Ribbon Communications Inc. announced that it has entered into securities purchase agreement for the issue of 17,050,000 shares of common stock at a price of $3.05 for gross proceeds of $52,002,500 led by Neuberger Berman BD LLC on August 12, 2022. The transaction will include participation from Heights Capital Management, Inc., returning investors JPMorgan Chase & Co., and Swarth Investments L.L.C. The transaction is expected to close on or about August 16, 2022, subject to customary closing conditions. The securities were offered in the transaction under Section 4(a)(2) of the Securities Act of 1933, as amended, and have not been registered under the Securities Act, or applicable state securities laws.
The company will issue securities pursuant to exemption provided under Regulation D.