ForgeRock announces partial early release of lockdown
SAN FRANCISCO – (COMMERCIAL THREAD) – ForgeRock, Inc. (“ForgeRock”) (NYSE: FORG), a global leader in digital identity, today announced an upcoming partial early release in respect of the class A common shares of ForgeRock, of a par value of $ 0.001 per share (the “Shares”), pursuant to the terms of the lock-up agreements (“Lock-up contracts”) entered into by the shareholders of ForgeRock, including the current officers and directors, with the underwriters of the first public offering of ForgeRock.
Under the terms of the lock-up agreements, up to 15% of the shares (including the shares underlying vested RSUs and stock options) subject to each lock-up agreement may be sold if certain market prices in the ‘action and other conditions are met. As a result, ForgeRock predicts that up to 11.7 million shares will become eligible for sale on the public market at the opening of trading on Monday, November 22, 2021, subject to restrictions applicable under the Securities Act of 1933. , as amended, including Rule 144 and Rule 701.
The lock-up restrictions will continue to apply to all remaining securities subject to the lock-up agreements.
There will be no additional partial early releases other than as described above prior to the expiration of the foreclosure agreements, which expire after two full trading days following the release of ForgeRock’s fourth quarter and full year results. 2021. The date, time and conference call information for this earnings release is expected to be announced in the first quarter of 2022.
This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond our control. Our actual results could differ materially from those indicated or implied in forward-looking statements due to a number of factors, including, but not limited to our ability to attract new customers and to retain and sell additional features and services to our existing customers, our ability to support 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 (âSECâ), including our prospectus ‘final IPO filed with the SEC on September 17, 2021 and our quarterly report on Form 10-Q filed with the SEC on September 1, 2021 November 2, 2021.
A previous 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 taken as representing our views as of any date subsequent to the date of this press release. We anticipate that subsequent events and developments may change our perspective. We assume no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
ForgeRockÂ®, a global leader in digital identity, offers modern identity and access management solutions for consumers, employees and objects to easily and securely access the connected world. Using ForgeRock, more than 1,300 organizations around the world orchestrate, manage and secure the full lifecycle of identities from dynamic access controls, governance, APIs and authoritative data storage – consumables in cloud or hybrid environments.