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0 pointsfnpiop6y ago0 comments

EDIT: I actually read the S1 excerpt wrong.

Update: Note that it is carefully worded: "Our directors, executive officers and holders of a substantial portion of our capital stock and securities convertible into our capital stock".

What probably happened is that the company required holders of only a "substantial portion" of stock to sign updated agreements with the underwriters. Neither I nor any of my Lyft stockholding friends ever entered into such an agreement (and Lyft isn't claiming that we, as minor shareholders, did). So as far as I can tell, nothing blocks us from hedging with Morgan Stanley or otherwise.

(Original post was thinking the S1 is wrong; it is not)

0 comments

ikeboy6y ago

Lyft wouldn't be getting upset with Morgan Stanley if all they did was allow minor shareholders who didn't sign agreements to hedge.

ikeboy6y ago

Source?

fnpiopOP6y ago

Unfortunately, the actual agreements generally aren't public information. I can't provide mine without risk of loss of anonymity.

Yes, this is a lame answer, but any viewer who has Lyft stock or has friends that do can verify for themselves.

bcb12766y ago

The lock up agreement is publicly available on the SEC’s website (it’s a material contract and therefore required to be filed as an exhibit to the registration statement). The agreement itself is part of the Investors’ Rights Agreement. See section 2.12

https://www.sec.gov/Archives/edgar/data/1759509/000119312519...

ikeboy6y ago

Seems like it'll hit the courts eventually and then we'll find out if there's a loophole or not.

Lyft is certainly claiming there isn't one, and the S1 says the same. If the S1 is false they might have a securities fraud case on their hands.

gjap1zq6y ago

What year agreement do you have?

I also signed one - DM me if you want.

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0 pointsfnpiop6y ago0 comments

EDIT: I actually read the S1 excerpt wrong.

Update: Note that it is carefully worded: "Our directors, executive officers and holders of a substantial portion of our capital stock and securities convertible into our capital stock".

(Original post was thinking the S1 is wrong; it is not)

0 comments

ikeboy6y ago

Lyft wouldn't be getting upset with Morgan Stanley if all they did was allow minor shareholders who didn't sign agreements to hedge.

ikeboy6y ago

Source?

fnpiopOP6y ago

Unfortunately, the actual agreements generally aren't public information. I can't provide mine without risk of loss of anonymity.

Yes, this is a lame answer, but any viewer who has Lyft stock or has friends that do can verify for themselves.

bcb12766y ago

https://www.sec.gov/Archives/edgar/data/1759509/000119312519...

ikeboy6y ago

Seems like it'll hit the courts eventually and then we'll find out if there's a loophole or not.

Lyft is certainly claiming there isn't one, and the S1 says the same. If the S1 is false they might have a securities fraud case on their hands.

gjap1zq6y ago

What year agreement do you have?

I also signed one - DM me if you want.

1 more reply

j / k navigate · click thread line to collapse