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Synchronoss Secures Loan, Restructures Debt, and Buys Back Shares

Synchronoss Secures Loan, Restructures Debt, and Buys Back Shares

An announcement from Synchronoss Technologies (SNCR) is now available.

On June 28, 2024, Synchronoss Technologies, Inc. secured a $75 million senior secured term loan to fund repurchases and pay transaction fees. The loan, bearing interest at an adjusted rate plus 5.50% with a 2.50% floor, will mature on June 28, 2028, with conditions allowing for an earlier date based on the company’s senior notes status. Synchronoss also repurchased $19.7 million of its own senior notes and all outstanding shares of Series B Preferred stock, restructuring its debt and equity in a significant financial maneuver.

For detailed information about SNCR stock, go to TipRanks’ Stock Analysis page.

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