RingCentral Announces Repurchase of Approximately $253 Million of Convertible Notes
13 Diciembre 2023 - 7:00AM
Business Wire
RingCentral, Inc. (“RingCentral” or the “Company”) (NYSE: RNG),
a leading provider of AI-first global enterprise cloud
communications, video, webinars, hybrid events, and contact center
solutions, today announced that it has entered into individual,
privately negotiated repurchase transactions (the “Note
Repurchases”) with certain holders of the Company’s 0% Convertible
Senior Notes due 2025 (the “2025 Convertible Notes”).
Pursuant to the Note Repurchases, the Company will pay
approximately $240 million in cash to repurchase approximately $253
million aggregate principal amount of the 2025 Convertible Notes,
using the proceeds received from the Company’s previously announced
issuance of its 8.500% Senior Notes due 2030 (the “2030 Notes”).
The Note Repurchases are aligned with the Company’s previous
announcement that it intends to use the net proceeds from the
issuance of the 2030 Notes to repurchase and/or repay a portion of
its outstanding convertible notes. The Company anticipates the
closing of the Note Repurchases to occur on or about December 15,
2023. Following the closing of the Note Repurchases, approximately
$161 million aggregate principal amount of the 2025 Convertible
Notes will remain outstanding.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities described above, nor
will there be any offer, solicitation, or sale of any securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited to,
whether RingCentral will be able to consummate the Note
Repurchases. Forward-looking statements may be identified by the
use of the words “may,” “will,” “expect,” “intend” and other
similar expressions. These forward-looking statements are based on
estimates and assumptions by RingCentral’s management that,
although believed to be reasonable, are inherently uncertain and
subject to a number of risks. Actual results may differ materially
from those anticipated or predicted by RingCentral’s
forward-looking statements. All forward-looking statements are
subject to other risks detailed in our Annual Report on Form 10-K
for the year ended December 31, 2022, and in our Quarterly Reports
on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023
and September 30, 2023, and the risks discussed in our other
filings with the Securities and Exchange Commission. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All
forward-looking statements in this press release are based on
information available to RingCentral as of the date hereof, and we
undertake no obligation to update these forward-looking statements,
to review or confirm analysts’ expectations, or to provide interim
reports or updates on the progress of the current financial
quarter.
About RingCentral
RingCentral is a leading global provider of AI-first cloud-based
business communications and collaboration that seamlessly combines
phone system, messaging, video, webinars and hybrid events, and
contact center solutions. RingCentral empowers businesses with
conversation intelligence, and unlocks rich customer and employee
interactions to provide insights and improved business outcomes.
With decades of expertise in reliable and secure cloud
communications, RingCentral has earned the trust of millions of
customers and thousands of partners worldwide.
©2023 RingCentral, Inc. All rights reserved. RingCentral,
RingSense, RingCX, RingCentral Events, and the RingCentral logo are
trademarks of RingCentral, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213658311/en/
Investor Relations Contact Will Wong, RingCentral
650-450-4826 ir@ringcentral.com
Media Contact Mariana Leventis, RingCentral 650-562-6545
Mariana.Leventis@ringcentral.com
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