Synchronoss plans $120 million $25-par five-year senior notes

By Wendy Van Sickle

Columbus, Ohio, June 24 – Synchronoss Technologies, Inc. is offering $120 million of $25-par five-year senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

There is a $5 million greenshoe.

The notes are callable starting June 30, 2022 at $25.75 a note; starting June 30, 2023 at $25.50 a note; starting June 30, 2024 at $25.25 a note; and starting June 30, 2025 at par. In each case, accrued interest will also be paid in the event of a redemption.

B. Riley Securities is the bookrunning manager.

Northland Capital Markets, Aegis Capital Corp. and EF Hutton are the lead managers.

The company plans to use proceeds to fully redeem all outstanding shares of its series A convertible participating perpetual preferred stock.

Synchronoss Technologies is a Bridgewater, N.J.-based provider of managed mobility solutions for Service Providers and Enterprise.

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