Any of you guys invested in the IPO of a company? Curious how you analyzed it and interpreated the prospectus, since there seems to me to be a lot of speculation on IPOs.
LendingClub is going public and I potentially can recieve a share allotment up to 350/shares. I’ve never had the opportunity to participate in an IPO, so it’s been interesting. The one big difference with LC versus other companies I review is that they’ve been filing with the SEC for years, so I’ve been following their financials for a while.
He would’ve got a DSP email from Fidelity at his email for LC. I think at this point, it’s too late but he can check. You had to express interest in the email and then you opened a DSP account with Fidelity. I read someone else’s email went to spam and they didn’t notice until the deadline had passed, so probably the same is true for your friend.
I didn’t do the full allotment, which was 350. People who tried to get 350 only got 250. And no restrictions, when I read it was opening 24-25 I immediately put a trailing stop loss on 50% of my shares. They sold shortly after. The remaining 50% is essentially free and I’ll stick around to see what happens over the next couple weeks. For me, it was an interesting process never being involved with an IPO. Some of the others on the LC Forum I frequent are routine IPO purchasers – a few of them got regular allotment IPO amount around 1,000 in addition to their 250. But for them, if they sell within the first 180 (I think?) days, they may be restricted from participating in upcoming IPOs. That’s the only lock up I’m aware of