I though Prosper had already done this: http://www.rateladder.com/2007/10/30/prosper-files-s1-with-sec/
From Prosper This morning: http://blog.prosper.com/2008/10/15/prosper-filing-registration-statement-enters-quiet-period/
Related posts:Prosper has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future.The registration filing is a necessary step toward making the secondary lending market available to the community. This is something many of you have been asking for, and we believe the liquidity of a secondary market will make Prosper even more vibrant.
Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. If you’re an existing lender, your current lender agreements will be unaffected; your existing loans will continue to be serviced; you’ll be able to track and monitor your loans; and you’ll be able to withdraw funds from your Prosper account.
If you’re a borrower with an existing loan, you will continue with your current borrower agreement and be unaffected by the registration process. If you’re a borrower seeking a loan, you will still be able to create a new loan listing, which we will endeavor to fulfill through alternative sources.
A successful registration can take several months, but we assure you we will do our best to move forward as quickly as possible. Until this process is complete, we’re required to be in a quiet period and will be unable to respond to press, blogger or other inquiries about Prosper or the registration filing until it becomes effective.
We apologize for any inconvenience this may cause, and want to thank you in advance for your understanding and support.
- Big Lending Club News — Quiet Period Underway for Secondary Market UPDATE: After a second reading I think my assumption about the secondary market is incorrect… (My own hopes for such a market might have clouded my...
- Prosper Update Enhances the Legal Enforceability of Promissory Notes There was a Prosper update last night. Nothing that was completely unexpected… The one thing that struck me as interesting was that borrower’s are now...
- Lending Club Files S1 with SEC Lending Club has filed an S1 with the SEC (link to S1 filing). It looks to be similar in nature to the Prosper filed an...
- Prosper Days 2008 Announced Prosper Days 2008 February 25-26, 2008 Parc 55 Hotel, San Francisco Here is the registration page: Prosper Days 2008 Registration Also new this year… If...
- 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...
If you liked this article, vote for it on del.icio.us and stumbleupon.
Categories:
Prosper.com
Tags:
3 comments ↓
When Lending Club went into their quiet period, I asked someone at Prosper about this and he gave me the impression that Prosper had gone through this. It may be a different situation from LC but still, seeing how long LC’s quiet period has taken, I’m rather concerned about how long Prosper’s will take. If they knew they needed to do this, they should have done it earlier.
And why so suden? I just got an invite yesterday, from Prosper, to come loan more money
Bad timing on Prosper’s part. Lending Club just came out of their quiet period last wee and now has a working secondary market (though only for loans that began since Oct 12 2008).
Leave a Comment