Audience Announces Extension of Lock-Up Period
MOUNTAIN VIEW, Calif., Nov. 1, 2012 (GLOBE NEWSWIRE) -- Audience, Inc.
(Nasdaq:ADNC), the leader in advanced voice and audio processing for mobile
devices, today announced that pursuant to the underwriting agreement and
individual lock-up agreements executed in connection with its initial public
offering (IPO), the term of the lock-up agreements between its pre-IPO
stockholders and the IPO underwriters has been automatically extended through
November 11, 2012. The lock-up agreements restrict dispositions of company
securities within 180 days after the date of Audience's final prospectus
relating to the IPO, unless during the last 17 days of the 180-day restricted
period, Audience issues an earnings release or other specified events occur,
in which case the lock-up period is extended. Audience announced earnings for
the three months ended September 30, 2012 on October 25, 2012 and therefore
the lock-up agreements continue to apply until the expiration of the 18-day
period beginning on the issuance of the earnings release, or November 11, 2012
given the date of Audience's earnings release.
Audience is the leader in advanced voice and audio processing for mobile
devices. Its family of earSmart™ intelligent voice processors is based on the
processes of human hearing, to suppress background noise and enhance mobile
voice quality. Audience's technology substantially improves the mobile voice
experience, while also improving the performance of speech-based services, and
enhancing audio quality for multimedia. Audience earSmart™ processors are
featured in mobile devices from leading providers in Asia-Pacific, Europe and
the U.S. The company is based in Mountain View, California. For more
information, see www.audience.com.
The Audience, Inc. logo is available at
CONTACT: Investors and Shareholders
The Blueshirt Group
Media and Industry Analysts
Press spacebar to pause and continue. Press esc to stop.