Friday, September 15, 2023 11:07:33 PM
There will likely be a lock-up period for divy shares.
Don't know how long.
Which lock-up restrictions are typically negotiated in connection with a de-SPAC?
As compared to the almost standard 180-day lock-up period in IPOs, the lock-up period for target company shareholders can range from 180 days to one year. Sponsors are typically subject to a one-year lock-up that may terminate early if the stock trades above a specified price for a specified period at any time after 150 days following completion of the de-SPAC transaction. The lock-up for target shareholders may be for a shorter period, to stagger the sales, or it may be for a one-year period to align the interests of the target shareholders with the those of the sponsor. In either case, the
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