ForgeRock Announces Partial Early Lock-up Release
ForgeRock, Inc. (NYSE: FORG) announced a partial early lock-up release allowing up to 15% of its Class A common stock, approximately 11.7 million shares, to be eligible for sale on November 22, 2021. This release affects shares held by executive officers and directors under lock-up agreements. The restrictions will remain for all other securities until after the company's Q4 and Full Year 2021 earnings release, expected in Q1 2022. The press release included standard forward-looking statements cautioning about potential risks and market conditions.
- Unlocking of up to 11.7 million shares may boost market liquidity.
- Partial lock-up release demonstrates confidence in the stock price.
- Potential dilution of existing shares may negatively affect stock value.
- Market uncertainties, including COVID-19 impacts, could affect stock performance.
Pursuant to the terms of the lock-up agreements, up to
The lock-up restrictions will continue to apply with respect to all remaining securities subject to the lock-up agreements.
There will be no additional partial early lock-up releases other than the one described above prior to the expiration of the lock-up agreements, which expire after two full trading days have passed following the release of ForgeRock’s Q4 and Full Year 2021 earnings. The date, time and conference call information for this earnings release is expected to be announced in the first quarter of 2022.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to our ability to attract new customers and retain and sell additional functionality and services to our existing customers, our ability to sustain and manage our growth, our ability to successfully add new features and functionality to our platform, our ability to compete effectively in an increasingly competitive market, and general market, political, economic, and business conditions, including the impact of COVID-19, and other risks detailed in our filings with the
Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. We anticipate that subsequent events and developments could cause our views to change. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About
ForgeRock®, a global leader in digital identity, delivers modern identity and access management solutions for consumers, employees and things to simply and safely access the connected world. Using
View source version on businesswire.com: https://www.businesswire.com/news/home/20211117006413/en/
Investor Relations Contacts:
investors@forgerock.com
Media Contacts:
kristen.batch@forgerock.com
stacey.hurwitz@forgerock.com
Evgenia Sinopidou,
evgenia.sinopidou@edelman.com
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FAQ
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