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Ribbon Communications Inc. Announces Closing of New $385 Million Senior Secured Credit Facility

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Proceeds will be used to repay outstanding debt under current credit facility and to redeem Series A Preferred Stock

PLANO, Texas, June 21, 2024 /PRNewswire/ — Ribbon Communications Inc. (Nasdaq: RBBN) (“Ribbon”), a global provider of real time communications technology and IP optical networking solutions to many of the world’s largest service providers, enterprises, and critical infrastructure operators to modernize and protect their networks, today announced that it has completed the previously announced $385 million senior secured credit facility (the “2024 Credit Facility”) comprised of a $350 million term loan and a $35 million revolving credit facility. Proceeds from the term loan under the 2024 Credit Facility will be used to refinance the prior credit facility, redeem in full Ribbon’s outstanding Series A Preferred Stock and pay fees, costs and expenses related to the 2024 Credit Facility.  Excess proceeds from the term loan will be used for working capital and other general corporate purposes.

Loans under the 2024 Credit Facility will mature on June 21, 2029.  The loans will initially bear interest at a rate per annum equal to SOFR plus 6.25%.  After Ribbon delivers the financial statements for the fiscal year ended December 31, 2024 pursuant to the 2024 Credit Facility, the interest rate will be SOFR plus a margin of 5.75% to 6.25% depending on the Company’s consolidated net leverage.  At the Company’s option, interest may be calculated using an alternative base rate plus a margin ranging from 4.75% to 5.25%.  Outstanding amounts under the 2024 Credit Facility are secured by substantially all of the assets of Ribbon, and certain of the Ribbon’s subsidiaries. 

HPS Investment Partners, LLC will serve as Administrative Agent under the 2024 Credit Facility and HPS Investment Partners, LLC and WhiteHorse Capital served as joint lead arrangers and bookrunners.

“We are pleased to complete this important milestone for the Company that provides us with the right capital structure as we look to continue to profitably grow the business,” said Mick Lopez, Chief Financial Officer of Ribbon Communications.  “We believe that HPS and WhiteHorse Capital will be excellent financial partners due to their strategic perspective and financial strength.  With them, we believe our capital structure will have the flexibility to address our future growth opportunities.”

In connection with the closing of the 2024 Credit Facility, the Company also issued a notice of redemption in full of its Series A Preferred Stock.  Under the terms of the redemption, the Series A Preferred Stock will be redeemed on June 25, 2024.

About Ribbon 
Ribbon Communications (Nasdaq: RBBN) delivers communications software, IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today’s smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge software-centric solutions, cloud-native offers, leading-edge security and analytics tools, along with IP and optical networking solutions for 5G and broadband internet. We maintain a keen focus on our commitments to Environmental, Social and Governance (ESG) matters, offering an annual Sustainability Report to our stakeholders. To learn more about Ribbon visit rbbn.com.

Important Information Regarding Forward-Looking Statements 
The information in this release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties.  All statements other than statements of historical facts contained in this release, including without limitation statements regarding the Company’s future growth and the redemption of the Series A Preferred Stock, are forward-looking statements. Without limiting the foregoing, the words “believes”, “estimates”, “expects”, “expectations”, “intends”, “may”, “plans”, “projects” and other similar language, are intended to identify forward-looking statements. 

Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.  Actual results may differ materially from those contemplated in these forward-looking statements due to various risks, uncertainties and other important factors, including, among others, the effects of geopolitical instabilities and wars, including in Israel and Ukraine (and the impact of sanctions and trade restrictions imposed as a result thereof); operational disruptions at facilities located in Israel including as a result of military call-ups of the Company’s employees in Israel, closure of the offices there or the temporary or long-term closure of contract manufacturing in the region; the potential impact of litigation; risks related to supply chain disruptions, including as a result of component availability; the impact of new terms and/or covenants in the 2024 Credit Facility; risks resulting from higher interests rates and continued inflationary pressures;  the impact of restructuring and cost-containment activities; unpredictable fluctuations in quarterly revenue and operating results; risks related to cybersecurity and data intrusion; failure to compete successfully against telecommunications equipment and networking companies; failure to grow the Company’s customer base or generate recurring business from existing customers; credit risks; the timing of customer purchasing decisions and the Company’s recognition of revenues; macroeconomic conditions, including inflation; market acceptance of the Company’s products and services; rapid technological and market change; the ability to protect Company intellectual property rights and obtain necessary licenses; the ability to maintain partner, reseller, distribution and vendor support and supply relationships; the potential for defects in the Company’s products; increases in tariffs, trade restrictions or taxes on the Company’s products; and currency fluctuations.

These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect the Company’s business and results from operations. Additional information regarding these and other factors can be found in the Company’s reports filed with the Securities and Exchange Commission, including, without limitation, its Form 10-K for the year ended December 31, 2023. In providing forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations
+1 (978) 614-8050
ir@rbbn.com  

Media Contact
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com  

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SOURCE Ribbon Communications Inc.

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Smartee Expands Middle East Presence, Showcases Innovative Clear Aligner Solutions at Riyadh Conferences

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12 minutes ago

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December 26, 2024

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RIYADH, Saudi Arabia, Dec. 26, 2024 /PRNewswire/ — Smartee Denti-Technology, a global leader in clear aligners and digital orthodontic solutions, further strengthened its presence in the Middle East by unveiling its groundbreaking Clear Mandibular Repositioning Technology at three major orthodontic events in Riyadh: the 18th Saudi Orthodontic Society Annual Conference, the 15th World Implant Orthodontic Conference, and the 4th Saudi Orthodontic Clear Aligner Meeting. These events, held from December 12-14, 2024, brought together leading dental professionals from across the globe to explore advancements in orthodontic care. 

Driving Innovation in a Growing Market

With a rising demand for clear aligners in emerging markets, especially the Middle East, Smartee is positioning itself at the forefront of this growth. Social media platforms like Instagram and TikTok are fueling the popularity of clear aligners by educating patients, while demand in Saudi Arabia, one of the region’s largest markets, continues to rise.

“As China-Saudi Arabia collaboration deepens, Chinese brands like Huawei, Xiaomi, and DJI have built strong reputations for quality and innovation in the Saudi market,” said Garie Zhou, Director of the International Business and Development Division at Smartee. “Smartee entered the Middle East in 2021, achieving regulatory certifications and providing localized training to address the unique needs of this region. By aligning with these market trends, we’re empowering orthodontic professionals to deliver superior care to their patients.”

Revolutionizing Complex Orthodontic Cases

At the event, Prof. Gang Shen, Smartee’s Chief Scientist in R&D, delivered a presentation on Smartee Clear Mandibular Repositioning Therapy— a novel approach aiming to address severe Class II jaw discrepancies. Prof. Gang Shen discussed the increasing need for personalized treatment in complex orthodontics cases, emphasizing that one-size-fits-all solutions are no longer sufficient in today’s clinical environment.

“As patient expectations evolve, so must orthodontic technology,” stated Prof. Gang Shen. “Modern patients demand personalized treatments, especially for complex cases. Clear Mandibular Repositioning Therapy equips orthodontists with the tools to address this demand and enhance trust in the treatment process. I invite my colleagues to explore this technology, which fosters open communication and improves patient outcomes.”

Commitment to Collaboration and Growth

Smartee’s participation in the Riyadh conference underscores its commitment to innovation, collaboration, and the global advancement of orthodontic care. Its strategic initiatives in the Middle East reflect Smartee’s dedication to providing world-class solutions and driving the evolution of orthodontic treatments.

For more information about Smartee and its clear aligner solutions, visit www.smarteealigners.com.

About Smartee Denti-Technology

Smartee Denti-Technology is a global leader in clear aligners and digital orthodontic solutions, committed to transforming smiles with innovative technologies. With a focus on patient-centric care, Smartee provides orthodontists worldwide with advanced tools and training to deliver personalized treatments.

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BEYOND Expo 2025 Launches BEYOND BGlobal Network to Propel Asian Companies into the Global Market

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12 minutes ago

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December 26, 2024

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MACAU, Dec. 26, 2024 /PRNewswire/ — BEYOND Expo, Asia’s largest technology and innovation ecosystem expo, proudly celebrates its fifth anniversary in 2025 with the official launch of the BEYOND BGlobal Network. Designed to meet the growing demand for Asian companies to expand internationally, this groundbreaking initiative offers businesses year-round support, access to strategic networks, and tailored solutions to thrive in global markets.

The Growing Imperative of Going Global

In today’s interconnected and competitive economy, expanding beyond domestic borders has become a necessity for businesses seeking sustained growth. Asian companies, widely recognized for their technological ingenuity and entrepreneurial spirit, face unique hurdles when entering international markets. From mastering localization to navigating global operational challenges, achieving international success requires strategic planning and access to robust networks.

“Globalization is not just about entering new markets; it’s about building meaningful connections that sustain long-term growth while understanding the importance of localization,” said Jason Ho, Co-founder of BEYOND Expo. “The BEYOND BGlobal Network is designed to guide companies through this journey by connecting them with local players and providing unparalleled access to expertise, resources, and opportunities to thrive globally.”

A Milestone Launch at BEYOND Expo 2025

The BEYOND BGlobal Network will be officially unveiled during the Closing Ceremony of BEYOND Expo 2025, scheduled for May 24, 2025, at the Venetian Macao Cotai Expo. The Closing Ceremony will also host the much-anticipated Fund at First Pitch: Celebrity Edition, where top innovative companies will pitch their global visions to a panel of celebrity athletes and leading investors. This exciting showcase underscores the Network’s mission to foster impactful collaborations and create opportunities for cutting-edge businesses to excel on the global stage.

Unmatched Opportunities for Businesses

The BEYOND BGlobal Network is a comprehensive initiative designed to address the multifaceted challenges of global expansion. Through BEYOND Expo’s extensive network, businesses gain access to key decision-makers across sectors, including leading retailers, e-commerce Networks, financial institutions, localization experts, and tech ecosystem leaders. Moreover, the Network enables collaborations with global icons and influencers, elevating brand visibility and engagement in international markets.

BEYOND Expo 2025 will provide a rich array of content through its flagship forums, such as the BGlobal Summit, Wealth Summit, and Global Investment Summit. These summits and forums will deliver actionable insights on topics such as strategic market entry, emerging investment trends, and the evolving dynamics of international trade. Industry-specific sessions will focus on cutting-edge areas such as AI, HealthTech, Clean Energy, Robotics, Lifestyle Tech, SportsTech, FinTech, and Mobility, ensuring a comprehensive exploration of global opportunities across diverse sectors.

Five Years of Bridging Asia’s Tech Ecosystem and the World

Since its inception, BEYOND Expo has emerged as a vital Network for connecting Asia’s thriving tech ecosystem with the global innovation community. Now in its fifth year, BEYOND Expo is set to welcome over 30,000 attendees from more than 120 countries, marking its most impactful edition yet. The event continues to foster innovation, encourage cross-border collaborations, and empower businesses to establish themselves as global leaders.

“The BEYOND BGlobal Network reflects our unwavering commitment to enabling companies to achieve sustainable growth on the global stage,” said Dr. Gang Lu, Co-founder of BEYOND Expo. “As we celebrate five years of impact and growth, we are excited to take this transformative step in bridging Asia with the world.”

Looking Ahead

BEYOND Expo 2025 is more than a technology exhibition — it is a launchpad for businesses to achieve their global ambitions. The introduction of the BEYOND BGlobal Network, alongside the exciting highlights of the Closing Ceremony, will provide attendees with exclusive insights into how this initiative can redefine their approach to international growth and success.

To learn more about the BEYOND BGlobal Network, please leave your details with us here: https://www.beyondexpo.com/beyond-bglobal-network/. For ticket bookings or more information about BEYOND Expo 2025, visit www.beyondexpo.com.

About BEYOND Expo

The BEYOND International Technology Innovation Expo (BEYOND Expo) is Asia’s largest tech and innovation ecosystem expo, showcasing the culture and achievements of global technological innovation.

BEYOND Expo is not only a Network for displaying technological advancements but also a significant opportunity to drive industry upgrades. Through dedicated professional exhibition areas and vertical industry forums, BEYOND Expo is committed to fostering comprehensive development in technology and innovation while facilitating exchanges across various segments of the industry.

Since 2021, BEYOND Expo has attracted participation from Asia’s Fortune 500 companies, large multinational corporations, unicorn innovation firms, and emerging startups. By integrating companies, products, capital, and industries, it builds an innovative ecosystem aimed at collectively advancing the development of the Asia-Pacific region and the global technology innovation industry.

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SOURCE Beyond EXPO

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TPIsoftware Launches GreenSwift in Vietnam with Pilot Project Initiated to Drive ESG Transformation

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12 minutes ago

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December 26, 2024

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TAIPEI, Dec. 26, 2024 /PRNewswire/ — TPIsoftware (TWSE: 7781) and Vietnam’s key partners have signed an MOU to deepen collaboration in promoting a more sustainable, decarbonized future. The signing took place in Hanoi, Vietnam, on December 26, along with the product launch of GreenSwift, an AI-driven carbon management platform by TPIsoftware.

Led by TPIsoftware and Global Green Innovation Technology (GGI., Technology), a leading environmental consultancy offering specialized advice for GHG and ESG projects, the event convened government officials, the private sector and ESG experts in Vietnam, with Dr. Nguyen Kim Anh, Katina Capital Partners, ITD Group, Bao Long Insurance and ThinkTron Ltd signing the MOU.

The event culminated with a live demonstration of GreenSwift during which participants were presented with the platform’s key features such as automated carbon data collection that tracks seven GHG emissions covering Scope 1, 2 and 3 through a centralized platform, and linking multiple indicators using a cloud-based approach that improves carbon auditing efficiency.

GreenSwift is a SaaS-based carbon management platform with professional ESG consulting service and local support that equip enterprises for carbon disclosure and it is ideal for small and midsize businesses (SMBs) who seek to prioritize ESG initiatives. The platform features GHG reporting that complies with global frameworks (ISO 14064-1:2018 and IPCC) and meets regulatory compliance. GreenSwift enables eco-conscious enterprises to work towards net zero by aligning themselves with ESG values and best practices, elevating their brand image through long-term sustainability investment and strategic ESG initiatives.

Do Vuong Phong, TPIsoftware Vietnam’s General Manager, said: “We have been dedicated to helping enterprises navigate the challenges in their green transformation journey. With the Vietnamese government promoting ESG standards and sustainable business practices, launching GreenSwift not only enables enterprises in Vietnam to manage and measure their environmental impact, but also reaffirms our commitment to working with ESG-focused partners to build a greener future for Vietnam.”

The MOU signing followed TPIsoftware’s recent announcement of a pilot project to implement GreenSwift and ElectriSwift (AI Building Energy Conservation System) at Nam Cau Kien Eco-Industrial Park. Pham Hong Diep, Chairman of the industrial park, commented: “Building a partnership with TPIsoftware signifies our commitment to collaboratively develop and advance sustainability initiatives in climate action through tech-based approaches and solutions. This joint endeavor shows the shared vision of both parties towards leveraging cutting-edge technology to enhance energy efficiency and promote eco-friendly industrial practices in Vietnam.”

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SOURCE TPIsoftware

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