ForgeRock Announces Partial Early Lock-up Release
November 17 2021 - 8:30PM
Business Wire
ForgeRock, Inc. (“ForgeRock”) (NYSE: FORG), a global leader in
digital identity, today announced an upcoming partial early lock-up
release with respect to ForgeRock’s Class A common stock, par value
$0.001 per share (the “shares”), pursuant to the terms of the
lock-up agreements (“lock-up agreements”) entered into by
ForgeRock’s equity holders, including current executive officers
and directors, with the underwriters of ForgeRock’s initial public
offering.
Pursuant to the terms of the lock-up agreements, up to 15% of
the shares (including shares underlying vested RSUs and stock
options) subject to each lock-up agreement may be sold if certain
share price and other conditions are met. Accordingly, ForgeRock
expects that up to 11.7 million shares will become eligible for
sale in the public market at the open of trading on Monday,
November 22, 2021, subject to applicable restrictions under the
Securities Act of 1933, as amended, including Rule 144 and Rule
701.
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
Securities and Exchange Commission (“SEC”), including our final IPO
prospectus filed with the SEC on September 17, 2021 and our
quarterly report on Form 10-Q filed with the SEC on November 12,
2021.
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
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
ForgeRock, more than 1,300 organizations around the world
orchestrate, manage, and secure the complete lifecycle of
identities from dynamic access controls, governance, APIs, and
storing authoritative data - consumable in cloud or hybrid
environments.
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version on businesswire.com: https://www.businesswire.com/news/home/20211117006413/en/
Investor Relations Contacts:
Mark Kang, ForgeRock Nicole Borsje, The Blueshirt Group
investors@forgerock.com
Media Contacts:
Kristen Batch, ForgeRock kristen.batch@forgerock.com
Stacey Hurwitz, ForgeRock stacey.hurwitz@forgerock.com
Evgenia Sinopidou, Edelman evgenia.sinopidou@edelman.com
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