Brief: RingCentral - To Record Non-Cash Asset Write-Down Charge Of Substantially All Of Remaining Prepaid Sales Commission Balance Of Up To About $160 Million For 2022 - Filing

RingCentral

20/12/2022 22:38

Dec 20 (Reuters) - RingCentral Inc  RNG.N :
    * RINGCENTRAL-TO RECORD NON-CASH ASSET WRITE-DOWN CHARGE OF
SUBSTANTIALLY ALL OF REMAINING PREPAID SALES COMMISSION BALANCE
OF UP TO ABOUT $160 MILLION FOR 2022
    * RINGCENTRAL-EXPECTS TO TAKE WRITE DOWN OF SUBSTANTIALLY
ALL OF
REMAINING FAIR VALUE OF CO’S HOLDINGS OF AVAYA’S PREFERRED STOCK
OF ABOUT $28.9 MILLION
    * RINGCENTRAL INC - CONCLUDED CHARGE FOR IMPAIRMENT TO
REMAINING
PREPAID SALES COMMISSION BALANCE UNDER ITS STRATEGIC PARTNERSHIP
WITH AVAYA IS REQUIRED

Further company coverage:  RNG.N 
 ((Reuters.Briefs@thomsonreuters.com;;))