Virtusa Recognized as Global Leader in Gen AI Services by ISG Provider Lens® - Read report
WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 25, 2008--Virtusa Corporation (NASDAQ: VRTU), a global information technology (IT) services company that provides IT consulting, technology implementation and application outsourcing services through an enhanced global delivery model, confirmed today that the lock-up agreements entered into in conjunction with its initial public offering will be extended until Tuesday, February 19, 2008, the first trading day after expiration of the lock-up agreements.
Under the terms of the lock-up agreement, the expiration date of the lock-up was automatically extended for an additional 18 days due to the timing of the Company's quarterly earnings release. The Company recently announced that it intends to release financial results for the third quarter of fiscal year 2008 on Thursday, January 31, 2008.
Upon expiration of the lock-up period, the shares subject to the lock-up restriction will become available for resale subject to applicable restrictions under the federal securities laws, including Rules 144 and 701 under the Securities Act of 1933. Virtusa completed its initial public offering in August 2007.