Gunderson Dettmer Advises Synchronoss on Two Public Offerings and Private Placement
Gunderson Dettmer advised Synchronoss, a global leader and innovator of cloud, messaging and digital solutions, in a $110 million underwritten public offering of common stock, a $125 million underwritten public offering of bonds, and a $75 million private placement of preferred stock.
The two public offerings and private placement resulted in net proceeds of approximately $300 million, which were used to refinance the company’s capital structure.
In the announcement of the transaction, President and CEO of Synchronoss Jeff Miller said, “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 Gunderson deal team was led by Marc Dupre and included Keith Scherer, Frank Strumolo, John Maciejewski, Sienna White and Elizabeth Gimzewski.