Angus Reid, the Executive Chairman of research community and survey tech firm Vision Critical, sold $10.5m worth of company shares last month, in a move which one analyst is claiming 'clears the deck' for a potential IPO.
Last week, Vision Critical announced that Difference Capital Financial had acquired $3.5m worth of these shares. In a subsequent blog post published by Wellington Financial, one of the firm's investors, CEO Mark McQueen said that some of Reid's shares had also been acquired by Phil Deck, formerly Chairman and CEO of software firm MKS, as well as by other investors who he suggested 'you'd expect to be first in line for any IPO roadshow'.
McQueen added in his blog: 'Last month's $10.5 million secondary offering was a natural precursor to anything the Board may want to do later this year. For Dr. Reid, who is and remains a very large shareholder (and was the sole seller on this round), it made eminent sense to do his family estate planning now, rather than via any eventual IPO.'
Web site: www.visioncritical.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.