MPSI SYSTEMS INC
Terms unclear
Unclear — read the filing yourself
No closing date could be read from these filings. Nothing has been filed for this offer in over six months, so it is treated as closed — a tender offer cannot run that long. Check the filings below if you think otherwise.
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.
amendment with no indexed original - the original may predate the collection window or may not mention odd lots
| Status | Closed (assumed) |
|---|---|
| Closing date | could not be read; last filing 2004-06-10 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
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.
mechanism = DUTCH...dentified and (b) MPSI provides very limited financial information to that market maker (much less than standard 10Q / K reports). In addition to this trading option as an interim exit strategy for some shareholders, MPSI also proposes to periodically sponsor a “Dutch Auction” wherein MPSI would commit a specified amount of cash to buy back its shares from shareholders. Shareholders would submit their asking price and MPSI would buy back the lowest “bid-priced” shares up to the stated cash commitment amount each time. Hopefully these interim exit strategies would provide some liquidity to shareholders until m...
txn_type = CONSOLIDATION...ld all be classified as one shareholder of record. MPSI presently has almost 900 stockholders of record, but many of such holders are former employees who were gifted 20 shares many years ago as part of an incentive / recognition plan. Because of a subsequent reverse split in 1993, those shares are now reflected as 2 shares by our transfer agent. MPSI proposes to initiate a reverse stock split upon approval of a majority of the shareholders (represented by three Board members if they all agree). A reverse split of 1 for 100 or 1 for 250 (not yet fully researched) would reduce the number of stockholders of...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2004-06-10 | SC 13E3/A | amendment (governing) | View |