Nuance Cuts Stock Offering Size

Burlington, MA-based Nuance Communications (NASDAQ: [[ticker:NUAN]]), which sells speech and imaging software, announced in a regulatory filing that it planned to cut the number of shares being sold in its secondary public offering of its stock from 15 million to 7 million.

Under its revised plan, the firm will offer 6.8 million shares, down from 9.6 million, while the number of shares offered by shareholder Warburg Pincus and members of Nuance’s management will decrease from 5.4 million to just 227,000 shares.

The company expects net proceeds from the sale of $112.8 million, after deducting commissions and other expenses. The deal is expected to close on December 21.

Author: Robert Buderi

Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative. Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.