Which tender offers put small holders first

When a company buys back its own shares and more are tendered than it wants, everyone gets cut back — except holders of fewer than 100 shares, who are often taken in full. This tracks which offers carry that term.

Open now

No open offer currently meets all three tests: odd-lot priority, a traded security, and a price that can be compared to the market.

What that looks like in practice

Optimum Communications, Inc.OPTU

Closed 2026-06-30 · cleared at $2.50 a share

Odd-lot holder (under 100 shares)100%

Everyone else48.6%

More was tendered than the company wanted, so everyone was cut back — except holders of fewer than 100 shares, who were taken in full. Both figures come from the company's own final amendment. See the filing and the wording.

Also open, but not opportunities

These are open offers that mention odd lots. Each one fails at least one test — most often because the shares are not traded on any market, so there is nothing to buy.

Priority Income Fund, Inc. PRIF-PD Not traded — nothing to buy

Priced at net asset value · Closes 2026-10-30 · Under 100 shares

Read automatically from the filing

VISTA CREDIT STRATEGIC LENDING CORP. Not traded — nothing to buy

Priced at net asset value · Closes 2026-10-22 · Under 100 shares

Read automatically from the filing

COSCIENS Biopharma Inc. CSCIF Terms unclear

Closing date could not be read from the filing

Unclear — read the filing yourself

Highlands REIT, Inc. Terms unclear

Closing date could not be read from the filing · Cleared at $0.20 a share

Unclear — read the filing yourself

XAI Floating Rate & Alternative Income Trust XFLT Terms unclear

Priced at net asset value · Closing date could not be read from the filing

Unclear — read the filing yourself

The most an odd-lot tender can ever be is 99 shares. At $3 a share that is under $300 before costs; at $22 it is about $2,200. The share price decides whether an offer is worth the effort, which is why it is on every listing here.