Prosper’s Kentucky Adventure

On June 20, 2008 (note the date), The Commonwealth of Kentucky (via the Office of Financial Institutions) issued a document of some interest to Prosper-Watchers.

In brief, the document states:

– On October 30, 2007 (again, note the date), Prosper filed a Form S-1 Registration Statement with the SEC, seeking to register securities.

– On May 28, 2008, the Executive Director of the Office of Financial Institutions entered a “Stop Order,” suspending the effectiveness of the registration statement submitted to the Division on November 7, 2007 on the basis of certain enumerated deficiencies and failure to supply certain requested information.

– Subsequent to the filing of the Application, the Division was informed that the SEC had determined to take no action on Prosper’s federal S-1 filing, and so accordingly, a registration in Kentucky could not be acomplished.

– Prosper then requested permission to withdraw its Form U-1 Application Kentucky – to which the state had no objection.

The full document can be accessed here.