Aterian, Inc. announced that certain stockholders (the “Stockholders”) have voluntarily entered into lock-up agreements with the Company (the “Agreements”) with respect to an aggregate of 4,058,116 shares of common stock (“Lock-up Shares”), or 13.3% of the total issued and outstanding shares of common stock of the Company as of March 31, 2021.
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Aterian’s Co-Founder and CEO, Yaniv Sarig, agreed to lock up all of the shares that he controls through January 1, 2022. Also included among the Stockholders are the Company’s co-founders, Asher Delug and Maximus Yaney (and certain of his affiliates), as well as certain sellers in Aterian’s recent asset acquisitions, 9830 Macarthur LLC and Healing Solutions LLC. Asher Delug and Maximus Yaney (and certain of his affiliates) agreed to lock up a portion of the shares that they control through December 1, 2021, and 9830 Macarthur LLC and Healing Solutions LLC have each agreed to extend, with respect to a portion of their shares, the lock-up agreements entered into in connection with Aterian’s asset acquisitions to December 1, 2021.
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The lock-up agreements stipulate that these stockholders will not sell, pledge, assign, transfer, hypothecate or otherwise dispose of any of the Lock-up Shares, or enter into any swap, hedge or engage in any short-selling of the Lock-up Shares, in addition to other restrictions.
Yaniv Sarig, Co-Founder and CEO of Aterian, commented, “The lock-up agreements announced today reflect the continued confidence that I and other large Aterian stockholders have in the long term prospects of the Company.”
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