Synchronoss Announces Closing of $235 Million of Common Stock and Senior Notes Offerings

In addition, Synchronoss raised $75 million through a
private placement of preferred stock

Net proceeds used to refinance the company’s capital structure

BRIDGEWATER, N.J. , June 30, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, today announced that on June 29, 2021 it closed an underwritten public offering of 42,307,692 shares of common stock, which included 3,846,154 shares issued in connection with the underwriters’ option to purchase additional shares, at a price to the public of $2.60 per share, for gross proceeds of approximately $110 million. The Company also announced that on June 30, 2021 it closed an underwritten public offering of $125 million aggregate principal amount of 8.375% senior notes due 2026, which included $5 million aggregate principal amount of senior notes issued in connection with the underwriters’ option to purchase senior notes. Gross proceeds for both offerings are exclusive of underwriting discounts and commissions and estimated offering expenses payable by the Company.

Synchronoss and the senior notes both received a rating of BB- from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The notes are expected to begin trading on the Nasdaq Global Select Market under the symbol “SNCRL” as early as July 1, 2021.

In addition to the public offerings, on June 30, 2021 the Company closed a private placement of 75,000 shares of its Series B Perpetual Non-Convertible Preferred Stock to B. Riley Principal Investments, LLC for an aggregate purchase price of $75 million.

The two public offerings and the private placement resulted in net proceeds of approximately $300 million after deducting underwriting discounts and commissions, but before expenses. On June 30, 2021, the Company used the net proceeds in part to fully redeem all outstanding shares of its Series A Convertible Participating Perpetual Preferred Stock owned by an affiliate of Siris Capital Group and to repay amounts outstanding under the Company’s revolving credit facility.

“Synchronoss has emerged from this comprehensive refinancing process with a solid financial foundation that will support our mission to empower our customers to connect with their subscribers in trusted and meaningful ways,” said Jeff Miller, President and CEO of Synchronoss. “Today we have a sustainable financial environment that gives us the operating flexibility required to invest in delivering and enhancing great cloud, messaging and digital experiences for our customers; to enable long-term growth; and to deliver higher stockholder value to those who invest in the company.”

The refinancing has also led to the departure of Synchronoss Board of Directors members Frank Baker, Peter Berger and Robert Aquilina, each of whom is associated with Siris Capital Group. “On behalf of the entire Board and management, I would like to thank Frank, Peter and Bob for their contributions to Synchronoss over the last three years and for their generosity as advisors to me personally,” said Miller.

In conjunction with this new capitalization, B. Riley Financial, Inc., including certain of its affiliates, serve as Synchronoss’ anchor investor. Synchronoss has granted B. Riley representation on its Board.

Bryant Riley, Chairman and Co-CEO of B. Riley Financial, Inc., commented: “We are pleased to serve as a strategic partner and financial sponsor to Synchronoss on this capitalization and are committed to leveraging the full operational and financial capabilities of our platform to support Synchronoss in its strategy to deliver value. We look forward to continuing to work closely with Jeff and the entire management team as Synchronoss enters this exciting new phase for its business.”

B. Riley Securities, Inc., acted as the lead underwriter and sole book-running manager for the common stock offering. Northland Capital Markets acted as co-manager for the common stock offering.

B. Riley Securities, Inc. acted as the sole book-running manager for the senior notes offering. Northland Capital Markets, Aegis Capital Corp. and EF Hutton, a division of Benchmark Investments, LLC acted as lead managers for the senior notes offering.

The common stock and senior notes were offered under the Company’s shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission (“SEC”) on August 28, 2020. The offerings were made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the accompanying base prospectus for the offering may be obtained on the SEC’s website at www.sec.gov, or by contacting B. Riley Securities by telephone at (703) 312-9580, or by email at prospectuses@brileyfin.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Synchronoss

Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements regarding the closing of the public offering and the anticipated use of the proceeds thereof. These forward-looking statements are subject to a number of risks, including the satisfaction of customary closing conditions related to the public offering and the risk factors set forth from time to time in Synchronoss’ SEC filings, including but not limited to the risks that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections (as applicable) of Synchronoss’ Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form 10-Q for the period ended March 31, 2021, which are on file with the SEC and available on the SEC’s website at www.sec.gov. In addition to the risks described above and in Synchronoss’ other filings with the SEC, other unknown or unpredictable factors also could affect Synchronoss’ results. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Synchronoss undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Contacts

Media
Anais Merlin, CCgroup (International)
Diane Rose, CCgroup (North America)
synchronoss@ccgrouppr.com

Investors
Todd Kehrli/Joo-Hun Kim, MKR Investor Relations, Inc.
investor@synchronoss.com

The International Action Centre issues the following statement on: CAPE VERDE TAKES ON THE UNITED NATIONS

PRAIA, Cape Verde, June 30, 2021 (GLOBE NEWSWIRE) — In a decision on interim measures dated June 8, the United Nations Human Rights Committee called on Cape Verde to “refrain from extraditing Mr. Alex Saab to the United States of America” and to “take all necessary measures to ensure access to appropriate health care […] by independent and specialized physicians of his choice”. This decision ordering interim measures is the first urgent step resulting from the registration of a complaint filed by Alex Saab before United Nations Human Rights Committee.

In an interview on June 29, 2021, the Cape Verdean Prosecutor General, Mr Jose Luis Landim, makes a frontal attack on the United Nations, claiming that the UN Human Rights Committee does not have the competence to impose the suspension of the extradition of Alex Saab from Cape Verde to the United States of America.

Such a position is alarming and is a legal, strategic and ethical mistake.

First, this position is completely wrong in law. We would like to remind Mr Landim that Cape Verde has chosen to ratify the International Covenant on Civil and Political Rights since August 6, 1993 and the Optional Protocol to the International Covenant on Civil and Political Rights since May 19, 2000. It must therefore comply with its international obligations in good faith and fully respect the decisions of the expert body responsible for interpreting the International Covenant on Civil and Political Rights, the Human Rights Committee. Saying that the Committee does not have the power to request the suspension of an extradition that may expose someone to risks of irreparable harms and of violations of the right to life and right of physical integrity, is an unforgivable legal error totally incompatible with the rule of law.

Second, such a position is a frontal attack on the United Nations and the human rights that are at the heart of the values that the Organization defends. It sends a clear message to the world that Cape Verde can exercise its sovereignty to violate human rights while ignoring the norms of international human rights law to which it has subscribed and ignoring international decisions. In doing so, Cape Verde, after defying the ECOWAS Court of Justice which ordered it to release the arbitrarily detained Alex Saab, after violating Alex Saab’s diplomatic immunity as a Special Envoy and an Ambassador to the African Union, is taking a hostile stance towards the United Nations and placing itself on the outside of the international community.

Third, such a position is a mistake in terms of fundamental ethical values. By requesting the suspension of Alex Saab’s extradition pending the examination of the merits of the case, the Human Rights Committee was inviting Cape Verde to show humanity and common sense by considering that the extradition would be detrimental to the physical integrity and life of Alex Saab. The Committee did not take a political position, but a purely humanitarian one.

MEDIA Contact:
Sara Flounders
International Action Center
Https://www.iacenter.org
E-mail: iacenter@iacenter.org
Tel: +1 212-633-6646

LaLiga announces collaboration with Al Ahly

Through its educational department, LaLiga Business School, LaLiga will be collaborating with one of the biggest football clubs in Africa, Al Ahly SC, to launch a course within its MBA program. The course is set to launch in Madrid, starting November 2021.

LaLiga’s “The MBA of LaLiga”, is focused on preparing people who want to lead change in the sports and entertainment industry, and features the participation of top professionals in the sports industry. It will draw from case studies from across LaLiga and its 42 clubs, as well as from other sports, entertainment stakeholders and technological and digital environments, employing first-hand cutting-edge methodologies together with LaLiga’s own operational techniques and efficient mechanisms.

During the course, a case study will be conducted about Al Ahly SC, titled: “From regional leadership to international prestige: the journey of the African Club of the 20th Century with the biggest fan base.”

Egyptian superclub Al Ahly will play in the CAF Champions League final against South Africa’s Kaizer Chiefs in Casablanca on 17 July 2021.

“Our partnership with Al Ahly SC will provide a fresh international mindset to the world of football as our aim within this program is to help professionalise the global sports industry and to capture the talent of today and tomorrow. The more internationally qualified and diverse people we have working in the industry, the better-equipped football will be for growth,” says José Moya, Director of LaLiga Business School.

Secured internships and international field trips to New York and Miami are some of the other interesting benefits of the program, alongside practical sessions with managers from top worldwide clubs and organisations such as Al Ahly SC, Premier League, Serie A, and the MLS.

“Our mission in Egypt is to foster strategic collaborations such as this. Our relationship with Al Ahly SC has been strong since the very start, and we look forward to collaborating on bigger projects in the coming future,” says Juan Fuentes, Delegate of LaLiga in Egypt.

The program contains six complete modules including Management in the sports industry, new marketing, digital and technological disruption, media and entertainment, major sports events, innovation, and entrepreneurship. While each course is built upon the same values and with the same objectives, the speakers are varied and students will learn from experts specific to each country, in addition to 20 hours of instruction from LaLiga teachers.

The MBA is open to international applicants, including Egyptians. Students from all over the world are expected to join the program and places are limited to ensure the quality of the Master and the personalised attention to each of the attendees. The program will run in Madrid from November 2021 until July 2022 and will be taught completely in English.

“Whether they are already working within football or brand new to the industry, we’re offering courses that were not previously available and can help people approach football with a fresh business mindset,” Moya added.

People interested in the program can find out more through the following link: https://business-school.laliga.com/en/the-mba-of-laliga

Source: Modern Ghana

President Akufo-Addo is fixing the country with youth driven policies – Razak Opoku

Accra, July.1, GNA – Mr Razak Kojo Opoku, a member of the New Patriotic Party has said, President Nana Addo Dankwa Akufo-Addo believes in Ghana and the great potentials of the Ghanaian Youth which is why almost 70 per cent of his policies and programmes are Youth driven.

He said the Free Senior High School, One-District-One-Factory, Digitalization, Free Technical Vocational Education, the Planting for food and jobs, Restoration of Allowances for Teachers and Nursing Trainees, Reviving Scholarship Secretariat, the Nation Builders Corps, Youth in Afforestation, NEIP, the Amplified Projects (the Amplified Business, Success and Social), the Presidential Pitch and recently the Ghana Enterprises Agency were all youth driven.

In an interview with the media in Accra on Thursday, Mr Razak Opoku said President Akufo-Addo’s administration was the only Government in the fourth republic to champion youth driven policies and programmes in the areas of Empowerment, Employment, Mentorship, Training and Development.

He said the call to Fix the Country was in the right direction, but certainly the Callers must understand and appreciate the fact that President Akufo-Addo was on course in fixing the errors of previous Governments, and at the same time gradually transforming the economy to the appreciable satisfaction of Ghanaians, adding that, “As individuals we must collectively fix our attitudes, needless sabotage, and be innovative in our thinking and ways of doing things.”

Mr Razak Opoku said most of the youth in Ghana were positively using the internet to contribute to the Akufo-Addo’s agenda of digitalization, whereas others are using the internet to watch pornography, movies, posting of videos and photos, talking meaningless on social media platforms etc.

He said , it was the responsibility of the Government to create the enabling environment for the citizens to actualize their respective potentials and creativity and that President Akufo-Addo has delivered on that by creating the enabling environment for the youth to grow and participate in the economy such as the Digitalization Concept.

Mr Razak-Opoku said it was up to the Youth to stop wasting their precious time and talents on needless politically sponsored confrontations, demonstrations etc. under the pretense of “FixTheCountry,” and focus on taking advantage of the Akufo-Addo’s youth policies and programmes to collectively. contribute meaningfully in fixing the Country together.

He said President Akufo-Addo was on the right path to fixing the country, and certainly, Ghana would continue to be fixed by subsequent Governments to the optimal standards of socio-economic development and financial transformation.

Source: Ghana News Agency

We will not tolerate homosexuality – GPCC

Accra,- Reverend Paul Frimpong-Manso, President of the Ghana Pentecostal and Charismatic Council (GPCC) has said the Council will not tolerate any lifestyle that would bring the name of the Christian body into disrepute.

He said the Council would keep harmering and nforming the Ghanaian community that Lesbian Gay, Bisexual, Transgender, Queer and Intersex (LGBTQI) was “wrong, foreign, unnatural and ungodly”, and the society must frown upon it.

Rev. Frimpong-Manso added that the Council had proposed a legislation that prohibited the practice of homosexuality in the country, awaiting approval by Parliament.

“We have joined a Coalition to protest against this LGBTQI because we support proper human sexual ity, “he said.

He made the statement at the Council’s National Delagates Conference in Accra, to discuss the affairs of the Council and deliberate on effective ways to serve the Church, nation and society at large.

Addressing issues related to security in the country, he appealed to government to provide support, funds and the appropriate resources and gadgets to security agencies to enable them execute their roles effectively.

“The Police and other security agencies are doing their best, but it is not enough and so let us not chastise them, but rather encourage them to beef up their strategies in discharging their duties to make us feel more secure”, he said.

Rev Frimpong-Manso said the mandate of the Council was to reached out to those without the gospel, support the churches and also cooperate and support government in national development..

A total of 21 new applicants were presented and admitted on two years probation, and thirten members who had gone through monitoring for two year on probation with good standing orders by the council were confirmed as members.

Reverend Sam Korankye Ankrah, first Vice President of the Council, formally received the new members and charged them to be accountable, responsible and committed, adding that the Association would help and direct them on good Christian practices.

He charged Christians to live decent and moral lives in their communities draw men to Christ.

Apostle Eric Nyamekye, Chairman of the Church of Pentecost, and the second Vice President of GPCC, said doctrinal differences with other churches coming together under an umbrella, made it difficult to control members, but the Council was committed to encouraging and correcting members to help build a kingdom and not a denomination.

He added that the GPCC had the opportunity to meet with the regional statisticians to educate their members on the 2021 National Population and Housing Census and therefore charged the Christian fraternity to avail themselves to be counted.

Apostle Nyamekye encouraged Ghanaians to participate in the ongoing census and cooperate well with the enumerators who were spearheading the exercise with accurate data.

“When they come to your home, don’t drive them away, receive them and cooperate with them because this is an important exercise to the Christian kingdom to get the right number of the population, and also know places we can evangelize and build churches depending on the population”, he said.

In an interview with the Ghana News Agency, Bishop Stephen Owusu Jackson, Chairman of Christian Praise Interntional Center, (CPIC), who had been confirmed as a member of GPCC, said he was previleged to be part of a Christian body that had rules and principles and a voice that spoke on behalf of the Church.

GPCC is a faith-based Organization, and the umbrella with over 240 registered Pentecostal and Charismatic Christian church denominations and para-churches in Ghana, with 13 new members being confirmed to membership and 21 other churches put on probation.

The conference brought together National Executive Council Members of the Council across the country.

Source: Ghana News Agency

PHC exercise is purely for national planning and development – Ablakwa

Battor (V/R), – Mr Samuel Okudzeto Ablakwa, Member of Parliament (MP) for North Tongu, says the ongoing Population and Housing Census (PHC) is for national planning and development.

He said the exercise had no political connotations and asked the public to reject such misinformation.

Mr Ablakwa, who was speaking to the media after touring some part of his constituency, called on everyone to ensure that the exercise was done in the spirit of national unity and achieve the needed result.

He said interaction with some field officers revealed that some people were not cooperating with the enumerators because they thought the exercise aimed at identifying people, especially people purported to be linked to the secessionists’ group.

Mr Ablakwa said these conspiracy theories had no basis and urged the populace to ignore them and avail themselves to be counted.

The MP said accurate and reliable data was a sine qua non for pursuing a scientific development, therefore, the PHC was essential to obtain such data for national planning and development.

Source: Ghana News Agency

How to bet and win big on Msport! – A beginner’s guide

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Top of Form

Source: Ghana Web

Let’s work closely as traditional leaders to develop Region – Paramount Chief

Senya Bereku (C/R), – Neenyi Kwaku Issiw I, the Omanhen of Senya Bereku Traditional Area, has called on all paramount chiefs in the Central Region to eschew chieftaincy disputes and work closely to develop the Region.

“We have roles to play as chiefs and traditional rulers in the development of the Region, therefore, let’s set aside all chieftaincy issues and focus on that goal,” he said.

Neenyi Issiw made the call when the Central Regional Minister, Mrs Justina Marigold Assan, paid a courtesy call on him at his palace to officially introduce herself and seek support in developing the Region.

The Minister is touring the Region to seek support and also acquaint herself with emerging issues to find ways to address them.

He said misunderstandings, conflicts, and disputes among traditional authorities had hindered the growth and development of the country.

He, therefore, called on the Chiefs to resolve the misunderstanding amicably to ensure peace, unity, stability, and collaboration in achieving the goal of transforming the lives and living standards of the populace.

Neenyi Issiw said pushing forward the agenda of development in the Region demanded concerted efforts of stakeholders and urged the chiefs to support the move.

The Minister also visited the Acting President of the Senya Bereku, Ipi Kwa Bentum, who expressed concern about the long-standing chieftaincy disputes, which was stifling the development of Bereku.

He called on the Minister to expedite action towards resolving the outstanding issue pending to bring back peace, unity, and harmony in the area.

Ipi Bentum urged the government to fulfil its promise of building a landing site and harbour in Bereku to enhance economic activities and reduce the unemployment rate in the town.

Senya Bereku Traditional Area has a long-standing chieftaincy dispute with two chiefs both of whom are not ready to abdicate the throne.

At the Awutu, Abukuade Agyemang Wefe Otabil III, Paramount Chief of the area, appealed to the Minister to engage relevant stakeholders to construct their deplorable roads.

He called on the Forestry Commission (FC) to step up efforts to save the forest reserves from perpetrators, cutting down and destroying their lands.

He identified youth unemployment as a major challenge in the area and, therefore, appealed to the Minister to lobby for jobs to improve the lives and increase the standard of living of the people.

Mrs Assan assured the chiefs separately at their palaces that necessary actions to resolve issues to bring back peace would be taken and called for calm and patient.

She explained that the President had termed this year as the second year of roads, adding that she would engage with the sector Minister to construct the roads.

Mrs Assan called on the paramount chiefs to support, advise and counsel her to be able to transform the Region collectively.

Source: Ghana News Agency