Found it:
The market price of the common stock could drop as a result of sales of a large number of shares of common stock in the market after this offering. There will be 42,208,979 shares of common stock outstanding immediately after this offering. The 7,000,000 shares of common stock sold in this offering will be freely tradable without restriction or further registration under the Securities Act of 1933, as amended, unless such shares are held by "affiliates" of Interliant, as that term is defined in Rule 144 under the Securities Act.
Of the remaining 35,208,979 shares of common stock 32,058,979 are subject to restrictions under Rule 144 of the Securities Act. Holders of 32,320,790 restricted shares have registration rights with respect to such shares. However, such shares are subject to lock-up agreements pursuant to which the holders of these shares have agreed, subject to certain limited exceptions, not to sell or otherwise dispose of any of their shares for a period of 180 days after the date of this prospectus, or exercise their registration rights, without the prior written consent of Merrill Lynch & Co., Inc. See "Shares Eligible for Future Sale."
At the time of this offering, 3,092,700 shares of common stock issuable upon exercise of options issued as compensation will also become available for resale in the public market at prescribed times. We also intend to register under the Securities Act the shares of common stock reserved for issuance under our stock option plan. See "Shares Eligible for Future Sale."
That puts it at December 20, 1999, since the prospectus was dated June 23, 1999.
People already getting nervous?
Ira
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