When COAG insiders can sell
Hemab Therapeutics Holdings, Inc. · IPO prospectus filed 2026-05-01 · 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.
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.
LLC, Jefferies LLC, and Evercore Group L.L.C., we and they will not, subject to limited exceptions, during the period ending 180 days after the date of this prospectus: offer, sell, contract to sell, pledge, grant any option, right or warrant to purchase, purchase any option or contract to sell, lend or otherwise transfer or dispose of any ordinary shares or preference shares of Hemab ApS, any shares of our common stock, or any options or warrants to purchase any shares of our common stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of our common stock; enter into any hedging, swap or other arrangement that transfers to a…
Where the share count comes from
The prospectus never prints the number of shares coming free, and nothing in it lets the figure be derived. That is why this deal carries no flow math.
| Shares outstanding after the offering | 6,991,314 |
| Shares sold in the offering | 16,750,000 |
| Underwriters' over-allotment option | 2,512,500 |
Exceptions written into the lock-up (3)
Each of these is a route by which COAG shares can move before 2026-10-28. 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
In addition, certain of our executive officers, directors and stockholders affiliated with our directors may enter into Rule 10b5-1 plans providing for sales of shares of our common stock from time to time. Under a Rule 10b5-1 plan, a broker executes trades pursuant to parameters established by the executive officer, director or affiliated stockholder when entering into the plan, without further direction from the executive officer, director or affiliated stockholder. A Rule 10b5-1 plan may be amended or terminated in some circumstances. O…
…y to our officers, directors and holders of substantially all of our capital stock and securities convertible into or exchangeable for our common stock with respect to: Transfers of Lock-Up Securities (i) as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes, (ii) upon death by will, testamentary document or intestate succession, (iii) if the lock-up party is a natural person, to any member of the lock-up party's immediate family or to any trust for the direct or indirect benefit of the lock-up party or the immediate family of the lock-up party or, if the lock-up party is a trust, to a…
…2023, we have engaged in the following transactions in which the amounts involved exceeded $120,000 and any of our directors, executive officers or holders of more than 5% of our voting securities, or any member of the immediate family of, or person sharing the household with, the foregoing persons, had or will have a direct or indirect material interest. Agreements and Transactions with Stockholders Series B Preference Shares Financing In February 2023, we issued and sold an aggregate of 442,205 shares of our Series B Preference Shares at a purchase price of $305.85 per share for aggregate gross proceeds of $135,248,399.25. The fo…
What we could not establish
COAG is read but not publishable: the prospectus does not state how many shares come free. So there is no absorb-day figure on this page and no call, and there will not be one until the number exists in a filing.
The common case is a prospectus that says "substantially all" of the locked shares become eligible for sale without ever printing a count. The clause above is quoted in full so you can see that for yourself. An estimate presented with a filing link beside it would read as a filing figure, and that is worse than an admission — it is the one failure mode a reader cannot detect.
How this reading of COAG could be wrong
The lock-up period is restated 3 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. COAG 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 COAG 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 |
| AVEX AEVEX Corp. | 2026-10-17 | 95.6M | 34.5 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 |
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 · COAG's prospectus on EDGAR · what funds carried these companies at before listing