By Devika Patel
Knoxville, Tenn., Jan. 15 - Nuance Communications Inc. said it plans a $175 million private placement of shares.
The company will sell 17,395,626 common shares at $10.06 apiece to Warburg Pincus. Warburg also will receive a warrant for 3,862,422 shares, which is exercisable at $11.57 for four years.
Proceeds will be used for general corporate purposes, and potential merger and acquisition activity.
Nuance Communications is a Burlington, Mass.-based speech and imaging technology company.
| Issuer: | Nuance Communications Inc.
|
| Issue: | Common shares
|
| Amount: | $175 million
|
| Shares: | 17,395,626
|
| Price: | $10.06
|
| Warrants: | For 3,862,422 shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $11.57
|
| Investor: | Warburg Pincus
|
| Pricing date: | Jan. 15
|
| Stock symbol: | Nasdaq: NUAN
|
| Stock price: | $9.18 at close Jan. 14
|
| Market capitalization: | $2.39 billion
|
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