Major Vonage Share Holders Force Themselves To Hold Shares In Last Ditch Effort To Keep Investors Happy
from the look-ma,-no-registration dept
It seems pretty well accepted at this point that Vonage's IPO was one of the more bungled IPOs in a while. Hyped to a tremendous level, the institutional investors never showed up, and the company resorted to convincing its own customers it was a good investment -- a strategy that backfired when those less sophisticated investors got stuck with stock they didn't want. On top of that, the company's financial position doesn't look promising, just as there's increasing competition. The last thing that the company needs right now is for a bunch of internal shareholders who own a tremendous amount of equity in the company to have their lockup period end, flooding the market with more shares and driving down the price. So, with that in mind, it appears that the biggest shareholders, including founder Jeffrey Cintron, have agreed to change a shareholder rights provision that not only effectively extends the lockup period, but means they don't even have to register their shares with the SEC (meaning they will not be able to sell their shares). It's certainly one way of suggesting these shareholders believe in the company -- putting in place additional handcuffs on themselves to keep them from selling. However, it also has the feel of desperation. If they really believed in the company, they just wouldn't sell. Changing the rules to make it even more difficult for them to sell makes it sound like they're really tempted to sell, but know they shouldn't.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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Wow
That day will be fun.
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Ahead Of The Times...
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Vonage Song
Song: Woo Hoo - 5678s
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Good news for me
Still, making enough to make me happy.
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Think Sprint ION
~RJH
http://www.thatpoliticalblog.com
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I love the service - love that I'm not with AT&T or some other major brand.
This sucks.
I wonder what is so wrong with Vonage that is preventing them from growing like they ought?
Is it the service? Or is the company poorly managed?
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Vonage isn't being made to look like a dog, it is a dog. The pipe owners are not going away, its going to be between the regular guys (AT&T, Verizon) and the cable companies, because they own the infrastructure. Companies that think they can take those deep pockets on directly, selling the same services, thats just nuts. How can you sell a product where a competitor owns your delivery system? How can you guarentee a service where you have zero control over QoS?
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ASSISTANCE
COTE D'IVOIRE
ABIDJAN
Dear
I,Jacob Williams and my Sister . we are orphans being that we lost our father and mother. our late father was a serving director of the Cocoa exporting board until his death. He was assassinated by the rebels following the political uprising. Before his death he has deposited in a bank here in Côte d´Ivoire,the sum of $9 million which was meant for the importation of cocoa processing machine. But he informed the bank that the money belong to his oversea associate who is the beneficiary.
I want you to do us a favour to receive this funds to a safe account in your country or any safer place as the beneficiary. I have plans to do investment in your country, like real estate and industrial products. This is my reason for writing to you. Please if you are willing to assist me and my only sister, indicate your interest in replying soonest. We are willing to offer
you 15% percent of the total sum as your compensation for receiving the money to your country
Thanks and best regards .
Jacob Williams
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