Odd Lot Index

Cardiome Pharma Corp

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 date2009-10-06
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdNot stated
Must tick the odd-lot box on the formNot stated
Price offeredUSD $4.25 to $5.10 per share
Most an odd-lot tender could be$420.75 to $504.90

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 = 2009-10-06...rms and conditions set forth in this Offer to Purchase, the accompanying Issuer Bid Circular (the “Circular”) and the related Letter of Transmittal (which together constitute the “Offer”). This Offer expires at 5:00 p.m. (Eastern time) or at such later time as Cardiome may determine on October 6, 2009 or such later date as Cardiome may determine (the “Expiration Date”). This Offer is not conditional upon any minimum number of common shares being tendered to the Offer. The Offer is, however, subject to other conditions and Cardiome reser...
listed = True...ents of securities regulatory authorities in Canada applicable to issuer bids generally are not applicable in connection with the Offer. Additional U.S. Securities Law Considerations Our common shares are registered under Section 12(b) of the Exchange Act and are listed on NASDAQ. We do not believe or intend that the purchase of common shares pursuant to the Offer will result in the Company becoming eligible for termination or suspension of its Exchange Act reporting requirements or our common shares being delisted from NASDAQ. 26 Table of Contents Our common shares are currently “margin securities” under the rul...
mechanism = DUTCH...hareholders’ proportionate interest in the Company. See Section 3 of the Circular, “Purpose and Effect of the Offer”. WHAT WILL THE PURCHASE PRICE FOR THE SHARES BE AND WHAT WILL BE THE FORM OF PAYMENT? We are conducting the Offer through a procedure called a modified “Dutch Auction”. This procedure allows you to select a price between US$4.25 per share and US$5.10 per share at which you are willing to sell your common shares. Promptly after the Offer expires, we will determine the lowest price per share, which we refer to as the “Purchase Price”, that will enable us to purchase US$27.5 million of common shares (unl...
price = USD 4.25-5.1...ker, bank manager, lawyer, accountant or other professional advisor. OFFER TO PURCHASE FOR CASH up to US$27.5 million of its Common Shares without par value at a Purchase Price of Not Less Than US$4.25 and Not More Than US$5.10 per Common Share Cardiome Pharma Corp. (“Cardiome” or the “Company”) hereby invites the holders of its common shares to deposit, for purchase and cancellation by the Company, common shares of the Company pursuant to (i)...
threshold = 100...shares without specifying a price if such common shares are deposited pursuant to a purchase price tender and, in each case, to sell any common shares accepted for purchase under the Offer without the usual transaction costs associated with market sales; (g) shareholders owning fewer than 100 common shares whose common shares are purchased pursuant to the Offer will not only avoid the payment of brokerage commissions but will also avoid any odd lot discounts which may be applicable to a sale of common shares over the facilities of the TSX or NASDAQ; (h) the Offer is not conditional on any minimum number of common shares being deposited und...
txn_type = TENDER_OFFER...Contents Exhibit (a)(1)(A) This document is important and requires your immediate attention. If you are in doubt as to how to deal with it, you should consult your investment dealer, stockbroker, bank manager, lawyer, accountant or other professional advisor. OFFER TO PURCHASE FOR CASH up to US$27.5 million of its Common Shares without par value at a Purchase Price of Not Less Than US$4.25 and Not More Than US$5.10 per Common Share Cardiome Pharma Corp. (“Cardiome” or the “Company”) hereby invites the holders of its common shares to deposit, for purchase and cancellation by the Company, common shares of the Co...

The filings

FiledFormRoleOn EDGAR
2009-09-01SC TO-Ioriginal (governing)View