Certain Restricted Stock Units of ACV Auctions Inc. are subject to a Lock-Up Agreement Ending on 20-SEP-2021.
September 19, 2021
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Certain Restricted Stock Units of ACV Auctions Inc. are subject to a Lock-Up Agreement Ending on 20-SEP-2021. These Restricted Stock Units will be under lockup for 181 days starting from 23-MAR-2021 to 20-SEP-2021.
Details:
The selling shareholders, all of directors, executive officers and the holders of all of outstanding common stock and securities exercisable for or convertible into Class A common stock and Class B common stock outstanding immediately on the completion of this offering have agreed that, without the prior written consent of Goldman Sachs & Co. LLC, on behalf of the underwriters, subject to certain exceptions, that they will not, during the period ending 180 days after the date of this prospectus, or the restricted period offer, sell, contract to sell, pledge, grant any option to purchase, lend or otherwise dispose of any shares of common stock, or any options or warrant to purchase, or any securities convertible into, exchangeable for or that represent the right to receive shares of common stock; and engage in any hedging or other transaction or arrangement which is designed to or which reasonably could be expected to lead to or result in a sale, loan, pledge or other disposition, or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any shares of common stock; whether any such transaction described above is to be settled by delivery of common stock or such other securities in cash or otherwise.
ACV Auctions Inc. provides a vibrant digital marketplace for wholesale vehicle transactions and data services, which offers transparent and accurate vehicle information to its customers. The Companyâs platform leverages data insights and technology to power its digital marketplace and data services, enabling its dealers and commercial partners to buy, sell and value vehicles. Its platform includes Digital Marketplace, Data Services and Data and Technology. The Digital Marketplace connects buyers and sellers of wholesale vehicles. The Data Services offers insights into the condition and value of used vehicles for transactions both on and off its marketplace and helps dealers, their end consumers, and commercial partners make more informed decisions to transact with confidence and efficiency. The Data and Technology underpins everything its do, and powers its vehicle inspections, comprehensive vehicle intelligence reports, digital marketplace, and operations automation.