In this photo illustration a Facebook logo seen displayed on a smartphone.
Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty ImagesFacebook is preparing specific measures to slow the "spread of viral content" in preparation for violence and unrest related to the election, sources told the Wall Street Journal.
Last month, the company's head of global affairs told The Financial Times it planned to restrict content circulation in preparation for potential violence and unrest.
Concerns for violence and voter intimidation are high with less than 10 days until the election, and state and city officials are preparing for potential unrest as security concerns arise.
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Facebook is preparing specific measures for potential unrest related to the election, the Wall Street Journal reported Sunday.
The social media tech giant plans to mitigate conflict by "slowing the spread of viral content," "tweaking the news feed to change what types of content users see," and "lowering the threshold" for what the software flags as harmful, people familiar with the decisions told the WSJ.
"We've spent years building for safer, more secure elections," a spokesperson for Facebook told Business Insider in a statement. "We've applied lessons from previous elections, hired experts, and built new teams with experience across different areas to prepare for various scenarios. We've created new products, partnerships and policies — such as pausing post-election ads — to ensure we're more prepared than ever for the unique challenges of an election during a global pandemic."
Facebook's head of global affairs told The Financial Times last month the company had plans in preparation for unrest after the election but had not specified what measures would be intact. In September, Facebook CEO Mark Zuckerberg said "this election is not going to be business as usual" and will take steps to "reduce the chances of violence and unrest."
Facebook announced early this month it will ban all political ads for an indefinite period after Election Day.
Election and security experts including the bipartisan Transition Integrity Project have warned the potential for violence is high in this coming election. State and city officials are preparing for potential unrest as concerns for security arise.
Meanwhile, armed extremist groups have signaled they would appear at polling sites on Election Day.
Critics have scrutinized Facebook for the way it responds to violent extremist groups, which often congregate on the social media platform. In August, Zuckerberg said the company was slow to take down a page that called for armed civilians to Kenosha, Wisconsin amid ongoing protests which Buzzfeed said was flagged to Facebook 455 times.
A Wall Street Journal analysis published this month said the company did not always enforce content policies regarding disinformation and hate speech it said it would implement.
PORTLAND, Ore., Oct. 28, 2020 (GLOBE NEWSWIRE) -- Liaison, an award-winning public relations firm specializing in 3D technology, today announces the addition of virtual production technologies creator, Ncam, to its agency roster. Drawing on 20+ years of experience in emerging tech, Liaison will design strategic marketing, public relations and social media campaigns aimed at positioning Ncam as the industry-leading real-time camera tracking solution for film, broadcast and live events.
“We are at a pivotal moment in the mainstreaming of virtual production technologies,” said Ncam CEO Nic Hatch. “From film and TV to sports, esports and news, the COVID-19 pandemic has compelled a drastic shift toward real-time workflows and we want to come out on top.”
Ncam builds powerful real-time tracking tools that allow companies to visualize live XR graphics and CGI environments directly in-camera and integrates seamlessly with game engines and Mandalorian-style LED walls. Since 2012, Ncam tools have been used on everything from Star Wars to the Super Bowl, setting a new standard for what’s possible in broadcast and film. As industries increasingly embrace real-time workflows, Ncam has continued to innovate, most recently with the release of its Ncam Reality suite.
“Companies thrive when they make strategic messaging a guiding force,” said Heidi Lowell, founder and president of Liaison. “At this critical moment, where the leaders of a new virtual production goldrush are being decided, our multi-channel communications strategy will be key in shaping the identity of Ncam and how they reach new customers.”
Highly skilled at breaking down complex tech for the masses, Liaison will help Ncam encourage the broader adoption of virtual production techniques by lifting the confusion around how to get started. This will come in the form of educational features, Q&As, social campaigns, customer success stories and more. To further its use, Liaison will also highlight the affordability and accessibility of Ncam solutions, which allow teams of all sizes to collaborate more freely and make better decisions in the moment.
About LiaisonFounded in 1998, Liaison represents a “who’s who” of the 3D tech and production world. One of the first 3D PR firms, Liaison helps clients capitalize on the most interesting aspects of 3D, providing an easier path to stories that stick. Liaison focuses on films, games, broadcast, VR/AR, emerging tech, animation and architecture. Current/former clients include NVIDIA, Wacom, Chaos Group, Digital Domain, Rokoko, TurboSquid, Foundry and Allegorithmic.
About NcamNcam are the creators of Ncam Reality, the most advanced real-time camera tracker in the world. From Star Wars to the Super Bowl, Ncam Reality is used throughout the broadcast, film and live events industries by some of the biggest brands in the world to visualize photorealistic graphics in real-time. Customers include: Amazon, CNN, Disney, ESPN, Netflix, the NFL and Sky TV.
NICE Ltd. (Nasdaq: NICE) (the "Company") announced today the pricing of its previously announced offering of $400,000,000 aggregate principal amount of 0% Convertible Senior Notes due 2025 (the "Convertible Notes") in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). NICE also granted to the initial purchasers of the Convertible Notes an option to purchase up to an additional $60,000,0000 aggregate principal amount of the Convertible Notes within a 13-day period beginning on, and including, the initial closing date. The offering of the Convertible Notes is expected to close on August 27, 2020, subject to customary closing conditions.
The Convertible Notes will not bear regular interest. The Convertible Notes will mature on September 15, 2025, unless earlier prepaid, redeemed or exchanged. The Convertible Notes will be general unsecured obligations of the Company.
The Company may not redeem the Convertible Notes prior to September 21, 2023, except in the event of certain tax law changes. On or after September 21, 2023, the Company may redeem, for cash, all or part of the Convertible Notes if the last reported sale price of its ADSs has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of the redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
Prior to the close of business on the business day immediately preceding June 15, 2025, the Convertible Notes will be convertible at the option of the holders only upon the satisfaction of specified conditions and during certain periods. On or after June 15, 2025 until the close of business on the second scheduled trading day preceding the maturity date, the Notes will be convertible at the option of the holders of the Notes at any time regardless of these conditions. The Convertible Notes will be convertible for (i) cash, (ii) American Depositary Shares (the "ADSs"), each representing one fully paid ordinary share, par value NIS 1.00 per share of the Company or (iii) a combination thereof, at the Company's election. The conversion rate will initially be 3.3424 ADSs per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $299.19 per ADS). The conversion rate will be subject to adjustment in some events. In addition, following certain corporate events that occur prior to the maturity date or the Company's delivery of a notice of redemption, the Company will under certain circumstances, increase the conversion rate for a holder who elects to convert its Convertible Notes in connection with such a corporate event or to convert its Convertible Notes called for redemption in connection with such notice of redemption, as the case may be. The initial conversion price of the Convertible Notes represents a premium of approximately 37.5% to the $217.59 closing price of the ADSs on August 24, 2020.
If the Company undergoes a fundamental change (as defined in the indenture governing the Convertible Notes), holders may require the Company to prepay for cash all or part of their Convertible Notes at a prepayment price equal to 100% of the principal amount of the Convertible Notes to be prepaid, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change prepayment date.
The Company expects that the net proceeds from the offering of the Convertible Notes will be approximately $393 million, after deducting the initial purchasers’ fees and estimated offering expenses (or approximately $452 million if the initial purchasers exercise in full their option to purchase additional notes). The Company intends to use the net proceeds of the offering for general corporate purposes, which may include repayment of our outstanding term loan under our credit agreement at or prior to maturity in December 2021.
The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Convertible Notes, any of the ADSs issuable upon conversion of the Convertible Notes and the ordinary shares of the Company represented thereby have not been and are not expected to be registered under the Securities Act or under any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
This press release is being issued pursuant to Rule 135(c) under the Securities Act, and it does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About NICE Ltd.
NICE (Nasdaq: NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company's management regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include the expected completion of the offering of the Convertible Notes and the Company's intended use of the net proceeds of the offering.
Forward looking statements are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with changes in economic and business conditions, competition, successful execution of the Company's growth strategy, success and growth of the Company's cloud Software-as-a-Service business, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners, rapidly changing technology, cyber security attacks or other security breaches against the Company, privacy concerns and legislation impacting the Company's business, changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). In addition, COVID-19 is contributing to a general slowdown in the global economy and may affect the Company's business, results of operations, financial condition and our future strategic plans. At this time, the extent to which COVID-19 may impact the Company's financial condition or results of operations is uncertain. Furthermore, due to our subscription based business model, the effect of COVID-19 may not be fully reflected in our results of operations until future periods. You are encouraged to carefully review the section entitled "Risk Factors" in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this press release speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law.
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