Clicky

  • Welcome to P2P Lending / NFT Lending Forum.
 

ETH.LOAN

News:

This was the original Lend Academy peer-to-peer lending forum, since forensically restored by deBanked and now reintroduced to eth.loan.

To restore access to your user account, email [email protected]. We apologize for errors you may experience during the recovery.

Main Menu
NEW LOANS:   | 870.eth 2.500 Ξ | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | ALL

You have to love Wall Street

Started by Peter, June 08, 2016, 11:00:00 PM

Previous topic - Next topic

Half Right


Reuters: Former LendingClub CEO Laplanche looking to take company private
Jun 7 2016, 18:42 ET | About: LendingClub... (LC) | By: Eric Jhonsa, SA Eye on Tech, SA News Editor [Contact this editor with comments or a news tip]

Reuters reports Renaud Laplanche, who last month stepped down as LendingClub's (NYSE:LC) CEO due to the circumstances surrounding a loan sale, is talking to P-E firms and banks about financing a takeover of the company.

Shares are up 5.5% after hours to $4.63. They fell 7.4% in regular trading amid news LendingClub had postponed its annual meeting and #2 shareholder Baillie Gifford had liquidated its stake.

jz451

To be fair it is probably a better move to take the company private than keep it as a public company. The IPO was essentially a cash grab and now it would make strategic sense if Lending Club remained private for a while until they can maintain a higher level of loan buying  from institutional investors and significantly increase the pool of retail investors.

GS

I liked the company private, too.  But damn, sell the company at 15  a share and buy it back for about 5 a share.  What a screw job for investors who held on to the thier IPO shares.


P2PFact

I hope he didn't pull it off. Usually PE buy out comes with leverage by issuing new debt. Those deb will certainly be more senior to retail note holders.

bobeubanks

<Snarky comment>

Does RL think fraud is OK in a private company?

</Snarky comment>

I'm thinking going private, esp. if RL is involved, makes the pending shareholder lawsuits stronger in front of a jury.

TravelingPennies

This hasn't even happened yet. And if a party were to buy it out, it would likely be done in cash like if I were to buy a sports team.

https://forum.lendacademy.com/index.php?topic=3905.msg35738#msg88888888Quote"> from: P2PFact on June 07, 2016, 11:02:17 PM

jheizer


mchu168

Putting the guy who was lax on compliance back in charge of this business would be a big mistake.  Isn't this obvious?  https://forum.lendacademy.com/Smileys/default/undecided.gif" alt=":-" title="Undecided" class="smiley" />






Peter

Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

NEW LOANS:   | 870.eth 2.500 Ξ | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | ALL