RingCentral, Inc. (NYSE: RNG) said that Goldman, Sachs & Co. and J.P. Morgan Securities LLC, book-running managers in the company´s recent public sale of 8,625,000 shares of class A common stock, are waiving a lock-up restriction with respect to shares of the company´s common stock held by certain stockholders, officers or directors of the company.
The waiver will take effect on March 5, 2014, and the shares may be sold on or after such date.
RingCentral is a provider of cloud business communications solutions. Easier to manage and more flexible than on-premise communications systems, RingCentral´s cloud solution meets the needs of modern distributed and mobile workforces, while eliminating the expense of on-premise hardware and software. The company is headquartered in San Mateo, California.