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Peregrine Semiconductor Corporation (NASDAQ: PSMI) today announced that pursuant to the underwriting agreement in connection with its initial public offering (IPO), company agreements with certain stockholders, and individual lock-up agreements with the underwriters, the term of the lock-up agreements with its pre-IPO stockholders has been extended through February 10, 2013.
The lock-up agreements restrict dispositions of company securities within 180 days after the date of Peregrine Semiconductor’s final prospectus relating to the IPO, unless during the last 17 days of the 180-day restricted period, Peregrine Semiconductor issues an earnings release or other specified events occur, in which case the lock-up period is extended.
On January 24, 2013, Peregrine Semiconductor announced that it will issue its fourth quarter and full year 2012 earnings release on February 6, 2013. The lock-up agreements provide for an automatic extension until the expiration of the 18-day period beginning on the issuance of the earnings release, unless otherwise waived by the underwriters. The underwriters waived the full 18-day period extension but imposed an extension through February 10, 2013.
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