Synchronoss Technologies Significantly Improves Capital Structure Through Discounted Retirement of Series B Preferred and Reduction in Senior Note Obligation

$75.0 Million Financing Proceeds to be Used for Repurchase of All Outstanding Shares of Series B Preferred and Repurchase of Approximately$19.7 Million of Senior Notes at a Discount to Face Value Once complete, the Company expects these actions to reduce its total outstanding net debt, inclusive of its retired Series B Preferred, by approximately $7.3 million in addition to creating nearly$10.6 million in projected pre-tax cost savings over the life of the term loan. Synchronoss believes that these measur ...