Benzinga | May 28, 2021 10:50AM EDT

Nuance Swaps Equity for Long-Term Senior Convertible Debt

* Nuance Communications Inc (NASDAQ:NUAN) forged additional agreements with certain investors to exchange 4.2 million shares and $1.1 million in cash for $102.2 million 1% senior convertible debentures due 2035 held by the investors.

* On May 26, Nuance inked an agreement with certain investors to exchange 14.7 million shares and $4 million in cash for $354.8 million for 1% senior convertible debentures due 2035 held by the investors.

* A concurrent agreement was made with certain investors to exchange 3.2 million shares and $0.5 million in cash for $64.9 million 1.50% senior convertible debentures due 2035 held by the investors.

* Following the above swaps, Nuance holds $219.5 million in debentures outstanding.

* NUAN's had stock gained 133% in the last year.

* Price action: NUAN shares traded lower by 0.30% at $52.61 on the last check Friday.