Renren Inc. MTBLY
Not traded — nothing to buy
Read automatically from the filing
The filing says these shares are not traded on any market. The odd-lot term may be real, but there is no way to buy the shares, so there is no trade here.
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 | 2015-04-29 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Yes |
| Price offered | USD $2.40 to $2.75 per share, in steps of $0.05 |
| Most an odd-lot tender could be | $237.60 to $272.25 |
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...yholders should be aware that this election could mean that none of their ADSs will be purchased if they check a box other than the box representing the price at or below the Final Purchase Price. In addition, odd lot holders who tender all of their ADSs must complete the section entitled “Odd Lots” in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders as set forth in Section 1. Securityholders holding their ADSs through a broker, dealer, commercial bank, trust company or other nominee must contact the nominee in order to tender their ADSs. Securityholders who hold ADSs through nominees are urged to consult their no...
expiry = 2015-04-29...Purchase Price, ADSs having an aggregate value of less than $50 million are properly tendered and not properly withdrawn, we will buy all ADSs properly tendered and not properly withdrawn. The term “Expiration Date” means 12:00 midnight, New York City time, at the end of Wednesday, April 29, 2015, unless and until we, in our sole discretion in accordance with applicable law, shall have extended the period of time during which the Offer will remain open, in which event the term “Expiration Date” shall refer to the latest time and da...
mechanism = DUTCH...ermined that the Offer was the most effective way to realize the aims of the share repurchase program. The Offer constitutes a part of the $100 million share repurchase program that we announced on June 28, 2014, and not an addition to it. We believe that the modified “Dutch auction” tender offer set forth in this Offer to Purchase represents an efficient mechanism to provide our securityholders with the opportunity to tender all or a portion of their ADSs and, thereby, receive a return of some or all of their investment if they so elect. The Offer provides securityholders (particularly those who, because of the siz...
must_tender_all = True...onditionally tendered (for which the condition was not initially satisfied) at or below the Final Purchase Price, by random lot, to the extent feasible. To be eligible for purchase by random lot, securityholders whose ADSs are conditionally tendered must have tendered all of their ADSs. Therefore, it is possible that we will not purchase all of the ADSs that you tender even if you tender them at or below the Final Purchase Price. See Section 1. Following the Offer, will you continue as a public company? Yes. It is a condition of our obligation to purchase ADSs pursuant to the Offer that, as a result of the consummation...
price = USD 2.4-2.75...fied “Dutch auction.” This procedure allows you to select the price (in increments of $0.05), within a price range specified by us, at which you are willing to sell your ADSs. The price range for the Offer is $2.40 to $2.75 per ADS. We will select the lowest purchase price (in increments of $0.05), not greater than $2.75 nor less than $2.40 per ADS, that will allow us to purchase $50 million in value of ADSs, based on the number of ADSs te...
threshold = 100...ect to applicable law. If we do so, the preceding provisions will apply to the greater value. Odd Lots. For purposes of the Offer, the term “odd lots” means all ADSs properly tendered at prices at or below the Final Purchase Price held by a securityholder who owns beneficially or of record an aggregate of fewer than 100 ADSs, which we refer to as an “odd lot holder,” and so certifies in the appropriate place on the Letter of Transmittal and, if applicable, the Notice of Guaranteed Delivery. To qualify for this preference, 12 an odd lot holder must tender all ADSs owned beneficially or of record by the odd lot holder in accordance with the procedures describe...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 v405738_exh99xa1i.htm EXHIBIT (A)(1)(I) Exhibit (a)(1)(i) Offer to Purchase for Cash By RENREN INC. Of Up to $50 Million in Value of its American Depositary Shares At a Purchase Price Not Greater than $2.75 per American Depositary Share Nor Less Than $2.40 per American Depositary Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, AT THE END OF WEDNESDAY, AP...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2015-04-02 | SC TO-I | original (governing) | View |