Overview
Title
Surrender of License of Small Business Investment Company; Stonehenge Opportunity Fund III-B, L.P., License No. 05/05-0296
Agencies
ELI5 AI
The people in charge decided that a company called Stonehenge Opportunity Fund III-B, L.P. isn't allowed to help small businesses anymore. They took away its special permission slip, so now the company can't keep doing that job.
Summary AI
The United States Small Business Administration has revoked the license of the Stonehenge Opportunity Fund III-B, L.P. as a small business investment company. This action was taken under the authority of Section 309 of the Small Business Investment Act of 1958 and 13 CFR 107.1900. As a result, the license held by Stonehenge Opportunity Fund III-B, L.P. is now null and void. The decision was announced by Thomas Morris, Director of Patient Capital Investments.
Keywords AI
Sources
AnalysisAI
This document serves as an official notice from the United States Small Business Administration (SBA), stating that the license of the Stonehenge Opportunity Fund III-B, L.P. to operate as a small business investment company (SBIC) has been revoked. This action is carried out under the authority provided by Section 309 of the Small Business Investment Act of 1958 and the relevant Code of Federal Regulations, specifically 13 CFR 107.1900.
Summary of the Document
The document highlights the authority of the SBA to declare the license, numbered 05/05-0297, held by Stonehenge Opportunity Fund III-B, L.P. as null and void. It is a formal procedural announcement that effectively halts the operations of this particular investment company under the SBIC program. The decision to revoke the license is endorsed by Thomas Morris, Director of Patient Capital Investments.
Significant Issues or Concerns
A notable issue in this document is the discrepancy in the license number. The metadata refers to the license number as 05/05-0296, while the text states it as 05/05-0297. This inconsistency could lead to confusion regarding which specific license has been revoked. Moreover, the abstract within the metadata is marked as null, missing a concise summary that could provide readers with a quick understanding of the document’s purpose and content.
The document lacks detailed reasoning or an explanation for why the license was revoked, which could hamper transparency. Providing context about the decision or the underlying reasons for the revocation could enhance understanding and accountability.
Potential Impact on the Public
For the general public, this document might seem procedural and not directly impactful. However, the revocation of a license for a small business investment company can have broader implications. SBICs play a critical role in supporting small businesses by providing them with necessary capital. With one fewer active SBIC, there might be a marginal reduction in available investment opportunities for small businesses.
Impact on Specific Stakeholders
For specific stakeholders, such as the investors and the management team associated with Stonehenge Opportunity Fund III-B, L.P., this decision can have significant ramifications. It may affect their investment activities, requiring them to adjust their strategies and find alternative means to invest in or support small businesses. Additionally, small businesses that were relying on potential funding from this investment company may need to seek other avenues for financial support.
In conclusion, while the document primarily serves as a formal announcement of a regulatory action, resolving the typographical discrepancies and providing more comprehensive background information could improve its clarity and impact assessment. The revocation reflects a regulatory mechanism for maintaining compliance and accountability within the framework of SBICs, aiming to ensure that these entities align with established standards and practices.
Issues
• The document number in the metadata (2025-05263) is mentioned as 05/05-0296 whereas in the text it refers to license number 05/05-0297, indicating a possible typographical error or discrepancy in the license number.
• The abstract is null, providing no summary of the document's contents, which would be helpful for understanding the overall context and purpose.
• The language used is relatively clear but does not offer detailed explanation or context about the implications of declaring a license null and void. Additional information on the reasons for this decision might be beneficial.
• The document does not elaborate on the consequences or the follow-up steps for Stonehenge Opportunity Fund III-B, L.P., leaving the impact of this action unclear.
• There is a lack of detailed context or explanation about the reason for the surrender of the license, which is critical for transparency and understanding of the process.