Ribbon Communications to delay filing 10K

The company states: "As of December 31, 2022, Ribbon Communications Inc. was in compliance with all covenants under its Senior Secured Credit Facilities Credit Agreement, as amended, which the Company entered into on March 3, 2020. The Company is presently engaged in discussions with the lenders under the 2020 Credit Facility, regarding a new amendment to the 2020 Credit Facility to, among other things, increase the total net leverage ratio and decrease the minimum fixed charge coverage ratio included as covenants under the 2020 Credit Facility, for certain periods ending on or after March 31, 2023. The amendment, if completed, together with a pay down of a portion of the debt outstanding under the 2020 Credit Facility that would be required by the amendment, is expected to provide the Company with additional financial flexibility for 2023 as the Company targets continued improved profitability. The amendment will require material updates to the Company’s disclosures in its Annual Report on Form 10-K for the year ended December 31, 2022. The Company’s management team is working diligently on obtaining the amendment and therefore cannot complete the procedures necessary for filing the Form 10-K without unreasonable effort and expense. The Company currently anticipates obtaining such amendment and filing the Form 10-K within the time period proscribed in Rule 12b-25 promulgated under the Securities Exchange Act of 1934, as amended. Completion of the amendment requires, among other things, the consent of the lenders holding a majority of the principal amount outstanding under the 2020 Credit Facility."