BOGEN COMMUNICATIONS INTERNATIONAL 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 | 2001-12-04 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
How it finished
| Shares tendered | 1,500,000 |
|---|
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.
expiry = 2001-12-04...pon any minimum number of shares being tendered. The offer is subject to a number of other terms and conditions specified in the offer to purchase that is being distributed to shareholders. The offer will expire at 5:00 p.m., New York City time, on Tuesday, December 4, 2001, unless extended by Bogen. The information agent is MacKenzie Partners, Inc. None of Bogen, its board of directors, and the information agent is making any recommendation to shareholders as to whether to tender or refrain from tendering th...
mechanism = DUTCH...ATE RELEASE BOGEN COMMUNICATIONS INTERNATIONAL, INC. ANNOUNCES COMMENCEMENT OF TENDER OFFER RAMSEY, NEW JERSEY, November 5, 2001 - Bogen Communications International, Inc. (Nasdaq: BOGN) ("Bogen") announced today that it is commencing its previously announced modified "Dutch Auction" tender offer for 1,500,000 shares of its common stock at a price per share of $2.50 - $3.00. Under the tender offer, shareholders will have the opportunity to tender some or all of their shares at a price within the $2.50 to $3.00 price range. Based on the number of shares tendered and the prices specified by the tendering shareholders,...
price = USD 2.5...l, Inc. (Nasdaq: BOGN) ("Bogen") announced today that it is commencing its previously announced modified "Dutch Auction" tender offer for 1,500,000 shares of its common stock at a price per share of $2.50 - $3.00. Under the tender offer, shareholders will have the opportunity to tender some or all of their shares at a price within the $2.50 to $3.00 price range. Based on the number of shares tendered and the prices speci...
txn_type = TENDER_OFFER...ares at a price not greater than $3.00 per share nor less than $2.50 per share, net to the seller in cash, without interest, as specified by shareholders tendering their shares. Bogen's offer is made on the terms and subject to the conditions set forth in the Offer to Purchase, dated November 5, 2001, and in the related Letter of Transmittal, which, as amended or supplemented from time to time, together constitute the offer. This Tender Offer Statement on Schedule TO is filed in satisfaction of the reporting requirements of Rule 13e-4(c)(2) promulgated under the Securities Exchange Act of 1934, as amended. The...
tendered = 1500000...price range. Based on the number of shares tendered and the prices specified by the tendering shareholders, Bogen will determine the lowest per share price within the range that will enable it to buy 1,500,000 shares, or such lesser number of shares that are properly tendered. If holders of more than 1,500,000 shares properly tender their shares at or below the determined price per share, Bogen will purchase shares tendered by the holders, at the determined price per share, on a pro rata basis. The Company may, at its election, give preference to sha...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2001-11-05 | SC TO-I | original (governing) | View |