When AVEX insiders can sell
AEVEX Corp. · IPO prospectus filed 2026-04-20 · Single cliff · 180-day lock-up
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 AVEX'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.
Exactly 95,641,700 shares, against 2,774,910 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 $28.3M a day. Lightest third of the cohort.
Our call: Absorbed
AVEX sits in the lightest third of a cohort of 47 deals — lightest third at or below 54.1 sessions, heaviest at or above 109 sessions. The call is cohort-relative, not a fixed threshold, so the same absorb-day figure could read differently against a different month's IPOs. Expected excess return against SPY: non-negative.
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.
…stock or securities convertible into or exchangeable for, or that represent the right to receive, shares of common stock, including LLC Units, during the period from the date of the first public filing of the registration statement on Form S-1 filed in connection with this offering continuing through the date that is 180 days after the date of this prospectus. The lock-up restrictions and specified exceptions are described in more detail under "Underwriters." Any two of the three Representatives may, in their discretion, release all or any portion of the securities subject to these lock-up agreements. See "Underwriters." Prior to the consummation of the offering, certain of our employees, including our executive officers, and/or directors may enter into written trading plans that are intended to comply with Rule 10b5-1 under the Exchange Act. Sales under these trading plans would not be……
Where the share count comes from
95,641,700 shares — derived: shares outstanding after the offering, less the shares sold in it. 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 offering | 111,641,700 |
| Shares sold in the offering | 16,000,000 |
| Underwriters' over-allotment option | 2,400,000 |
| Locked up, coming free at expiry | 95,641,700 |
Class A common stock to be outstanding immediately after this offering 48,344,176 shares (or 50,744,176 shares if the underwriters' option is exercised in full). If all outstanding LLC Units held by the LLC Unitholders were exchanged for newly-issued shares of Class A common stock on a one-for-one basis, 111,641,700 shares of Class A common stock would be outstanding (or 114,041,700 shares of Class A common stock if the underwriters' option is exercised in full). Class B common stock to be outstanding immediately after this offering 63,297,524 shares.
Exceptions written into the lock-up (4)
Each of these is a route by which AVEX shares can move before 2026-10-17. 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
- estate planning or family transfer
- option exercise or RSU settlement
- underwriter discretionary release
See "Underwriters." Prior to the consummation of the offering, certain of our employees, including our executive officers, and/or directors may enter into written trading plans that are intended to comply with Rule 10b5-1 under the Exchange Act. Sales under these trading plans would not be permitted until the expiration of the lock-up agreements relating to the offering described above. Following the lock-up periods set forth in the agreements described above, and assuming that at least two of the three Representatives do not release any parties from these agreements, all of the shares of our Class A common stock that are restricted securities or are held by our affiliates as of the date of this prospectus will be eligible for sale in the public market in compliance with Rule 144 under the Securities Act.
…he material facts of the proposed transaction, including the proposed aggregate value of the transaction; the impact on a director or a director nominee's independence in the event the related person is a director or an immediate family member of the director or director nominee; the benefits to us of the proposed transaction; if applicable, the availability of other sources of comparable products or services; and an assessment of whether the proposed transaction is on terms that are comparable to the terms available to an unrelated third party or to employees generally. The Audit Committee may only approve those transactions that are in, or are not inconsistent with, our best interests and those of our stockholders, as the Audit Committee determines in good faith.
See "—Exchange Agreement." Issuance of LLC Units Upon Exercise of Options or Issuance of Other Equity Compensation Upon the exercise of options issued by us, or the issuance of other types of equity compensation by us (such as the issuance of restricted or non-restricted stock, payment of bonuses in stock or settlement of stock appreciation rights in stock), we will be required to acquire from Holdings LLC a number of Series A Units of Holdings LLC equal to the number of shares of Class A common stock being issued in connection with the exercise of such options or issuance of other types of equity compensation.
The lock-up restrictions and specified exceptions are described in more detail under "Underwriters." Any two of the three Representatives may, in their discretion, release all or any portion of the securities subject to these lock-up agreements. See "Underwriters." Prior to the consummation of the offering, certain of our employees, including our executive officers, and/or directors may enter into written trading plans that are intended to comply with Rule 10b5-1 under the Exchange Act. Sales under these trading plans would not be permitted until the expiration of the lock-up agreements relating to the offering described above.
How this reading of AVEX could be wrong
The lock-up period is restated 2 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. AVEX 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 2026-10 (10)
Lock-ups cluster, because IPOs cluster: these priced in the same window as AVEX and come free in the same month. Several heavy releases landing together is a different situation from one.
| Deal | Expiry | Shares free | Absorb days |
|---|---|---|---|
| SKHY SK hynix Inc. | 2026-10-08 | — | — |
| ARXS Arxis, Inc. | 2026-10-13 | 23.2M | 24.0 sessions |
| ALMR Alamar Biosciences, Inc. | 2026-10-14 | 55.3M | 68.6 sessions |
| KLRA Kailera Therapeutics, Inc. | 2026-10-14 | 84.6M | 83.0 sessions |
| ELMT Elmet Group Co. | 2026-10-20 | 20.3M | 43.0 sessions |
| YSWY Yesway, Inc. | 2026-10-20 | — | — |
| XE X-Energy, Inc. | 2026-10-24 | 348.1M | 54.2 sessions |
| AVLN Avalyn Pharma Inc. | 2026-10-27 | 25.1M | 60.1 sessions |
| SPTX Seaport Therapeutics, Inc. | 2026-10-28 | 38.9M | 160 sessions |
| COAG Hemab Therapeutics Holdings, Inc. | 2026-10-28 | — | — |
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.
Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · AVEX's prospectus on EDGAR · what funds carried these companies at before listing