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Prosper Files S1 With SEC

Here is a link to the Prosper S1 SEC Filing

S1 From Wikipedia (here):

Form S-1 is an SEC filing used by public companies to register their securities with the U.S. Securities and Exchange Commission (SEC). The S-1 contains the basic business and financial information on an issuer with respect to a specific securities offering. Investors may use the prospectus to consider the merits of an offering and make educated investment decisions. A prospectus is one of the main documents used by an investor to research a company prior to an initial public offering (IPO). Other less detailed registration forms, such as Form S-3 may be used for certain registrations.

This morning I found this: http://biz.yahoo.com/bw/071031/20071031005280.html?.v=1

Following effectiveness of the registration statement, Prosper intends to establish and maintain a secondary trading market online auction platform, or Resale Platform, pursuant to which lenders may seek to transfer borrower notes to other Prosper registered lenders.

The registration statement relates to the Prosper Marketplace Lender Participant Rights, which represent Prosper’s obligations to seek to establish and maintain the Resale Platform and to provide various administrative, clerical, recordkeeping, identity verification, payment processing, collection and other services, associated with $500,000,000 in aggregate principal amount of Prosper Marketplace Borrower Non-Recourse Notes originated and to be originated on the Platform from time to time after the registration statement is declared effective by the SEC.

All of the securities to be sold in this offering will be sold by Prosper through the operation of the Platform

Bring on the secondary market!!!

October 30, 2007 | Filed Under Features, Prosper.com 

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comments

5 Responses to “Prosper Files S1 With SEC”

  1. stylized.fact on November 11th, 2007

    What has the history of this been? According to one source (http://www.fdic.gov/about/comein/files/The_Ebay_of_Loans.pdf), there has already been one failed attempt by prosper.com to create a secondary market. Does anyone have further detail on this?

  2. DebtKid on April 12th, 2008

    Have you heard any update on this from Prosper? I’ve e-mailed them for comment, but so far no response. It’s my understanding that the SEC usually responds to this type of filing….yet I can’t find any update on this at all from Prosper. I’m assuming its dead….but…

  3. RateLadder on April 12th, 2008

    I am pretty sure that one way or the other any SEC response would be public… I certainly do NOT think this is dead.

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