UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): December 6, 2017
SYNCHRONOSS TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
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000-52049 |
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06-1594540 |
(State or Other Jurisdiction |
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(Commission |
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(IRS Employer |
200 Crossing Boulevard, 8th Floor |
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08807 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: (866) 620-3940
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01. Other Events.
On December 6, 2017 Synchronoss Technologies, Inc. (the Company) received a letter from the Hearings Department of The Nasdaq Stock Market (Nasdaq) granting the Companys request to extend the stay of suspension pending a hearing before the Nasdaq Hearings Panel (the Panel), in late January 2018, and issuance of a final Panel decision.
The Company issued a press release on December 6, 2017 disclosing the stay of suspension and receipt of the letter, a copy of which is attached hereto as Exhibit 99.1.
Forward-Looking Statements
Certain statements either contained in or incorporated by reference into this report, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as expects, anticipates, intends, plans, believes, seeks, estimates, outlook or words of similar meanings. These statements are based on our current expectations and beliefs and various assumptions. There can be no assurance that we will realize these expectations or that these beliefs will prove correct. Examples of forward-looking statements include, but are not limited to, statements we make regarding the Companys plan to regain compliance with Nasdaqs Listing Rules. Numerous factors, many of which are beyond our control, could cause actual results to differ materially from those expressed as forward-looking statements. These factors include, but are not limited to, risks associated with fluctuations in our financial and operating results; integration of our Intralinks business and execution of our cost reduction plan; our substantial level of debt and related obligations, including interest payments, covenants and restrictions; uncertainty regarding increased business and renewals from existing customers; the dependence of our Intralinks business on the volume of financial and strategic business transactions; disruptions to the implementation of our strategic priorities and business plan caused by changes in our senior management team; customer renewal rates and attrition; customer concentration; our ability to maintain the security and integrity of our systems; foreign currency exchange rates; the financial and other impact of previous and future acquisitions; competition in the enterprise and mobile solutions markets; our ability to retain and motivate employees; technological developments; litigation and disputes and the costs related thereto; unanticipated changes in our effective tax rate; uncertainties surrounding domestic and global economic conditions; other factors that are described in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of the Companys Annual Report on Form 10-K for the year ended December 31, 2016, which is on file with the SEC and available on the SECs website at www.sec.gov. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
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Description |
99.1 |
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Press Release of Synchronoss Technologies, Inc. dated December 6, 2017. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 7, 2017 |
SYNCHRONOSS TECHNOLOGIES, INC. | ||
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By: |
/s/ Lawrence R. Irving | |
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Name: |
Lawrence R. Irving |
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Title: |
Chief Financial Officer |
FOR IMMEDIATE RELEASE
Synchronoss Technologies Receives Nasdaq Letter
Nasdaq Extends Stay of Delisting Pending Hearing Scheduled in Late January 2018
BRIDGEWATER, N.J.December 6, 2017 Synchronoss Technologies, Inc. (Synchronoss or the Company) (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital transformation products, today announced that it has received a letter from the Hearings Department of The Nasdaq Stock Market (Nasdaq) granting the Companys request to extend the stay of suspension pending a hearing before the Nasdaq Hearings Panel (the Panel), in late January 2018, and issuance of a final Panel decision.
As previously disclosed, at the hearing in late January 2018, the Company will present its plan to regain compliance with the Nasdaq Listing Rules and will request the continued listing of its common stock on Nasdaq while it works to become current in its periodic public filings with the Securities and Exchange Commission. Under the Nasdaq Listing Rules, the Panel may, in its discretion, determine to continue the Companys listing for a maximum of 180 days from the date of the Nasdaq delisting notice, which was issued on November 15, 2017. There can be no assurance that the Panel will grant the Companys request.
About Synchronoss Technologies, Inc.
Synchronoss (NASDAQ: SNCR) is an innovative software company that helps both service providers and enterprises realize and execute their goals for mobile transformation now. Our simple, powerful and flexible solutions serve millions of mobile subscribers and a large portion of the Fortune 500 worldwide today. For more information, visit us at www.synchronoss.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as expects, anticipates, intends, plans, believes, seeks, estimates, outlook or words of similar meanings. These statements are based on our current expectations and beliefs and various assumptions. There can be no assurance that we will realize these expectations or that these beliefs will prove correct. Examples of forward-looking statements include, but are not limited to, statements we make regarding the Companys plan to regain compliance with Nasdaqs Listing Rules. Numerous factors, many of which are beyond our control, could cause actual results to differ materially from those expressed as forward-looking statements. These factors include, but are not limited to, risks associated with fluctuations in our financial and operating results; our debt and related obligations, including interest payments, covenants and restrictions; disruptions to the implementation of our strategic priorities and business plan caused by changes in our senior management team; litigation and disputes and the costs related thereto; and other factors that are described in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of the Companys Annual Report on Form 10-K for the year ended December 31, 2016, which is on file with the Securities and Exchange Commission (the SEC) and available on the SECs website at www.sec.gov. The Company does not
undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
Investor and Media:
Synchronoss Technologies, Inc.
Investor Relations
+1 800-575-7606
investor@synchronoss.com
or
Joele Frank, Wilkinson Brimmer Katcher
Amy Feng / Scott Bisang / Greg Klassen
+1 212-355-4449