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Stock Sale Still About Two Weeks Away

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Stock Sale Still About Two Weeks Away

A report from Bloomberg back on Nov. 8 indicated the Packers were planning to start sell their unique shares of stock in the team "on or around Nov. 15."

Nov. 15 has come and gone, and it appears the stock sale is still said to be about two more weeks away.

According to post yesterday on the Packers Partners message board, part of the official fan club of the Green Bay Packers, Jade Scheigg––an employee of the Packers as a marketing assistant––wrote, "At this time, the organization is still putting together all the aspects of the offering and are not yet in a position to discuss the details. We expect to have those details available within the next two weeks."

The Bloomberg report indicated the Packers were attempting to get the Department of Commerce's Division of Securities to waive its requirements for the Packers to sell stock in the state of Utah.

Whether that or other obstacles continue to be a stumbling block is up for speculation.

I would have guessed the Packers would have the stock sale in place before Black Friday when many families begin their holiday shopping and run through a good chunk of their discretionary spending in what continues to be rough worldwide economy. Granted, it's still possible they still may have it in place by then.

Could stock sales be affected if the Packers still aren't ready to offer shares for sale by Black Friday? For an organization that's hoping to raise tens of millions of dollars to go toward the expansion of Lambeau Field, it's a question worth asking.

A screen capture of the message board post is below, in which also of note is, "Due to SEC regulations, there will not be a presale or discounts available."

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Fan friendly comments only: off Comments (3) This filter will hide comments which have ratio of 5 to 1 down-vote to up-vote.

Majik Man's picture

Can someone break this down for me like I'm a six-year old? Especially the Utah thing?

SpiderPack's picture

Well the Utah thing is just to make sure the stock is available to all interested parties. There are probably other similar roadblocks in other states or countries or populations of people. The rest of it just means they don't know exactly what to charge and what the specifics are to legally process the sale. Im assuming Brian and the guys are sharing their insider shareholder info.

FITZCORE1252's picture

I get they need to make this available to everyone... but what's the significance of the state of Utah?

Really, wtf is the deal with Utah?

Please, knowledgeable responses only. Thank you and good day.

GBP 4 LIFE

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