Crossroads - CRDS Message Board

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Technology Stocks : Crossroads - CRDS

CRDS 1.900

0.0%

Aug 28 5:00 PM EST

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To: BostonView who wrote (105)	2/23/2000 9:01:00 PM
From: William F. Wager, Jr.	Read Replies (2) of 164

Early release of lock-up hurts stock today... In addition, Crossroads announced that the underwriters for Crossroads' initial public offering have agreed to release approximately 3.8 million shares subject to lock-up agreements due to expire April 16, 2000. This release will be for 20 percent of all of the shares currently subject to lock-up agreements and will be effective with the opening of trading on Feb. 25, 2000. This partial release of the underwriters' lock-up has no effect on various resale restrictions under applicable securities laws and regulations that apply to certain stockholders. Crossroads initial public offering of common stock was declared effective on Oct. 19, 1999. Crossroads sold approximately 4.0 million shares to an underwriting group led by SG Cowen, with Dain Rauscher Wessels and Morgan Keegan & Company as co-managers.

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