Synchronoss Technologies, Inc. entered into a Credit Agreement with BGC Lender Rep LLC, as administrative agent, and the lenders party thereto for a senior secured term loan facility of up to $75.0 million, the proceeds of which were used in part to repurchase 60,826 shares of its Series B Perpetual Non-Convertible Preferred Stock (the Series B Preferred), for an aggregate purchase price of $52.6 million (the Series B Repurchase). As a result of the Series B Repurchase, no shares of the Series B Preferred remain outstanding.