ELECTRONICS FOR IMAGING 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 | 2009-12-18 |
| 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 $11.25 to $12.75 per share |
| Most an odd-lot tender could be | $1,113.75 to $1,262.25 |
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...100 shares and I tender all of my shares, will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of these shares at or below the purchase price prior to the Expiration Time and you complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guarantee Delivery, we will purchase all of your shares without subjecting them to the proration procedure. See Section 1. Once I have tendered shares in the Offer, can I withdraw my tender? Yes. You may withdraw any shares you have tendered at any time before 12:00 midnight, New York City time, on De...
expiry = 2009-12-18...ash up to 4,500,000 Shares of Its Common Stock at a Purchase Price Not Greater Than $12.75 Nor Less Than $11.25 Per Share THE TENDER OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON DECEMBER 18, 2009, UNLESS THE OFFER IS EXTENDED. WE MAY EXTEND THE OFFER PERIOD AT ANY TIME. Electronics For Imaging, Inc. is: • offering to purchase up to 4,500,000 shares of its common stock, par value $0.01 per share (the “common stock”) in a tender offe...
listed = True...licensed solutions which are used in digital copiers, desktop laser printers and multifunctional devices. We were incorporated in Delaware in 1988 and commenced operations in 1989. In 1992, we made our initial public offering of common stock. Our common stock is traded on the NASDAQ Global Select Market under the symbol “EFII”. Our corporate offices are located at 303 Velocity Way, Foster City, California 94404. Where You Can Find More Information. We are subject to the informational filing requirements of the Exchange Act, and, accordingly, are obligated to file reports, statements and other information with the SEC relating to our business, fi...
mechanism = DUTCH...e offering to purchase up to 4,500,000 shares of our common stock, par value $0.01 per share. See Section 1. 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 commonly called a modified “Dutch Auction.” This procedure allows you to select the price (in multiples of $0.10) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $11.25 to $12.75 per share. After the Offer expires, we will look at the prices chosen by stockholders for all of the shares properly tendered. We will...
mechanism = DUTCHEX-99.(A)(1)(XI) 2 dex99a1xi.htm PRESS RELEASE Press Release Exhibit (a)(1)(xi) For more information: John Ritchie Chief Financial Officer EFI 650-357-3500 Investor Relations: JoAnn Horne Market Street Partners 415-445-3239 EFI ANNOUNCES FINAL RESULTS OF ITS MODIFIED DUTCH AUCTION TENDER OFFER Foster City, Calif. – December 24, 2009 – Electronics For Imaging, Inc. (Nasdaq: EFII), a world leader in customer-focused digital printing innovation, announced today the final results of its previously announced modified “Dutch Auction” tender offer, which expired at 12:00 midnight, New York City time, on December 18, 2009...
must_tender_all = True...may elect to accept for payment, subject to applicable law) are properly tendered at or below the purchase price and not properly withdrawn prior to the Expiration Time, 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 we determine and do not properly withdraw them before the Expiration Time; iv Table of Contents • second, from all other stockholders who properly tender shares at or below the purchase price we determine, on a pro rata basis (except for stockholders who tendered shares conditionally for which the condition...
price = USD 11.25-12.75...ified “Dutch Auction.” This procedure allows you to select the price (in multiples of $0.10) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $11.25 to $12.75 per share. After the Offer expires, we will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest purchase price that will allow us to buy 4,500,000 shares. If...
threshold = 100...d at prices at or below the purchase price. 2 Table of Contents Odd Lots. The term “odd lots” means all shares properly tendered prior to the Expiration Time at prices at or below the purchase price selected by us and not properly withdrawn by any person (an “Odd Lot Holder”) who owned beneficially or of record a total of fewer than 100 shares and so certified in the appropriate place on the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery. To qualify for this preference, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. Odd Lots will be accepted for payment before any pr...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 dex99a1i.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(i) Electronics For Imaging, Inc. Offer to Purchase for Cash up to 4,500,000 Shares of Its Common Stock at a Purchase Price Not Greater Than $12.75 Nor Less Than $11.25 Per Share THE TENDER OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 12:00 MIDNIGHT, N...
txn_type = TENDER_OFFER...additional 990,196 shares resulting from the exercise of its option to purchase up to an additional 2% of its outstanding shares of common stock. Because the tender offer was oversubscribed, EFI accepted shares tendered on a pro rata basis as provided in the Offer to Purchase with a proration factor of approximately 65.9% for all tendered shares except for the odd lot shares, in the amount of 2,246 shares, that were accepted without proration, in accordance with the terms of the tender offer. EFI expects to have approximately 44.5 million shares of its common stock outstanding as of the time immediately follo...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2009-11-20 | SC TO-I | original (governing) | View |
| 2009-12-24 | SC TO-I/A | amendment | View |