Certain Class B Common Stock of Robinhood Markets, Inc. are subject to a Lock-Up Agreement Ending on 2-DEC-2021.
December 01, 2021
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Certain Class B Common Stock of Robinhood Markets, Inc. are subject to a Lock-Up Agreement Ending on 2-DEC-2021. These Class B Common Stock will be under lockup for 127 days starting from 28-JUL-2021 to 2-DEC-2021.
Details:
All directors and officers and certain stockholders have agreed, subject to certain exceptions, that, without the prior written consent of Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC on behalf of the underwriters, they will not, lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right, or warrant to purchase, or otherwise transfer or dispose of (directly or indirectly) any shares of its Class A common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for its Class A common stock; engage in any hedging or other transaction or arrangement (including, without limitation, any short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other derivative transaction or instrument, however described or defined) which is designed to or which reasonably could be expected to lead to or result in a sale or disposition, or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any shares of its Class A common stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for its Class A common stock, during the period beginning on the date of this prospectus and ending on the 126th day after the date of this prospectus.
Robinhood Markets, Inc. provides financial services platform for everyone, regardless of their wealth, income, or background. It uses technology to provide access to the financial system. Its offerings include Brokerage, Robinhood Crypto, Custody, Robinhood Wallet, Robinhood Gold, and Robinhood Credit Card. Its Brokerage services include investing, options trading, fractional trading, recurring investment, access to investing on margin, fully paid securities lending, cash sweep, instant withdrawals, Robinhood retirement, 24-hour market, and IPO access and directed share program. It also commission-free cryptocurrency trading in the through Robinhood Crypto, LLC. It provides crypto recurring investments, allowing customers to automatically buy crypto, commission-free, on a schedule of their choice. It also holds settled cryptocurrencies in custody on behalf of customers in two types of wallets: hot wallets, which are managed online and cold wallets, which are managed entirely offline.