Monthly Archives: August 2015



Hennessy Advisors (HNNA) – Odd Lot Tender – $43 guaranteed return

Current Price – $24.57;

Offer Price – $25;

Upside – 2% or $43 (for odd lot holders);

Expiration date –  18 Sep 2015;

SEC Filling

Summary:

Hennessy Advisors, Inc., a California corporation, invites its shareholders to tender up to $25.0 million in aggregate value of its Common Stock, no par value per share, for purchase by Hennessy Advisors, Inc., at a price of $25.00 per Share, net to the seller in cash. As of August 19, 2015, the Company had 6,025,381 Shares



St. Joe (JOE) – Odd Lot Tender Offer – $110 guaranteed return

Current Price – $16.89;

Offer Price – $18;

Upside – 6.5% or $110 (for odd lot holders);

Expiration date –  22 Sep 2015;

SEC Filling

Summary:

The St. Joe Company is offering to purchase up to 16,666,666 shares of its common stock, no par value, at a price of $18.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in this Offer to Purchase



Condor Hospitality Trust (CDOR) – Offer to Exchange – 8% upside (Cancelled)

Company is offering to exchange each Series A Preferred Stock (Ticker CDORP) for 5.38 shares of common stock (Ticker CDOR). There is similar exchange with Series B Preferred stock, but currently there is no upside on it.

Current Price CDORP – $8;

Current Price CDOR – $1.61;

Value of CDORP if exchanged for 5.38 CDOR shares – $8.66;

Upside – 8%;

No proration – all shares submitted for exchange will be accepted (subject to conditions described below);

Expiration date –  TBD



Motorola Solutions (MSI) – Odd Lot Tender Offer – $230 potential return

Current Price – $64.19

Offer Price – $61 – $66.5

Upside – $230 or 3.6% (if the upper pricing limit is used)

Expiration date –  3 September 2015

No proration for odd lot holders

SEC Filling

Summary:

Motorola Solutions, Inc., a Delaware corporation, hereby offers to purchase for cash up to $2.0 billion of shares of its issued and outstanding common stock, par value $0.01 per share (the “shares”), at a price not less than $61.00 and not more than

 

Nam Tai Property – Odd Lot Tender – $25 guaranteed return

Current Price – $5.25;

Offer Price – $5.5;

Upside – 5% or $25 (for odd lot holders);

Expiration date –  4 Sep 2015;

SEC Filling

Summary:

Nam Tai Property Inc., a British Virgin Islands corporation (the “Company”), is offering to purchase up to 15,000,000 shares of the Company’s common stock, par value $0.01 per share (the “Company Common Stock”) at a price of $5.50 per share, net to the seller in cash. e are offering to purchase up to 15,000,000 shares of