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In an indication that venture capitalists and other insiders aren't insistent on instant liquidity, the management team of Healthcentral.com (NNM:HCEN) announced last Monday that they pounded out a new lock-up agreement that extends its original agreement, scheduled to expire June 5, by 120 days.
The move is seen as an expression of management's confidence that the company will be able to recover from the troubles it, and other online health sites, have been facing of late. "It was a prudent decision given where the stock is trading," said Healthcentral chief financial officer C. Fred Toney. Since pricing at $11 on December 6, HealthCentral's stock hit a high of 14 3/8 in January, but has been...