You are right about the 180 "lock-out" IPO was on 6/17/97 at $8.25, opened $8.50 and closed the day at $10.38. So 180 days is not here yet.
Picked this off the ORBIT FR INC S-1/A Filing Date: 6/5/97
PRINCIPAL STOCKHOLDERS
The following table sets forth certain information regarding beneficial
ownership of the Company's Common Stock as of June 5, 1997 and as adjusted to
reflect the sale of the Common Stock offered hereby, by (i) each stockholder
known by the Company to be the beneficial owner of five percent or more of the
outstanding Common Stock, (ii) each director, director nominee and the
executive officer of the Company named in the Summary Compensation Table
individually and (iii) all directors, director nominees and executive officers
as a group. Except as otherwise indicated in the footnotes below, the Company
believes that each of the beneficial owners of the Common Stock listed in the
table, based on information furnished by such owner, has sole investment and
voting power with respect to such shares. The following table includes a
maximum of 94,118 shares of Common Stock that will be issued contemporaneously
with the completion of this offering in connection with the AEMI acquisition.
BENEFICIAL OWNERSHIP(1)
----------------------------------------
PERCENT PRIOR PERCENT AFTER
NAME OF BENEFICIAL OWNER NUMBER TO THIS OFFERING THIS OFFERING
------------------------ --------- ---------------- -------------
Orbit-Alchut Technologies, Ltd.(2).... 4,000,000 100.0% 65.6%
P.O. Box 3171
Industrial Zone
Netanya 42131
Israel
Joseph Aviv(3)........................ 4,000,000 100.0 65.6
Aryeh Trabelsi(4)..................... -- -- --
Zeev Stein(5)......................... 4,000,000 100.0 65.6
David Ben-Bassat(6)................... 4,000,000 100.0 65.6
Eric Haskell(7)....................... -- -- --
All directors, director nominees and
executive officers as a group
(8 persons)(8)....................... 4,000,000 100.0 65.6
--------
(1) The securities "beneficially owned" by an individual are determined in
accordance with the definition of "beneficial ownership" set forth in the
regulations of the Securities and Exchange Commission. Accordingly, they
may include securities owned by or for, among others, the spouse and/or
minor children of the individual and any other relative who has the same
home as such individual, as well as other securities as to which the
individual has or shares voting or investment power or has the right to
acquire under outstanding stock options within 60 days after the date of
this table. Beneficial ownership may be disclaimed as to certain of the
securities.
(2) Alchut has granted to the Underwriters an option to purchase up to an
additional 300,000 shares of Common Stock to cover over-allotments at the
Offering Price less the underwriting discounts and commissions set forth
on the cover page of this Prospectus. See "Underwriting." If this option
is exercised in full, Alchut will beneficially own 60.7% of the Company's
Common Stock after this offering.
(3) Represents 4,000,000 shares held by Alchut. Mr. Aviv is a director and
44.0% beneficial stockholder of Alchut.
(4) Does not include 171,000 shares of Common Stock issuable upon the exercise
of an option to be granted to Mr. Trabelsi effective upon the completion
of this offering, which option becomes exercisable in four cumulative
annual installments commencing 24 months after the completion of this
offering.
(5) Represents 4,000,000 shares held by Alchut. Mr. Stein is a director and
42.0% beneficial stockholder of Alchut.
(6) Represents 4,000,000 shares held by Alchut. Mr. Ben-Bassat is a director
of Alchut. Does not include 20,000 shares of Common Stock issuable upon
the exercise of an option to be granted to Mr. Ben-Bassat effective upon
the completion of this offering, which option becomes exercisable in four
cumulative annual installments commencing 24 months after the completion
of this offering.
(7) Does not include 30,000 shares of Common Stock issuable upon the exercise
of an option to be granted to Mr. Haskell effective upon his appointment
to the Board of Directors of the Company, which option becomes exercisable
in five cumulative annual installments commencing 12 months after the date
of grant.
(8) Includes the information contained in the notes above, as applicable. Does
not include 81,000 shares of Common Stock issuable upon the exercise of
options to be granted to the three other executive officers effective upon
the completion of this offering, which options become exercisable in four
cumulative annual installments commencing 24 months after the completion
of this offering.
-=--------------
From the latest Quarterly
The Company has exposure to currency fluctuations as a result of
billing certain of its contracts in foreign currency. When selling to
customers in countries with less stable currencies, the Company bills in U.S. dollars. For the nine months ended September 30, 1997, approximately 3% of the Company's revenues was billed in currencies other than U.S. dollars.
Substantially all of the costs of the Company's contracts, including costs subcontracted to Alchut, have been, and will continue to be, U.S.dollar-denominated except for wages for Engineering employees which are denominated in local currency. The Company intends to continue to enter into U.S. dollar-denominated contracts.
-Still holding |
