Tuck
Now I am getting more confused than what I normally am. Your security laws in the US are strange.
I don't see this at all as an expression of an intent to sell by the holders of these shares. I see it merely as the required registration by Curis on behalf of these shareholders, so that they are able to sell them if and when they should wish to do so. If they should wish to do so. If they don't want to sell immediately they should be able to keep the shares until they come up with a better idea. To support this view of mine I refer to the following sentences in the registration document:
"We are registering all 5.2 million shares covered by this prospectus on behalf of the selling stockholders named in the table below. We issued all of the shares to the selling stockholders in December 2000 in a private placement pursuant to purchase agreements signed in November 2000. We have registered the shares to permit the selling stockholders and their pledgees, donees, transferees or other successors-in-interest that receive their shares from the selling stockholders as gifts, partnership distributions or other non-sale related transfers after the date of this prospectus to resell the shares when they deem appropriate."
as well as
"We do not know when or in what amounts a selling stockholder may offer shares for sale. The selling stockholders may not sell any or all of the shares offered by this prospectus. Because the selling stockholders may offer all or some of the shares pursuant to this offering, and because there are currently no agreements, arrangements or understandings with respect to the sale of any of the shares, we cannot estimate the number of the shares that will be held by the selling stockholders after completion of the offering. However, for purposes of this table, we have assumed that, after completion of the offering, none of the shares covered by this prospectus will be held by the selling stockholders."
So, I look more upon this as the end of a lock-up period of sorts.
But, I am of course willing to accept that there is a "best before date" for these shares. Although that does not seem to be expressed in the registration document (which I have just glanced through).
I do hold some shares.
Ice |
