{"id":170555,"date":"2010-01-12T12:42:52","date_gmt":"2010-01-12T17:42:52","guid":{"rendered":"tag:contentnext.com,2010-01-12:article\/419-spinvox-shareholders-get-virtually-nothing-after-debt-payback"},"modified":"2010-01-12T12:42:52","modified_gmt":"2010-01-12T17:42:52","slug":"spinvox-shareholders-get-virtually-nothing-after-debt-payback","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/170555","title":{"rendered":"SpinVox Shareholders Get Virtually Nothing After Debt Payback"},"content":{"rendered":"

\n\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\"SpinVox
\n\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/p>\n

Spinvox says it’s fully repaid a \u00a330 million bridging loan that kept it afloat until its sale to Nuance<\/a> last month.<\/p>\n

The voicemail-to-text company had accepted the mezzanine loan from the Tisbury fund in July after falling in to a financial mess. The company has now told Companies House it has paid it back in full.<\/p>\n

The payback is just one<\/em> of those to come from the $102.5 million (\u00a363.5 million) sale – but these debts the company racked up have left shareholders with virtually nothing…<\/p>\n

After repayments, all shareholders received a total of only \u00a3600<\/strong> ($968) and staff who, as we revealed last year<\/a>, accepted stock instead of salary during the summer, are getting nothing<\/strike>, according to a memo obtained by BBC News<\/a>.<\/p>\n

Update<\/b>: From Nuance PR: “Those who accepted stock options in lieu of salary did<\/em> receive payment of their foregone salary in connection with the transaction.”\n<\/p>\n

Related<\/strong><\/p>\n