SEC Comment Letter for USA TODAY Co., Inc. (TDAY) (CIK 0001579684) (TDAY) — Feb 26, 2014
USA TODAY Co., Inc. (TDAY) (CIK 0001579684)
Date: Feb. 26, 2014 · CIK: 0001579684 · Accession: 0000000000-14-009701
AI Filing Summary & Sentiment
File numbers found in text: 333-193887
Show Raw Text
February 26, 2014 Via E -mail Michael E . Reed Chief Executive Officer New Media Investment Group Inc. 1345 Avenue of the Americas New York, NY 10105 Re: New Media Investment Group Inc. Registration Statement on Form S-1 Filed February 12, 201 4 File No. 333-193887 Dear Mr. Reed : We have limited our review of your registration statement to those issues we have addressed in our 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 . Where you do not believe our comments apply to your facts and circumstances or do not 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. General 1. We note that you have not disclosed the names of the underwriters. Please include this information in an amendment or explain why you cannot do so. Based on the facts and circumstances in your response, we may defer further review of this filing until such information can be disclosed . Use of Proceeds, page 36 2. Please revise to disclose in greater detail the principal purposes for which the net proceeds are intended to be used and the approximate amount intended to be used for each such purpose. For example, we note your disclosure that you anticipate using the net proceeds for “general corporate purposes , which may include, but is not limited to, potential investments and acquisitions .” Please provide additional detail about what you expect general corporate purposes to include or expla in why you cannot do so . Please Michael E . Reed New Media Investment Group Inc. February 26, 2014 Page 2 also disclose wh ether you have identified any potential investments or acquisitions. If any net proc eeds will, or may, be used to finance acquisitions of other businesses provide the information required by Item 504 of Regulation S -K and Instruction 6 thereto. Exhibits 3. Please file the legality opinion prior to effectiveness. Please allow sufficient tim e for staff review as we may have comments upon review of the opinion. We urge all persons 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 1933 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. Notwithstanding our comments, in the event you request acceleration of the effective date of the pending registration 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 effectiv e, does not relieve the company from its full responsibility for the adequacy and accuracy of the disclosure 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 stateme nt as confirmation of the fact that those requesting acceleration are aware of their respective responsibilities under the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities speci fied in the above registration statement. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement. Michael E . Reed New Media Investment Group Inc. February 26, 2014 Page 3 Please contact Ada D. Sarmento at (202) 551 -3798 or me at (202) 551 -3469 with any questions. Sincerely, /s/ Justin Dobbie Justin Dobbie Legal Branch Chief cc: Via E -mail Duane McLaughlin , Esq.