AUSTIN, Texas, July 12, 2012 (GLOBE NEWSWIRE) -- Bazaarvoice, Inc. (Nasdaq:BV) announced today that Morgan Stanley & Co. LLC, acting as representative of the underwriters for the Company's initial public offering in February 2012, has consented to the release of lock-up restrictions with respect to certain shares of the Company's 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 follow-on offering. The release will take effect concurrently with the follow-on offering, and the shares may be sold only in connection with such offering.
As previously announced, on June 27, 2012, the Company filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") for certain stockholders of the Company to offer shares of common stock held by them, in addition to new shares offered by the Company. The selling stockholders in the follow-on offering include certain directors and officers of Bazaarvoice, as well as other stockholders. Bazaarvoice will not receive any proceeds from the sale of shares by the selling stockholders.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC will serve as joint bookrunning managers for the proposed offering. BMO Capital Markets Corp., Pacific Crest Securities LLC and Piper Jaffray & Co. will act as co-managers.
The offering will be made only by means of a prospectus. A copy of the prospectus for the offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by email at email@example.com, or by phone at (866) 718-1649; or Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, by e-mail at firstname.lastname@example.org, or by phone at (800) 503-4611; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at email@example.com.
A registration statement relating to the securities to be sold in the offering 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. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CONTACT: Bazaarvoice Investor Relations
ICR, Inc. on behalf of Bazaarvoice, Inc.
Brady PR on behalf of Bazaarvoice, Inc.