<SEC-DOCUMENT>0001193125-21-177021.txt : 20210721
<SEC-HEADER>0001193125-21-177021.hdr.sgml : 20210721
<ACCEPTANCE-DATETIME>20210528162534
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-21-177021
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST ADVANTAGE CORP
		CENTRAL INDEX KEY:			0001210677
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				611437565
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1 CONCOURSE PARKWAY NE, SUITE 200
		STREET 2:		ATTN: BRET T. JARDINE, ESQ.
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30328
		BUSINESS PHONE:		888-314-9761

	MAIL ADDRESS:	
		STREET 1:		1 CONCOURSE PARKWAY NE, SUITE 200
		STREET 2:		ATTN: BRET T. JARDINE, ESQ.
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30328
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<TYPE>CORRESP
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Simpson Thacher&nbsp;&amp; Bartlett <SMALL>LLP</SMALL> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">425 <SMALL>LEXINGTON</SMALL> <SMALL>AVENUE</SMALL> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>NEW</SMALL> <SMALL>YORK</SMALL>, <SMALL>NY</SMALL> 10017-3954 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>TELEPHONE</SMALL>:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">+1-212-455-2000</FONT></FONT></FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><SMALL>FACSIMILE</SMALL>:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">+1-212-455-2502</FONT></FONT></FONT> </P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">D<SMALL>IRECT</SMALL> D<SMALL>IAL</SMALL> N<SMALL>UMBER</SMALL></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><FONT STYLE="white-space:nowrap">E-</FONT><SMALL>MAIL</SMALL> A<SMALL>DDRESS</SMALL></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">455-3352</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right">kwallach@stblaw.com</TD></TR>
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<TD VALIGN="top">(212) <FONT STYLE="white-space:nowrap">455-7862</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="right">hui.lin@stblaw.com</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:56%; font-size:10pt; font-family:Times New Roman" ALIGN="center">May&nbsp;28, 2021 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Re:&nbsp;&nbsp;&nbsp;&nbsp;FIRST ADVANTAGE CORP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Amendment No.&nbsp;1 to </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Submitted May&nbsp;7, 2021 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">CIK No.&nbsp;0001210677 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mara
Ransom </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taylor Beech </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington D.C. 20549 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of First Advantage Corporation (the &#147;<U>Registrant</U>&#148;), we hereby transmit via EDGAR for filing with the Securities and
Exchange Commission (the &#147;Commission&#148;) a registration statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (the &#147;Registration Statement&#148;) relating to the offering of shares of its common stock, which amends the
above-referenced Amendment No.&nbsp;1 to the Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (the &#147;Draft Registration Statement&#148;) confidentially submitted to the staff of the Division of Corporation Finance
of the Commission (the &#147;Staff&#148;) on May&nbsp;7, 2021. The Registration Statement has been revised to reflect that it has been filed rather than confidentially submitted, to reflect changes in response to the Staff&#146;s comment letter,
dated May&nbsp;18, 2021 (the &#147;<U>Comment Letter</U>&#148;), relating to the Draft Registration Statement, and to reflect certain other changes. In addition, the Registrant has filed certain exhibits with the Registration Statement and advises
the Staff that it will file any remaining required exhibits in one or more future <FONT STYLE="white-space:nowrap">pre-effective</FONT> amendments. The Registrant understands that the Staff requires a reasonable amount of time for review. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, we are providing the following responses to the Comment Letter. To assist your review, we have retyped the text of the
Staff&#146;s comments in italics below. Page references in the text of this letter correspond to the pages of the Registration Statement. Unless otherwise </P>
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<TD VALIGN="top">Securities and Exchange Commission</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">May 28, 2021</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
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defined below, terms defined in the Registration Statement and used below shall have the meanings given to them in the Registration Statement. The responses and information described below are
based upon information provided to us by the Registrant. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Amendment No.&nbsp;1 to Draft Registration Statement on Form
<FONT STYLE="white-space:nowrap">S-1</FONT> </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Risk Factors, page 19 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your revised disclosure on page 117 regarding the multiple FTC consent decrees to which you remain
subject and that failure to comply with the decrees and/or relevant law or regulations may subject you to increased risk. Please add related risk factor where applicable. </I></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Registrant has revised the disclosure on page 20 in response to the Staff&#146;s comment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Certain Relationships and Related Party Transactions, page 143 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that you are party to a Services Agreement with your Sponsor that you intend to amend in connection
with this offering. Please quantify the fee payable to your Sponsor under the agreement and ensure that the amended agreement is filed. Refer to Item 601(b)(10) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> Alternatively, please tell us
why you are not required to do so. </I></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Registrant respectfully advises the Staff that there is no
<FONT STYLE="white-space:nowrap">pre-determined</FONT> or fixed fee payable under the Services Agreement, which provides for certain services to be provided by our Sponsor to us from time to time as mutually agreed between us and our Sponsor. As
disclosed on page 144 of the Registration Statement, since the agreement was entered into on January&nbsp;31, 2020, we have reimbursed our Sponsor for expenses only, totaling $57,000, and have not paid any other amounts under the agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Registrant respectfully submits that the Services Agreement is immaterial in both amount and significance. As part of the Sponsor&#146;s partnership with
the Registrant, the Sponsor has provided a multitude of services, including advising management on matters such as corporate strategy, capital markets execution, acquisitions, product and technology strategy, customer acquisition, and talent
recruiting. However, to date, the only compensation for services provided under the Services Agreement have been certain of the Sponsor&#146;s internal compensation costs based on time spent by members of the Sponsor&#146;s operating team on certain
matters relating to the Registrant (which we believe are consistent with what would be incurred by the Registrant in an arm&#146;s length transaction for similar overall services), pass-through research costs for due diligence conducted in
connection with acquisition and investment activities, and board meeting travel. While these compensated services have been beneficial to the Registrant as a whole, they are not material or significant to the Registrant&#146;s business or
operations. The Registrant does not expect to receive any services under such agreement for the foreseeable future, other than support similar to what had previously been provided in the past, and does not expect to make any payments to its Sponsor
other than the reimbursement of reasonable and documented expenses. On that basis, the Registrant respectfully submits that the Services Agreement is not a material contract that is required to be filed under Item 601(b)(10) of Regulation <FONT
STYLE="white-space:nowrap">S-K.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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<TD VALIGN="top" ALIGN="right">May 28, 2021</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Please do not hesitate to contact Kenneth B. Wallach at (212)
<FONT STYLE="white-space:nowrap">455-3352</FONT> or Hui Lin at (212) <FONT STYLE="white-space:nowrap">455-7862</FONT> if you wish to discuss our responses to the Comment Letter. </P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">/s/ Kenneth B. Wallach</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Kenneth B. Wallach</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">/s/ Hui Lin</P></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Hui Lin</P></TD></TR>
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<TD VALIGN="bottom">cc:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Securities and Exchange Commission</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lyn Shenk</TD></TR>
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<TD VALIGN="bottom" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mara Ransom</TD></TR>
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<TD VALIGN="bottom" NOWRAP>First Advantage Corporation</TD></TR>
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<TD VALIGN="bottom" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scott Staples</TD></TR>
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<TD VALIGN="bottom" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bret T. Jardine</TD></TR>
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