Thursday, April 24, 2008

LendingClub - their February SEC filing

Some bloggers (I don't have links to hand right now) speculated that LendingClub might have filed with the SEC to become exempt from loan registration. That is not the case.

Their most recent filing (in February) was a form 506 D to raise more capital. In fact, they raised close to a million dollars.

Here are copies of a few of the pages in that filing (click on the image for full-sized image in a new browser window).

So we're all still in the dark about the real issues over at LendingClub. I'm sympathetic to how hard it must be for management over there to not be able to comment on this issue.

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