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ZYNGA ANNOUNCES PARTIAL RELEASE OF LOCK-UP AGREEMENTS WITH CERTAIN OFFICERS AND DIRECTORS IN CONNECTION WITH PROPOSED SECONDARY OFFERING
San Francisco, Calif. – March 26, 2012 –Zynga Inc. (NASDAQ: ZNGA), the world’s leading provider of social game services, announced today that Morgan Stanley & Co. LLC and Goldman, Sachs & Co., the joint bookrunning managers and representatives of the underwriters for the Company’s initial public offering in December 2011, have consented to the release of lock-up restrictions with respect to certain shares of the Company’s Class A common stock held by certain officers and directors of the Company to facilitate sales by such officers and directors in connection with the Company’s recently-announced secondary offering. The release will take effect concurrently with the secondary offering, and the shares may be sold only in connection with such offering.
As previously announced, on March 14, 2012, the Company filed a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) for certain stockholders of Zynga Inc. to offer shares of Class A common stock. The principal purposes of the offering are to facilitate an orderly distribution of shares and increase the company’s public float. Zynga will not receive any proceeds from the sale of the shares.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. will be the joint bookrunning managers and representatives of the underwriters for the offering. BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC also will be joint bookrunning managers, and Allen & Company LLC will be a senior co-manager for the offering.
The offering will be made only by means of a prospectus. A copy of the prospectus when available may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at email@example.com, or from the offices of Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by e-mail at firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement on Form S-1 may be accessed through the SEC's website at edgar.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the shares of Class A common stock nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
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