Ribbon Communications updates on SVB closure; ~$4M in customer deposits stuck, expects full recovery

Ribbon Communications Inc.

SVB was a lender under Ribbon's Senior Secured Credit Facilities and held some deposit accounts.
Company withdrew deposits before SVB closure on March 9, but ~$4M in customer payments arrived afterward.
Ribbon expects to recover remaining deposits, citing FDIC statements; cash spread across multiple large banks.
Company does not expect SVB closure to have a significant impact on operations or liquidity.
Believes existing cash, cash flow, and credit facility sufficient for working capital and obligations for at least 12 months.

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