MacroShares Major Metro Housing
MacroShares Housing Depositor, a subsidiary of MacroMarkets LLC, has filed with the Securities and Exchange Commission for exchange-traded securities that will allow investors to invest in the upward or the inverse movement of U.S. home prices. Investors in Major Metro Housing MacroShares may to choose to invest in the Major Metro Housing Up Trust or the Major Metro Housing Down Trust. Funds raised from the sale of Major Metro Housing MacroShares are invested in short-term Treasury Bills, overnight repurchase agreements secured by Treasuries and cash. The underlying value of these MacroShares changes according to three times the movement, in percent terms, of the S&P/Case-Shiller Composite-10 Home Price Index. When the index level increases, the underlying value of Major Metro Housing Up MacroShares increases, with a corresponding decrease in the underlying value of Major Metro Housing Down MacroShares.
Auction Timeline
MacroSharesTM and OpenCrossTM are trademarks of MacroMarkets LLC and WR Hambrecht + Co, respectively.
PLEASE NOTE: WR Hambrecht + Co urges you to read a company’s prospectus thoroughly before participating in any offering. To receive a prospectus for this company, click on the link above, call 1-800-673-6476, fax 1-610-725-1167, or write to: WR Hambrecht + Co, P.O. Box 677, Berwyn, PA 19312-0677.
Going public is a process that is highly regulated by the Securities and Exchange Commission and self-regulatory organizations. There are a number of regulatory steps that affect the length and closing date of an initial pubic offering. These are not controlled by WR Hambrecht + Co or the company going public.
An initial pubic offering auction is typically open for bids from one to two weeks. However, the auction will close in as little as an hour after the Securities and Exchange Commission declares the registration statement effective. We usually know about 48 hours before this is going to happen. Everyone who has bid on the offering will be notified at this time.
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In most cases, you will not need to reconfirm your bid, either before or after the registration statement is declared effective. You will have the ability to withdraw your bid at any time until the notice of acceptance is sent after the auction closes. After the auction closes and the public offering price has been determined, bidders who submitted successful bids will receive a notice of acceptance and will be obligated to purchase the shares allocated to them. However, if any of the following events occur, we will require that bidders reconfirm the bids they have submitted in the offering: (1) more than 15 business days have elapsed since the bidder submitted his bid in the offering, (2) there is a material change in the disclosure that was previously provided to the bidder. |
