ThredUp rises on early IPO lock-up release

ThredUp

20/08/2021 23:14

** Shares of online second-hand apparel retailer ThredUp Inc
 TDUP.O  up 2.3% at $22.99
    ** Co moves ahead release of IPO lock-up period  urn:newsml:reuters.com:*:nGNX3fgQzT
    ** A lock-up agreement related to an IPO prevents certain
stockholders from selling shares for a specified period of time,
to protect newly public companies from extreme selling pressure
    ** Shares of TDUP which are subject to IPO lock-up agreement
will become eligible for sale at the open of trading on Aug 27
    ** Says it had earlier entered lock-up agreement with
underwriters to restrict sale or transfer of shares through Sept
21; Adds TDUP will be in a trading blackout period on Sept 22
    ** 20% of the shares held by current and former employees,
consultants and  contractors, barring key employees, directors
and executive officers, became eligible for trading on May 12
    ** TDUP's stock opened 30% above IPO price in Nasdaq debut
on March 26  urn:newsml:reuters.com:*:nL4N2LO3SA
    ** Stock up ~23% since debut till Friday's close


 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))