Odd Lot Index

LONE STAR STEAKHOUSE & SALOON 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 date2002-06-14
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formNot stated
Price offeredUSD $20.50 to $22.50 per share
Most an odd-lot tender could be$2,029.50 to $2,227.50

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.

expiry = 2002-06-14...chase dated May 17, 2002 and in the related Letter of Transmittal which, as amended or supplemented from time to time, together constitute the offer. THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, JUNE 14, 2002, UNLESS THE OFFER IS EXTENDED. The offer is not conditioned on any minimum number of shares being tendered. However, the offer is subject to certain other conditions described in the Offer to Purchase. We believe that the offer is a pruden...
expiry = 2002-06-14...ALOON, INC. OF UP TO 4,000,000 SHARES OF COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $22.50 NOR LESS THAN $20.50 PER SHARE OUR OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, JUNE 14, 2002, UNLESS OUR OFFER IS EXTENDED. WE MAY EXTEND THE OFFER PERIOD AT ANY TIME. LONE STAR STEAKHOUSE & SALOON, INC. IS: o offering to purchase up to 4,000,000 shares of its common stock in a tender offer, and o offering to purchase these shares...
expiry = 2002-06-14...ALOON, INC. OF UP TO 4,000,000 SHARES OF COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $22.50 NOR LESS THAN $20.50 PER SHARE OUR OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JUNE 14, 2002, UNLESS OUR OFFER IS EXTENDED. WE MAY EXTEND THE OFFER PERIOD AT ANY TIME. LONE STAR STEAKHOUSE & SALOON, INC. IS: - offering to purchase up to 4,000,000 shares of its common stock in a tender offer, and - offering to purchase these shares...
listed = True...CH SHARES SHOULD BE TENDERED. As of May 10, 2002, there were 24,910,037 Shares of Common Stock issued and outstanding. The 4,000,000 Shares that the Company is offering to purchase represent approximately 16% of the Shares outstanding at that date. The Shares are traded on the Nasdaq National Market ("Nasdaq") under the symbol "STAR." On May 8, 2002, the last full trading day on Nasdaq prior to the pre-commencement announcement of the Offer, the closing per Share sale price was $20.23. On May 16, 2002, the last full trading day on Nasdaq prior to the commencement of the Offer, the closing per Share sale price was $21.60. STOCKHOLDERS...
listed = True...CH SHARES SHOULD BE TENDERED. As of May 10, 2002, there were 24,910,037 Shares of Common Stock issued and outstanding. The 4,000,000 Shares that the Company is offering to purchase represent approximately 16% of the Shares outstanding at that date. The Shares are traded on the Nasdaq National Market ("Nasdaq") under the symbol "STAR." On May 8, 2002, the last full trading day on Nasdaq prior to the pre-commencement 5 announcement of the Offer, the closing per Share sale price was $20.23. On May 16, 2002, the last full trading day on Nasdaq prior to the commencement of the Offer, the closing per Share sale price was $21.60. STOCKHOLDE...
mechanism = DUTCH...n. We are offering to purchase up to 4,000,000 shares of our outstanding common stock. See Section 1. WHAT IS THE PURCHASE PRICE? o The price range for our offer is $20.50 to $22.50 per share. We are conducting our offer through a procedure commonly called a "modified Dutch auction." This procedure allows you to choose a price or prices within this price range at which you are willing to sell your shares. o We will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest price that will enable us to buy 4,000,000 shares. If the number of shares tendered at or...
mechanism = DUTCH...n. We are offering to purchase up to 4,000,000 shares of our outstanding common stock. See Section 1. WHAT IS THE PURCHASE PRICE? - The price range for our offer is $20.50 to $22.50 per share. We are conducting our offer through a procedure commonly called a "modified Dutch auction." This procedure allows you to choose a price or prices within this price range at which you are willing to sell your shares. - We will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest price that will enable us to buy 4,000,000 shares. If the number of shares tendered at or...
must_tender_all = True...h greater number of Shares as the Company may elect to purchase pursuant to the Offer) are properly tendered at or below the Purchase Price and not withdrawn, the Company will accept Shares for purchase first from all Odd Lot Holders (as defined in Section 1) who properly tender all of their Shares at or below the Purchase Price and then on a pro rata basis from all other stockholders who properly tender Shares at or below the Purchase Price. Stockholders may tender Shares subject to the condition that a specified minimum number of the stockholders' Shares tendered must be purchased if any Shares tendered are purchased. See Section...
must_tender_all = True...h greater number of Shares as the Company may elect to purchase pursuant to the Offer) are properly tendered at or below the Purchase Price and not withdrawn, the Company will accept Shares for purchase first from all Odd Lot Holders (as defined in Section 1) who properly tender all of their Shares at or below the Purchase Price and then on a pro rata basis from all other stockholders who properly tender Shares at or below the Purchase Price. Stockholders may tender Shares subject to the condition that a specified minimum number of the stockholders' Shares tendered must be purchased if any Shares tendered are purchased. See Section...
price = USD 20.5-22.5...khouse & Saloon, Inc., a Delaware corporation. We are offering to purchase up to 4,000,000 shares of our outstanding common stock. See Section 1. WHAT IS THE PURCHASE PRICE? o The price range for our offer is $20.50 to $22.50 per share. We are conducting our offer through a procedure commonly called a "modified Dutch auction." This procedure allows you to choose a price or prices within this price range at which you are willing to sell your...
price = USD 20.5-22.5...khouse & Saloon, Inc., a Delaware corporation. We are offering to purchase up to 4,000,000 shares of our outstanding common stock. See Section 1. WHAT IS THE PURCHASE PRICE? - The price range for our offer is $20.50 to $22.50 per share. We are conducting our offer through a procedure commonly called a "modified Dutch auction." This procedure allows you to choose a price or prices within this price range at which you are willing to sell your...
threshold = 100.... For purposes of the Offer, the term "Odd Lots" means all Shares properly tendered, in accordance with the procedures set forth in Section 2, by the Expiration Date at prices at or below the Purchase Price and not withdrawn, by or on behalf of stockholders ("Odd Lot Holders") who, on the date of tender, beneficially hold fewer than 100 Shares. As set forth above, Odd Lots will be 6 accepted for purchase before any proration. In order to qualify for this preference, an Odd Lot Holder must properly tender at a price at or below the Purchase Price all Shares beneficially owned by him and must not make a conditional tender. Partial tenders will not qualify for this preference. Th...
threshold = 100.... For purposes of the Offer, the term "Odd Lots" means all Shares properly tendered, in accordance with the procedures set forth in Section 2, by the Expiration Date at prices at or below the Purchase Price and not withdrawn, by or on behalf of stockholders ("Odd Lot Holders") who, on the date of tender, beneficially hold fewer than 100 Shares. As set forth above, Odd Lots will be accepted for purchase before any proration. In order to qualify for this preference, an Odd Lot Holder must properly tender at a price at or below the Purchase Price all Shares beneficially owned by him and must not make a conditional tender. Partial tenders will not qualify for this preference. This...
txn_type = TENDER_OFFEREX-99 4 schedtoex99201657_05202002.htm EXHIBIT 99(A)(5)(B) sec document Exhibit 99(a)(5)(B) This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares. The offer is made solely by the Offer to Purchase dated May 17, 2002 and the related Letter of Transmittal, and any amendments or supplements to the Offer to Purchase or Letter of Transmittal, which are being mailed to all holders of shares. Capitalized terms not defined in this announcement...
txn_type = TENDER_OFFEREX-99 3 schedtoa29901657_06042002.htm EXHIBIT 99(A)(1)(A) sec document Exhibit 99 (a)(1)(A) OFFER TO PURCHASE FOR CASH BY LONE STAR STEAKHOUSE & SALOON, INC. OF UP TO 4,000,000 SHARES OF COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $22.50 NOR LESS THAN $20.50 PER SHARE OUR OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT MIDNIGHT, NEW YORK CITY TIME, ON FRIDAY, JUNE 14, 2002, UNLESS OUR OFFER IS EXTENDED. WE...
txn_type = TENDER_OFFEREX-99.A.1.A 3 y60426ex99-a_1a.txt OFFER TO PURCHASE OFFER TO PURCHASE FOR CASH BY LONE STAR STEAKHOUSE & SALOON, INC. OF UP TO 4,000,000 SHARES OF COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $22.50 NOR LESS THAN $20.50 PER SHARE OUR OFFER, THE PRORATION PERIOD AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON FRIDAY, JUNE 14, 2002, UNLESS OUR OF...

The filings

FiledFormRoleOn EDGAR
2002-05-17SC TO-Ioriginal (governing)View
2002-05-20SC TO-I/AamendmentView
2002-06-04SC TO-I/AamendmentView