Sonus Networks, Inc. Buyback
OLI recorded this information on 3/20/2014
Sonus Networks, Inc.
Shares Announced Repurchased:
In addition, subject to the completion of the offering, Sonus intends to repurchase from the underwriter approximately $75 million of its common stock at a price per share equal to the price per share to be paid by the underwriter to the Legatum Group in the underwritten offering. Sonus intends to fund the share repurchase with cash on hand. The repurchased shares will no longer be outstanding following completion of this offering. - updated 3/21 - In addition, Sonus will repurchase from the underwriter approximately 21.5 million shares of its common stock that are subject of the offering at approximately $3.49 per share, which is equal to the price per share to be paid by the underwriter to the Legatum Group in the underwritten offering. Sonus intends to fund the share repurchase with cash on hand. The repurchased shares will no longer be outstanding following completion of this offering. The offering and the share repurchase are expected to close on or about March 25, 2014.
Sonus Networks provides networked solutions worldwide. Co. offers Session Border Controllers (SBCs) that address security and interworking requirements for small, medium, and large businesses, as well as regional and global communications service providers; Sonus GSX9000 Open Services Switch, which bridges IP and TDM networks by converting voice signal into Internet Protocol (IP) IP packets and transmitting those IP packets on a data network; and Sonus T7000 Intelligent Switching System, a class five end-office soft switch that provides residential and business voice services, as well as IP-IP multimedia processing engine services. Co. also provides Diameter Signaling Controller.
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Buy (2.80 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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