- 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.