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Technology Stocks : Somera Communications Inc-(SMRA)
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To: Rupert who wrote (79)5/4/2000 2:48:00 PM
From: Jason Flora  Read Replies (1) of 110
 
Of course you never know how the end of a lockup will go, but I am betting we will see little or no selling. The co-founders and the large fund (can't remember the name off-hand) that holds the vast majority of shares each received a chunk of cash just prior to the ipo. The company was an LLC prior to going public and as such made a final distribution to the "partners" before becoming a Corporation. The debt they paid off with a portion of the ipo proceeds was incurred in order to make the distribution.

That said, perception is everything, so we might see some selling just because people are worried about the lock-up expiration.

I will be buying more if it comes down. I was lucky enough to pick up 500 shares at 5.125 during the recent margin calls season - somebody got screwed by their broker - and would be more than happy to buy more at that level!
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