June 30th was the drop dead day to file the IPO. They've been shopping the IPO for 6 months and the market said "no thanks". Anemic growth (circa 1%), one time ebita bump from massive cost cuts and the McGraw IPO flop has put a nail in this coffin. I predict Apollo will look to carve up the peices and get their money back .KKR is probably pushing for the same thing. MH? he will be gone and I bet the process has already started. NK and the rest of the pretenders? Well they will jockey for position but Apollo will bring in an outsider to carve up the corpse. All the folks who jumped on this bandwagon are, I'm sure, not as upbeat as 3 weeks ago. They jumped on a sinking ship, threw the crew overboard and now their hubris will fade away rather quickly as they look to the exits
21 replies (most recent on top)
@198 you do that…and keep praying you’re licking the right boots
@a6 uh, ok. I’m screenshotting this post so I can keep track of these “real” events that will be happening.
@a6 This hilarious....fleet elimination shows the IPO is on track! Are you available for stand up? You can't make a line like that up....no one would believe it. wow... a Kool-Aid guzzeler AND super dense. Come to think of it , the Kool-Aide drinker are pretty mentally challenged....thanks for giving me the laugh of the week anyway
@a6 still stand by the gibberish you so confidently spouted? Where’s the IPO filing? I guess youve gone quiet now… or maybe you're one of todays casualties. Either way Im sorry for you. As a poster already said….it hurts when you're sold down the river and you realise the only one management every cared about is themselves.All the decisions were short term, massaging of the balance sheet. The inevitable fallout is rearing its head and the finger pointing is about to begin. Given the IPO is a bust they will all depart anyway as they’re left with a ship holed below the waterline.
@ad i feel sorry for you. I mean that sincerely
@a6 i wonder when the penny drops for you and you stop drinking the Kool-Aid. HonestlyIi feel sorry for you as it really is brutal when you realise you bought into a lie and the people you respected and thought were being straight with you turned out to be playing their own cards. I say all this without having any sort of triumphalism . Ive walked in your shoes and it su-ks when the penny finally drops.
My Manager told me today 7/20 they have been directed not to discuss the IPO. They were told not to confirm or deny... just do not discuss it at all.
(LOL but we just discussed it) .
Advice given to me: I would suggest not bringing up the IPO in Vegas.
The Cengage IPO gas come and gone? yea okay, I believe you, only because you say so...
@ad if the ipo is going ahead… why wouldnt they discuss it? Whats your point? Do you think its actually proceeding?
There is some noise on the yahoo finance investor board that cengage has redeemed some shares for MH and it was signigicant enough Apollo had to approve. There is a formal filing somewhere that happened on June 30. It will be public but don't know how to search that as I havent a clue what the form number would be.This is significant as it begs the question: why would MH be getting big $’s for shares now if an IPO is days away? Has it failed and he is getting paid off and pushed?
Does someone on here understand this stuff or is it standard procedure? The yahoo board seemed to think this is a bad sign
@ah those PEs WANT the IPO - the problem is there is no one out there to buy it for even remotely what they need to get out of this ridiculous industry! The biggest losers are the students and professors. Garbage products.
Again, Everyone! This is nothing more than MGT trying to deflect! The IPO is happening. When we are in Vegas not a word will be mentioned.
This thread is stupid ... and so is the person who is working on their social media team trying to establish alternative facts ....
@ad your desperation speaks volumes. Dont shoot the messenger LOL
Have fun in Vegas
Great ! So on Monday will the ET team finally speak to us about it? Nope! In Vegas will they discuss it, NOPE! We know you are management. But when we all are in Vegas next week and not a word is spoke about the failed IPO , the looking IPO, the rumored IPO, ETC ETC ETC... Then Management can find another Troll to work on their social media group because you SU-K!! A few weeks ago you said there wasn't even an IPO now you have all the details. YOU WILL BE FIRED SOON!! You are terrible at your JOB
@aa it’s a dying industry. Apax bought cengage at the exact wrong time before the ‘08 crisis for almost $8B- it’s valuation is worth less than $3B today and less every year. It’s crazy Apax still has ownership after 19 years when the average for a PE to churn and burn is 5-7 years. They will never sell it for what they need it to sell for. Zero clue why Apollo came in a couple of years ago- they are also probably kicking themselves.
@a9 you really are dim and desperate arent you? its been six months since the confidential filing. when they did that filing they couldnt stop talking about it. It featured in countless briefings etc. then it went silent...were they about to file? no dimwit...the whole thing had gone off the rails....the 6 months came and went without a peep. poor you.....dreams dashed
The 135-Day "Stale" Rule
The most rigid driver of any IPO timeline is the SEC’s requirement for up-to-date financial data. Under SEC accounting rules, the audited financial statements included in a registration statement go "stale" after 135 days (roughly 4.5 months).
If a company files a confidential DRS and does not progress to a formal public filing and price the IPO within that window, its financial data becomes invalid for the offering. The company is then forced to halt the IPO process, wait to close out the next quarter, audit those new numbers, and submit an amended filing. By the time a company completes its initial confidential filing, addresses SEC comments, and prepares to go public, pushing past the six-month mark almost guarantees a costly and time-consuming financial refresh.
Deal Momentum and Market Windows
The standard timeline for taking a company public—from the initial confidential submission to the formal public S-1 and the ringing of the bell—typically takes four to six months.
June 30th Deadllne? Fake News! Going Public does not have a deadline Mo--n. They have delays, which causes them to move the timeline 1 or 2 months. Financials will be locked between August 15th and Sept, 15th. Then Public S-1 filed.
Public filing was due June 30th...... at the very least its a new cycle ahead. you really are dillusional. its over...your fantasy is over! fleet car elimination = IPO...LOL you really are dim arent you!
I didn't realize the June 30th date, but I checked and you’re right! All we have heard about for 6 months was the IPO and the cuts were necessary for that. Now what? Chat gtp predicts wholesale dismemberment
LIES LIES LIES! Come and Gone! Big attempt to once again deflect and distract. Well if you are right then we can expect Executive Team to finally discuss the IPO. They No Longer are required to not discuss it.
But when we get to Vegas it will continue to be the Elephant in the Room and it will not be discussed which signals one thing. The IPO is still happening. The Financials have not been locked yet. The last $50 payment taken out of our paycheck for the Fleet car is on 8/7. The Fleet elimination tells us they are between step 3 and 4.
Step 1 Confidential S‑1 filed
Step 2: SEC Review Round 1
Step 3: SEC Review Round 2
Step 4: Financials locked
Step 5: Public S‑1 filed
Step 6: Roadshow
Step 7: IPO day
IPO is happening!!!!! The train is almost at TOP Speed and Apollo is not stopping!