Odd Lot Index

ALDILA INC

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.
StatusClosed
Closing date2007-09-21
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formYes
Price offeredUSD $15.10 to $16.85 per share, in steps of $0.25
Most an odd-lot tender could be$1,494.90 to $1,668.15

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...0 shares in the aggregate, we will purchase all of your shares without subjecting them to the proration procedure if you properly tender all of these shares within the specified price range and do not properly withdraw them before the Expiration Time, and you complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. See Section 1. Once I have tendered shares in the Offer, can I withdraw my tender? Yes. You may withdraw any shares you have tendered at any time before 12:00 midnight, New York time, on September 21, 2007, unless we extend the Offer, in which case you can withdraw your shares unt...
expiry = 2007-09-21...Cash Up to 496,688 Shares of its Common Stock at a Purchase Price Not Greater Than $16.85 nor Less Than $15.10 Per Share __________________________ THE OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK TIME, ON SEPTEMBER 21, 2007, UNLESS THE OFFER IS EXTENDED. __________________________ Aldila, Inc., a Delaware corporation (the “Company,” “we,” or “us”), is offering to purchase up to 496,688 shares of its Common Stock, $0.01 par value per share (the “Common Stock”)...
listed = True...such right shall be deemed an ongoing right which may be asserted at any time and from time to time. Any determination by us concerning the events described in this Section 7 will be final and binding upon all parties. 8. Price Range of the Shares The shares are traded on NASDAQ under the symbol “ALDA”. The following table sets forth, for each of the periods indicated, the high and low closing prices per share as reported by NASDAQ based on published financial sources. High Low Fiscal 2005 First Quarter $18.71 $13.16 Second Quarter $24.06 $17.52 Third Quarter $27.83 $19.79 Fourth Quarter $25.50 $21.21 Fiscal 2006 First Quarter $3...
mechanism = DUTCH...you will find a more complete discussion where helpful. Who is offering to purchase my shares? Aldila, Inc. What will be the purchase price for the shares and what will be the form of payment? We are conducting the Offer through a procedure commonly called a “modified Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The lowest price that may be specified is $15.10. The prices that may be specified increase in increments of $0.25 up to $16.85, the highest price that may be specified. The price range for the Offer is $15.1...
must_tender_all = True...es having an aggregate value in excess of $7,500,000 are properly tendered at or below the purchase price and not properly withdrawn prior to the Expiration Time, we will purchase shares as follows: · first, all “odd lots” of less than 100 shares from holders who properly tender all of their shares within the specified price range and who do not properly withdraw them before the Expiration Time; -v- · second, from all other stockholders who properly tender shares at or below the purchase price determined in the Offer and who do not properly withdraw them before the Expiration Time, on a pro rata basis (except for stockholders who t...
price = USD 15.1-16.85...ares. The lowest price that may be specified is $15.10. The prices that may be specified increase in increments of $0.25 up to $16.85, the highest price that may be specified. The price range for the Offer is $15.10 to $16.85 per share. After the Offer expires, we will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest purchase price that will allow us to buy up to $7,500,000 in...
threshold = 100...ddition, if a tender is conditioned upon the purchase of a specified number of shares, it is possible that none of those shares will be purchased even though those shares were tendered at prices at or below the purchase price we determine. Odd Lots. The term “Odd Lot Holder” means a person who owns beneficially or of record fewer than 100 shares in the aggregate. To qualify for this priority, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. This priority is not available to partial tenders or to beneficial or record holders of 100 or more shares in the aggregate, even if these holders have separate acc...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 ex-a1a.htm OFFER TO PURCHASE ex-a1a.htm Exhibit (a)(1)(A) OFFER TO PURCHASE ALDILA, INC. Offer to Purchase for Cash Up to 496,688 Shares of its Common Stock at a Purchase Price Not Greater Than $16.85 nor Less Than $15.10 Per Share __________________________ THE OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK TIME, ON SEPTEMBER...

The filings

FiledFormRoleOn EDGAR
2007-08-24SC TO-Ioriginal (governing)View