Mark, VIGN shares were released early by the underwriter. I think that's why the stock collapsed when it did.
AUSTIN, Texas, July 22 /PRNewswire/ -- Vignette Corporation (Nasdaq: VIGN - news), a leading provider of Internet Relationship
Management (IRM) solutions, today announced that the underwriters for Vignette's initial public offering have agreed to release
approximately 3,000,000 shares, or 5.5%, of the approximately 16.5 million shares held by the former preferred stockholders of
Vignette, all of which are subject to lockup agreements due to expire August 17, 1999. The release applies on a pro rata basis to the
holdings of each former preferred stockholder as of the initial public offering, and will be effective with the opening of trading on July
22, 1999. This partial release of the underwriters' lockup has no effect on various resale restrictions under applicable securities laws
and regulations that apply to certain stockholders.
Vignette's initial public offering of common stock was declared effective on February 18, 1999. Vignette sold 4.6 million shares to an
underwriting group led by Morgan Stanley Dean Witter, with Hambrecht & Quist and Dain Rauscher Wessels as co-managers.
Vignette is traded on the Nasdaq National Market under the symbol VIGN. |
