JFrog’s stock falls after early release of 25% of locked-up shares

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Shares of JFrog Ltd. fell 4.0% in premarket trading Monday, after the software company that went public in mid-September announced the early lock-up release of one-quarter of the locked-up shares. The company said the price and other conditions of the early release were satisfied on Nov. 20, meaning 25% of the shares subject to lock up will be eligible for sale as of the Nov. 25 opening bell. In JFrog’s filing for its initial public offering, the company said 88% of its outstanding ordinary shares would be locked up, or not eligible for sale, for 180 days. At that time, the company said it had 88.68 million ordinary shares outstanding after the IPO. Nov. 25 is 70 days after the stock started trading on Sept. 16, which priced at $44. The stock has lost 5.8% since the Sept. 16 close through Friday, while the S&P 500 has gained 5.1% over the same time.
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