"Monolithic Reports Release Of Lockup Shrs(MOSY) Monolithic System Technology, Inc. Announces Early
Release of All Locked-up Shares
Business Editors/High-Tech Writers
SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 17, 2001--Monolithic System
Technology, Inc. ("MoSys") (Nasdaq:MOSY) today announced that A.G.Edwards &
Sons, Inc., the underwriters' representative for the company's initial public
offering, has informed the company that it will release for sale all of the
MoSys' common stock that is currently subject to lock-up agreements. These
agreements between the underwriters' representative and the holders of
19,181,688 shares of common stock prohibit the sale of such shares prior to
December 26, 2001 without the prior consent of A.G. Edward & Sons, Inc.
Earlier this year, on November 9, 2001, MoSys announced a release of a
portion of the shares that were subject to the 180-day lock-up. Judson
Mitchell, MoSys Vice President of Finance and CFO, stated, "Approximately 4.7
million shares that were released in November and December have already been
sold into the market. Of the remaining original locked-up shares, approximately
2.4 million shares are held by non-affiliates and will become immediately
tradable." |
