ACADIA REALTY TRUST AKR
Terms unclear
Unclear — read the filing yourself
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
| Status | Closed |
|---|---|
| Closing date | 2002-01-22 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Yes |
| Price offered | USD $6.50 per share |
| Most an odd-lot tender could be | $643.50 |
Where each of these comes from
Every line above was read out of the filing. Here is the wording it was read from, so you can check it.
election_required = True...RMS OF THE OFFER) AT MORE THAN ONE PRICE. IN ORDER TO VALIDLY TENDER SHARES, ONE AND ONLY ONE PRICE BOX MUST BE CHECKED IN THE APPROPRIATE SECTION ON EACH LETTER OF TRANSMITTAL. In addition, if you are an Odd Lot Holder who tenders all of your Shares you must complete the section entitled "Odd Lots" in the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery in order to qualify for the preferential treatment available to Odd Lot Holders as set forth in Section 1. Signature Guarantees And Method Of Delivery. No signature guarantee is required on the Letter of Transmittal if (i) the Letter of Transmittal is signed by the registered holde...
expiry = 2002-01-22...you will not incur any stock transfer tax. See Introduction. How long do I have to tender my Shares? . . . . . . . . . . . . . . . You may tender your Shares until the Offer expires. The tender offer will expire at 11:59 p.m. Eastern Time on January 22, 2002, unless we extend or earlier terminate the Offer. See Section 1. 1 Has Acadia or its Board of Trustees adopted a position on the tender offer? . . . . . . . . . . Neither we nor our Board of Trustees is making any recommendation as to whet...
listed = True...the total number of Shares we are offering to purchase up to 5,384,615 Shares. The 5,384,615 Shares represent approximately 18.8% of the Shares outstanding (or 15.9% if all of the Units were converted to Shares outstanding) as of December 20, 2001. The Shares are traded on the New York Stock Exchange ("NYSE") under the symbol "AKR". As of the last practicable date prior to the announcement of the Offer, December 19, 2001, the closing price for each of the Shares as reported on NYSE was $6.26. WE URGE YOU TO OBTAIN CURRENT QUOTATIONS OF THE MARKET PRICE OF THE SHARES. We are a real estate investment trust formed under the laws of the...
mechanism = DUTCH..., Acadia Realty Trust, a Maryland real estate investment trust ("Acadia"), hereby invites you to tender your Common Shares of Beneficial Interest (including common units of limited partnership interest convertible into our common shares) ("Shares") to us in a modified Dutch auction. This means that if you wish to participate in the auction, you will propose a price at which you agree to sell your Shares to us that is not greater than $6.50 nor less than $6.05 for each of the Shares you wish to sell. The terms and conditions of our offer are contained in this Offer to Purchase and in the related Letter of Transmitta...
mechanism = DUTCH...unces Preliminary Results of Dutch Auction Tender Offer for its Shares New York, New York (February 4, 2002) - Acadia Realty Trust (NYSE: AKR), a fully integrated shopping center and real estate investment trust, today announced the preliminary results of its modified Dutch auction tender offer, which expired at 11:59 P.M. Eastern Time on February 1, 2002. Acadia commenced the tender offer on December 20, 2001, when it offered to purchase for cash up to 4,784,615 of its common shares (including operating partnership units convertible into common shares), subject to the terms and conditions set forth in the Offer to...
must_tender_all = True...AWN PREVIOUSLY IN ACCORDANCE WITH THE TERMS OF THE OFFER) AT MORE THAN ONE PRICE. IN ORDER TO VALIDLY TENDER SHARES, ONE AND ONLY ONE PRICE BOX MUST BE CHECKED IN THE APPROPRIATE SECTION ON EACH LETTER OF TRANSMITTAL. In addition, if you are an Odd Lot Holder who tenders all of your Shares you must complete the section entitled "Odd Lots" in the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery in order to qualify for the preferential treatment available to Odd Lot Holders as set forth in Section 1. Signature Guarantees And Method Of Delivery. No signature guarantee is required on the Letter of...
price = USD 6.5...ber 30, 2001 and for the year ended December 31, 2000 has been adjusted for certain costs and expenses to be incurred as a result of the purchase of 5,384,615 Shares at an assumed Purchase Price of $6.50 per Share pursuant to this Offer and the agreement with Mr. Dworman. The consolidated income statements give effect to the purchase of Shares as of the beginning of each period presented. The consolidated balance sheet gives effe...
threshold = 100...including the date of such notice. For purposes of the Offer, a "business day" means any day other than a Saturday, Sunday or federal holiday and consists of the time period from 12:01 a.m. through 12:00 midnight, New York City time. 2. Tenders By Holders Of Fewer Than 100 Shares ("Odd Lots") Upon the terms and subject to the conditions of the Offer, we will accept for purchase, without proration, all Shares validly tendered on or prior to the Expiration Date at or below the Purchase Price by or on behalf of Holders who beneficially owned as of the close of business on December 20, 2001, and continue to beneficially own as...
txn_type = TENDER_OFFEREX-99.A 3 ex99-a1i.txt EXHIBIT 99.A1I 99.a(1)(i) ACADIA REALTY TRUST OFFER TO PURCHASE FOR CASH UP TO 4,784,615 Shares of Acadia Realty Trust Common Shares of Beneficial Interest (including common units of limited partnership interests in Acadia Realty Limited Partnership convertible into Acadia Realty Trust Common Shares of Beneficial Interest) AT A PURCHASE PRICE NOT GREATER THAN $6.50 NOR LESS THAN $6.05 FOR EACH OF THE...
txn_type = TENDER_OFFER...002. Acadia commenced the tender offer on December 20, 2001, when it offered to purchase for cash up to 4,784,615 of its common shares (including operating partnership units convertible into common shares), subject to the terms and conditions set forth in the Offer to Purchase dated December 20, 2001 and the related Letter of Transmittal. The terms of the tender offer included a purchase price for each tendered share of not more than $6.50 nor less than $6.05 net to the seller in cash, without interest. On January 18, 2002, Acadia amended the tender offer to increase by 600,000 the number of shares it was offe...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2001-12-20 | SC TO-I | original (governing) | View |
| 2002-02-04 | SC TO-I/A | amendment | View |