Pitney Bowes Inc. Announces Redemption of Pitney Bowes International Holdings, Inc. Voting Preferred Stock, Series F
STAMFORD, Conn., September 26, 2016 - Pitney Bowes Inc. (NYSE:PBI) (the “Company”) today announced that its subsidiary Pitney Bowes International Holdings, Inc. (“PBIH”) intends to redeem all outstanding shares of its Voting Preferred Stock, Series F, par value $0.01 per share (the “Preferred Stock”) on November 1, 2016 (the “Redemption Date”).
Pursuant to the terms of the Certificate of Designation governing the Preferred Stock, the Preferred Stock is planned to be redeemed on the Redemption Date at a redemption price per share equal to $1,000.5104, representing a redemption price of $1,000 per share of Preferred Stock plus an amount equal to all accumulated and unpaid dividends to the Redemption Date.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
This document contains “forward-looking statements” about PBIH’s intention to redeem the Preferred Stock. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to: administrative difficulties in effecting the redemption of the Preferred Stock; mail volumes; the uncertain economic environment; timely development, market acceptance and regulatory approvals, if needed, of new products; fluctuations in customer demand; changes in postal regulations; interrupted use of key information systems; the ability to protect the Company’s information technology systems against service interruptions, misappropriation of data, or breaches of security resulting from cyber-attacks or other events; management of outsourcing arrangements; the implementation of a new enterprise business platform; changes in business portfolio; the success of our investment in rebranding the Company; the risk of losing some of the Company’s larger clients in the Global Ecommerce segment; integrating newly acquired businesses, including operations and product and service offerings; foreign currency exchange rates; changes in our credit ratings; management of credit risk; changes in interest rates; the financial health of national posts; increased customs and regulatory risks associated with cross-border transactions; and other factors beyond its control as more fully outlined in the Company’s 2015 Form 10-K Annual Report and other reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events or developments.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company powering billions of transactions – physical and digital – in the connected and borderless world of commerce. Clients around the world, including 90 percent of the Fortune 500, rely on products, solutions and services from Pitney Bowes in the areas of customer information management, location intelligence, customer engagement, shipping, mailing, and global ecommerce. And with the innovative Pitney Bowes Commerce Cloud, clients can access the broad range of Pitney Bowes solutions, analytics, and APIs to drive commerce. For additional information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.
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