Underbanked

finance a la shmoop what is a red herring?

hi I'm red, red-err-ing.. red herring I'm here to tell you about my role in high [Red herring swimming in the ocean]

finance I'm actually the co-star of an IPO, how so you asked well yes of

course you asked..what's that, what's my primary job well my primary job is to

distract that's kind of why I was put on earth here to distract people, fish and [Man on a ship]

birds from you know other things that's what the red in red herrings do and no

we're not communists although we all do like the same brand of plankton but

that's me the fish me the IPO mascot that's a lot more fun...

I'm the namesake of an investment marketing document I'm the papers that

get filed with the SEC that outline the details of a new offering an IPO....

A secondary placement of founder shares after a company has already been public

a while as well I'm also there for a bond offering, a proposed merger all of [List of what red herrings are used for]

them need me so why do I exist.... while the goal here is to give investors

time to really get to know the issue they may want to invest in I don't carry

all the details not specific pricing, no legally binding asks and just an outline

of what's being proposed but I'm like 98% done and by not being fully done

it's easy to amend and tweak and change this and that so that the really uptight [Red herring talking]

fisherman at the SEC don't get all hacked off if they you know end up

reeling something in that well they didn't want [Fisherman catches a shark]