base prospectus for the offering may be obtained on the SEC's website at www.sec.gov, or by contacting B. Riley Securities by telephone at (703) 312–9580, or by email at prospectuses@brileyfin.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Synchronoss

Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company's collection of products helps streamline networks, simplify onboarding and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That's why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com

Safe Harbor Statement

This release contains forward–looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements regarding the closing of the public offering and the anticipated use of the proceeds thereof. These forward–looking statements are subject to a number of risks, including the satisfaction of customary closing conditions related to the public offering and the risk factors set forth from time to time in Synchronoss' SEC filings, including but not limited to the risks that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections (as applicable) of Synchronoss' Annual Report on Form 10–K for the year ended December 31, 2020 and Quarterly Report on Form 10–Q for the period ended March 31, 2021, which are on file with the SEC and available on the SEC's website at www.sec.gov. In addition to the risks described above and in Synchronoss' other filings with the SEC, other unknown or unpredictable factors also could affect Synchronoss' results. No forward–looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Synchronoss undertakes no obligation to update any forward–looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Contacts

Media
Anais Merlin, CCgroup (International)
Diane Rose, CCgroup (North America)
synchronoss@ccgrouppr.com

Investors
Todd Kehrli/Joo–Hun Kim, MKR Investor Relations, Inc.
investor@synchronoss.com


GLOBENEWSWIRE (Distribution ID 8273461)

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Synchronoss Technologies, Inc. Announces Pricing of $125 Million Public Offering of Senior Notes http://www.kuwaitfinancialexpress.com/synchronoss-technologies-inc-announces-pricing-of-125-million-public-offering-of-senior-notes/ Fri, 25 Jun 2021 22:30:02 +0000 http://www.kuwaitfinancialexpress.com/?p=306094 BRIDGEWATER, N.J., June 25, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (SNCR) (the "Company" or "Synchronoss"), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the pricing of an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026, including the exercise in full by the underwriters of the underwriters' option to purchase an additional $5 million aggregate principal amount of senior notes. The offering is expected to close on or about June 30, 2021, subject to satisfaction of customary closing conditions.

Synchronoss and the senior notes both received a rating of BB– from Egan–Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the senior notes on the Nasdaq Global Select Market under the symbol "SNCRL" and expects the notes to begin trading within 30 business days of the closing date of the offering, if approved.

All of the senior notes in the offering are being sold by Synchronoss. Synchronoss anticipates using the net proceeds from the offering, and from the offering of common stock and sale of Series B Preferred Stock (each as described below), to fully redeem all outstanding shares of Synchronoss' Series A Convertible Participating Perpetual Preferred Stock and repay amounts outstanding under Synchronoss' revolving credit facility.

B. Riley Securities, Inc. ("BRS") is acting as the sole book–running manager for the offering. Northland Capital Markets, Aegis Capital Corp. and EF Hutton, division of Benchmark Investments, LLC are acting as lead managers for the offering.

Concurrently with the offering, the Company is offering, by means of a separate prospectus supplement, $100 million of shares of its common stock. In addition, B. Riley Principal Investments, LLC ("BRPI"), an affiliate of BRS, has entered into an agreement pursuant to which BRPI has agreed to purchase $75.0 million of the Company's Series B Preferred Stock in a private transaction to be completed concurrently with the closing of the offering.

The senior notes described above are being offered by Synchronoss pursuant to a shelf registration statement on Form S–3 previously filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on August 28, 2020. A preliminary prospectus supplement relating to and describing the terms of the offering is filed with the SEC and is available on the SEC's web site at www.sec.gov. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC. Copies of the final prospectus supplement (when available) and accompanying prospectus relating to these securities may also be obtained by sending a request to: B. Riley Securities, Inc., at 1300 North 17th Street, Suite 1300, Arlington, VA 22209 or by calling (703) 312"9580 or by emailing prospectuses@brileyfin.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Synchronoss

Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company's collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market.

Safe Harbor Statement

This release contains forward–looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements regarding the closing of the public offering and the anticipated use of the proceeds thereof. These forward–looking statements are subject to a number of risks, including the satisfaction of customary closing conditions related to the public offering and the risk factors set forth from time to time in Synchronoss' SEC filings, including but not limited to the risks that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections (as applicable) of Synchronoss' Annual Report on Form 10–K for the year ended December 31, 2020 and Quarterly Report on Form 10–Q for the period ended March 31, 2021, which are on file with the SEC and available on the SEC's website at www.sec.gov. In addition to the risks described above and in Synchronoss' other filings with the SEC, other unknown or unpredictable factors also could affect Synchronoss' results. No forward–looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Synchronoss undertakes no obligation to update any forward–looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Media

Diane Rose
CCgroup
diane@ccgrouppr.com

Investors

Todd Kehrli/Joo–Hun Kim
MKR Investor Relations, Inc.
investor@synchronoss.com


GLOBENEWSWIRE (Distribution ID 8260864)

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