Agora, Inc.'s senior management has entered a lock-up period until December 31, 2025, to demonstrate confidence in the company.
Quiver AI Summary
Agora, Inc. announced that its senior management team, including CEO Tony Zhao and other executive officers, has voluntarily entered a lock-up period until December 31, 2025, demonstrating their confidence in the company's long-term value. During this period, they will not sell any shares of the company, except for up to 0.4 million American Depositary Shares (ADSs) to be sold by CTO Shawn Zhong for personal financial reasons by the end of 2024. Agora, headquartered in Santa Clara, California, is a leader in real-time engagement technology, providing developers with APIs for voice, video, live-streaming, and other interactive capabilities. The company also includes Shengwang, a leading provider in the Chinese market.
Potential Positives
- Senior management's voluntary lock-up period until December 31, 2025, reflects their confidence in the company's long-term value, which may positively influence investor perception.
- The commitment of all executive officers to refrain from selling shares demonstrates alignment with shareholder interests, potentially enhancing trust and stability among investors.
- The planned sale of shares by CTO Mr. Zhong for personal financial reasons indicates a considered approach to personal finance, rather than a lack of confidence in the company's prospects.
Potential Negatives
- The lock-up period for senior management could raise concerns among investors about potential lack of confidence in the company's stock value, especially if executives feel the need to limit their ability to sell shares.
- The voluntary sale of shares by the CTO for personal financial reasons may signal potential liquidity issues or financial pressures within the management team.
- The lengthy lock-up period until December 2025 may lead to increased volatility in the stock price as investors could perceive this as a sign that management does not foresee immediate growth potential.
FAQ
What is the lock-up period announced by Agora, Inc.?
Agora, Inc. has announced a voluntary lock-up period for its senior management team until December 31, 2025.
Who is involved in Agora's lock-up agreement?
The lock-up agreement includes CEO Tony Zhao, CTO Shawn Zhong, CFO Jingbo Wang, and VP Robbin Liu.
Why is Agora's management entering a lock-up period?
The management is expressing confidence in the long-term value of Agora, Inc. through this lock-up period.
Will any shares be sold during the lock-up period?
Yes, Shawn Zhong plans to sell up to 0.4 million ADSs for personal financial reasons by December 31, 2024.
What does Agora, Inc. specialize in?
Agora, Inc. specializes in real-time engagement technology, providing APIs for voice, video, streaming, chat, and AI capabilities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$API Hedge Fund Activity
We have seen 22 institutional investors add shares of $API stock to their portfolio, and 25 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PINPOINT ASSET MANAGEMENT LTD removed 352,012 shares (-51.9%) from their portfolio in Q3 2024
- GGV CAPITAL LLC removed 320,000 shares (-16.0%) from their portfolio in Q3 2024
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 309,266 shares (-100.0%) from their portfolio in Q2 2024
- TEKNE CAPITAL MANAGEMENT, LLC removed 178,220 shares (-100.0%) from their portfolio in Q2 2024
- HARBER ASSET MANAGEMENT LLC added 123,523 shares (+6.1%) to their portfolio in Q3 2024
- CITADEL ADVISORS LLC added 65,464 shares (+165.9%) to their portfolio in Q3 2024
- CAXTON ASSOCIATES LP removed 57,276 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SANTA CLARA, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the “Company”), a pioneer and leader in real-time engagement technology, today announced the Company’s senior management team have voluntarily entered into a lock-up period commencing from today and expiring on December 31, 2025.
For the purpose of expressing confidence in the long term value of the Company, Mr. Bin (Tony) Zhao, founder, chairman and CEO of the Company, Mr. Sheng (Shawn) Zhong, CTO and Chief Scientist of the Company, Mr. Jingbo Wang, CFO of the Company and Mr. Robbin Liu, Vice President of the Company, who comprise all executive officers of the Company, voluntarily undertook, pursuant to the terms contained in the letters of undertaking given to the Company, that they and entities controlled by them shall not in their discretions sell any shares of the Company directly or indirectly beneficially owned by them, until December 31, 2025, save for up to 0.4 million ADSs (representing 1.6 million class A ordinary shares of the Company) to be sold by Mr. Zhong for personal financial reasons. Mr. Zhong expects the sale to be completed by December 31, 2024.
About Agora, Inc.
Agora, Inc. is the Cayman Islands holding company of two independent divisions, under Agora brand and Shengwang brand, respectively, whose businesses are conducted through separate entities.
Headquartered in Santa Clara, California, Agora is a pioneer and global leader in Real-Time Engagement Platform-as-a-Service (PaaS), providing developers with simple, flexible, and powerful application programming interfaces, or APIs, to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.
Headquartered in Shanghai, China, Shengwang is a pioneer and leading Real-Time Engagement PaaS provider in the China market.
For more information on Agora, please visit: www.agora.io
For more information on Shengwang, please visit: www.shengwang.cn
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