---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-036895"
form_type: "8-K"
ticker: "RBBN"
cik: "0001708055"
company_name: "Ribbon Communications Inc."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T15:10:29.096299+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ribbon prices $53.4M preferred stock offering, amends credit agreement with $75M prepayment and covenant relief

## Summary
- Priced private placement of 55,000 Series A preferred shares at $970/share and ~4.3M warrants; gross proceeds ~$53.4M.
- Credit agreement amended: net leverage ratio raised to 4.50x through Q1 2024; fixed charge coverage ratio lowered to 1.10x.
- Will prepay $75M of Term Loan A principal; intends to use offering proceeds and cash on hand.
- LIBOR replaced with SOFR as interest rate benchmark under credit facility.
- Private placement expected to close March 30, 2023.

## SEC filing metadata
- accession: 0001104659-23-036895
- form_type: 8-K
- ticker: RBBN
- cik: 0001708055
- company_name: Ribbon Communications Inc.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708055/000110465923036895/0001104659-23-036895-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708055/000110465923036895/tm2310375d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-036895
- JSON: https://secwatch.observer/filing/0001104659-23-036895.json
- Plain text: https://secwatch.observer/filing/0001104659-23-036895.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.