SEC Comment Letter for BRIGHT HORIZONS FAMILY SOLUTIONS INC. (BFAM) (CIK 0001437578) (BFAM) — Nov 6, 2012
BRIGHT HORIZONS FAMILY SOLUTIONS INC. (BFAM) (CIK 0001437578)
Date: Nov. 6, 2012 · CIK: 0001437578 · Accession: 0000000000-12-060804
AI Filing Summary & Sentiment
Show Raw Text
November 6, 2012 Via E -mail Mr. David Lissy Chief Executive Officer Bright Horizons Family Solutions Inc. 200 Talcott Avenue South Watertown, Massachusetts 02472 Re: Bright Horizons Family Solutions Inc. Registration Statement on Form S -1 Filed October 24, 2012 File No. 333 -184579 Dear Mr. Lissy : We have reviewed your registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information . If you do not believe our comments apply to your facts and circumstances or do no t believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Risk Factors, pag e 14 1. We note that Article XI of your form of second restated certificate of incorporation attempts to restrict the forum in which certain actions may be brought by investors . Please add risk factor disclosure addressing the issue of enforceability of such exclusive forum provisions and the potential effect of such restrictions on investors . Please also add disclosure regarding th ese restrictions under Description of Capital Stock, starting on page 108. We urge all per sons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Act of 193 3 and all applicable Securities Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. David Lissy Bright Horizons Family Solutions Inc. November 6 , 2012 Page 2 Notwithstanding our comments, in the event you request acceleration of the effective date of the pen ding regist ration statement please provide a written statement from the company acknowledging that: should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from taking any action with respect to the filing; the action of the Commission or the staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the company from its full responsibility for the adequacy and accuracy of the di sclosure in the filing; and the company may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please refer to Rules 460 and 461 regarding requests for acceleration . We will consider a written request for acceleration of the effective date of the registration statement as confirmation of the fact that those requesting acceleration are aware of their respective res ponsibilities under the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities specified in the above registration statement. Please allow adequate time for us to review any amendmen t prior to the requested effective date of the registration statement. You may contact Blaise Rhodes at (202) 551 -3774 or Raj Rajan at (202) 551 -3388 if you have questions regarding comments on the financial statements and related matters. Please contact Shaz Niazi at (202) 551 -3121 or Brigitte Lippmann at (202) 551 -3713 with any other questions. Sincerely, /s/ Brigitte Lippmann (for) John Reynolds Assistant Director cc: Craig E. Marcus, Esq. Ropes & Gray LLP