Seeking Alpha

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.
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 Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|