Bazaarvoice, Inc. (BV: Quote) said Thursday that Morgan Stanley & Co. LLC, 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.
Morgan Stanley is acting as representative of the underwriters for the company's initial public offering in February 2012
The release will take effect simultaneously with the follow-on offering, and the shares may be sold only in connection with such offering.
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.
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by RTT Staff Writer
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