Certain Common Stock of The Singing Machine Company, Inc. are subject to a Lock-Up Agreement Ending on 19-NOV-2022. These Common Stock will be under lockup for 180 days starting from 23-MAY-2022 to 19-NOV-2022.
Details:
Executive officers, directors, and shareholders holding at least 10 percent of the outstanding common stock have agreed, subject to limited exceptions, without the prior written consent of the underwriter not to directly or indirectly offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of (or enter into any transaction or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time in the future of) our common stock, enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares of our common stock, or publicly disclose the intention to do any of the foregoing, subject to customary exceptions, for a period of 180 days from the date of this prospectus.