DARLINGTON COUNTY BANCSHARES INC
Terms unclear
Unclear — read the filing yourself
No closing date could be read from these filings. Nothing has been filed for this offer in over six months, so it is treated as closed — a tender offer cannot run that long. Check the filings below if you think otherwise.
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.
amendment with no indexed original - the original may predate the collection window or may not mention odd lots
| Status | Closed (assumed) |
|---|---|
| Closing date | could not be read; last filing 2004-11-10 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 500 shares |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
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.
mechanism = DUTCH...nder offer is just a large share repurchase - There are SEC rules that govern a tender offer - A tender offer document must be mailed to shareholders setting forth the offer and its financial impact on the company - An alternative to a fixed price tender is the "Dutch Auction" tender offer - Company establishes a range of prices it is willing to pay - Shareholders may elect to sell shares within the range - The company selects the price at which it can purchase the most shares at the lowest cost per share - All shares are purchased at the same price - No guarantee that shareholders will tender shares - Many s...
threshold = 500...LIT -------------------------------------------------------------------------------- - Method whereby outstanding shares are reduced, with fractional shares cashed out - Example 1 for 500 reverse stock split - Shareholders receive 1 share for every 500 shares they own - Shareholders with fewer than 500 shares receive cash - Fractional shares receive cash - Must be approved by shareholders - Establish reverse stock split to guarantee reducing remaining shareholders below 300 - Determine number of fractional shares and total cost - Determine how the purchase of these shares will be financed - SEC rules require a proxy offer or tender offer docu...
txn_type = CONSOLIDATION...ust preferred? - Holding company loan? TRIANGLE CAPITAL PARTNERS ------------------------- Investment Bankers 4 OPTIONS -------------------------------------------------------------------------------- - Odd-lot tender offer - Share repurchase - Tender offer - Reverse stock split - Cash-out merger - Form 13E(3) must be filed with the SEC if any of the above options are used to de-register. - Sets forth the Board's reasons for going private and the impact on the company and its shareholders. TRIANGLE CAPITAL PARTNERS ------------------------- Investment Bankers 5 ODD-LOT TENDER OFFER ------------------------------...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2004-11-10 | SC 13E3/A | amendment (governing) | View |