Press Release

Ribbon Expects Minimal Impact from Silicon Valley Bank Closure

March 13, 2023

PLANO, Texas, March 13, 2023 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications technology and IP optical networking solutions to many of the world's largest service providers, enterprises, and critical infrastructure operators to modernize and protect their networks, today announced that it does not expect the closing of Silicon Valley Bank (SVB) to have a significant impact on its operations.

"As we disclosed in our Form 8-K filing, we withdrew funds on deposit with SVB as of March 9, 2023, and expect customer deposits that were made after that date to be fully available to us, based on the FDIC's statement that all insured depositors will have access to their deposits starting today," said Mick Lopez, EVP and CFO, Ribbon. "Additionally, while SVB was one of the lenders under our Credit Facility, we are confident that other lenders under this Facility will be able to fund any requested draws on the revolver, enabling us to continue our operations unimpeded."

Ribbon follows a diversified strategy when it comes to deposit and lending institutions, allowing it to minimize risk and ensure ongoing access to working capital. The company continues to monitor the situation with respect to the closure of SVB.

About Ribbon
Ribbon Communications (Nasdaq: RBBN) delivers communications software, IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge software-centric solutions, cloud-native offers, leading-edge security and analytics tools, along with IP and optical networking solutions for 5G. We maintain a keen focus on our commitments to Environmental, Social and Governance (ESG) matters, offering an annual Sustainability Report to our stakeholders. To learn more about Ribbon, please visit

Important Information Regarding Forward-Looking Statements 
This press release contains "forward-looking" statements that are based on Ribbon Communications' beliefs and assumptions and on information currently available to the company on the date of this Current Report on Form 8-K. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "continue," "could," "design," "estimate," "expect," "may," "seek," "should," "will," "would" or similar expressions and the negatives of those terms. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause Ribbon Communications' actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, estimates regarding the sufficiency of the Company's cash and cash equivalents and cash flow from operations, borrowing capacity under its Credit Facility and Ribbon Communications' ability to recover its cash on deposit at SVB.

These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect Ribbon Communications' business and results from operations. Additional information regarding these and other factors can be found in the reports filed by Ribbon Communications with the Securities and Exchange Commission, including, without limitation, its Form 10-K for the year ended December 31, 2021. In providing forward-looking statements, Ribbon Communications expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

Investor Contact
+1 (978) 614-8050

Media Contact
Catherine Berthier
+1 (646) 741-1974 

Cision View original content to download multimedia:

SOURCE Ribbon Communications Inc.

Shareholder Tools

How to Buy Solutions & Products

You have many options for purchasing Ribbon Communications solutions. We list of ways you can contact us or a reseller.