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Author Topic: LC IPO  (Read 25841 times)

alexpkeaton

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Re: LC IPO
« Reply #15 on: December 02, 2014, 02:35:35 pm »

I opened a Fidelity account to (potentially) take advantage of this. It looks like theres no further action needed besides opening the account just yet. One can indicate interest in the IPO, but I dont qualify as I dont have $500k in assets in my Fidelity account. But it sounds like this DSP is separate from the normal IPO process.

Everyone else have the same experience?
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mofo

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Re: LC IPO
« Reply #16 on: December 02, 2014, 06:58:11 pm »

Just got an email from Fidelity (after creating an acct).  It indicates that currently, the anticipated IPO price will be between $10.00 and $12.00. Those deciding to participate must purchase a minimum of 25 shares, and in increments of 25 shares beyond that. After logging in, it seems that there is a maximum of 350 shares (for me, at least).

« Last Edit: December 02, 2014, 07:13:51 pm by mofo »
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havastat

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Re: LC IPO
« Reply #17 on: December 02, 2014, 10:17:49 pm »

I interpreted the net worth question as referring to total assets, not just assets in a Fidelity account. It let me set up an account. I had to set up a new one just for purposes of the Lending Club program.
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alexpkeaton

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Re: LC IPO
« Reply #18 on: December 03, 2014, 08:14:05 am »

A couple hours after my post I received the email and also had a limit of 350 shares. I indicated interest in all 350 because, well, why not? It looks like one can choose to purchase fewer at on December 9. Im still reading through the prospectus and Im not sure Id want to buy $35k worth of something I consider speculative, but well see.
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ira01

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Re: LC IPO
« Reply #19 on: December 03, 2014, 09:52:05 am »

A couple hours after my post I received the email and also had a limit of 350 shares. I indicated interest in all 350 because, well, why not? It looks like one can choose to purchase fewer at on December 9. Im still reading through the prospectus and Im not sure Id want to buy $35k worth of something I consider speculative, but well see.

You mean $3,500.  According to the post above, the anticipated share price is $10-$12. 
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alexpkeaton

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Re: LC IPO
« Reply #20 on: December 03, 2014, 10:37:12 am »

You mean $3,500.  According to the post above, the anticipated share price is $10-$12.
Hah, it appears Im bad at math. Im very comfortable with a $3,500 speculative bet. :D
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loanuniverse

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Re: LC IPO
« Reply #21 on: December 03, 2014, 11:36:05 am »

Same here I went for the 350.... I doubt we will get as many as that.
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"And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done."

loanuniverse

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Re: LC IPO
« Reply #22 on: December 08, 2014, 06:13:04 pm »

As communicated earlier, LendingClub Corporation (“Lending Club”) plans to offer stock through an initial public offering (IPO).  The Issuer has filed an amended preliminary prospectus with the Securities and Exchange Commission and it is now anticipated that the initial offering price will be between $12.00 and $14.00, however the price range and expected pricing date are subject to change prior to the offering. The final purchase price will not be known until the night of pricing of the IPO. It is expected that Lending Club, will be listed on the NYSE under the symbol “LC”.  Fidelity Investments® is pleased to have been selected by Lending Club, to administer the Lending Club Directed Share Program.

Time to revise the big guys. If you want to get in you will probably have to bid higher than $12.

Edit: Never mind, this IPO does not have a bid amount just a number of shares.


« Last Edit: December 08, 2014, 06:14:44 pm by loanuniverse »
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"And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done."

havastat

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Re: LC IPO
« Reply #23 on: December 09, 2014, 07:59:33 pm »

Got that email as well. Looks like Fidelity takes up to 4 days to transfer money from a bank account into the Fidelity brokerage account. So looks like Ill need to pay a wire transfer fee to put more in to allow for the price increase.

A bit concerned that if some snafu leaves me a bit short on settlement day, Ill end up with nothing.
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loanuniverse

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Re: LC IPO
« Reply #24 on: December 09, 2014, 08:36:00 pm »

Got that email as well. Looks like Fidelity takes up to 4 days to transfer money from a bank account into the Fidelity brokerage account. So looks like Ill need to pay a wire transfer fee to put more in to allow for the price increase.

A bit concerned that if some snafu leaves me a bit short on settlement day, Ill end up with nothing.
You dont have to fund the account yet.... the website has the process in steps and you only need to pay after the allocation.

Action   Status
Step 1   Open Account   Complete
Step 2   Review Preliminary Prospectus (PDF)   Complete
Step 3   View offering, complete the FINRA Rule 5130 Qualifying Questions, and enter your Indication of Interest   Complete
Optional   Modify your Indication of Interest   Available Until: December 9, 2014
Step 4   Confirm your Indication of Interest   Deadline: December 10, 2014
Step 5   View allocation of shares and follow payment instructions   Deadline:
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"And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done."

bluestar148

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havastat

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Re: LC IPO
« Reply #26 on: December 10, 2014, 07:01:46 pm »

Just got the confirmation email. Price is at $15. We have until 5 am to confirm. Well get told how much well actually be getting by 9 am tomorrow.
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patsfan54

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Re: LC IPO
« Reply #27 on: December 11, 2014, 09:08:45 am »

As a datapoint -- I asked for the full 350sh and received 250sh.
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bamalucky

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Re: LC IPO
« Reply #28 on: December 11, 2014, 09:33:54 am »

Are you still getting the $15 price? If so,you did good.. Its (so far) going to go for between $22-$24
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patsfan54

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Re: LC IPO
« Reply #29 on: December 11, 2014, 09:38:36 am »

Im seeing the 250sh in my Fidelity account and a debit balance of $3750.  So that pretty clearly means I got the $15 price.
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