DynaVox To Explore Financial And Strategic Alternatives; Engages Bulger Partners To Assess Potential Opportunities
PITTSBURGH, July 29, 2013 (GLOBE NEWSWIRE) -- DynaVox Inc. (OTC:DVOX), a leading provider of speech generating solutions and symbol-adapted special education software to assist individuals in overcoming their speech, language and learning challenges, announced today that the company has engaged Bulger Partners, an international firm providing financial advisory and strategy consulting services to technology-driven organizations, to advise the company on strategic alternatives, including identifying and evaluating potential business combination transactions and refinancing structures.
DynaVox and its lenders have entered into a forbearance agreement and amendment to its $15 million senior secured credit agreement to address the company's present default, which will allow the company to explore and develop strategic alternatives. DynaVox intends to continue with its operations in the ordinary course and expects no impact on its customers, vendors, or employees as it works with Bulger to identify and pursue potential business combination transactions, refinancing structures and other strategic alternatives.
Forward-Looking StatementsThis press release contains forward-looking statements which reflect our current views with respect to, among other things, our operations and financial performance, our performance under the forbearance agreement and the outcome of any strategic alternative. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "projects", "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under "Risk Factors" in our Annual Report on Form 10-K, as such factors were updated from time to time in our previous filings with the Securities and Exchange Commission ("SEC"), which are accessible on the SEC's website at www.sec.gov . In addition, DynaVox may not be able to obtain sufficient financing or enter into other transactions to satisfy its obligations in a timely manner, or at all. The Company's inability to refinance or restructure its debt would have a material adverse effect on the solvency of the Company and its ability to continue as a going concern. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Annual Report on Form 10-K and other filings. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. About DynaVox Inc. DynaVox Inc. is a holding Company with its headquarters in Pittsburgh, Pennsylvania, whose primary operating entity is DynaVox Systems LLC. DynaVox provides speech generating solutions and symbol-adapted special education software to assist individuals in overcoming their speech, language and learning challenges. These solutions are designed to help individuals who have complex communication and learning needs participate in the home, classroom and community. Our mission is to enable our customers to realize their full communication and education potential by developing industry-leading devices, software and content and by providing the services to support them. We assist individuals, families, and professionals with an extensive field support organization, as well as centralized technical and reimbursement support. For more information, visit www.dynavoxtech.com.
CONTACT: Bulger Partners Wayne M. Fitzpatrick Chief Compliance Officer (617) 674-5500 firstname.lastname@example.org
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