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Title: |
Lock-Up Agreement |
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Entities: |
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Date: |
2006 |
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Size: |
8KB total |
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Price: |
$38 |
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ID: |
#2747670 |
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LOCK-UP AGREEMENT
December , 2004
Friedman, Billings, Ramsey & Co., Inc.
1001 Nineteenth Street North, 18th Floor
Arlington, Virginia 22209
Ladies and Gentlemen:
The undersigned understands and agrees as follows:
1. Friedman, Billings, Ramsey & Co., Inc. (?FBR?) propose to enter into a Purchase/Placement Agreement (the ?Purchase Agreement?) with People?s Choice Financial Corporation, a Maryland corporation (the ?Company?), and certain selling stockholder, providing for (a) the initial purchase by FBR of shares of the Company?s common stock, $0.01 par value per share, and the resale of such shares by FBR to certain eligible purchasers, (b) the direct sale by the Company of shares of its common stock to certain accredited investors, and (c) an option for FBR to purchase or place additional shares of the Company?s common stock either for resale by FBR to certain eligible purchasers or for direct sale by the Company to certain accredited investors (all of such shares of the Company?s common stock are collectively referred to as the ?Shares? and the transactions referred to in (a), (b) and (c) above are collectively referred to as the ?Offering?), in each case, in transactions exempt from the registration requirements of the Securities Act of 1933, as amended (the ?Securities Act?).
2. In connection with the Offering and pursuant to the terms of a Registration Rights Agreement to be entered into in connection with the closing of the Offering, the Company has agreed to file with the Securities and Exchange Commission one or more registration statements providing for the resale of the Shares under the Securities Act.
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