<SEC-DOCUMENT>0001104659-21-117898.txt : 20211122
<SEC-HEADER>0001104659-21-117898.hdr.sgml : 20211122
<ACCEPTANCE-DATETIME>20210921162750
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-21-117898
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210921

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Loyalty Ventures Inc.
		CENTRAL INDEX KEY:			0001870997
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				871353472
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		7500 DALLAS PARKWAY
		STREET 2:		SUITE 700
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024
		BUSINESS PHONE:		(972) 338-5170

	MAIL ADDRESS:	
		STREET 1:		7500 DALLAS PARKWAY
		STREET 2:		SUITE 700
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="padding-bottom: 0.05in; font-size: 10pt; width: 20%"><IMG SRC="tm2122068d9_correspimg001.jpg" ALT=""></TD>
<TD STYLE="font-size: 10pt; padding-bottom: 0.05in; width: 24%">John B. Meade<BR>
 +1 212 450 4077 john.meade@davispolk.com davispolk.com</TD>
<TD STYLE="font-size: 10pt; padding-bottom: 0.05in; width: 25%">Davis Polk &amp; Wardwell LLP <BR>
450 Lexington Avenue<BR> New York, NY 10017 &nbsp;</TD>
<TD STYLE="padding-bottom: 0.05in; text-align: right; font-size: 10pt; text-transform: uppercase; width: 31%">Confidential</TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="2" STYLE="padding-bottom: 10pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 21, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-bottom: 13pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 97%; padding-bottom: 13pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loyalty Ventures Inc.<BR>
Registration Statement on Form 10-12B<BR>
Filed September 1, 2021<BR>
CIK No. 0001870997</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 13pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 13pt; text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONFIDENTIAL</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade &amp; Services<BR>
100 F Street, N.E.<BR>
Washington, DC 20549-3628</P>

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  <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 6%">Attn:</TD>
  <TD STYLE="padding-left: 10pt; text-indent: -10pt">Donald Field</TD></TR>

<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
  <TD STYLE="padding-left: 10pt; text-indent: -10pt">Jennifer L&oacute;pez</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Field and Ms. L&oacute;pez:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">On behalf
of our client, Loyalty Ventures Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), this letter sets forth the Company&rsquo;s
response to the comment provided by the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Division of Corporation Finance of the U.S. Securities
and Exchange Commission relating to the Company&rsquo;s Registration Statement on Form 10-12B (the &ldquo;<B>Registration Statement</B>&rdquo;)
contained in the Staff&rsquo;s letter dated September 13, 2021 (the &ldquo;<B>Comment Letter</B>&rdquo;). In response to the comment set
forth in the Comment Letter, the Company has revised the Registration Statement and is filing an Amendment No. 1 to the Registration Statement
on Form 10-12B (&ldquo;<B>Amendment No. 1</B>&rdquo;)</FONT> together with this response letter. Amendment No. 1 also contains certain
additional updates and revisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the convenience of the Staff, the comment from the Comment Letter
is restated in italics prior to the response to the comment. All references to page numbers and captions (other than those in the Staff&rsquo;s
comment) correspond to pages and captions in Amendment No. 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Registration Statement on Form 10-12B Filed September 1, 2021</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Preliminary Information Statement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Our amended and restated bylaws will designate Delaware as the exclusive
forum for certain litigation, page 37</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD><I>We note your response to comment 5 and reissue in part. We note that this risk factor references a Federal Forum Provision which
is contained in your amended and restated articles of incorporation. We also note, however, that Exhibit 3.1 does not contain a Federal
Exclusive Forum Provision for Securities Act claims. Please reconcile your disclosure and Exhibit 3.1, as applicable.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Response:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>In
response to the Staff&rsquo;s comment, the Company has revised the disclosure on pages 37 to 38 and 114 of Amendment No. 1. The Company
is also refiling revised Exhibits 3.1 and 3.2 to reflect the Federal Forum Provision in our amended and restated certificate of incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">***</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="tm2122068d9_correspimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please do not hesitate to contact me at (212) 450-4077 or john.meade@davispolk.com
if you have any questions regarding the foregoing or if we can provide additional information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">Very truly yours, &nbsp;</TD>
<TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">/s/ John B. Meade</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">John B. Meade</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cynthia L. Hageman, General Counsel of the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Laura Santillan, Chief Accounting Officer of the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Louis L. Goldberg, Davis Polk &amp; Wardwell LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="padding-top: 1pt; border-top: Black 1pt solid; width: 50%; padding-right: 2pt">September 21, 2021</TD>
<TD STYLE="padding-top: 1pt; border-top: Black 1pt solid; text-align: right; width: 50%; padding-right: 2pt">2</TD></TR>
</TABLE>


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