Anyone have any knowledge of IPO Lockout Conditions?

[nigelpugh7]

Hi Guys,

I have some shares in a company that has just gone public.

However I am aware that there is a 90 day IPO lockout period meaning that certain shareholders can not sell their shares during that period.

I was wondering if anyone knows the exact rules is you are actually a common stock holder, and have the physical certificate?

Thanks in advance.

Nigel.

[v8250]

Nigel, you'll need to check your share notice that came with the IPO certificate. Also, you should have received a contract notice from either the company itself, and/or, the bank/broker handling the IPO. Full details should be hidden in the small print.

BTW - are you a director, employee with share option type equity, or a direct investor of the company pre-IPO? This can/will effect the priority of shares you hold and therefore any lockout type clause.

Talk with bank/broker handling the IPO.

[nigelpugh7]

v8250 said:

Nigel, you'll need to check your share notice that came with the IPO certificate. Also, you should have received a contract notice from either the company itself, and/or, the bank/broker handling the IPO. Full details should be hidden in the small print.

BTW - are you a director, employee with share option type equity, or a direct investor of the company pre-IPO? This can/will effect the priority of shares you hold and therefore any lockout type clause.

Talk with bank/broker handling the IPO.

Hi There,

Thanks for taking the time to respond.

I have asked the question of the US Co Attorney , but I have not had a response yet.

In speaking to another person concerned with the company, his opinion was that I was not classed as an insider, as I was not asked to sign a Lock Out agreement prior to the IPO.

I am a holder of common stock, but I am neither an employee, director of direct investor. I purchased these shares as a stock in my previous company, and that company was then acquired by the company which has now gone public.

I will wait to see what the US Attorney come back to me with.

Thanks again.

Nige.