Odd Lot Index

OI CORP

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 date2007-07-24
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 $13.00 to $14.75 per share
Cleared at$14.50
Most an odd-lot tender could be$1,435.50

How it finished

Everyone else58.7%
Shares tendered508,794
Shares accepted301,080
Proration factor58.7%
Overall acceptance59.2%

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...below) who: • tenders all shares owned beneficially or of record by the odd lot holder at a price at or below the purchase price determined by us (tenders of less than all of the shares owned by the odd lot holder will not qualify for this preference); and • completes the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. • Second, after the purchase of all of the shares properly tendered by odd lot holders, 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 on a pro rata basis with appropriate adj...
expiry = 2007-07-24...ase for Cash by O. I. Corporation Up to 300,000 Shares of its Common Stock At a Purchase Price Not Greater Than $14.75 nor Less Than $13.00 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME, ON JULY 24, 2007 UNLESS THE OFFER IS EXTENDED. O. I. Corporation, an Oklahoma corporation, invites its shareholders to tender up to 300,000 shares of its common stock for purchase by it at a price not greater than $14.75 nor less than $13.00 per share, net...
listed = True...urchase more than 300,000 shares pursuant to this offer. See Section 1. This offer is not conditioned on any minimum number of shares being tendered. This offer, however, is subject to other conditions. See Section 7. Our shares of common stock are listed and traded on The Nasdaq Global Market under the symbol “OICO.” On June 8, 2007, the last full trading day before we first announced our intention to make the offer, the last reported sale price of the shares on The Nasdaq Global Market was $12.50. On June 19, 2007, the last full trading day before commencement of the offer, the last reported sale price was $13....
mechanism = DUTCH...ase more shares subject to applicable legal requirements. Our offer is not conditioned on any minimum number of shares being tendered by shareholders. See Section 1. WHAT IS THE PURCHASE PRICE? We are conducting the offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select a price within the price range specified by us at which you are willing to sell your shares. The price range for this offer is from $13.00 to $14.75 per share. We will determine the lowest single price per share within the price range that will allow us to buy 300,000 shares or, if fewer shares are p...
mechanism = DUTCH...Exhibit (a)(5)(iv) Investor Relations Bruce Lancaster / CEO & CFO NEWS RELEASE O.I. Corporation Announces Preliminary Results of Tender Offer College Station, Texas—August 13, 2007—O.I. Corporation (NASDAQ: OICO) announced today the preliminary results of its modified “Dutch Auction” tender offer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary for the tender offer, the Company expects to accept for purchase 300,000 shares, or approximately 10% of its currently outstanding...
mechanism = DUTCH...it (a)(5)(v) Investor Relations Bruce Lancaster / CEO & CFO NEWS RELEASE O.I. Corporation Announces Final Results of Tender Offer and Cash Dividend College Station, Texas—August 17, 2007—O.I. Corporation (NASDAQ: OICO) announced today the final results of its modified “Dutch Auction” self-tender offer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. The Company has accepted for purchase 301,080 shares, or approximately 10.3%, of its currently outstanding common stock at a purchase price of $14.50 per share, for an aggregate cost of $4,365,660 million. Of the shares to be purchased, 300,000...
must_tender_all = True...res or less are tendered, we will purchase all shares tendered. If more than 300,000 shares are tendered, we will purchase tendered shares in the following order of priority: First, we will purchase shares for all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us. Second, after purchasing all shares from the “odd lot” holders, we will purchase shares from all other shareholders who properly tendered shares at or below the purchase price selected by us, on a pro rata basis, subject to the conditional tender provisions described in Section 6. Therefore,...
price = USD 13.0-14.75...“Dutch Auction.” This procedure allows you to select a price within the price range specified by us at which you are willing to sell your shares. The price range for this offer is from $13.00 to $14.75 per share. We will determine the lowest single price per share within the price range that will allow us to buy 300,000 shares or, if fewer shares are properly tendered, all shares that are properly tendered and not withdrawn. Al...
price = USD 14.5...0 p.m., New York City time, on Monday, August 6, 2007. The Company has accepted for purchase 301,080 shares, or approximately 10.3%, of its currently outstanding common stock at a purchase price of $14.50 per share, for an aggregate cost of $4,365,660 million. Of the shares to be purchased, 300,000 represent shares selected as a result of the proration process and the 1,080 additional shares represent shares that would otherwise c...
threshold = 100...that a shareholder tenders in the offer may not be purchased even if they are 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 (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. To qualify for this preference, an odd lot holder must tender all shares owned by the holder in accordance with the procedures described in Section 3. We will accept odd lots for payment before any proration of...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 oi71177exa1i.htm EXHIBIT (A)(1)(I) Exhibit (a)(1)(i) Offer to Purchase for Cash by O. I. Corporation Up to 300,000 Shares of its Common Stock At a Purchase Price Not Greater Than $14.75 nor Less Than $13.00 Per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M. NEW YORK CITY TIME, ON JULY 24, 2007 UNLESS THE OFFER IS EXTENDED. O. I. Corporation, an Oklahoma corporation, invites...
txn_type = TENDER_OFFEREX-99.(A)(5)(IV) 2 dex99a5iv.htm PRESS RELEASE Press Release Exhibit (a)(5)(iv) Investor Relations Bruce Lancaster / CEO & CFO NEWS RELEASE O.I. Corporation Announces Preliminary Results of Tender Offer College Station, Texas—August 13, 2007—O.I. Corporation (NASDAQ: OICO) announced today the preliminary results of its modified “Dutch Auction” tender offer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the...
txn_type = TENDER_OFFEREX-99.(A)(5)(V) 2 dex99a5v.htm PRESS RELEASE Press Release Exhibit (a)(5)(v) Investor Relations Bruce Lancaster / CEO & CFO NEWS RELEASE O.I. Corporation Announces Final Results of Tender Offer and Cash Dividend College Station, Texas—August 17, 2007—O.I. Corporation (NASDAQ: OICO) announced today the final results of its modified “Dutch Auction” self-tender offer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. The Company has accepted for purchase 301,080 shares, or approximately 10.3%, of its curre...
accepted = 301080...poration (NASDAQ: OICO) announced today the final results of its modified “Dutch Auction” self-tender offer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. The Company has accepted for purchase 301,080 shares, or approximately 10.3%, of its currently outstanding common stock at a purchase price of $14.50 per share, for an aggregate cost of $4,365,660 million. Of the shares to be purchased, 300,000 represent shares selected as a result of the proration process and the 1,080 additional...
final_price = 14.5...fer, which expired at 5:00 p.m., New York City time, on Monday, August 6, 2007. The Company has accepted for purchase 301,080 shares, or approximately 10.3%, of its currently outstanding common stock at a purchase price of $14.50 per share, for an aggregate cost of $4,365,660 million. Of the shares to be purchased, 300,000 represent shares selected as a result of the proration process and the 1,080 additional shares represent shares that would otherwise constitute new ‘odd lots’ after the proration process and wil...
proration_pct = 58.7...pted due to the specified condition not being satisfied), 508,794 shares of common stock were properly tendered and not withdrawn at prices at or below $14.50 per share. The final results represent a proration factor equal to approximately 58.7%. In accordance with the terms of the tender offer, proration for each holder that properly tendered and did not withdraw will be the product of the number of shares tendered by such holder multiplied by the proration factor, subject to the ‘odd lot’ priority and conditional tend...
tendered = 508794...ed by the Company. Based on the final count from the depositary for the tender offer (and excluding any conditional tenders that were not accepted due to the specified condition not being satisfied), 508,794 shares of common stock were properly tendered and not withdrawn at prices at or below $14.50 per share. The final results represent a proration factor equal to approximately 58.7%. In accordance with the terms of the tender offer, proration for each holder that properly tendered and did not withdraw will be the product of t...

The filings

FiledFormRoleOn EDGAR
2007-06-20SC TO-Ioriginal (governing)View
2007-08-14SC TO-I/AamendmentView
2007-08-17SC TO-I/AamendmentView