Select Medical Sits Down to the Lockup Table

Only one deal is on the lockup table for the next two weeks: Select Medical (SLMC), a Pennsylvania-based company whose stock price has suffered in recent months.

On April 4, Select Medical, which operates specialty acute-care hospitals, priced 9 million shares at $9.50, just below the $10 to $11 price range. The stock traded up 6.58% on its first day of trading, and it closed Thursday at $13.07, still significantly higher than the IPO. Nevertheless, it's in the hot seat right now.

The Slide of Select Medical Shares have been suffering since August

Since Aug. 28, Select Medical's stock price has been on a downward slide. No, let me rephrase that -- the stock has been toppling off little cliffs since then. One thing's for certain: The past two months have been ugly for Select Medical, and a pending lockup expiration doesn't help. Although officers and directors, who are typically associated with longer-term investment goals, make up the majority of Select Medical's shareholders, they may find this a good time to sell while they still have a healthy profit. Look at it this way: When a stock price falls that much in two months, insiders have to be a little bit worried about how low it can go.

Here's the list for this week:

Lockup End	Deal Name		Released	Outstanding
10/1/01	SELECT MEDICAL CORP (SLMC:Nasdaq)		33,713,087	45,327,232
	Merrill Lynch	SEC Filings	74.38%*	News
Source ipoPros.com			*Released shares as a percentage of outstanding.

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