Mastech Holdings, Inc. MHH
No odd-lot preference
Read automatically from the filing
This offer mentions odd lots only to say they get no special treatment. Odd-lot tenders are prorated like everyone else's.
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 | 2012-03-07 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Not stated |
| Price offered | USD $4.65 to $5.50 per share, in steps of $0.05 |
| Most an odd-lot tender could be | $460.35 to $544.50 |
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 = 2012-03-07...Offer to Purchase for Cash up to 608,000 Shares of its Common Stock at a Purchase Price Not in Excess of $5.50 Per Share Nor Less than $4.65 Per Share THE OFFER WITHDRAWAL RIGHTS AND PRORATION PERIOD WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME, ON WEDNESDAY, March 7, 2012 UNLESS THE OFFER IS EXTENDED. Mastech Holdings, Inc., a Pennsylvania corporation (“Mastech,” “Company,” “we,” “us,” or “our”), is offering to purchase up to 608,000 shares of its common stock at a price neither in excess of $5.50 nor less...
listed = True...tailed discussion of the tax treatment of our offer. We urge you to consult with your tax advisor as to the particular tax consequences to you of our offer. What is the market value of my shares as of a recent date? • Our shares of common stock are listed and traded on the NYSE Amex under the symbol “MHH.” On February 6, 2012, the last trading day prior to the announcement of our offer, the closing price per share of our common stock on the NYSE Amex was $4.57. • We urge you to obtain a current market quotation for your shares before deciding whether to tender your shares. See Section 8. Will I have to pay brok...
mechanism = DUTCH...ing day prior to the announcement of our offer, the low end of the price range, $4.65 per share, is greater than $4.57, the closing price per share of our common stock on the NYSE Amex. We are conducting our offer through a procedure commonly called a “modified” Dutch auction. This procedure enables you to choose a price within a price range at which you are willing to sell your shares. • We will review the prices chosen by shareholders who have properly tendered their shares. We will then select the lowest price that will enable us to buy 608,000 shares. If a lesser number of shares are tendered, we will sel...
must_tender_all = True...of our shares as margin securities. We caution readers that the important factors, including without limitation the price at which we ultimately determine to purchase shares in the offer, the number of shares tendered in the offer, the number of shareholders who tender all of their shares of our common stock in the offer, general market conditions and other factors discussed in other documents filed by us with the Securities and Exchange Commission, among others, could cause our actual results to differ materially from statements contained in this offer to purchase. Forward-looking statements are not guarantees of future...
no_priority = True..., including the proration and conditional tender provisions described below. If more than 608,000 shares are tendered at or below the purchase price we select, then shares tendered at or below the purchase price, other than shares to purchase from holders of “odd lots,” will be subject to proration as set forth in “Proration” below. See Section 5 for a more detailed description of our purchase of and payment for tendered shares. All shares we purchase will be purchased at the same price, even if you have specified a lower price. However, we will not purchase any shares tendered at a price above the purchase price we select using th...
price = USD 4.65-5.5...tech Holdings, Inc., a Pennsylvania corporation. We are offering to purchase up to 608,000 shares of our outstanding common stock, See Section 1. What is the purchase price? • The price range for our offer is $4.65 to $5.50 per share. As of February 6, 2012, the last trading day prior to the announcement of our offer, the low end of the price range, $4.65 per share, is greater than $4.57, the closing price per share of our common stock on...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 d294400dex99a1a.htm OFFER TO PURCHASE Offer to Purchase Exhibit (a)(1)(A) Offer to Purchase for Cash up to 608,000 Shares of its Common Stock at a Purchase Price Not in Excess of $5.50 Per Share Nor Less than $4.65 Per Share THE OFFER WITHDRAWAL RIGHTS AND PRORATION PERIOD WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME, ON WEDNESDAY, March 7, 2012 UNLESS THE OFFER IS EXTENDED....
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2012-02-07 | SC TO-I | original (governing) | View |