Lyft says IPO lock-up period will end early

Lyft (LYFT) shares wavered during extended trading Wednesday after the company said it would allow company directors and officers to sell their shares at an earlier date than previously scheduled, following the company’s March initial public offering. The announcement came in a securities filing Wednesday after market close. “The lock-up period is scheduled to end on September 24, 2019, which falls within the Company’s quarterly blackout period that commences at the end of the day on August 31, 2019,” the company said in the filing. “Therefore, in accordance with the lock-up agreements with the underwriters, the lock-up period will end at the open of trading on August 19, 2019, which is ten trading days prior to the commencement of the Company’s quarterly blackout period. The Company will also release the market standoff agreements when the lock-up period expires.”