Lock-up provision

OneMain Holdings, Inc. Announces Pricing of Upsized Secondary Offering of Common Stock

Retrieved on: 
Friday, July 30, 2021
Banking, Professional services, Finance, Financial markets, Stock market, Financial economics, Finance, Equity securities, Corporate finance, Stock, Share, Lock-up provision, Buyback, Common stock

The base offering has been upsized from 8.0 million to 9.5 million shares of Company common stock, which represents approximately 7% of the Companys outstanding common stock as of July 15, 2021.

Key Points: 
  • The base offering has been upsized from 8.0 million to 9.5 million shares of Company common stock, which represents approximately 7% of the Companys outstanding common stock as of July 15, 2021.
  • The Concurrent Share Buyback is contingent on, and expected to occur simultaneously with, the closing of the base offering.
  • The underwriter will have a 30-day option to purchase up to an additional 1.425 million shares of common stock from the selling stockholder.
  • As part of this offering, the selling stockholder has agreed to a 30-day lock-up of its common stock.

The Parent Company Announces Voluntary Board of Director and Executive Team Lock-up Agreements

Retrieved on: 
Friday, July 30, 2021
Buyback, Lock-up provision, OTC Markets Group, Repurchase agreement, Stock market, Finance, Financial economics, Money, Corporate finance

To date, the Insiders have not sold any common shares of the Company that they directly own or over which they exercise control or direction.

Key Points: 
  • To date, the Insiders have not sold any common shares of the Company that they directly own or over which they exercise control or direction.
  • During the term of the Buyback Agreements, the Employees have agreed to enter into lock-up agreements for their remaining shareholdings in the Company which are not impacted by the Buyback Agreement.
  • Any Company common shares repurchased pursuant to the Buyback Agreements will be canceled as to reduce the total number of issued and outstanding Company common shares.
  • The Parent Company (TPCO Holding Corp.) (NEO: GRAM.U) (OTCQX: GRAMF) is California's leading vertically integrated cannabis company combining best-in-class operations with leading voices in popular culture and social impact.

Brooklyn ImmunoTherapeutics Completes Acquisition of Novellus Therapeutics

Retrieved on: 
Monday, July 19, 2021
Expense, Intellectual property law, Patent law, Royalty payment, Lock-up provision, Novellus Systems, Companies

The co-founders of Novellus entered into lock-up agreements with respect to 3,377,690 of the shares of Brooklyn common stock issued in the transaction.

Key Points: 
  • The co-founders of Novellus entered into lock-up agreements with respect to 3,377,690 of the shares of Brooklyn common stock issued in the transaction.
  • The contractual lock-ups extend for a period of three years, subject to certain early release provisions based on the Brooklyn stock price.
  • Following the transaction, Brooklyn had approximately $25 million of cash, which Brooklyn projects, based on its current operating plans, will be sufficient to fund operations through the end of 2023.
  • The transaction relieves Brooklyn from its obligation to pay Novellus a set of upfront fees, clinical development milestone fees and post-registration royalties under a license agreement that Brooklyn entered into in April 2021 with Novellus and Factor.

Aterian Announces Voluntary Lock-up Agreements with CEO, Other Co-Founders & Key Stockholders

Retrieved on: 
Tuesday, June 1, 2021
Yaniv, Lock-up provision, Aterian, Geography of Africa, North Africa

Aterians Co-Founder and CEO, Yaniv Sarig, agreed to lock up all of the shares that he controls through January 1, 2022.

Key Points: 
  • Aterians Co-Founder and CEO, Yaniv Sarig, agreed to lock up all of the shares that he controls through January 1, 2022.
  • Also included among the Stockholders are the Companys co-founders, Asher Delug and Maximus Yaney (and certain of his affiliates), as well as certain sellers in Aterians recent asset acquisitions, 9830 Macarthur LLC and Healing Solutions LLC.
  • Yaniv Sarig, Co-Founder and CEO of Aterian, commented, The lock-up agreements announced today reflect the continued confidence that I and other large Aterian stockholders have in the long term prospects of the Company.
  • Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct.

Alkami Announces Early Lock-Up Release

Retrieved on: 
Tuesday, May 11, 2021
Finance, Economy, Companies, SEC Rule 10b5-1, Bank, Lock-up provision, ING Group

The Company currently estimates that up to approximately 14.3 million shares will become eligible for sale in the public market at the open of trading on May 14, 2021.\nIn addition, pursuant to the terms of the lock-up agreements, the restricted period will end on the third trading day after the date of Alkami\xe2\x80\x99s earnings release for the quarterly period ending June 30, 2021 with respect to additional shares subject to each lock-up agreement (either 15% or 25% depending on whether such lock-up agreement pertains to directors, officers, other members of senior management and investors, or to employees and individual consultants (including former employees and individual consultants)).\nThe shares eligible for sale may be sold pursuant to trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

Key Points: 
  • The Company currently estimates that up to approximately 14.3 million shares will become eligible for sale in the public market at the open of trading on May 14, 2021.\nIn addition, pursuant to the terms of the lock-up agreements, the restricted period will end on the third trading day after the date of Alkami\xe2\x80\x99s earnings release for the quarterly period ending June 30, 2021 with respect to additional shares subject to each lock-up agreement (either 15% or 25% depending on whether such lock-up agreement pertains to directors, officers, other members of senior management and investors, or to employees and individual consultants (including former employees and individual consultants)).\nThe shares eligible for sale may be sold pursuant to trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
  • The restricted period will continue to apply with respect to all remaining shares subject to the lock-up agreements.\nAlkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities.
  • The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 240 financial institutions.
  • Alkami\xe2\x80\x99s investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies.\n'

Certain Shareholders of Joy Spreader Extend Lock-up Undertakings for 15 months to Demonstrate Their Confidence in the Long-term Development Prospect of the Company.

Retrieved on: 
Tuesday, March 23, 2021
Lock-up provision, Spreader

The announcement shows that those shareholders who have voluntarily given the lock-up undertakings include:

Key Points: 
  • The announcement shows that those shareholders who have voluntarily given the lock-up undertakings include:
    (1)ZZN.
  • Ltd., holding approximately 5.70%, 5.44%, 4.98%, 4.73%, 3.33%, and 2.64% of the shares of Joy Spreader, respectively, as at the date of this announcement.
  • The aforesaid shareholders in aggregate hold approximately 26.82% of the shares of Joy Spreader as at the date of this announcement.
  • The shareholders' choice to voluntarily lock up their holdings this time has fully demonstrated their high recognition of the investment value of Joy Spreader.

Facedrive Key Executives Extend Share Lock-Up Period

Retrieved on: 
Monday, March 8, 2021
Environment, Technology, Alternative Vehicles, Fuels, Medical devices, Automotive, Transport, Software, Health, Logistics, Supply chain management, Ridesharing, Sustainability, Lock-up provision, Articles

Facedrive Inc. (Facedrive) (TSXV:FD), (OTC:FDVRF), a Canadian people-and-planet first tech ecosystem, announced today that key executives of the company have voluntarily agreed with the Company to extend the lock-up period of their shares (Lockup Period).

Key Points: 
  • Facedrive Inc. (Facedrive) (TSXV:FD), (OTC:FDVRF), a Canadian people-and-planet first tech ecosystem, announced today that key executives of the company have voluntarily agreed with the Company to extend the lock-up period of their shares (Lockup Period).
  • All of the Locked-Up Shares belonging to said Key Executives total 46.57 million common shares (Key Executive Shares) in the Company.
  • As the Lockup Period approached an end, the Key Executives voluntarily agreed to extend the applicable Share Lockup Period to demonstrate their continued belief in the mission of the company and the opportunity ahead.
  • The Facedrive Verticals include its rideshare business (Facedrive Rideshare), sustainable e-commerce platform (Facedrive Marketplace), food-delivery service (Facedrive Foods), e-social platform (Facedrive Social) and its contact-tracing and sustainable health services business (Facedrive Health).

Affirm Announces Early Lock-Up Release

Retrieved on: 
Monday, March 1, 2021
Technology, Mobile, Wireless, Professional services, Finance, Financial economics, Corporate finance, Equity securities, Finance, Stock market, Mergers and acquisitions, Lock-up provision, Stock, Common stock, Lock

Affirm Holdings, Inc. (NASDAQ: AFRM) (Affirm or the "Company), today announced a partial early lock-up release with respect to Affirms shares of Class A common stock, par value $0.00001 per share (the shares), pursuant to the terms of certain lock-up agreements (lock-up agreements) entered into by certain of Affirms directors, officers, greater than 1% stockholders and other stockholders (other than current non-officer employees, former employees, consultants and independent contractors) with the underwriters of Affirms initial public offering.

Key Points: 
  • Affirm Holdings, Inc. (NASDAQ: AFRM) (Affirm or the "Company), today announced a partial early lock-up release with respect to Affirms shares of Class A common stock, par value $0.00001 per share (the shares), pursuant to the terms of certain lock-up agreements (lock-up agreements) entered into by certain of Affirms directors, officers, greater than 1% stockholders and other stockholders (other than current non-officer employees, former employees, consultants and independent contractors) with the underwriters of Affirms initial public offering.
  • Pursuant to the terms of the lock-up agreements, the restricted period will end with respect to 10% of the shares subject to each lockup agreement if certain share price and other conditions are met.
  • The conditions for early release were satisfied on February 26, 2021.
  • The restricted period will continue to apply with respect to all remaining shares subject to the lock-up agreements.

Unifiedpost Group: Completion of Fourth and Final Coordinated Private Sale of 258,417 Existing Shares by Several Individual Shareholders

Retrieved on: 
Monday, February 22, 2021
Software, Technology, Professional services, Finance, Mergers and acquisitions, Lock-up provision

An exemption from the lock-up undertaking provides for a coordinated sell-down allowing the Other Shareholders to sell a limited number of their shareholdings (i.e.

Key Points: 
  • An exemption from the lock-up undertaking provides for a coordinated sell-down allowing the Other Shareholders to sell a limited number of their shareholdings (i.e.
  • The fourth and final disposal period commenced on 20 February 2021 and a total of 16 shareholders out of the overall group of approximately 80 Other Shareholders decided to participate in this fourth and final coordinated sell-down.
  • Unifiedpost Group wants to become the leading cloud-based platform for SME business services built on Documents, Identity and Payments.
  • Each distributor is responsible for undertaking its own target market assessment in respect of the Shares and determining appropriate distribution channels.

OneMain Holdings, Inc. Announces Pricing of Upsized Secondary Offering of Common Stock

Retrieved on: 
Thursday, February 11, 2021
Banking, Professional services, Finance, Financial markets, Financial economics, Finance, Equity securities, Stock market, Corporate finance, Stock, Common stock, Lock-up provision, Share, Greenshoe, Initial public offering of Facebook

The 8.0 million shares of common stock to be sold in this offering represents approximately 6.0% of the Companys outstanding common stock as of February 1, 2021.

Key Points: 
  • The 8.0 million shares of common stock to be sold in this offering represents approximately 6.0% of the Companys outstanding common stock as of February 1, 2021.
  • The size of the offering has been upsized from 7.0 million shares to 8.0 million shares.
  • The underwriters will have a 30-day option to purchase up to an additional 1.2 million shares of common stock from the selling stockholders.
  • As part of this offering, the selling stockholders have agreed to a 75-day lock-up of their common stock.