Nuance Announces Completion of Spin-Off of Cerence
Nuance Communications, Inc. (NUAN)
Last nuance communications, inc. earnings: 2/5 04:18 pm
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Source: GlobeNewswire
BURLINGTON, Mass., Oct. 01, 2019 (GLOBE NEWSWIRE) -- Nuance Communications, Inc. (NASDAQ: NUAN), a leading provider of conversational AI, announced that it has completed the spin-off of Cerence Inc. (NASDAQ: CRNC) as of 5:00 p.m. ET today. As a result, Nuance and Cerence are now separate publicly traded companies. Cerence’s common stock will begin trading “regular way” on Wednesday, October 2, 2019, on the Nasdaq Global Select Market under “CRNC”. Goldman Sachs & Co. LLC and Evercore served as Nuance’s financial advisors on the transaction, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Baker McKenzie served as Nuance’s legal advisors. In connection with the spin-off today, Nuance completed the previously announced redemption of all of the $300.0 million aggregate principal amount of its outstanding 6.000% Senior Notes on October 1, 2019 (the “Redemption Date”) at a redemption price equal to 104.500% of the principal amount of the 6.000% Senior Notes, plus accrued and u
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