Volterra Semiconductor Corp. (Fremont, CA), a provider of high-performance analog and mixed-signal power management semiconductors, announced that the lock-up agreements entered into in conjunction with the initial public offering of Volterra common stock will be terminated as of the market close on January 14, 2005.
Volterra had previously announced that it was in discussions with its underwriters regarding the early termination of the lock-up agreements, which had been scheduled to expire on January 24, 2005. The lock-up agreements cover an aggregate of approximately 18 million shares of Volterra common stock. Upon release of the lock-up, these shares will be available for sale subject to any resale restrictions of the federal securities laws, including, in some instances, the limitations of Rule 144 or 701 under the Securities Act of 1933, as amended.
Volterra completed its initial public offering of 4,500,000 shares of common stock on July 28, 2004.