Odd Lot Index

FIRST FINANCIAL BANCORP /OH/ FFBC

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.
StatusClosed
Closing date2005-12-02
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 $17.50 to $19.50 per share, in steps of $0.25
Most an odd-lot tender could be$1,732.50 to $1,930.50

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...ll purchase all shares tendered by all holders of “odd lots” (as defined below) who: (1) tender all shares owned beneficially or of record at a price at or below the purchase price selected by us (partial tenders will not qualify for this preference); and (2) complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. • second, 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 selected by us on a pro rata basis with appropriate adjustments to avoid purchases of fractional shares, as described...
expiry = 2005-12-02...Offer to Purchase for Cash Up to 3,250,000 of its Common Shares At a Purchase Price of Not Greater Than $19.50 Nor Less Than $17.50 Per Share THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, DECEMBER 2, 2005, UNLESS THE TENDER OFFER IS EXTENDED. First Financial Bancorp., an Ohio corporation (“First Financial,” “we,” “our,” “us,” or the “Company”), is offering to purchase up to 3,250,000 of its common shares, no par value, including the associa...
listed = True...mation and representations must not be relied upon as having been authorized by us. THE TENDER OFFER IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF SHARES BEING TENDERED. THE TENDER OFFER IS, HOWEVER, SUBJECT TO OTHER CONDITIONS. SEE SECTION 7. Our common shares are traded on The Nasdaq National Market under the trading symbol “FFBC”. On Tuesday, November 1, 2005, the last full trading day before the announcement of the tender offer, the last reported sale price of the shares was $18.55 per share. You are urged to obtain current market quotations for the shares. See Section 8. OUR BOARD OF DIRECTORS HAS APPROVED THE MAKING OF THIS OFFER. YOU, HOWEVE...
mechanism = DUTCH...se my shares? We are offering to purchase up to 3,250,000 of our outstanding common shares, no par value, including the associated Rights. What will the purchase price for the shares be? We are conducting the tender offer through a procedure commonly called a modified “Dutch Auction”. This procedure allows you to select the price (in increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for this offer is $17.50 to $19.50 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by...
mechanism = DUTCH...t (a)(5)(viii) News News News News News News First Financial Bancorp Announces Preliminary Results of Dutch Auction Tender Offer HAMILTON, Ohio, December 5, 2005 - First Financial Bancorp. (Nasdaq Symbol: “FFBC”) announced today the preliminary results of its modified “Dutch Auction” tender offer. In the tender offer, First Financial offered to purchase up to 3.25 million common shares at a price that was not greater than $19.50 nor less than $17.50 per share. The tender offer expired at 12:00 midnight, New York City time, on December 2, 2005 and has not been extended. First Financial expects to accept for purchase...
mechanism = DUTCH...s of the tender offer Exhibit (a)(5)(ix) News News News News News News First Financial Bancorp Announces Final Results of Tender Offer HAMILTON, Ohio, December 9, 2005 - First Financial Bancorp. (Nasdaq Symbol: “FFBC”) today announced the final results of its modified “Dutch Auction” tender offer which expired at 12:00 midnight New York time, on December 2, 2005. First Financial will purchase 3.25 million common shares at a purchase price of $19.00 per share, totaling $61.75 million. Based on the final count by Computershare Trust Company of New York, the depositary, 3,669,818 shares were properly tendered and not w...
must_tender_all = True...ive Committee” sent to them separately or the Letter of Transmittal, respectively. See Section 4. In what order will you purchase the tendered shares? We will purchase shares: • first, from all shareholders of “odd lots” (persons who own less than 100 shares) who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration of the tender offer; • second, subject to the conditional tender provisions described in Section 6, on a pro rata basis from all other shareholders who properly tender shares at or below the purchase price selected by us and do not prope...
price = USD 17.5-19.5...fied “Dutch Auction”. This procedure allows you to select the price (in increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for this offer is $17.50 to $19.50 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by the tendering shareholders, we can purchase 3,250,000 shares, or such lesser number of...
price = USD 19.0...tender offer expired at 12:00 midnight, New York City time, on December 2, 2005 and has not been extended. First Financial expects to accept for purchase 3.25 million shares at a purchase price of $19.00 per share, for a total cost of approximately $61.75 million. Based on the preliminary count by Computershare Trust Company of New York, the depositary for the tender offer, 3,711,762 common shares, including 221,807 shares that w...
price = USD 19.0...ults of its modified “Dutch Auction” tender offer which expired at 12:00 midnight New York time, on December 2, 2005. First Financial will purchase 3.25 million common shares at a purchase price of $19.00 per share, totaling $61.75 million. Based on the final count by Computershare Trust Company of New York, the depositary, 3,669,818 shares were properly tendered and not withdrawn at a price at or below $19.00 per share. A total o...
threshold = 100...the shares conditionally tendered will be purchased even though those shares were tendered at prices at or below the purchase price. Odd Lots. The term “odd lots” means all shares tendered at prices at or below the purchase price selected by us by any person 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 the odd lot preference, an odd lots holder must tender all shares owned in accordance with the procedures described in Section 3. Odd lots will be accepted for payment before any proration of the...
txn_type = TENDER_OFFEREX-99.A.1.I 2 dex99a1i.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(i) FIRST FINANCIAL BANCORP. Offer to Purchase for Cash Up to 3,250,000 of its Common Shares At a Purchase Price of Not Greater Than $19.50 Nor Less Than $17.50 Per Share THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, DECE...
txn_type = TENDER_OFFEREX-99.A.5.VIII 2 dex99a5viii.htm PRESS RELEASE REGARDING THE PRELIMINARY RESULTS OF THE TENDER OFFER Press Release regarding the preliminary results of the tender offer Exhibit (a)(5)(viii) News News News News News News First Financial Bancorp Announces Preliminary Results of Dutch Auction Tender Offer HAMILTON, Ohio, December 5, 2005 - First Financial Bancorp. (Nasdaq Symbol: “FFBC”) announced today the preliminary results of its modif...
txn_type = TENDER_OFFEREX-99.A.5.IX 2 dex99a5ix.htm PRESS RELEASE REGARDING THE FINAL RESULTS OF THE TENDER OFFER Press Release regarding the final results of the tender offer Exhibit (a)(5)(ix) News News News News News News First Financial Bancorp Announces Final Results of Tender Offer HAMILTON, Ohio, December 9, 2005 - First Financial Bancorp. (Nasdaq Symbol: “FFBC”) today announced the final results of its modified “Dutch Auction” tender offer w...

The filings

FiledFormRoleOn EDGAR
2005-11-03SC TO-Ioriginal (governing)View
2005-12-05SC TO-I/AamendmentView
2005-12-12SC TO-I/AamendmentView