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Nuance Announces “When-Issued” Trading in Connection with Upcoming Spin-Off

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Nuance Announces “When-Issued” Trading in Connection with Upcoming Spin-Off
BURLINGTON, Mass., September 16, 2019 - Nuance Communications, Inc. (NASDAQ: NUAN) (“Nuance”), a leading provider of conversational AI, today announced that, in connection with the previously announced spin-off of Cerence Inc. (“Cerence”), it has been advised by Nasdaq that shares of Cerence common stock begin trading today on a “when-issued” basis on the Nasdaq Global Select Market under the symbol “CRNCV” and will continue through October 1, 2019 (the “Distribution Date”). Sales and purchases of Cerence common stock on a “when-issued” basis are made conditionally on the distribution of the shares, and the sales and purchases generally settle within three trading days after the Distribution Date. Following the Distribution Date, shares of Cerence common stock are expected to trade “regular-way,” at which time Cerence common stock will trade under the symbol “CRNC” on the Nasdaq Global Select Market.

Nuance has also been advised by Nasdaq that shares of Nuance common stock begin trading today on an “ex-distribution” basis on the Nasdaq Global Select Market under the symbol “NUANV” and will continue through the Distribution Date. Shares of Nuance common stock that trade in the “ex-distribution” market will trade without an entitlement to shares of Cerence common stock distributed in the spin-off. At the same time, Nuance shareholders who sell shares of Nuance common stock in the “regular-way” market up to and including the Distribution Date will be selling their right to receive shares of Cerence common stock in the spin-off. Nuance shareholders are encouraged to consult with their financial advisors regarding the specific implications of buying or selling Nuance common stock on or before the Distribution Date.



https://www.nuance.com/about-us/newsroom/press-releases/2019/Nuance-Announces-When-Issued-Trading-in-Connection-with-Upcoming-Spin-Off.html

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