Part 1 - Vulcan Ventures (Paul Allen) NETP Holdings
Given the lack of clarity on the Vulcan Ventures (VV)holdings I have started to dig into NETP SEC Filings and past posts here and on Yahoo and RB. The message boards often referred to reports by Insider Trader. I do not subscribe to its premium service. Anybody who can provide a link to an authoritative documented source of VV holdings, please do so. In the meantime, the following should be regarded as a work in progress. I will collate any further information anyone can contribute.
At the time NETP went public in April, 1999, Vulcan Ventures held 1,932,368 Series B Preferred Shares: 407,168 Series C Preferred Shares for a total of 2,339,536 shares.
This amounted to 13.5% of the company before the IPO and 11% after.
In December, VV filed an intention to sell a total of 746,900 shares: in December a total of 596,318 shares for a combined total of 1,343,218.
In July, VV has filed intention to sell a total of approximately 188,000.
Assuming that all the shares covered by these notices were sold, then the total sold is 1,531,218.
That would leave V V with approx. 800,000 shares.
Does anybody have a record of any sales in February or early March? (VV could not sell any after the SPO was announced in March or for 90 days after it was complete. Sales were possible for a brief period on or about 21st June until the embargo which follows on the announcement of quarterly results).
The shares released into the pool by the December and January sales increased liqudity. They were bought up by institutional investors - which went from 12% holding to 35% holding. |
