What is a lock-up agreement and when is it needed?
A lock-up agreement restricts company insiders and early investors from selling their shares for a specified period after an IPO or public offering, typically 180 days. CaseMark generates customized lock-up agreements that comply with underwriter requirements and include all necessary provisions for permitted transfers and exceptions.
How long does it take to draft a lock-up agreement manually?
Manual drafting typically takes 2-3 hours per agreement, including template customization, review of underwriter requirements, and coordination of terms. CaseMark reduces this to approximately 8 minutes by automating the drafting process while maintaining full customization capabilities.
Can I customize the lock-up period and permitted transfers?
Yes, CaseMark allows full customization of lock-up periods, permitted transfer exceptions, and all other provisions. You can adjust the standard 180-day period, modify gift and family transfer provisions, and tailor the agreement to specific underwriter or transaction requirements.
How does CaseMark ensure consistency across multiple securityholder agreements?
CaseMark uses your master inputs to generate consistent terms across all securityholder lock-up agreements automatically. This eliminates the risk of inconsistent lock-up periods, varying permitted transfers, or conflicting provisions that can occur when manually drafting multiple agreements.
What information do I need to generate a lock-up agreement?
You'll need basic company information (name, stock details), underwriter details (name, address), securityholder information, and your preferred lock-up period and terms. CaseMark's guided interface prompts you for all necessary information and provides standard defaults that you can customize.
Are the lock-up agreements compliant with SEC and underwriter requirements?
CaseMark's templates are based on market-standard lock-up provisions commonly required by underwriters and compliant with SEC regulations. All generated agreements are fully editable, allowing you to incorporate specific underwriter requirements or transaction-specific terms as needed.
Can I use CaseMark for lock-up agreements in different states?
Yes, CaseMark allows you to specify the governing law jurisdiction for your lock-up agreement. The platform generates agreements that can be customized for any state's legal requirements while maintaining standard securities law provisions applicable across jurisdictions.