Current Price – $6.96
Offer Price – $7.5
Upside – $53 or 8%
Expiration date – TBD
There is no info yet whether there will be odd lot provisions, but previous GSOL tenders in (2010 and 2014) had odd lot provisions.
Global Sources Ltd. (NASDAQ: GSOL) intends to commence an issuer tender offer by the end of June 2015, with expected completion before the end of July 2015, for up to 6,666,666 shares, or approximately 22.05% of its outstanding common shares as of April 30, 2015, at a purchase price of $7.50 per share in cash. Global Sources expects to fund the tender offer with cash on hand. As of March 31, 2015, Global Sources had total cash, cash equivalents and available-for-sale securities of approximately $103.6 million.