Active Software Underwriter Grant Early Lock-Up Release
SANTA CLARA, Calif. -- Active Software Inc. (ASWX) said Goldman Sachs & Co. (GS) will grant
early release from the underwriters' 180-day lock-up restrictions on up to 2.6 million shares of the
company's stock on Jan. 10.
On Aug. 12, Dow Jones Newswires reported Active Software's initial public offering of 3.5 million
shares priced at $11 each, through underwriters led by Goldman Sachs and Lehman Brothers Holdings
In a press release Friday, Active Software, which provides electronic business integration software,
said 50% of the remaining shares held by stockholders participating in the lock-up release will continue
to be subject to lock-up restrictions, which expire on Feb. 9, while the remaining shares will be subject
to an additional lock-up period expiring on May 9.
The company said none of its employees are participating in the early lock-up release.
The company's shares closed Thursday at 73 1/2, down 8 5/16, or 10.2%.
-Cressida Connolly; Dow Jones Newswires; 201-938-5400