Freshworks Announces Partial Early Lock-Up Release on November 4, 2021
October 29 2021 - 4:51PM
Freshworks Inc. (NASDAQ: FRSH), a leading software company
empowering businesses to delight their customers and employees,
today announced, as disclosed in the final prospectus dated
September 21, 2021 relating to Freshworks’ initial public offering,
a partial early lock-up release with respect to Freshworks’ shares
of Class A common stock, par value $0.00001 per share (the
“shares”), pursuant to the terms of certain lock-up agreements
(“lock-up agreements”) entered into by Freshworks’ directors and
officers and certain holders of Freshworks’ common stock with the
underwriters of Freshworks’ initial public offering.
Pursuant to the terms of the lock-up agreements, the restricted
period will end with respect to either 20%, 30% or 40% of the
shares held by all holders of common stock and securities
exercisable for or convertible into common stock if the last
reported closing price of the Class A common stock on The Nasdaq
Stock Market LLC is equal to or greater than 110%, 125% or 150%,
respectively, of the IPO price of $36.00 per share for any 10 out
of 15 consecutive trading days ending on the one trading day prior
to the second trading day after Freshworks’ public announcement of
its earnings for the fiscal quarter ended September 30, 2021,
including the last day of such 15 trading day period.
The underwriters have agreed that the conditions for early
release of 20% of the shares have been deemed satisfied as of
October 27, 2021. Accordingly, Freshworks estimates that up to 58.2
million shares will become eligible for sale in the public market
at the open of trading on November 4, 2021.
The restricted period will continue to apply with respect to all
remaining shares subject to the lock-up agreements.
About Freshworks
Freshworks makes it fast and easy for
businesses to delight their customers and employees. We do this by
taking a fresh approach to building and delivering software that is
affordable, quick to implement, and designed for the end user.
Headquartered in San Mateo, California, Freshworks has a dedicated
team operating from 13 global offices to serve 50,000+ customers
including Bridgestone, Chargebee, DeliveryHero, ITV, Klarna,
Multichoice, OfficeMax, TaylorMade and Vice Media. For more
information visit www.freshworks.com.
© 2021 Freshworks Inc. All rights reserved. Freshworks and its
associated logos are trademarks or registered trademarks of
Freshworks Inc. All other company, brand and product names may be
trademarks or registered trademarks of their respective
companies.
Investor Contact: Joon Huhir@freshworks.com 650-988-5699
Media Contact: Jayne Gonzalezpr@freshworks.com 408-348-1087
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