[fnpiop]

EDIT: I actually read the S1 excerpt wrong.

Update: Note that it is carefully worded: "Our directors, executive officers and holders of a substantial portion of our capital stock and securities convertible into our capital stock".

What probably happened is that the company required holders of only a "substantial portion" of stock to sign updated agreements with the underwriters. Neither I nor any of my Lyft stockholding friends ever entered into such an agreement (and Lyft isn't claiming that we, as minor shareholders, did). So as far as I can tell, nothing blocks us from hedging with Morgan Stanley or otherwise.

(Original post was thinking the S1 is wrong; it is not)

[ikeboy]

Lyft wouldn't be getting upset with Morgan Stanley if all they did was allow minor shareholders who didn't sign agreements to hedge.

[ikeboy]

Source?

[fnpiop]

Unfortunately, the actual agreements generally aren't public information. I can't provide mine without risk of loss of anonymity.

Yes, this is a lame answer, but any viewer who has Lyft stock or has friends that do can verify for themselves.

[bcb1276]

The lock up agreement is publicly available on the SEC’s website (it’s a material contract and therefore required to be filed as an exhibit to the registration statement). The agreement itself is part of the Investors’ Rights Agreement. See section 2.12

https://www.sec.gov/Archives/edgar/data/1759509/000119312519...

[ikeboy]

Seems like it'll hit the courts eventually and then we'll find out if there's a loophole or not.

Lyft is certainly claiming there isn't one, and the S1 says the same. If the S1 is false they might have a securities fraud case on their hands.

[gjap1zq]

What year agreement do you have?

I also signed one - DM me if you want.

[ikeboy]

FYI, HN doesn't have DMs - you could put a throwaway email in your profile

[gjap1zq]

Thanks, I thought I had :)