Aus,
There is no "usual" time. In this case, the offering was being held up by the description of the trust, it didn't, in the opinion of the SEC, conform to "plain English" requirements (i.e., non-lawyers should in principle be able to understand whatever is in a prospectus). This cost Sandisk plenty, at least time and interest, and perhaps millions of dollars if they don't get the secondary off above 80, which is where I believe it would have gone before the earthquake. It may still get there since the earthquake looks like a transient thing so far, with only short term impact. I think there is at least a chance to get back there after the CC, depending on EH & Co. say, and depending on the general tech market at large. I'm backtracking a little from my previous predictions, I know, but as I said before, the way to be very successful with predictions is to make them often and contradictory.
Best,
Sam |
