CHAMBERS STREET PROPERTIES
Odd lots go first
Read automatically from the filing
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 | 2013-06-19 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Yes |
| Price offered | USD $10.10 per share |
| Most an odd-lot tender could be | $999.90 |
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.
election_required = True...r all of my Common Shares, will I be subject to proration? If you own, beneficially or of record, fewer than 100 Common Shares in the aggregate, you properly tender all of these Common Shares at or below the Purchase Price prior to the Expiration Date and you complete the section entitled “Odd Lots” in the Letter of Transmittal, and if applicable, in the Notice of Guaranteed Delivery, and all conditions to the Offer are satisfied or waived, we will purchase all of your Common Shares without subjecting them to proration. See Section 1. Once I have tendered Common Shares in the Offer, can I withdraw my tender? Yes. You may withdraw your tendered Common Shares at...
expiry = 2013-06-19...0 in Value of Shares of its Common Shares of Beneficial Interest at a Purchase Price of Not Greater Than $10.60 Nor Less Than $10.10 Per Common Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JUNE 19, 2013, UNLESS THE OFFER IS EXTENDED OR WITHDRAWN (SUCH TIME AND DATE, AS THEY MAY BE EXTENDED, THE “EXPIRATION DATE”). Chambers Street Properties, a Maryland real estate investment trust (a “REIT”) (the “Company,” “Chambers Street,” “we” or “us”...
listed = True...he Offer is, however, subject to a number of other terms and conditions. See Section 6. On May 21, 2013, the Common Shares were listed on the NYSE and began trading under the symbol “CSG.” Because May 21, 2013 was the first day on which the Common Shares were traded on the NYSE, we cannot provide a market price for the Common Shares. Tendering shareholders whose Common Shares are accepted for payment will lose the opportunity to trade such Common Shares and the chance to participate in any future market upside and future growth of the Company. The trading price of our Common Shares on the NYSE may be higher or...
mechanism = DUTCH...Chambers Street Properties, which we refer to as the “Company,” “Chambers Street,” “we” or “us.” What will be the purchase price for the Common Shares and what will be the form of payment? We are conducting this offer by means of a procedure commonly called a modified “Dutch auction.” We are offering to purchase for cash up to $125,000,000 in value of our Common Shares of Beneficial Interest, par value $0.01 per share (the “Common Shares”), pursuant to tenders at a price specified by the tendering shareholders of not greater than $10.60 nor less than $10.10 per Common Share, net to the seller in cash, less any appli...
mechanism = DUTCHEX-99.(A)(5)(B) 2 d556377dex99a5b.htm (A)(5)(B) (a)(5)(B) Exhibit (a)(5)(B) Media Contact Tim Gallen Tim@Gallen.com or Andrew Neilly Andrew@Gallen.com 925 930-9848 Chambers Street Announces Preliminary Results of its Modified Dutch Auction Tender Offer PRINCETON, N.J. – June 20, 2013 – Chambers Street Properties (NYSE: CSG) (“Chambers Street” or the “Company”) announced today the preliminary results of its modified “Dutch Auction” tender offer for the purchase of up to $125 million in value of its Common Shares of Beneficial Ownership, par value $0.01 per share (the “Commo...
mechanism = DUTCHEX-99.(A)(5)(C) 2 d560218dex99a5c.htm EX-99.(A)(5)(C) EX-99.(a)(5)(C) Exhibit (a)(5)(C) Media Contact Tim Gallen Tim@Gallen.com or Andrew Neilly Andrew@Gallen.com 925 930-9848 Chambers Street Announces Final Results of its Modified Dutch Auction Tender Offer PRINCETON, N.J. – June 26, 2013 – Chambers Street Properties (NYSE: CSG) (“Chambers Street” or the “Company”) announced today the final results of its modified “Dutch Auction” tender offer for the purchase of up to $125 million in value of its Common Shares of Beneficial Ownership, par value $0.01 per share (the “Common Shar...
price = USD 10.1...st Company, N.A., the paying agent and depositary for the tender offer, a total of 76,107,253 Common Shares were properly tendered and not properly withdrawn at or below the final purchase price of $10.10 per share, including 2,066,395 Common Shares that were tendered through notice of guaranteed delivery. Based on this preliminary count, the 76,107,253 Common Shares properly tendered and not properly withdrawn at or below the fin...
price = USD 10.1...Citigroup Global Markets Inc. acted as the dealer managers for the tender offer. Pursuant to the tender offer, the Company has accepted for purchase 12,376,237 Common Shares at a purchase price of $10.10 per share, for an aggregate cost of approximately $125,000,000, excluding fees and expenses relating to the tender offer. The 12,376,237 Common Shares accepted for purchase in the tender offer represent approximately 4.97% of Cha...
priority = True...hares at $10.10 per Common Share (the minimum purchase price pursuant to the Offer) can reasonably expect to have at least a portion of such Common Shares purchased at the Purchase Price if any Common Shares are purchased pursuant to the Offer (subject to the provisions relating to “odd lot” priority and proration). We are not aware of any jurisdiction where the making of the Offer is prohibited by any administrative or judicial action pursuant to any valid state statute. If we become aware of any valid state statute prohibiting the making of the Offer or the acceptance of the Common Shares, we will make a good faith effort to comply...
threshold = 100...fied number of Common Shares, none of those Common Shares will be purchased. Odd Lots. The term “Odd Lots” means all Common Shares properly tendered prior to the Expiration Date at prices at or below the Purchase Price and not properly withdrawn by any person who owned, beneficially or of record, a total of fewer than 100 Common Shares and so certified in the appropriate place on the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery (an “Odd Lot Holder”). To qualify for this preference, an Odd Lot Holder must tender all Common Shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. Odd Lots will be accep...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 d539745dex99a1a.htm (A)(1)(A) (a)(1)(A) Table of Contents Exhibit (a)(1)(A) CHAMBERS STREET PROPERTIES Offer to Purchase for Cash Up to $125,000,000 in Value of Shares of its Common Shares of Beneficial Interest at a Purchase Price of Not Greater Than $10.60 Nor Less Than $10.10 Per Common Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JUNE 19, 2013, UNLESS THE OFFER IS EXTENDED OR WITHDRAWN (SUCH T...
txn_type = TENDER_OFFEREX-99.(A)(5)(B) 2 d556377dex99a5b.htm (A)(5)(B) (a)(5)(B) Exhibit (a)(5)(B) Media Contact Tim Gallen Tim@Gallen.com or Andrew Neilly Andrew@Gallen.com 925 930-9848 Chambers Street Announces Preliminary Results of its Modified Dutch Auction Tender Offer PRINCETON, N.J. – June 20, 2013 – Chambers Street Properties (NYSE: CSG) (“Chambers Street” or the “Company”) announced today the preliminary results of its modified “Dutch Auction” tender offer for the purchase of up to $125 million in value of its Common Shares of Beneficial Ownership, par value $0.01 per share (the “Common Shares”) fr...
txn_type = TENDER_OFFEREX-99.(A)(5)(C) 2 d560218dex99a5c.htm EX-99.(A)(5)(C) EX-99.(a)(5)(C) Exhibit (a)(5)(C) Media Contact Tim Gallen Tim@Gallen.com or Andrew Neilly Andrew@Gallen.com 925 930-9848 Chambers Street Announces Final Results of its Modified Dutch Auction Tender Offer PRINCETON, N.J. – June 26, 2013 – Chambers Street Properties (NYSE: CSG) (“Chambers Street” or the “Company”) announced today the final results of its modified “Dutch Auction” tender offer for the purchase of up to $125 million in value of its Common Shares of Beneficial Ownership, par value $0.01 per share (the “Common Shares”) from its...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2013-05-21 | SC TO-I | original (governing) | View |
| 2013-06-20 | SC TO-I/A | amendment | View |
| 2013-06-26 | SC TO-I/A | amendment | View |