Tag Archives: share repurchase


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

SEC Filling


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

SEC Filling


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;

SEC Filling


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;

Press release


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