When SIND insiders can sell

Sinda Ltd. · IPO prospectus filed 2026-06-29 · Single cliff · 180-day lock-up

Scheduled lock-up expiry
2026-12-26

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.

NYSE under the symbol "SIND." Lock-Up Agreements We and all of our directors and executive officers and the holders of substantially all of our outstanding common stock, stock options and restricted stock units, including Fresnillo, have agreed that, subject to certain exceptions, we and they will not, for a period of 180 days following the date of this prospectus (the " Lock-up Period "), without the prior written consent of Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc. and BMO Capital Markets Corp. on behalf of the underwriters: offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or exercisable or exchangeable for share…

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 offering156,774,750
Underwriters' over-allotment option2,662,500

Exceptions written into the lock-up (5)

Each of these is a route by which SIND shares can move before 2026-12-26. 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
  • directed share program participants
  • option exercise or RSU settlement
10b5-1 plan
…nt sales of the common stock or other securities acquired in open market transactions); or facilitating the establishment of a trading plan on behalf of a stockholder, officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of common stock ( provided that (i) such plan does not provide for the transfer of common stock during the Lock-up Period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the undersigned or the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of common stock may be made under such plan during the Lock-up Period).
bona fide gift or charitable transfer
The restrictions described in the immediately preceding paragraph do not apply to: transfers as bona fide gift or for bona fide estate planning purposes, by will or intestate succession, or to immediate family members or trusts for their benefit (provided that such transfers do not involve a disposition for value, the transferee agrees to be bound by the lock-up and no filing under Section 16(a) reporting a reduction in beneficial ownership is required or voluntarily made during the Lock-up Period); for any cor…
estate planning or family transfer
…or will be a participant; the amount involved exceeded or will exceed $120,000; and any of our directors, executive officers, or beneficial owners of more than 5% of any class of our capital stock, or any members of the immediate family of or any entity affiliated with any such person, had or will have a direct or indirect material interest. Term Loans On May 14, 2024, we entered into the May 2024 Term Loan with ESOF II for an aggregate principal amount of $6.0 million, bearing interest at a rate of 12.00% per annum. On November 1, 2024, we entered into the November 2024 Term Loan with EGH for an aggregate principal amount of $6.0 million, bearing interest at a rate of 12.00% per annum.
directed share program participants
" Directed share program At our request, the underwriters have reserved for sale, at the initial public offering price, up to 5% of the common stock offered by this prospectus for sale to our directors, officers, employees, consultants and existing stockholders and other persons having a relationship with us, such as suppliers, or having a relationship with our directors, officers, employees, consultants and existing stockholders.
option exercise or RSU settlement
…mation in this prospectus, including the number of shares that will be outstanding after the completion of this offering and other share-related information, excludes: 11,773,851 shares of common stock issuable upon the exercise of stock options outstanding as of March 31, 2026, at a weighted average exercise price of $2.92 per share; 480,000 shares of common stock issuable upon the settlement of restricted stock units outstanding as of March 31, 2026, all of which will vest upon the completion of this offering and are expected to be issued shortly following the completion of this offering; 776,500 shares of common stock issuable up…

What we could not establish

SIND 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 SIND could be wrong

The volume is a vendor's, not ours. SIND 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 2026-12 (13)

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

DealExpiryShares freeAbsorb days
LFTO
Liftoff Mobile, Inc.
2026-12-015.0M7.4 sessions
INIO
INNIO N.V.
2026-12-01——
SSMR
Sunshine Silver Mining & Refining Co
2026-12-02——
QNT
Quantinuum Inc.
2026-12-02233.0M95.0 sessions
EROC
ERock, Inc.
2026-12-07——
PBLS
Parabilis Medicines, Inc.
2026-12-08——
LIME
Neutron Holdings, Inc.
2026-12-09——
SPCX
SPACE EXPLORATION TECHNOLOGIES CORP
2026-12-0911.96B109 sessions
KARD
Kardigan, Inc.
2026-12-1564.3M124 sessions
FCBM
First Carolina Financial Services, Inc.
2026-12-1520.4M121 sessions
DPC
DPC Holdings Ltd
2026-12-23——
BSP
Bending Spoons S.p.A.
2026-12-28——
ITG
ITG, Inc./DE/
2026-12-29101.7M129 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 · SIND's prospectus on EDGAR · what funds carried these companies at before listing