DIAMOND MANAGEMENT & TECHNOLOGY CONSULTANTS, 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 | 2008-03-11 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Yes |
| Price offered | USD $5.25 to $6.00 per share, in steps of $0.05 |
| Most an odd-lot tender could be | $519.75 to $594.00 |
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...proration? If you beneficially own fewer than 100 shares of our common stock, in the aggregate, you properly tender all of these shares at or below the purchase price and do not properly withdraw them prior to the expiration date for the tender offer and you complete the section entitled “Odd Lots” in the letter of transmittal and, if applicable, in the notice of guaranteed delivery, we will purchase all of your shares of our common stock without subjecting them to the proration procedure. See Section 1. What is the market price of my shares as of a recent date? As of February 8, 2008, the last full trading day before the public announcement of the tender offe...
expiry = 2008-03-11...NT & TECHNOLOGY CONSULTANTS, INC. Up to 5,000,000 Shares of its Common Stock at a Purchase Price not Greater Than $6.00 nor Less than $5.25 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON MARCH 11, 2008, UNLESS THE OFFER IS EXTENDED. Diamond Management & Technology Consultants, Inc., a Delaware corporation, is offering to purchase from its stockholders, for cash, up to 5,000,000 shares of its common stock, par value $0.001 per share. We r...
listed = True...at any time, in its sole discretion, prior to the expiration date. Any determination or judgment by Diamond concerning the events described above will be final and binding on all parties. 8. PRICE RANGE OF SHARES Price Ranges Of Shares. Diamond’s common stock is quoted on the NASDAQ Global Select Market under the symbol “DTPI.” The following table shows the high and low sale prices per share of our common stock as reported on the NASDAQ Global Select Market for the periods indicated: High Low 2006 First Quarter $ 10.98 $ 7.36 Second Quarter $ 11.40 $ 7.30 Third Quarter $ 11.30 $ 7.57 Fourth Quarter $ 12.54 $ 10.20 2007 First Quarter $ 15.98 $ 10...
mechanism = DUTCH...ase where you will find a more complete discussion. Who is offering to purchase my shares? Diamond Management & Technology Consultants, Inc. What will the purchase price for the shares be? We are conducting the tender offer through a procedure commonly called a “Dutch Auction.” This procedure allows you to select the price per share (in increments of $0.05) within a price range specified by us at which you are willing to sell your shares of our common stock. We will determine the purchase price that we will pay per share promptly after the offer expires. The purchase price will be the lowest price at which, b...
must_tender_all = True...t for payment, subject to applicable law) are properly tendered at or below the purchase price and not properly withdrawn prior to the expiration date for the tender offer, we will purchase shares: first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price and do not properly withdraw them before the expiration date for the tender offer; 4 Table of Contents second, from all other stockholders who properly tender shares at or below the purchase price and do not properly withdraw them before the applicable expiration date, on a pro rata basis (except for stockh...
price = USD 5.25-6.0...ckholders are urged to obtain current market quotations for their shares. 9. SOURCE AND AMOUNT OF FUNDS Assuming that 5,000,000 shares are purchased in the tender offer at a price between $5.25 and $6.00 per share, the aggregate purchase price for the shares purchased in the tender offer will be between $26,250,000 and $30,000,000. We anticipate that we will pay for shares tendered in the tender offer and accepted by us, and all...
threshold = 100...he purchase price. Odd Lots. The term “odd lots” means, with respect to the shares of our common stock, all shares properly tendered prior to the applicable expiration date at prices at or below the purchase price and not properly withdrawn by any person (an “Odd Lot Holder”) who beneficially owned fewer than 100 shares, as the case may be, and so certified in the appropriate place in the letter of transmittal and, if applicable, in the notice of guaranteed delivery. To qualify for the odd lot preference with respect to the tender offer, an Odd Lot Holder must tender all shares of our common stock, as applicable, owned by the Odd Lot Holder in accordanc...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 c23619exv99wxayx1yxay.htm OFFER TO PURCHASE FOR CASH exv99wxayx1yxay Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash by DIAMOND MANAGEMENT & TECHNOLOGY CONSULTANTS, INC. Up to 5,000,000 Shares of its Common Stock at a Purchase Price not Greater Than $6.00 nor Less than $5.25 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 12:00 MIDNIGHT, NEW YO...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2008-02-12 | SC TO-I | original (governing) | View |