When LMRI insiders can sell

Lumexa Imaging Holdings, Inc. · IPO prospectus filed 2025-12-12 · Single cliff · 180-day lock-up

Scheduled lock-up expiry
2026-06-10

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.

…ion statement of which this prospectus is a part, subject to certain exceptions, not to offer, pledge, sell, contract to sell, transfer, lend or otherwise dispose of, directly or indirectly, any shares of our common stock or securities convertible into or exchangeable or exercisable for shares of our common stock, for 180 days after the date of this prospectus without first obtaining the written consent of Barclays Capital Inc., J.P. Morgan Securities LLC and Jefferies LLC, on behalf of the underwriters. Upon the expiration of the lock-up period, substantially all of the shares subject to such lock-up restrictions will become eligible for sale, subject to the limitations discussed above. For a further description of these lock-up agreements, please see the section titled "Underwriting." 131 Table of Contents Rule 144 Non-Affiliate Resales of Restricted Securities In g…

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 offering94,565,652
Underwriters' over-allotment option3,750,000

Exceptions written into the lock-up (6)

Each of these is a route by which LMRI shares can move before 2026-06-10. 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
  • pledge as collateral
  • option exercise or RSU settlement
  • underwriter discretionary release
10b5-1 plan
…ided that such recipients enter into a lock-up agreement with the underwriters; or (vi) facilitating the establishment of a trading plan on behalf of a stockholder, officer or director of Lumexa Imaging pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of our common stock, provided that (i) such plan does not provide for the transfer of our common stock during the restricted period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by us regarding the establishment of such plan, such announcement or filing must include a statement to the effect that no transfer of shares of our common stock may be made under such plan during the restricted period.
bona fide gift or charitable transfer
…up agreements between the underwriters and the lock-up parties do not apply, subject in certain cases to various conditions, to certain transactions, including (a) transfers or dispositions of lock-up securities: (i) as bona fide gifts, or for bona fide estate planning purposes, (ii) by will or intestacy, (iii) (A) to any immediate family member of the lock-up party 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 (B) if the lock-up party is a trust, to a trustor or beneficiary of the trust or to the estate of a beneficiary of such trust, (iv) to a corporation, p…
estate planning or family transfer
Further, the Stark Law prohibits physicians from referring Medicare or Medicaid patients to an entity for certain "designated health services" if the physician (or an immediate family member) has a prohibited financial relationship with that entity, unless an exception applies. Certain radiology services are considered "designated health services" under the Stark Law. The types of financial arrangements between a physician and an entity providing "designated health services" that trigger the self-referral prohibitions of the Stark Law are broad and include direct and indirect ownership and investment interests and compensation arrangements.
pledge as collateral
Substantially all of the assets of the Company are pledged as collateral in connection with the Credit Agreement. Interest Rate Cap Agreements During 2023, the Company entered into two forward interest rate cap agreements with a total notional amount of $1.2 billion. The interest rate cap agreements have the economic effect of capping the Company's exposure to SOFR variable interest rate changes on the Company's floating rate term loan. Under these agreements, the SOFR variable interest rate is capped at 5.125%.
option exercise or RSU settlement
LLC and after taking into account any distribution threshold applicable to such common units, as further described in the section titled "Organizational Structure;" 5,572,698 shares of our common stock issuable upon the exercise of stock options issued prior to the closing of this offering as replacement awards under the 2025 Plan for certain outstanding incentive units in Holdings LLC for which the distribution threshold is equal to or greater than $2.04 per unit, with the number of shares subject to such stock options calculated based on the value of those units at the time of this offering, as determined by the board of managers…
underwriter discretionary release
In addition, the representatives of the underwriters may, in their sole discretion, release all or some portion of the shares of our common stock subject to lock-up agreements at any time and for any reason. Upon the expiration of the lock-up agreements described above and further summarized in the section titled "Underwriting," all of such shares will be eligible for resale in a public market, subject, in the case of shares held by our affiliates, to volume, manner of…

What we could not establish

LMRI 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 LMRI 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. LMRI 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 2026-06 (4)

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

DealExpiryShares freeAbsorb days
PARK
Park Dental Partners, Inc.
2026-06-01——
WLTH
WEALTHFRONT CORP
2026-06-10124.8M54.1 sessions
ITHA
ITHAX Acquisition Corp III
2026-06-13——
ANDG
Andersen Group Inc.
2026-06-1598.3M251 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.

Lesson 6 →

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