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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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Where’s the Best Deal on the Block? Realtor.com® Launches Dynamic Map Layers to Help Homebuyers Find It and So Much More

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Homebuyers can now visualize hyperlocal insights and broader neighborhood trends to find their perfect home

SANTA CLARA, Calif., Sept. 24, 2024 /PRNewswire/ — Today, Realtor.com® announced the launch of dynamic map layers, a set of new map-based search features that allow users to answer classic home-buying questions like “Is this house the best deal on the street?” and “Where can I find the newest homes in a neighborhood?” or “Where are houses selling for a lower price per sqft.?” Now, users can explore multiple ZIP codes and neighborhoods with one quick glance and use this information to find the home they want.

Dynamic map layers deliver a unique zoom and pan experience that shows real-time visualizations of property data and neighborhood insights all in one map. When applied, each layer illustrates search parameters through color shading that represents aggregated data including market trends for a specific area. The shading dynamically adjusts to the property level as the user zooms in, and gets broader as they zoom out, adapting to highlight different data at each zoom level. Users can apply different map layers and access unique Realtor.com® econometric data, like market hotness, to find the best home options based on what they’re looking for.

“Do you remember when you bought your first smartphone and how it completely changed how you use a phone? Dynamic map layers are going to change how people search for homes online,” said Mausam Bhatt, Chief Product and Technology Officer, Realtor.com®. “They are an entirely new pathway to home discovery that allows buyers to answer their most pressing questions with a look at a map. They present data in an interactive way that is easy to use, easy to understand, and easy to make the most informed decisions with – so users can confidently choose the place they call home.”

Seventy-one percent of real estate website/app users think that more visual or map-based features could help them learn more about properties and compare homes more easily, according to a recent survey conducted by Realtor.com®. Ninety percent stated they would value being able to search for “home size” and “home value” via a map on a real estate search sites.

Whether it’s someone with a limited budget searching for the best buy in a specific area; a buyer who wants to understand the market competition of a home in order to make the best offer; or, a buyer who is comparing multiple neighborhoods so they can decide where to invest, Realtor.com® users can dive deeper and explore homes with the following layer options:

Home Estimate – the home’s current estimated value, powered by RealEstimatesmEstimate/ sqft. – the home’s current estimate total value divided by its total square footage, powered by RealEstimatesmLot Size – the property’s parcel size as measured in acresLot Slope – the property parcel’s average lot slopeHome Size – the size of the home measured in sqft.Year Built – the year the home was builtMarket Hotness – an index from 1-100 (very cool to very hot) indicating how quickly homes sell and the level of buyer demandSold Price vs. List Price – the sold price shown as a percentage of the original list price (based on properties sold in the last year)Sold Price/ sqft. – the home’s most recent sale price divided by its total square footageDays on Market – the time it takes properties to sell (based on properties sold in the last year)Neighborhood – display neighborhood boundaries and access details on the number of homes on the market, the median number of days homes spend on the market and the median list price within a neighborhood

Dynamic map layers offer unparalleled data visualization with dynamic zoom and pan functionality. By using these layers, users can get an equally holistic and granular view of a home’s characteristics and a neighborhood’s attributes.

About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.

Media Contact
Asees Singh press@realtor.com

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SOURCE realtor.com

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Socket Mobile Announces CaptureSDK Support for iOS 18

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FREMONT, Calif., Sept. 24, 2024 /PRNewswire/ — Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce that CaptureSDK and its entire line of barcode scanners and NFC reader/writers have been thoroughly tested and have achieved full compatibility with iOS 18.

iOS 18 compatibility across the entire Socket Mobile product line ensures that Apple users can maximize the utility of both their Socket Mobile data readers and their Bluetooth-paired Apple iPhones or iPads. CaptureSDK’s support for iOS 18 means that business applications continue to run smoothly on Apple’s latest platform, offering stability, efficiency, and access to the newest features. Users can seamlessly integrate the latest Apple advancements into their workflow and expect optimal performance from both devices.

“Socket Mobile has a strong track record of maintaining compatibility with Apple’s latest advancements and is devoted to supporting our app developer partners. We strive to provide ultimate device compatibility and best-in-class development tools,” said Dave Holmes, Chief Business Officer at Socket Mobile. “With iOS 18 support added to CaptureSDK, all users of our data capture devices can stay current with Apple’s latest technology while discovering new ways to leverage the power and versatility of our barcode scanners and NFC reader/writers.

“To ensure compatibility and to take full advantage of the features offered by our barcode scanners and NFC reader/writers, app development partners only need to upgrade their apps to the latest version of CaptureSDK whenever new updates are released. Our world-class support team is always available to ensure that their data capture solutions continue to work seamlessly. Combined with the quality of our products and dedicated support, this makes Socket Mobile’s CaptureSDK, along with our scanners and readers, an excellent choice for Apple device users.”

CaptureSDK has been integrated into thousands of applications and gives app providers reliable and consistent data capture performance, enabling their apps to efficiently capture data in the physical world. With CaptureSDK, app providers can maximize the value of their solution and increase their customer’s overall productivity and satisfaction. With CaptureSDK-enabled apps, end-users can interchange any of Socket Mobile’s data capture devices, resulting in the freedom to choose the best reader for each customer’s requirements at any given time. With iOS 18 compatibility, Socket’s CaptureSDK delivers a new level of control and adaptability for iOS app developers.

iOS compatibility will always be a focus for Socket Mobile as Apple continues to roll out new updates for its customers.

Learn More About CaptureSDK

Media Contact: David Holmes, David.holmes@socketmobile.com

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SOURCE Socket Mobile, Inc.

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JinkoSolar Unveils its First Climate White Paper at 2024 New York Climate Week

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SHANGRAO, China, Sept. 24, 2024 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its principle operating subsidiary Jinko Solar Co., Ltd.’s participation in the 2024 New York Climate Week, where we officially launch the English version of our first Climate White Paper*. This comprehensive report outlines our commitment to sustainability, innovative strategies to reduce carbon emissions, and actionable steps for creating a greener, more resilient future.

As one of the leading voices in the fight against climate change, JinkoSolar has long been dedicated to aligning its operations with global climate goals. The new White Paper not only highlights the progress we’ve made, but also identifies new opportunities in both the PV and BESS sectors to collaborate across industries to accelerate decarbonization and enhance sustainability efforts.

Meanwhile, Jinko Solar Co., Ltd. as a member of the Board of Directors of the Global Solar Council, is honored to be part of the Finance Roundtable and, together with the Global Solar Council, co-hosting the discussion for lowering solar PV cost. This roundtable brings together development and commercial banks, industry experts, policymakers, and business leaders in shaping the future of climate action. Our active participation underscores our firm belief that addressing the climate crisis requires bold and decisive action together with financial players.

JinkoSolar looks forward to continuing its leadership in the bankability and sustainability space and to driving meaningful change in the global effort to combat climate change.

*Note: Disclosed information in the report covers our principal operating subsidiary Jinko Solar Co., Ltd. and its subsidiaries. The report is available on the Company’s website at https://www.jinkosolar.com/en/site/responsibility.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions. 

JinkoSolar had over 10 productions facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-unveils-its-first-climate-white-paper-at-2024-new-york-climate-week-302256888.html

SOURCE JinkoSolar Holding Co., Ltd.

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