Great Elm Capital Corp (GECC) – Odd Lot Tender Offer – 8.5% upside
Current Price –$11.2
Offer Price – $11.5 – $12.17
Upside – 8.5%
Expiration Date – 3rd of May, 2017 (expected)
Tag Archives: share repurchase
Actua (ACTA) – Odd Lot Tender Offer – 7% potential upside
Current Price – $13.10
Offer Price – $12 – $14
Upside – 7% or $90 (if upper pricing limit is used)
Expiration date – TBD (likely around 7th of December)
Silgan Holdings (SLGN) – Odd lot Tender Offer – 3% upside
Current Price – $50.8
Offer Price – $45.5 – $52.25
Upside – 3% or $170 (if upper pricing limit is used)
Expiration date – 15 November 2016 (Q3 results on the 26th of October)
First Financial Northwest (FFNW) – Odd Lot Tender Offer – minimal upside currently
Current Price – $13.85;
Offer Price – $13 – $14;
Upside – potentially 1% or $13 (if the upper pricing limit is used);
Expiration date – 9 August 2016;
GAIAM (GAIA) – Odd Lot Tender Offer – $12 gain
Current Price – $7.55
Offer Price – $7.75
Upside – $12 or 1.5%
Expiration date – 27 June 2016
Techtarget (TTGT) – Odd Lot Tender Offer – no upside currently
Current Price – $7.87
Offer Price – $7.75
Upside – N/A
Expiration date – 8 June 2016
Asta Funding (ASFI) – Odd Lot Tender Offer – minimal upside currently
Current Price – $10.01
Offer Price – $9.5 – $10.25
Upside – potentially 2.5% or $24 (if the upper pricing limit is used)
Expiration date – 12 May 2016
Trinseo (TSE) – Odd Lot Tender Offer – no upside currently
Current Price – $36.29
Offer Price – $35.63
Upside –no upside currently
Expiration date – 25 April 2016
Planet Payment (PLPM) – Odd Lot Tender Offer – minimal upside currently
Current Price – $3,43
Offer Price – $3,2- $3,6
Upside – potentially 5% or $17 (if the upper pricing limit is used)
Expiration date – 11 April 2016
CRA International (CRAI) – Odd Lot Tender Offer – 5% potential upside
Current Price – $18.88
Offer Price – $18.00- $19.75
Upside – potentially 5% or $90 (if the upper pricing limit is used)
Expiration date – 21 March 2016
No proration for odd lot holders
Summary:
We are conducting the tender offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price per share (in increments of $0.25) within a price range specified by us at which you are willing to sell your
Update on SNOW and SPIL
A quick update on couple transaction posted on www.specialsituationinvestments.com
SNOW – currently trades at $8.28 vs lower buyout limit of $9. Tender Offer closes in a week.
SPIL – provided update regarding regulatory approval as well as extension of offer till March 17th (here). Response from the regulator was: “With respect to the filing of the merger of enterprises between Advanced Semiconductor Engineering, Inc. and Siliconware Precision Industry Co., Ltd., the Fair Trade
Intrawest Resorts Holdings (SNOW) – Odd Lot Tender Offer – Risk Free upside of 13%
Current Price – $8.77
Offer Price – $9 – $10
Upside – potentially 13% or $120 (if the upper pricing limit is used), otherwise guaranteed return of 2% (if lower pricing limit is used)
Expiration date – 10 February 2016
No proration for odd lot holders
Some thoughts: The price shop up 30% upon tender announcement although only 12% of shares will be purchased. Therefore I would expect price still to decline today or during the next few days, so intiating position
New Senior Investment (SNR) – Dutch Tender with Odd Lot provision – no upside currently
Current Price – $10.11
Offer Price – $9 – $10
Upside – no upside currently
Expiration date – 19 January 2016
Summary:
New Senior Investment Group Inc is offering to purchase for cash up to $30,000,000 of shares of its common stock, par value $0.01 per share, pursuant to auction tenders at prices specified by the tendering stockholders of not greater than $10.00 per Share nor less than $9.00 per Share. At the maximum purchase price of $10.00 per
Fly Leasing (FLY) – Odd Lot Tender Offer – 5.5% potential upside
As expected Fly Leasing announced Tender Offer details today. Those who purchased upon the yesterday’s recommendation already made a decent profit.
Current Price – $13.51;
Offer Price – $12.7 – $14.25;
Upside – $70 or 5.5% (if the upper pricing limit is used);
Expiration date – 16 December 2015;
No proration for odd lot holders;
Summary:
Fly Leasing Limited, a Bermuda exempted company, invites our shareholders to tender our common shares, $0.001 par value per share, held by them
MAM Software (MAMS) – Odd Lot Tender Offer – $50 or 7% gain
Current Price – $7;
Offer Price – $7.5;
Upside – 7% or $50 (for odd lot holders);
Expiration date – 1 Dec 2015;
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