Certain Warrants of Asset Entities Inc. are subject to a Lock-Up Agreement Ending on 3-FEB-2024.
February 02, 2024
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Certain Warrants of Asset Entities Inc. are subject to a Lock-Up Agreement Ending on 3-FEB-2024. These Warrants will be under lockup for 366 days starting from 2-FEB-2023 to 3-FEB-2024.
Details:
The officers, directors and holders of 87.7% of outstanding common stock have agreed to be locked up for a period of 12 months from the date on which the trading of Class B Common Stock commences. Holders of 7.5% of outstanding common stock have agreed to be locked up for a period of nine months from the date on which the trading of Class B Common Stock commences. A holder of 2.4% of outstanding common stock prior to this offering has agreed to be locked up for a period of six months from the date on which the trading of Class B Common Stock commences with respect to 1.4% of the outstanding common stock held by such holder, subject to certain exceptions, with the remaining 1.0% held by such holder not being subject to any contractual lock-up. During the lock-up period, without the prior written consent of the representative, they shall not, directly or indirectly, (i) offer, pledge, assign, encumber, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, any shares of common stock or any securities convertible into or exercisable or exchangeable for common stock, owned either of record or beneficially by any signatory of the lock-up agreement on the date of the prospectus or thereafter acquired; (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the common stock or any securities convertible into or exercisable or exchangeable for common stock, whether any such transaction described in clauses (i) or (ii) above is to be settled by delivery of common stock or such other securities, in cash or otherwise, or publicly announce an intention to do any of the foregoing; and (iii) make any demand for or exercise any right with respect to, the registration of any shares of common stock or any security convertible into or exercisable or exchangeable for common stock. In addition, holders of the remaining 2.4% of outstanding common stock prior to this offering have agreed to be locked up until 365 days after the date on which the trading of common stock commences, subject to the certain exceptions.
Asset Entities Inc. is a technology company. The Company provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It also designs, develops, and manages servers for communities on Discord. It has developed three categories of services, including Discord investment education and entertainment services, social media, and marketing services, and AE.360.DDM services. All of its services are based on its use of Discord, as well as other social media, including TikTok, Twitter, Instagram, and YouTube. Its Discord investment education and entertainment service is designed primarily by and for Generation Z, retail investors, creators, and influencers. Its social media and marketing services utilize its managementâs social influencer backgrounds by offering social media and marketing campaign services to business clients. Its AE.360.DDM is a suite of services to individuals and companies seeking to create a server on Discord.