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Sprinklr (NYSE: CXM) announced a partial early lock-up release for its Class A common stock, effective before trading on November 5, 2021. This allows for 30% of eligible shares owned as of June 14, 2021 to be sold, per lock-up agreements with its directors and other shareholders. The remaining shares will continue to be subject to lock-up restrictions. Sprinklr's unified customer experience management platform supports customer-facing functions for enterprises, including over 1,000 global brands.
Positive
Partial early lock-up release allows for liquidity for shareholders, potentially stabilizing or increasing share price.
Operational engagement with major brands like Microsoft and P&G indicates strong market positioning.
Negative
30% release may lead to increased selling pressure on the stock, possibly affecting market price negatively.
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NEW YORK--(BUSINESS WIRE)--
Sprinklr (NYSE: CXM), the unified customer experience management (Unified-CXM) platform for modern enterprises, today announced that a partial early lock-up release will occur immediately prior to the opening of trading on November 5, 2021 with respect to its shares of Class A common stock, par value $0.00003 per share, pursuant to the terms of certain lock-up agreements entered into by Sprinklr’s directors, executive officers, employees, former employees, and certain other stockholders with the underwriters of Sprinklr’s initial public offering.
Pursuant to the terms of the lock-up agreements, the lock-up restrictions automatically end with respect to 30% of eligible securities owned as of June 14, 2021. The lock-up restrictions will continue to apply with respect to all remaining securities subject to the lock-up agreements.
About Sprinklr
Sprinklr is a leading enterprise software company for all customer-facing functions. With advanced AI, Sprinklr's unified customer experience management (Unified-CXM) platform helps companies deliver human experiences to every customer, every time, across any modern channel. Headquartered in New York City with employees around the world, Sprinklr works with more than 1,000 of the world’s most valuable enterprises — global brands like Microsoft, P&G, Samsung and more than 50% of the Fortune 100.
What is the significance of the lock-up release for Sprinklr on November 5, 2021?
The lock-up release allows shareholders to sell 30% of their eligible shares, which could increase liquidity but also potentially put pressure on the stock price.
How many shares are affected by the early lock-up release for Sprinklr?
30% of eligible shares owned as of June 14, 2021, will be released from lock-up.
What is the stock symbol for Sprinklr?
Sprinklr's stock symbol is CXM.
Who are some of the major clients of Sprinklr?
Sprinklr works with global brands including Microsoft, P&G, and Samsung.
