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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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Groundbreaking Study Explores THC Beverages as a Wellness Alternative to Alcohol

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PHILADELPHIA, April 10, 2025 /PRNewswire/ — MoreBetter, a leader in Real-World-Data collection and research, has announced a pioneering study aimed at understanding the impact of THC-infused beverages on alcohol consumption, mood, and overall quality of life. This innovative effort comes at a critical time, as alcohol sales are experiencing a decline, and as consumers are increasingly curious about trying “better-for-you” alcohol alternatives.

The observational research study is currently recruiting up to 2,000 qualified participants who will provide daily feedback over a three week period on their infused beverage and alcohol consumption patterns, as well as self-assessments on their overall quality of life. The study is sponsored by multiple leading beverage brands, who are collectively supplying participants with free infused beverage products to use throughout the course of the study.

“By collecting consumer-reported outcomes from thousands of consumers, over a multi-week basis, we provide brands and industry advocates with the Real World Data they need to understand how infused beverages are impacting consumers’ quality of life,” says MoreBetter COO, Tyler Dautrich.

“Our mission has always been to provide a healthier, more mindful way to enjoy social moments, and we believe this study will help us better understand and validate the positive impact of our product,” said Aaron Nosbisch, Founder and CEO at BRĒZ, a sponsor of the study.

Timely Research Supported by Industry Leaders

In January of 2025, the outgoing Surgeon General released the New Advisory Link Between Alcohol and Cancer Risk which outlined how alcohol is the third leading preventable cause of cancer, despite less than half of Americans recognising it as a risk factor for cancer. As consumers begin to seek alcohol alternatives, THC-Infused Beverage brands want to gain insight into how consumers are using their products and what perceived lifestyle benefits or wellness outcomes might result after consumption.

“The cannabis plant should be better researched, and we are hopeful that this is just the first step in learning how these products can improve people’s lives as acceptance, access, and consumption of infused beverages expands across the US,” said Adam Terry, CEO of Cantrip, also a sponsor of the study.

“This pioneering study reflects our commitment at Iconic Tonics to reshape the future of adult beverages—delivering functional, flavorful, and elevated alternatives that meet the moment. As more consumers explore mindful options, real-world data like this will be essential in understanding how THC-infused beverages are enhancing quality of life and transforming social rituals. Our partnership with MoreBetter isn’t just about validating our brands—it’s about leading a cultural shift with integrity, innovation, and style,” said Evan Eneman, CEO and co-founder of Iconic Tonics, alongside entertainment icon and entrepreneur Snoop Dogg.

While canned THC-Infused seltzers are the primary form factor being studied, MoreBetter will also investigate 750ml bottles used as mixers, dry powder mixes, and 1.5-2 oz “shots” in an effort to study how various doses and form factors impact consumer’s perceived experiences.

“Participating in this study allows us to stay at the forefront of innovation while helping to shape standards that prioritize safety, quality, and consumer education,” said Justin Tidwell, CEO of Nowadays, about sponsoring the study.

Join the Infused Beverage Study

Consumers over the age of twenty-one are invited to join the study and share their day-to-day experiences with using infused beverages. Individuals can check if they’re eligible for the study at this website: mystudi.es/bevstudy.

About MoreBetter

MoreBetter is a software and contract research organization (CRO) specializing in Real World Data collection on the use and performance of functional ingredients and consumer wellness products. Clients include dietary supplement manufacturers, federal and state government agencies, and global academic researchers. MoreBetter’s mission is to empower consumers to make data-informed decisions in pursuit of better personal health and wellness. Learn more at www.morebetter.ltd.

Contact Information

Tyler Dautrich
COO
MoreBetter
610-406-7505
tyler@morebetter.ltd
www.morebetter.ltd

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Six Red Marbles and T.I.B. Editorial Inc. Announce Strategic Partnership to Expand Spanish-Language Educational Offerings

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Six Red Marbles and T.I.B. Editorial Inc. have partnered to provide high-quality Spanish-language and bilingual K–12 educational materials. This collaboration expands SRM’s ability to offer full-service, multilingual solutions—supporting publishers, school districts, and dual-language programs with culturally responsive, research-backed content.

BOSTON, April 10, 2025 /PRNewswire-PRWeb/ — Six Red Marbles (SRM), a leader in innovative educational content and curriculum development, has partnered with T.I.B. Editorial Inc., a premier provider of Spanish-language editorial services, to enhance bilingual and dual-language educational materials for the K-12 market.

“Together, we’re bringing decades of expertise in Spanish-language publishing and bilingual education to ensure students receive engaging, high-quality literature tailored specifically for educational purposes and learning materials that support academic success in both English and Spanish.”

This partnership enables SRM to expand its service offerings by leveraging T.I.B. Editorial’s expertise in Spanish-language content development, bilingual education, and transadaptation. Through this collaboration, SRM and T.I.B. Editorial will provide high-quality Spanish-language instructional materials, including decodable readers, structured literacy programs, culturally responsive curriculum, multimedia learning tools, and much more.

This partnership also expands SRM’s ability to offer even more full-service solutions, ensuring that clients can execute large-scale, multilingual projects with a single, trusted partner. SRM’s proven expertise in full-service educational development, spanning instructional design, content creation, and digital learning solutions combined with T.I.B. Editorial’s deep knowledge of Spanish-language publishing and bilingual education, allows both organizations to deliver comprehensive learning experiences at scale.

“We’re thrilled to partner with T.I.B. Editorial and Andrés Pi Andreu, an award-winning bilingual author and curriculum expert,” said Bill Scroggie, EVP of Learning Solutions at Six Red Marbles. “This collaboration allows us to offer our clients an even broader range of services. With T.I.B.’s exceptional Spanish-language capabilities, SRM can now be a true one-stop shop for multilingual program development.”

The collaboration between SRM and T.I.B. Editorial aims to address the increasing demand for bilingual and Spanish-language education by offering:

Bilingual & Dual-Language Curriculum Development: Spanish-language materials aligned with best practices in cross-linguistic transfer, Science of Reading, and multimodal literacy.Decodable Readers & Structured Literacy Materials: Research-based resources designed to support Spanish-speaking and bilingual learners.Culturally Responsive Content & Heritage Spanish Programs: Authentic, engaging materials that reflect Latin and Hispanic cultures and diverse linguistic experiences.Spanish Translations & Transadaptations: Pedagogical adaptation of English materials into Spanish to ensure linguistic and cultural accuracy.Innovative Digital & Multimedia Learning Tools: Spanish-language e-learning solutions, interactive content, and bilingual voiceover services.

“This collaboration bridges a crucial gap in K–12 bilingual education,” said Andrés Pi Andreu, Founder of T.I.B. Editorial Inc. “Together, we’re bringing decades of expertise in Spanish-language publishing and bilingual education to ensure students receive engaging, high-quality literature tailored specifically for educational purposes and learning materials that support academic success in both English and Spanish.”

With this partnership, SRM and T.I.B. Editorial will offer publishers and educational institutions a full suite of bilingual content solutions, allowing them to tap into the rapidly growing Spanish-language education market. The collaboration will support dual-language programs, heritage Spanish speakers, and districts seeking culturally relevant instructional materials.

About Six Red Marbles

Six Red Marbles is a leading provider of innovative learning solutions, offering curriculum development, instructional design, and educational technology services to publishers, school districts, higher education institutions, and corporate learning programs. With a focus on research-backed pedagogy and engaging content, SRM delivers impactful learning experiences that meet the evolving needs of learners worldwide. Learn more at: https://www.sixredmarbles.com/

About T.I.B. Editorial Inc.

T.I.B. Editorial Inc. specializes in editorial services for the K-12 market, with expertise in Spanish-language content development, bilingual education, and transadaptation. Headquartered in Miami, T.I.B. Editorial provides publishers with high-quality Spanish-language instructional materials, decodable readers, heritage Spanish programs, and multimedia learning tools that align with state and district education standards.

For more information about the partnership, please contact:

Robin Zaccardo, Chief Experience Officer

Six Red Marbles

contact@sixredmarbles.com

Media Contact

Robin Zaccardo, Six Red Marbles, 1 8575889000, contact@sixredmarbles.com, https://sixredmarbles.com 

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SOURCE Six Red Marbles

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Smith Consulting Group Celebrates Fifteen Years In Business

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Smith Consulting Group Celebrates Fifteen Years Of Helping Banks and Credit Unions

LAKE MARY, Fla., April 10, 2025 /PRNewswire-PRWeb/ — Smith Consulting Group is celebrating fifteen years of helping banks and credit unions of all shapes and sizes overcome challenges and achieve success. Starting with just three people, Smith Consulting Group (“SCG”) has grown to a team of over seventy people consisting of the some of the most respected experts in the fintech and financial services industry.

“Technological advances, consumer demands, regulatory compliance, and other challenges require expertise that is difficult for banks and credit unions to manage internally in a cost and time effective manner. SCG continues to grow our team to meet these demands for our clients.” – Darren Smith, CEO

“It’s been an incredible journey for both SCG and our clients,” said Darren Smith, Founder and CEO of Smith Consulting Group. “The environment that banks and credit unions operate in has changed significantly over the last fifteen years, and it continues to change on an almost daily basis. Technological advances, evolving consumer demands and expectations, regulatory compliance, and other challenges require the addition of new areas of expertise that are almost impossible for banks and credit unions to manage internally in a cost and time effective manner. That is why SCG continues to grow our team to meet these demands for our clients.”

“I have known Darren for many years, including the time we spent together at Fiserv, and it has been inspiring to watch him build SCG and use his unique ability to stay ahead of the curve to the advantage of SCG’s clients,” said John Macaluso, Chief Operating Officer for Smith Consulting Group. “Under Darren’s leadership, SCG has assembled an unsurpassed team of experts that encompass everything banks and credit unions need to meet the demands of today’s banking environment. This team and their skills continue to adjust to make sure that whatever challenges a bank or credit union faces SCG can help them overcome them. Whatever comes next SCG will be ready for it, and so will our clients.”

About Smith Consulting Group: Our team of banking and credit union professionals have decades of experience dealing with all aspects of bank and credit union operations. In addition to our extensive work with banking software system conversions and implementations, our team also has a broad range of experience working with the various systems required in your bank’s operations including Core, Teller, Customer Service and Call Center Platforms, ECM Systems, Document Development and Delivery Systems, Online and Mobile Banking, and various other interfaces.

To learn more about Smith Consulting Group visit www.smithconsultinggrp.com, email them at info@smithconsultinggrp.com, or call 866-4-SmithGrp.

Media Contact

Darren Smith, Smith Consulting Group, 1 (321) 263-6955, darrensmith@smithconsultinggrp.com, smithconsultinggrp.com

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