Lockup


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Lockup

A place of detention in a police station, court or other facility used for persons awaiting trial. In corporate law, a slang term that refers to the setting aside of Securities for purchase by friendly interests in order to defeat or make more difficult a takeover attempt. A lockup option is a takeover defensive measure permitting a friendly suitor to purchase divisions of a corporation for a set price when any person or group acquires a certain percentage of the corporation's shares. To be legal, such agreement must advance or stimulate the bidding process, to best serve the interests of the shareholders through encouraged competition.

See: penitentiary
References in periodicals archive ?
Section I describes the institutional background relating to lockup length and profit forecasts in the Singapore IPO market.
It is to be mentioned here that a same sort of incident had taken place few days back when officials of Levy and Khasadar forces of Landikotal had arrested an eight year student of Government Middle School, Latif Khan Kalli, in a raid on his house and put his behind the bar in lockup.
However, firms need to keep tight control of costs and lockup to ensure that fee income coverts into profits and cash flow remains healthy.
8220;I am excited to participate in the 2013 New Bern Lockup for the MDA,” said Van Horn.
Teamwork efficiency and productivity can be greatly improved by sharing more accurate designs with Drawing Lockup.
When corporate insiders of IPO firms sell shares shortly following lockup expiration, they generally state that they are doing so in order to diversify their portfolios or meet their liquidity needs (Maremont, Ewing, and Egodigwe, 2000; Bryan-Low, 2001).
The top six M5 stockholders, representing approximately 66 percent of the shares issued in conjunction with the acquisition of M5 Networks (now ShoreTel's cloud division, which offers the ShoreTel Sky solutions), have voluntarily displayed a vote of confidence in ShoreTel's strategic direction after the initial lockup restriction period of six months expired this week.
Director Peter Thiel, an early investor in Facebook, sold more than $1 billion worth of Facebook shares in the IPO and after the end of the first lockup, a move that analysts and other venture capitalists described as 'unprecedented.
Even the investors that I talk to who want to buy the stock and like the company are not sure if they can stomach the lockups.
Hawke said that with Gardner building a police station, it would be reasonably easy to increase the size of the lockup depending on the number of communities that might be using it.
A lockup is different from a jail in a variety of ways.
MWO 9-2320-272-20-7, which still has not been applied to some vehicles in the fleet, installed a brake proportioning valve kit to prevent front-wheel lockup during heavy braking when driving on slick surfaces with little or no load on-board.