Odd Lot Index

LABRANCHE & CO 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.
StatusClosed
Closing date2010-03-01
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 $4.60 per share
Most an odd-lot tender could be$455.40

How it finished

Shares tendered15,000,000

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...the Offer.” If I own fewer than 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 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 Guaranteed Delivery, we will purchase all of your shares without subjecting them to the proration procedure. “The Tender Offer—Section 1. Terms of the Offer.” 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 5:00...
expiry = 2010-03-01...e Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash by LABRANCHE & CO INC. of 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. LaBranche & Co Inc., a Delaware corporation (the “Company,” “we,” or “us”), is offering to purchase up to 15,000,000 shares of its common stock, par value $0.01 per share (the “common stock”), at a price of $...
expiry = 2010-03-01...2010 as supplemented on February 9, 2010 by LABRANCHE & CO INC. of Up to 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. By Mail or Overnight Courier: BNY Mellon Shareowner Services Attn: Corporate Actions Department 27th Floor 480 Washington Boulevard Jersey City, NJ 07310 By Facsimile Transmission: For Eligible Institutions O...
listed = True...the events described above will be final and binding on all persons participating in the Offer, subject to such Offer participant’s disputing such determination in a court of competent jurisdiction. 22 Table of Contents 8. Price Range of the Shares The shares are traded on the NYSE under the symbol “LAB”. The following table sets forth, for each of the periods indicated, the high and low sales prices per share as reported by the NYSE based on published financial sources. High Low Fiscal 2008: First Quarter $ 6.21 $ 3.70 Second Quarter 8.12 4.25 Third Quarter 7.95 3.23 Fourth Quarter 6.70 2.86 Fiscal 2009: First Qua...
mechanism = DUTCH...a total of $141.6 million. This increase left us with $100 million of common stock to be repurchased under the share repurchase program. Repurchases under the program may be made in open market transactions, privately negotiated transactions, in a tender offer, Dutch auction or otherwise, in compliance with applicable state and federal securities laws. This Offer is a significant element of this share repurchase program and assuming 15,000,000 shares are repurchased in the Offer, we will have completed purchases of approximately $110.6 million of our common stock pursuant to the share repurchase program. Ass...
mechanism = FIXED...y 9, 2010 Exhibit (a)(1)(J) Letter of Transmittal To Tender Shares of Common Stock Pursuant to the Offer to Purchase for Cash Dated January 29, 2010 as supplemented on February 9, 2010 by LABRANCHE & CO INC. of Up to 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. By Mail or Overnight Courier: BNY Mellon Shareowner Services Attn: Corporate Actions Department 27th Floor 480 Washington Boulevard Jersey City, NJ 07310 By Facsimile Transmission: For Eligible I...
must_tender_all = True...greater number of shares as we may elect to accept for payment, subject to applicable law) are properly tendered 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 and do not properly withdraw them before the Expiration Time; and • second, from all other stockholders who properly tender shares, on a pro rata basis. Because of the “odd lot” priority and proration provisions described above, we may not purchase all of the shares that you tender. See “The Tender Offer—Section 1. Terms of the Offer.” I...
must_tender_all = True...ave been deemed withdrawn to permit us to purchase a total of 15,000,000 shares. In selecting these conditional tenders, we will select by random lot, treating all tenders by a particular stockholder as a single lot, and will select only from stockholders who tendered all of their shares. Upon selection by lot, if any, we will limit our purchase in each case to the designated minimum number of shares to be purchased. All shares tendered by a stockholder subject to a conditional tender pursuant to the Letter of Transmittal or notice of guaranteed delivery regarded as withdrawn as a result of proration and not eventually p...
price = USD 4.6...ex99a1a.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash by LABRANCHE & CO INC. of 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. LaBranche & Co Inc., a Delaware corporation (the “Company,” “we,” or “us”), is offering to pu...
price = USD 4.6...ck Pursuant to the Offer to Purchase for Cash Dated January 29, 2010 as supplemented on February 9, 2010 by LABRANCHE & CO INC. of Up to 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. By Mail or Overnight Courier: BNY Mellon Shareowner Services Attn: Corporat...
threshold = 100...of shares tendered, it is possible that all of the shares that a stockholder tenders in the Offer may not be purchased. Odd Lots. The term “odd lots” means all shares properly tendered prior to the Expiration Time 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. 11 Table of Contents 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. Procedures for Tendering Sha...
threshold = 100...box: ¨ ODD LOTS (See Instruction 12) To be completed only if shares are being tendered by or on behalf of a person owning, beneficially or of record, an aggregate of fewer than 100 shares. The undersigned either (check one box): ¨ is the beneficial or record owner of an aggregate of fewer than 100 shares, all of which are being tendered; or ¨ is a broker, dealer, commercial bank, trust company, or other nominee that (a) is tendering for the beneficial owner(s), shares with respect to which it is the record holder, and (b) believes, based upon representations made to it by the beneficial owner(s), that each such person is the beneficial o...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 dex99a1a.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash by LABRANCHE & CO INC. of 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. LaBranche & Co Inc., a Delawa...
txn_type = TENDER_OFFER...edule TO (as amended, the “Schedule TO”) filed by LaBranche & Co Inc., a Delaware corporation (“LaBranche” or the “Company”), on January 29, 2010, pursuant to Rule 13e-4 under the Securities Act of 1934, as amended (the “Exchange Act”), in connection with its offer to purchase up to 15,000,000 shares of its common stock, par value $0.01 per share, at a price of $4.60 per share, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase dated January 29, 2010 (the “Offer to Purchase”), and in the related...
txn_type = TENDER_OFFEREX-99.(A) (1) (J) 3 dex99a1j.htm LETTER OF TRANSMITTAL, AS SUPPLEMENTED ON FEBRUARY 9, 2010 Letter of Transmittal, as supplemented on February 9, 2010 Exhibit (a)(1)(J) Letter of Transmittal To Tender Shares of Common Stock Pursuant to the Offer to Purchase for Cash Dated January 29, 2010 as supplemented on February 9, 2010 by LABRANCHE & CO INC. of Up to 15,000,000 Shares of its Common Stock at a Purchase Price of $4.60 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MARCH 1, 2010, UNLESS THE OFFER IS EXTENDED. By Mail or Overnig...
tendered = 15000000...e notice of guaranteed delivery, you must calculate and appropriately indicate the minimum number of shares that must be purchased if any are to be purchased. After the Offer expires, if in excess of 15,000,000 shares are properly tendered and not properly withdrawn and we must prorate our acceptance of and payment for tendered shares, we will calculate a preliminary proration percentage based upon all shares properly tendered, conditionally or unconditionally. If the effect of this preliminary proration would be...

The filings

FiledFormRoleOn EDGAR
2010-01-29SC TO-Ioriginal (governing)View
2010-02-09SC TO-I/AamendmentView
2010-02-18SC TO-I/AamendmentView