RingCentral, Inc. (NYSE: RNG) said it has priced its underwritten public offering of 7,200,000 shares of class A common stock, including 2,000,000 shares being sold by the company and 5,200,000 shares being sold by selling stockholders, at a price to the public of USD21.50 per share.
In addition, the company has granted the underwriters a 30-day option to purchase up to 1,080,000 additional shares of class A common stock. RingCentral will not receive any of the proceeds from the sale of the shares being sold by the selling stockholders.
Goldman, Sachs & Co., J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the offering, and Raymond James & Associates, Inc., William Blair & company, L.L.C., Oppenheimer & Co., Inc., Macquarie Capital (USA) Inc. and Northland Securities, Inc. are acting as co-managers.
RingCentral is a provider of cloud business communications solutions. It is headquartered in San Mateo, California.