Odd Lot Index

DAVITA INC DVA

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.
amendment with no indexed original - the original may predate the collection window or may not mention odd lots
StatusClosed
Closing date2002-04-19
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formYes
Price offeredUSD $20.00 to $25.00 per share
Most an odd-lot tender could be$1,980.00 to $2,475.00

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...ined below) who: (1) tenders all shares owned beneficially or of record by the Odd Lot Holder at a price at or below the selected purchase price (tenders of less than all of the shares owned by the Odd Lot Holder will not qualify for this preference); and (2) completes the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. Second, after the purchase of all of the shares properly tendered and not properly withdrawn by Odd Lot Holders, subject to the conditional tender provisions described in Section 6, we will purchase all other shares tendered at prices at or below the purchase price, on a pro rata...
expiry = 2002-04-19...PURCHASE Offer to Purchase for Cash Up to 24,000,000 of its Common Shares At a Purchase Price Not in Excess of $25.00 nor less than $20.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 9:00 A.M., NEW YORK CITY TIME, ON FRIDAY, APRIL 19, 2002, UNLESS THE OFFER IS EXTENDED. DaVita Inc., a Delaware corporation, invites its stockholders to tender up to 24,000,000 shares of its common stock, par value $0.001 per share, for purchase by DaVita at a price not in excess of $25.00 nor l...
listed = True...any financing plans other than the new senior credit facility. See Sections 7 and 9. The shares are listed and traded on the New York Stock Exchange under the symbol “DVA.” On March 14, 2002, the last full trading day before the announcement of the offer, the last reported sale price of the shares on the NYSE Composite Tape was $22.92. Stockholders are urged to obtain current market quotations for the shares. See Section 8. Our board of directors has approved the offer. However, neither we nor our board of directors makes any recommendation to you as to whether to tender or refrain from tendering your shares or as to the purchase price at whi...
mechanism = DUTCH...ill be purchased on a pro rata basis, except for “odd lots” which will be purchased on a priority basis. How much will DaVita pay me for my shares and in what form of payment? (Page 13) We are conducting the offer through a procedure commonly referred to as a modified “Dutch Auction.” • This procedure allows you to select the price within a specified range at which you are willing to sell your shares. The price range for this offer is $20.00 to $25.00. • We will determine the lowest single per share price within the price range that will allow us to purchase 24,000,000 shares, or if fewer shares are tendered, all sh...
must_tender_all = True...mation to the Depositary while you still have the right to withdraw the shares. In what order will tendered shares be purchased? Will tendered shares be prorated? (Page 5) • First, we will purchase shares from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the selected purchase price; and • Second, after purchasing all shares from the “odd lot holders,” we will then purchase shares from all other stockholders who properly tender shares at or below the selected purchase price, on a pro rata basis, subject to the conditional tender provisions described in Section 6. If a purchase...
price = USD 20.0-25.0...dure commonly referred to as a modified “Dutch Auction.” • This procedure allows you to select the price within a specified range at which you are willing to sell your shares. The price range for this offer is $20.00 to $25.00. • We will determine the lowest single per share price within the price range that will allow us to purchase 24,000,000 shares, or if fewer shares are tendered, all shares tendered. • All shares purchased will be purcha...
threshold = 100...ry. We also reserve the right, but will not be obligated, to purchase all shares properly tendered by any stockholder who tenders any shares owned beneficially or of record, at or below the selected purchase price and who, as a result of proration, would then own beneficially or of record an aggregate of fewer than 100 shares. If we exercise this right, we will increase the number of shares that we are offering to purchase in the offer by the number of shares purchased through the exercise of the right. Proration If proration of tendered shares is required, we will determine the proration factor as promptly as practicable following the Expiration Date. Subjec...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 3 dex99a1i.htm OFFER TO PURCHASE Prepared by R.R. Donnelley Financial -- Offer to Purchase OFFER TO PURCHASE Offer to Purchase for Cash Up to 24,000,000 of its Common Shares At a Purchase Price Not in Excess of $25.00 nor less than $20.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 9:00 A.M., NEW YORK CITY TIME, ON FRIDAY, APRIL 19, 2002,...

The filings

FiledFormRoleOn EDGAR
2002-03-21SC TO-I/Aamendment (governing)View