Message Font: Serif | Sans-Serif
No. of Recommendations: 0
The float can be increased if the insiders or underwriters of the IPO sell their shares. The sale would have to be to someone outside this group of individuals/institutions. I think they have to file paperwork with the SEC to do this. I went over to and dug up this information:

# of shares outstanding: 12,546,751

Institutionally held shares: 1,526,242 (up from 1,082,374 three months ago). That leaves about one million shares in individual investor's hands. The stock is becoming even more illiquid for the small investor if everybody else doesn't sell.

Insiders control 53% of the shares (~6,650,000 shares).

I'm pretty sure that the term "insiders" applies to employees of the company. I do not know if it applies to the underwriters of the IPO which are First Security Van Kasper, Needham & Company Inc., and Wedbush Morgan Securities. The underwriters may be restricted from releasing shares according to the structure of the IPO. Most IPO's seem to require the underwriters to hold blocks of stock for designated periods after the IPO (i.e., can't release their own allotments for first 12 months). QBAK went public on 6/23/00. Watch for press releases, probably around April or May if I am right on this issue.

Sorry about the somewhat incomplete information. I haven't been investigating QBAK strongly, just keeping it on the radar screen.

Mr. Spindlelegs
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.