Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

[Three years - (time to issue LBHI Plan Trust shares and take the new Lehman Brothers public)] = 18 months

****Do not give me worthless paper 15 days before 12/6/2020, when I can have a little cash now! ***


S.E.C. Lets All Firms Keep Parts of I.P.O. Filings Secret
By CHAD BRAY and MATTHEW GOLDSTEIN JUNE 30, 2017


Walter J. Clayton, the chairman of the Securities and Exchange Commission, wants to make it easier for companies to go public. Credit Aaron P. Bernstein/Reuters In an attempt to revitalize the public capital markets, the nation’s top regulator of stocks is turning to stealth mode.

The Securities and Exchange Commission, in Walter J. Clayton’s first major policy move as chairman, is expanding a program that will allow all private companies to keep some details of their finances and business strategies under wraps early in the process of an initial public offering.

Currently, only smaller companies are allowed to confidentially file draft registration statements for review by the agency before offerings. Some well-known companies, like Snap, Twitter and the burger chain Shake Shack have been able to do so, but the threshold of annual gross revenue of $1 billion has barred others.

Beginning July 10, all companies will have access to that program, which originated in the 2012 JOBS Act, the commission said late Thursday. The companies would be required to file their paperwork publicly at least 15 days before any “road show” to meet with potential investors, the commission said.

https://www.nytimes.com/2017/06/30/business/dealbook/sec-to-let-all-companies-file-ipo-documents-secretly.html