Author Topic: Lending Club IPO for retail investors  (Read 12152 times)

PeerSocialLending

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Lending Club IPO for retail investors
« on: October 21, 2014, 11:41:33 AM »
Now that we are certain shares will be available to retail investors (who have invested in notes in LC as of Sept 30, 2014), I'm wondering how many people plan on investing at the IPO price and how much.  Will you wait to get your shares after they are public?  I think it's a unique opportunity especially given the restriction.  My plan is to invest, I'm just not sure how much yet - perhaps the amount of interest I've received from Lending Club.

see: http://www.lendacademy.com/lending-club-ipo-retail-investors/
-Ryan
p2p lending blogger @ www.peersociallending.com

mikedave

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Re: Lending Club IPO for retail investors
« Reply #1 on: October 21, 2014, 01:11:36 PM »
I will probably invest, depending on the terms

core

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Re: Lending Club IPO for retail investors
« Reply #2 on: October 21, 2014, 01:50:39 PM »
I'm going to short the stock and then contact all the news sites with details of all LC's dirty secrets, lies, and examples of incompetence.  Not as a public service; it's all about profit.  Profit for me.

With that said, I will still buy some shares and dump them first if I'm allowed to participate as a Folio investor.  They didn't make it clear who was eligible... Does "our marketplace" include Folio?

brycemason

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Re: Lending Club IPO for retail investors
« Reply #3 on: October 21, 2014, 02:12:42 PM »
I'm pretty sure Folio traders would qualify, as those fractions still show up in your LC account. Of course, Stephanie may have stricken your name from the list!

Fred

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Re: Lending Club IPO for retail investors
« Reply #4 on: October 21, 2014, 02:58:10 PM »
I'll pass on LC equities; I have a lot of risks riding on LC notes already.

rawraw

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Re: Lending Club IPO for retail investors
« Reply #5 on: October 21, 2014, 03:50:52 PM »
I'll pass on LC equities; I have a lot of risks riding on LC notes already.
Don't you want to get on that origination income gravy train?

Fred

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Re: Lending Club IPO for retail investors
« Reply #6 on: October 21, 2014, 04:00:20 PM »
I'll pass on LC equities; I have a lot of risks riding on LC notes already.
Don't you want to get on that origination income gravy train?

Ha ha ..., I can always join the options bandwagon later. ;-)

LonghornSF

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Re: Lending Club IPO for retail investors
« Reply #7 on: October 22, 2014, 02:40:33 PM »
At a $5 billion valuation I will definitely pass. The underlying LC business is nowhere near as profitable as people think.

Victor

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Re: Lending Club IPO for retail investors
« Reply #8 on: October 22, 2014, 06:17:53 PM »
*Bows to financial overlords*

I welcome the opportunity to be nickel and dimed and possibly fleeced as both a lender and a shareholder.

turing

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Re: Lending Club IPO for retail investors
« Reply #9 on: October 23, 2014, 12:09:26 PM »
Have they announced any of the details for how this will work?

How many shares? who to purchase them through? limit to number of shares per user? etc.

Fred93

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Re: Lending Club IPO for retail investors
« Reply #10 on: October 23, 2014, 12:37:31 PM »
Have they announced any of the details for how this will work?

How many shares? who to purchase them through? limit to number of shares per user? etc.

no no no.

turing

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Re: Lending Club IPO for retail investors
« Reply #11 on: October 23, 2014, 12:41:33 PM »
I just saw Peter's article saying Lending Club gave "no comment" when asked about more details.

I might be interested in buying shares but I'm definitely not getting excited with no news about how it will work.  It could be a crazy Hunger Games style lottery for all we know.

core

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Re: Lending Club IPO for retail investors
« Reply #12 on: October 23, 2014, 08:15:14 PM »
I welcome the opportunity to be nickel and dimed and possibly fleeced as both a lender and a shareholder.

Such positivity, Victor.  I like it.  Dealing with Lending Club is a lot like going to a singles bar:  You fork out money $25 per round with the intention of having an enjoyable experience, but spend most of the duration wondering if you're going to get screwed.

Have they announced any of the details for how this will work?

How many shares? who to purchase them through? limit to number of shares per user? etc.

no no no.

There were actually 4 questions, Fred93, but you get 3 bronze star stickers on the board for effort.

I might be interested in buying shares but I'm definitely not getting excited with no news about how it will work.  It could be a crazy Hunger Games style lottery for all we know.

Here are my predictions:

Shares will be released 4 times a day.  You will have to set your alarm clocks and scramble to put in your orders.  Then you will have to wait 30 days to find out the outcome.  You may get your shares, or your money may have been needlessly tied up for that long.  Most of the reserved shares will go to fat cats who were part of the syndicate from the beginning anyway.

Then a week in we will see a bunch of half-baked 3rd party sites pop up to make the process easier:  IPO Radar, Peep Fleecing Server, ThinkFastCigarSmoker, ShaftRoller, PlebCube, BlueDivestment, etc.  When a potential investor comes to this forum asking a question about how to do this-or-that regarding buying shares, a flurry of responses will follow saying, "I don't know how to do it on LC, but sign up for my kool site".  Ad nauseum.

Sounds pretty crazy, I know.
« Last Edit: October 23, 2014, 08:19:05 PM by core »

Fred93

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Re: Lending Club IPO for retail investors
« Reply #13 on: October 23, 2014, 11:27:09 PM »
I just saw Peter's article saying Lending Club gave "no comment" when asked about more details.

That's the only thing they can say at this point.  They'll get in trouble with SEC if they say stuff that's not in the S1.  Most  recent draft of the S1 just says "TBD" for these details, so that's it for now.  Check the next draft.

core

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Re: Lending Club IPO for retail investors
« Reply #14 on: October 24, 2014, 12:40:28 AM »
I'm pretty sure Folio traders would qualify, as those fractions still show up in your LC account.

Thanks for the glimmer of hope, Bryce, but I'm not at all sure that "pretty sure" amounts to much. 

According to Peter's post, they worded it as such:  "investors that have invested through our marketplace as of September 30, 2014".

Emphasis mine, of course.  Not investors who have notes outstanding, present-tense, on the 'marketplace' as of Sep 30, but investors who have invested through our marketplace.  English is such a rich language.  I read that to mean that any investor, present or past, who has invested "through our marketplace" is eligible.  That means Sally Jo who bought one note back in 2007 on the primary platform and then cashed out via Folio the next day is still eligible.

The rub comes from what "through our marketplace" means.  Lending Club has (in the past) gone to great lengths to convince us all that Folio is some remote monster, a different site altogether.  I think all of us here know differently now, but that doesn't change the possible legal distinction.  If "our marketplace" includes Folio, then they will have to admit that it was all run by them in the first place. 

Of course, Stephanie may have stricken your name from the list!

That is a very real possibility, and one that I have already considered.  But Stephanie (and LC) has very little to gain by striking my name from the list, except to piss me off.  I will miss out on any short-term profit, but I think I will get better mileage out of it right here on the forum if that happens.  Net zero for them.  Plus, if that happens I will let on that Stephanie looks much older than she really is, at 28.  Oops I guess I just did.  Hard to believe one 28 year old woman can cause so much trouble around here. 

She shares a birthday with Fidel Castro and Hitchcock.  What does that tell you astrologists about her mental stability?  Castro was bad enough, but a woman scorned...?
« Last Edit: October 24, 2014, 01:14:54 AM by core »