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
This 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
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