SYNCHRONOSS TECHNOLOGIES, INC. ANNOUNCES PRICING OF $100 MILLION PUBLIC OFFERING OF COMMON STOCK

 

BRIDGEWATER, N.J., June 28 (Bernama-GLOBE NEWSWIRE) -- Synchronoss Technologies, Inc. (SNCR) (the “Company” or “Synchronoss”), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the pricing of an underwritten public offering of 38,461,538 shares of its common stock at a public offering price of $2.60 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Synchronoss, are expected to be $100 million. In addition, Synchronoss has granted the underwriters a 30-day option to purchase up to 3,846,154 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares in the offering are being sold by Synchronoss. Synchronoss anticipates using the net proceeds from the offering, and from the offering of Senior Notes and sale of Series B Preferred Stock (each as described below), to fully redeem all outstanding shares of Synchronoss’ Series A Convertible Participating Perpetual Preferred Stock and repay amounts outstanding under Synchronoss’ revolving credit facility. The offering is expected to close on or about June 29, 2021, subject to satisfaction of customary closing conditions.  B. Riley Securities, Inc. (“BRS”) is acting as the lead underwriter and sole book-running manager for the offering. Northland Capital Markets is acting as co-manager for the offering.  Concurrently with the offering, the Company is offering, by means of a separate prospectus supplement, $120 million aggregate principal amount of senior notes due 2026 (the “Senior Notes”). In addition, B. Riley Principal Investments, LLC (“BRPI”), an affiliate of BRS, has entered into an agreement pursuant to which BRPI has agreed to purchase $75.0 million of the Company’s Series B Preferred Stock in a private transaction to be completed concurrently with the closing of the offering.  The shares of common stock described above are being offered by Synchronoss pursuant to a shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on August 28, 2020. A preliminary prospectus supplement relating to and describing the terms of the offering is filed with the SEC and is available on the SEC’s web site at www.sec.gov. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. Copies of the final prospectus supplement (when available) and accompanying prospectus relating to these securities may also be obtained by sending a request to: B. Riley Securities, Inc., at 1300 North 17th Street, Suite 1300, Arlington, VA 22209 or by calling (703) 312‐9580 or by emailing prospectuses@brileyfin.com.  This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.   http://mrem.bernama.com/viewsm.php?idm=40387

Hainan Free Trade Port activities promote intangible cultural heritage inheritance

 

KUALA LUMPUR, June 17 -- The 1st Nanshan Intangible Cultural Heritage Festival in 2021 is one of the intangible cultural heritage-oriented activities that celebrates the Cultural and Natural Heritage Day held by Hainan Free Trade Port, the only free trade port in China.

Centering around the theme, ‘intangible cultural heritage of people and for people’, the Hainan Bureau of Tourism and Culture carried out nearly 100 activities in the province, mainly in exhibition sites at Haikou city, Sanya city, Wuzhishan city, Ding'an county, and Baoting county.

The rich variety of cultural events has enabled residents, tourists and the entire society to benefit from the preservation of intangible cultural heritage and achievement of related R&D, according to a statement.

Apart from the Nanshan Intangible Cultural Heritage Festival in Sanya, Hainan Intangible Cultural Heritage Shopping Festival was held in the Haikou exhibition site on the same day, with the ‘live broadcast promotion + offline fair’ having attracted nearly 800,000 participants.

Meanwhile, the exhibition site in Wuzhishan focused on the demonstration of techniques of intangible cultural heritage, with nearly 100 inheritor representatives of intangible cultural heritage showcasing their talents.

The exhibition site in Ding'an invited famous local performing artistes to present the audience with Hainan opera, puppet shows, Danzhou folk music, and other traditional music and operas included in the list of intangible cultural heritage in need of protection.

Residents and tourists that follow the progress of Hainan's intangible cultural heritage inheritance R&D will find that Hainan has taken comprehensive measures to make intangible cultural heritage closer to people's daily lives and introduce young people to their rich cultural heritage.

Many intangible cultural heritage handicrafts and creative cultural products such as vases, tea sets, and tableware not only explicitly embody the characteristics of intangible cultural heritage but also demonstrate their properties as artwork and practical objects.

Zhou Renci, the inheritor representative of seashell carving at the provincial level had been cooperating with vocational schools to implement training courses of intangible cultural heritage techniques, hoping the cultural heritage programmes which contain wisdom of humanity can be studied and accepted by more young people.

-- BERNAMA

Sophi.io bags 2 INMA Global Media Awards

KUALA LUMPUR, June 8 -- Sophi.io, The Globe and Mail’s artificial intelligence-powered optimisation and prediction platform has won the International News Media Association (INMA) Global Media Awards in two categories.

Based on a statement, the categories are Best Use of Data to Automate or Personalize and Best in Show for North America.

The Globe and Mail Publisher and Chief Executive Officer, Phillip Crawley said: “I’m particularly pleased that Sophi’s fully dynamic, real-time, personalised paywall won in two categories, and that Sophi’s ground-breaking automated print laydown technology was nominated for its use with Naviga and Agderposten.”

Sophi also took second place in the categories of Best Initiative to Acquire Subscribers and Best Use of Data to Drive Subscriptions, Content, or Product Design and was shortlisted as a finalist in Best Initiative to Register Users, and Best Product and Tech Innovation.

“Great use of data with huge impact. Personalising paywalls is key for success in the digital subscription business for news media. This entry presents more evidence why this is true,” one judge said about the paywall technology.

This year’s competition drew 644 entries from 212 news brands in 37 countries. The judges were 44 global media experts focused on breakthrough results, unique concepts, strong creativity, innovative thinking, and winner synergies across platforms.

Sophi’s fully dynamic, personalised, real-time paywall uses natural language processing to analyse both content and user behaviour to determine when to ask a reader for money or an email address, and when to leave them alone.

It can optimise for multiple outcomes simultaneously (such as different bundles or price points) and also works well in cold-start situations.

-- BERNAMA

Mary Kay joins Ellen MacArthur Foundation, commits to circular economy

 

KUALA LUMPUR, June 2 -- Mary Kay Inc, a global advocate for environmental consciousness and corporate responsibility, has joined the Ellen MacArthur Foundation as a member of its Network.

This is part of its commitment to becoming a more sustainable, circular business, according to a statement.

Mary Kay was inducted among other influential organisations including The Ford Motor Company, International Paper, Mattel and The Fashion Institute of Technology.

The Ellen MacArthur Foundation is a UK-based charity that develops and promotes the idea of a circular economy, based on the principles of eliminating waste and pollution, keeping products and materials in use, and regenerating natural systems.

The Ellen MacArthur Foundation works with — and inspires — business, academia, policymakers, and institutions to mobilise systems solutions at scale, globally.

Mary Kay, which is set to announce its sustainability strategy later this year, hopes to work with the Ellen MacArthur Foundation and other Network organisations to further implement economy practices — with a focus on materials sourcing.

The company is committed to reducing its environmental footprint and is taking steps to improve efficiency in its operations, thinking long term to incorporate responsible business practices.

Mary Kay's global manufacturing facilities in China achieved zero waste-to-landfill status in 2014, while the global manufacturing centre located in Texas, USA, achieved the status in 2011.

-- BERNAMA