By Devika Patel
Knoxville, Tenn., April 8 - Nuance Communications, Inc. announced it has negotiated a $100 million private placement of stock and a warrant in order to finance its planned acquisition of eScription, a provider of computer aided medical transcription technology.
The acquisition agreement was announced in the same news release as the private placement.
The company plans to sell 5,760,369 common shares at $17.36 per share to Warburg Pincus. Warburg Pincus also will receive a warrant for 3.7 million shares, which is exercisable at $20.00 for four years.
This deal will settle at the same time as the closing of the eScription acquisition, and is contingent upon the acquisition.
Proceeds will be used to finance the acquisition.
Nuance Communications is a Burlington, Mass.-based speech and imaging technology company.
| Issuer: | Nuance Communications, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $100,000,005.84
|
| Shares: | 5,760,369
|
| Price: | $17.36
|
| Warrants: | For 3.7 million shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $20.00
|
| Investor: | Warburg Pincus
|
| Pricing date: | April 8
|
| Stock symbol: | Nasdaq: NUAN
|
| Stock price: | $17.44 at close April 7
|
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