Gogo dives as lockup ends; P-E firm distributes shares and leaves board


With its post-IPO lockup having expired, Gogo (GOGO -9.5%) announces P-E firm Ripplewood Holdings is distributing all 27.6M shares it owns (good for a 32.8% stake) to its limited partners. (PR)

In tandem with the move, all three Ripplewood directors on Gogo's board are resigning. Gogo says it will "promptly consider" whether to find replacements.

Investor Oakleigh Thorne, Gogo's other major P-E backer, intends to hold onto a 29% stake in the in-flight Wi-Fi services provider.

Shares shot higher yesterday in advance of the lockup expiration. Altogether, 56.8M shares (67% of outstanding shares) have become eligible for sale.

From other sites
Comments (1)
  • Jchwvu
    , contributor
    Comments (3) | Send Message
     
    Buying opportunity.
    18 Dec 2013, 05:31 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs