STAMFORD, Conn.--(BUSINESS WIRE)--Apr. 22, 2019--
Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides
commerce solutions in the areas of ecommerce, shipping, mailing,
finance, and data, today called for redemption of all of its outstanding
shares of 4% Convertible Cumulative Preferred Stock and $2.12
Convertible Preference Stock.
The 4% Convertible Cumulative Preferred Stock and $2.12 Convertible
Preference Stock will be redeemed on June 18, 2019. The redemption price
for the 4% Convertible Cumulative Preferred Stock will be $50 per share,
plus the portion of the quarterly dividend accrued as of June 18, 2019
and any unpaid dividends. The redemption price for the $2.12 Convertible
Preference Stock will be $28 per share, plus the portion of the
quarterly dividend accrued as of June 18, 2019 and any unpaid dividends.
Holders of the 4% Convertible Cumulative Preferred Stock have the right
to convert each share of 4% Convertible Cumulative Preferred Stock into
24.24 shares of PBI common stock in lieu of the redemption prior to 5:00
PM Eastern Time on June 18, 2019. Holders of the $2.12 Convertible
Preference Stock have the right to convert each share of $2.12
Convertible Preference Stock into 16.53 shares of PBI common stock in
lieu of the redemption prior to 5:00 PM Eastern Time on June 17, 2019.
A notice of redemption containing additional information regarding the
redemption and the conversion rights will be delivered to all holders of
the 4% Percent Convertible Cumulative Preferred Stock and $2.12
Convertible Preference Stock.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing
commerce solutions that power billions of transactions. Clients around
the world, including 90 percent of the Fortune 500, rely on the accuracy
and precision delivered by Pitney Bowes solutions, analytics, and APIs
in the areas of ecommerce fulfillment, shipping and returns;
cross-border ecommerce; office mailing and shipping; presort
services; location data; customer information and engagement software;
services; and financing. For nearly 100 years Pitney Bowes has been
innovating and delivering technologies that remove the complexity of
getting commerce transactions precisely right. For additional
information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.
Forward Looking Statements
This press release contains “forward-looking statements” about the
Company’s intention to redeem the Notes. These forward-looking
statements are subject to a number of risks and uncertainties, many of
which are beyond the Company's control, which could cause the Company's
actual results to differ materially from those included in the Company's
forward-looking statements. Please see the Company's risk factors, as
they may be amended from time to time, set forth in its filings with the
Securities and Exchange Commission, including the Company's most
recently filed Annual Report on Form 10-K. The Company assumes no
obligation to update any forward-looking statements contained in this
document as a result of new information, events or developments.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190422005102/en/
Source: Pitney Bowes Inc.
Bill Hughes – Media Relations
203-351-6785
William.Hughes@pb.com
Adam David – Investor Relations
203-351-7175
Adam.david@pb.com
