BALLY TECHNOLOGIES, 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.
| Status | Closed |
|---|---|
| Closing date | 2011-05-06 |
| 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 $34.50 to $40.00 per share |
| Most an odd-lot tender could be | $3,415.50 to $3,960.00 |
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...ders should be aware that this election could mean that none of their Shares will be purchased if they check a box other than the box representing the price at or below the Final Purchase Price. In addition, odd lot holders who tender all of their Shares must complete the section entitled "Odd Lots" in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders as set forth in Section 1. Stockholders holding their Shares through a broker, dealer, commercial bank, trust company or other nominee must contact the nominee in order to tender their Shares. Stockholders who hold Shares through nominees are urged to consult their no...
expiry = 2011-05-06...NC. of Up to $400,000,000 in Value of Shares of Its Common Stock At a Purchase Price Not Greater than $40.00 per Share Nor Less than $34.50 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, MAY 6, 2011 (THE "EXPIRATION DATE"), UNLESS THE OFFER IS EXTENDED. Bally Technologies, Inc., a Nevada corporation (the "Company," "Bally," "we," "us" or "our"), invites our stockholders to tender up to $400 million in value of shares of our common sto...
mechanism = DUTCH...What is the purpose of the Offer? We believe that the Offer is a prudent use of our financial resources given our business profile, assets and current market price. The Offer is an element of our overall plan to enhance stockholder value. We believe that the modified "Dutch auction" tender offer set forth in this Offer to Purchase represents an efficient mechanism to provide our stockholders with the opportunity to tender all or a portion of their Shares and thereby receive a return of some or all of their investment if they so elect. The Offer provides stockholders (particularly those who, because of the size of t...
must_tender_all = True...r of Transmittal. Tendering stockholders should be aware that this election could mean that none of their Shares will be purchased if they check a box other than the box representing the price at or below the Final Purchase Price. In addition, odd lot holders who tender all of their Shares must complete the section entitled "Odd Lots" in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders as set forth in Section 1. Stockholders holding their Shares through a broker, dealer, commercial bank, trust company or other nominee must contact the nominee in order to tender their Shares....
price = USD 34.5-40.0...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 price range for the Offer is $34.50 to $40.00 per Share. We will select the lowest purchase price, not greater than $40.00 nor less than $34.50 per Share, that will allow us to purchase $400 million in value of Shares, based on the number of Shares tendered, or, if...
threshold = 100...ing provisions will apply to the greater value. Odd Lots. For purposes of the Offer, the term "odd lots" means all Shares properly tendered at prices at or below the Final Purchase Price held by a stockholder who owns beneficially or of record an aggregate of fewer than 100 Shares which we refer to as an "odd lot holder," and so certifies in the appropriate place on the Letter of Transmittal and, if applicable, the Notice of Guaranteed Delivery. To qualify for this preference, an odd lot holder must tender all Shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above,...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 a2203339zex-99_a1i.htm EX-99.(A)(1)(I) Use these links to rapidly review the document TABLE OF CONTENTS Table of Contents Exhibit (a)(1)(i) Offer to Purchase for Cash by BALLY TECHNOLOGIES, INC. of Up to $400,000,000 in Value of Shares of Its Common Stock At a Purchase Price Not Greater than $40.00 per Share Nor Less than $34.50 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, MAY 6, 2011 (THE "EXPIRATION DATE"), UNLESS THE O...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2011-04-08 | SC TO-I | original (governing) | View |