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.

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