Synchronoss Technologies (SNCR) to Offer $100M in Common Stock

Synchronoss Technologies, Inc. (NASDAQ: SNCR) today announced that the Company intends to offer and sell, subject to market and other conditions, $100 million of shares of its common stock in an underwritten public offering. Synchronoss also expects to grant the underwriters a 30-day option to purchase up to an additional $10 million of shares of common stock sold in the offering, at the public offering price, less the underwriting discounts and commissions. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

All of the shares in the offering are to be sold by Synchronoss, with net proceeds of the offering, and from the offering of Senior Notes and sale of Series B Preferred Stock (each as described below), expected to be used to fully redeem all outstanding shares of Synchronoss’ Series A Convertible Participating Perpetual Preferred Stock and repay amounts outstanding under Synchronoss’ revolving credit facility.

B. Riley Securities, Inc. (“BRS”) is acting as the lead underwriter and sole book-running manager for the offering. Northland Capital Markets is acting as co-manager for the offering.

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