Affirm Announces Early Lock-Up Release
Affirm Holdings, Inc. (NASDAQ: AFRM) (“Affirm” or the
"Company”), today announced a partial early lock-up release with
respect to Affirm’s shares of Class A common stock, par value
$0.00001 per share (the “shares”), pursuant to the terms of certain
lock-up agreements (“lock-up agreements”) entered into by certain
of Affirm’s directors, officers, greater than 1% stockholders and
other stockholders (other than current non-officer employees,
former employees, consultants and independent contractors) with the
underwriters of Affirm’s initial public offering.
Pursuant to the terms of the lock-up agreements, the restricted
period will end with respect to 10% of the shares subject to each
lockup agreement if certain share price and other conditions are
met. The conditions for early release were satisfied on February
26, 2021. Accordingly, the Company estimates that up to 15.6
million shares will become eligible for sale in the public market
at the open of trading on March 3, 2021.
The restricted period will continue to apply with respect to all
remaining shares subject to the lock-up agreements.
Affirm’s mission is to deliver honest financial products that
improve lives. With that in mind, we are building the next
generation platform for digital and mobile-first commerce, making
it easier for consumers to spend responsibly and with confidence,
easier for merchants to convert sales and grow, and easier for
commerce to thrive.
version on businesswire.com: https://www.businesswire.com/news/home/20210301005534/en/
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