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Avaya Announces Offering of Class A RingCentral Common Stock

SANTA CLARA, Calif.--(BUSINESS WIRE)--

Avaya Holdings Corp. (AVYA), a global leader in solutions to enhance and simplify communications and collaboration, announced today that Avaya Inc. intends to offer in an underwritten public offering 1,750,000 shares of RingCentral, Inc. (RNG) Class A common stock (the “Offering”). The Offering consists entirely of shares to be sold by Avaya Inc. RingCentral will not receive any of the proceeds from the shares sold in the Offering nor will RingCentral be subject to lock up restrictions. Avaya will be subject to customary lock up restrictions.

Goldman Sachs & Co. LLC and BofA Securities are acting as joint underwriters for the Offering.

A registration statement (including a prospectus) relating to the Class A common stock was filed by RingCentral and was automatically effective with the Securities and Exchange Commission (“SEC”) on November 12, 2019. A copy of the preliminary prospectus supplement relating to the Offering will be filed with the SEC on November 12, 2019. The Offering will be made only by means of a prospectus supplement and the accompanying prospectus. Before you invest, you should read the registration statement, prospectus and prospectus supplement RingCentral has made available with the SEC for information about the RingCentral and the Offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus and preliminary prospectus supplement may be obtained from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 Attn: Prospectus Department or by emailing dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these shares of Class A common stock, nor shall there be any sale of these shares of Class A common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About RingCentral

RingCentral, Inc. (RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premises systems, the RingCentral platform empowers employees to work better together, from any location, on any device, and via any mode to serve customers, improving business efficiency and customer satisfaction. The company provides unified voice, video meetings, team messaging, digital customer engagement, and integrated contact center solutions for enterprises globally. RingCentral’s open platform integrates with leading business apps and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

©2019 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks or registered trademarks of RingCentral, Inc.

About Avaya

Businesses are built on the experiences they provide, and every day millions of those experiences are built by Avaya (AVYA). For over one hundred years, we’ve enabled organizations around the globe to win - by creating intelligent communications experiences for customers and employees. Avaya builds open, converged and innovative solutions to enhance and simplify communications and collaboration - in the cloud, on-premise or a hybrid of both. To grow your business, we’re committed to innovation, partnership, and a relentless focus on what’s next. We’re the technology company you trust to help you deliver Experiences that Matter. Visit us at www.avaya.com.

Cautionary note regarding forward-looking statements

This document contains “forward-looking statements.” All statements other than statements of historical fact are “forward-looking” statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. Risks and uncertainties that may cause these forward-looking statements to be inaccurate include, among others: the Company’s ability to successfully perform its obligations under the Framework Agreement; the parties’ ability to successfully develop and execute the jointly developed programs, technology and automation; adverse effects on the market price of Avaya’s stock or Avaya’s operating results as a result of any failure or delay in the development of related products or services; and other risks discussed in the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. These risks and uncertainties may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company’s filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Source: Avaya Newsroom

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