Nuance gives shares, cash in exchange for additional $102 million of 1% convertibles due 2035

By Rebecca Melvin

Concord, N.H., May 28 – Nuance Communications Inc. announced that it has issued an additional 4.2 million shares of common stock and $1.1 million in cash for $102.2 million of its 1% convertibles due 2035, according to a news release.

The exchanges are expected to close on June 1.

The additional privately negotiated agreements with certain investors follows an exchange of 17.9 million shares of common stock and cash for $354.8 million of its 1% convertibles and $64.9 million of its 1.5% convertibles due 2035. These transactions were expected to close on Friday.

Following the exchanges, $219.5 million principal amount of the 1% convertibles will remain outstanding.

Nuance is a Burlington, Mass.-based speech recognition and artificial intelligence company.

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