When ATTO insiders can sell

Attovia Therapeutics, Inc. · IPO prospectus filed 2026-08-05 · Single cliff · 180-day lock-up

Scheduled lock-up expiry
2027-02-01

That is the calendar date the clause computes to, counted from the prospectus date. It is the only date computable without knowing a future earnings date, which is why everything that could pull it earlier is printed below it on this page rather than folded into it.

How much stock, against how much trades

"Absorb days" is the shares coming free divided by average daily volume: how many full sessions of ATTO's entire turnover the release amounts to. It is a ratio, not a forecast — it does not know who wants to sell, and a founder with no intention of selling counts the same as a fund that has been waiting six months.

Shares coming free
26.0M
Avg daily volume
342K
Absorb days
76.2 sessions
Cohort percentile
45th
Offer price
$17.00
Vs offer
-10.2%

Exactly 26,029,017 shares, against 341,690 shares a day averaged over 20 sessions. Volume source: yahoo-finance2 daily bars (symbol not in our price table), through 2026-11-06. Dollar volume $5.2M a day. Middle third — no call.

Why there is no call on this deal

The numbers above are published, but no dated call was issued. A call only goes in the ledger when the expiry falls 15 to 45 days out, the prospectus states or implies a share count, and there are at least 20 sessions of volume — and the middle third of the cohort gets no call at all, because a call on every deal is not a call. Publishing one here would be padding the scoreboard with a coin flip.

The lock-up clause, in the issuer's words

Every other free lock-up calendar tells you 180 days and moves on. This is the actual sentence the date above was computed from, so that if the words do not support the number, the number is wrong and the filing is one click away.

The lock-up agreements pertaining to this offering will expire 180 days from the date of this prospectus. However, Morgan Stanley & Co. LLC, Leerink Partners LLC, Citigroup Global Markets Inc. and RBC Capital Markets, LLC may, in their sole discretion, permit our officers, directors and other stockholders to sell shares prior to the expiration of the lock-up agreements. After the lock-up agreements expire, based on 26,029,017 shares outstanding as of March 31, 2026, approximately up to an additional 26,749,461 shares of common stock will be eligible for sale in the public market, approximately 15,044,561 of which shares are held by our officers, directors and their affiliated entities, and will be subject to volume limitations under Rule 144 under the Securities Act.

Where the share count comes from

26,029,017 shares — stated in the prospectus. A count the prospectus prints and a count derived from two of its other numbers are not the same quality of claim, so which one this is gets said rather than implied.

Shares outstanding after the offering43,029,017
Shares sold in the offering17,000,000
Locked up, coming free at expiry26,029,017
The sentence the count was read from
After the lock-up agreements expire, based on 26,029,017 shares outstanding as of March 31, 2026, approximately up to an additional 26,749,461 shares of common stock will be eligible for sale in the public market, approximately 15,044,561 of which shares are held by our officers, directors and their affiliated entities, and will be subject to volume limitations under Rule 144 under the Securities Act. After this offering, the holders of an aggregate of 24,822,612 shares of our outstanding common stock as of March 31, 2026 will have rights, subject to some conditions, to require us to file registration statements covering their shares or to include their shares in registration statements that we may file for ourselves or our stockholders.

Exceptions written into the lock-up (4)

Each of these is a route by which ATTO shares can move before 2027-02-01. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.

  • 10b5-1 plan
  • bona fide gift or charitable transfer
  • estate planning or family transfer
  • option exercise or RSU settlement
10b5-1 plan
Rule 10b5-1 Plans Our directors, officers and key employees may adopt written plans, known as Rule 10b5-1 plans, in which they will contract with a broker to buy or sell shares of our common stock on a periodic basis. Under a Rule 10b5-1 plan, a broker executes trades under parameters established by the director or officer when entering into the plan, without further direction from the director or officer. The director or officer may amend or terminate a Rule 10b5-1 plan, subject to certain requirements.
bona fide gift or charitable transfer
…t sales of common stock or other securities acquired in this offering or in such open market transactions; 216 Table of Contents transfers of shares of common stock or any security convertible into common stock as (i) a bona fide gift; or to a charitable organization or educational institution, (ii) to an immediate family member of the holder or to any trust for the direct or indirect benefit of the holder or an immediate family member of the holder, or if the holder is a trust, to a grantor, trustee or beneficiary of the trust (including such beneficiary's estate) of the holder, (iii) to any corporation, partnership, limited liabil…
estate planning or family transfer
…other health care professionals (such as physician assistants and certain advanced practice nurses), and teaching hospitals, as well as ownership and investment interests held by the physicians described above and their immediate family members, with the information made publicly available on a searchable website; the Foreign Corrupt Practices Act (FCPA), which prohibits U.S. businesses and their representatives from directly or indirectly offering to pay, paying, promising to pay or authorizing the payment of money or anything of value to a foreign official in order to influence any act or decision of the foreign official in his or…
option exercise or RSU settlement
…le preferred stock as of March 31, 2026 into an aggregate of 21,517,976 shares of our common stock in connection with the completion of this offering, and excludes: 2,704,695 shares of our common stock issuable upon the exercise of stock options outstanding as of March 31, 2026 under our 2023 Equity Incentive Plan (2023 Plan), with a weighted-average exercise price of $4.03 per share; 87,914 shares of our common stock issuable upon the exercise of stock options granted after March 31, 2026 under our 2023 Plan, with a weighted-average exercise price of $9.07 per share; 5,283,264 shares of our common stock reserved for future issuance…

How this reading of ATTO could be wrong

The lock-up period is restated 4 times in this prospectus. Issuers repeat the clause on the cover, in the summary, in the risk factors and in the underwriting section, and the wording is not always identical. The parser resolved them to one period; if a reader finds a restatement that disagrees, the quote above is the one it used.

The volume is a vendor's, not ours. ATTO is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.

Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.

The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.

Also unlocking in 2027-02 (4)

Lock-ups cluster, because IPOs cluster: these priced in the same window as ATTO and come free in the same month. Several heavy releases landing together is a different situation from one.

DealExpiryShares freeAbsorb days
BRVE
Braveheart Bio, Inc.
2027-02-0251.9M139 sessions
LTGO
Latigo Biotherapeutics, Inc.
2027-02-0344.0M193 sessions
BLSM
BlossomHill Therapeutics, Inc.
2027-02-0321.3M137 sessions
VOGX
Vogenx, Inc.
2027-02-087.7M81.5 sessions

Learn to read these clauses yourself

The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.

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Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · ATTO's prospectus on EDGAR · what funds carried these companies at before listing