RENT A CENTER INC DE UPBD
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.
| Status | Closed |
|---|---|
| Closing date | 2003-06-19 |
| 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 $60.00 to $66.00 per share, in steps of $0.25 |
| Most an odd-lot tender could be | $5,940.00 to $6,534.00 |
How it finished
| Shares tendered | 2,200,000 |
|---|
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...ockholders should be aware that this election could mean that none of their shares will be purchased if they check a box other than the box representing the price at or below the purchase price. IN ADDITION, ODD LOT HOLDERS WHO TENDER ALL OF THEIR SHARES 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. STOCKHOLDERS HOLDING THEIR SHARES THROUGH A BROKER, DEALER, COMMERCIAL BANK, TRUST COMPANY OR OTHER NOMINEE MUST CONTACT THE NOMINEE IN ORDER TO TENDER THEIR SHARES. STOCKHOLDERS WHO HOLD SHARES THROUGH NOMINEES ARE URGED TO CONSULT THEIR NO...
expiry = 2003-06-05...Y RENT-A-CENTER, INC. OF UP TO 2,200,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $66.00 NOR LESS THAN $60.00 PER SHARE THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON THURSDAY, JUNE 5, 2003, UNLESS THE TENDER OFFER IS EXTENDED. We invite our stockholders to tender up to 2,200,000 shares of our common stock, $0.01 par value per share, for purchase by us at a price not greater than $66.00 nor less than $60.00 per share, net to...
expiry = 2003-06-19...PURCHASE EXHIBIT (a)(1)(vii) SUPPLEMENT TO THE OFFER TO PURCHASE FOR CASH BY RENT-A-CENTER, INC. OF UP TO 2,200,000 SHARES OF ITS COMMON STOCK THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON THURSDAY, JUNE 19, 2003, UNLESS THE TENDER OFFER IS EXTENDED. Rent-A-Center, Inc., a Delaware corporation (the "Company," "we" or "us") by this Supplement (the "Supplement") amends and supplements its offer to purchase shares of its common stock originally made u...
listed = True...We have agreed to purchase shares at the final tender offer price from Apollo Investment Fund IV, L.P. and Apollo Overseas Partners IV, L.P. on the eleventh business day following the consummation of the tender offer. See Section 12. Our shares are listed and traded on The Nasdaq National Market under the symbol "RCII." On April 24, 2003, the last full trading day prior to the announcement of our intention to commence the tender offer, the last reported sale price of our shares was $59.22 per share. Stockholders are urged to obtain current market quotations for the shares before deciding whether and at what purch...
listed = True...m price based on the market price and other considerations at that time. SUMMARY -- WHAT IS THE RECENT MARKET PRICE OF MY SHARES? On June 5, 2003, the last full trading day prior to the announcement of our intention to extend and reprice the tender offer, the last reported sale price of our shares on The Nasdaq National Market was $71.41 per share. SUMMARY -- WHAT ARE THE UNITED STATES FEDERAL INCOME TAX CONSEQUENCES IF I TENDER MY SHARES? The Jobs and Growth Tax Relief Reconciliation Act of 2003 was signed into law on May 28, 2003. This Act, effective January 1, 2003, generally provides that "qualified dividend income" received by individual s...
mechanism = DUTCH...1. The tender offer is not conditioned on any minimum number of shares being tendered. See Section 7. WHAT WILL THE PURCHASE PRICE FOR THE SHARES BE AND WHAT WILL BE THE FORM OF PAYMENT? We are conducting the tender offer through a procedure commonly called a modified "Dutch Auction." This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $66.00 per share. We will select the lowest purchase price that will allow us to buy 2,200,000 shares or, if fewer shares are properly tendered, all shares th...
mechanism = DUTCH...rticipants in Our 401(k) Plan. (a)(5)(i) Press Release, dated April 25, 2003, Rent-A-Center, Inc. Announces Plan to Refinance Its Senior Debt and Repurchase Shares. (a)(5)(ii) Press Release, dated April 25, 2003, Rent-A-Center, Inc. Announces Plans to Conduct Modified Dutch Auction Tender Offer. (a)(5)(iii) Press Release, dated April 28, 2003, Rent-A-Center, Inc. Announces Commencement of Its Modified Dutch Auction Tender Offer. (a)(5)(iv) Form of Summary Advertisement. (a)(5)(v) Press Release, dated May 1, 2003, Rent-A-Center, Inc. to Issue $300 Million of Senior Subordinated Notes due 2010 at 7.5% Interest. (a)(5...
must_tender_all = True...ipants in Our 401(k) Plan" sent to them separately. See Section 4. IN WHAT ORDER WILL YOU PURCHASE THE TENDERED SHARES? We will purchase shares: - first, from all holders of "odd lots" of less than 100 shares (not including any shares held in our 401(k) Plan) who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; - second, after purchasing the shares from the "odd lot" holders, from all other stockholders (including participants in our 401(k) Plan) who properly tender shares at or below the purchase price selected by us, on a pro rata basis...
must_tender_all = True...le law), from holders who have tendered shares conditionally (for which the condition was not initially satisfied) by random lot, to the extent feasible. To be eligible for purchase by random lot, stockholders whose shares are conditionally tendered must have tendered all of their shares. 3. The first sentence under the paragraph "Summary - When and how will you pay me for the shares I tender?" is amended by changing the phrase "as soon as practicable" to "promptly". Item 4. Terms of the Transaction. 1. The second and third bullet points under the heading "Introduction" are amended as follows: o second, after purchasing...
must_tender_all = True...shares you have tendered to us. SUMMARY -- IN WHAT ORDER WILL YOU PURCHASE THE TENDERED SHARES? We will purchase shares in the following order: - first, from all holders of "odd lots" of less than 100 shares (not including any shares held in our 401(k) Plan) who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; - second, after purchasing the shares from the "odd lot" holders, from all other stockholders who properly tender shares at or below the purchase price selected by us (including participants in our 401(k)Plan and stockholders who t...
price = USD 60.0-66.0...re commonly called a modified "Dutch Auction." This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $66.00 per share. We will select the lowest purchase price that will allow us to buy 2,200,000 shares or, if fewer shares are properly tendered, all shares that are properly tendered and not properly withdrawn. We will purchas...
price = USD 60.0-66.0...d not properly withdrawn. This price will be not greater than $73.00 per share nor less than $67.00 per share, net to the seller in cash, without interest. The range of prices was from $60.00 to $66.00 per share prior to the amendment of the Offer. We have extended the expiration date of the tender offer from 5:00 p.m., New York City time, on Thursday, June 5, 2003 to 12:00 midnight, New York City time, on Thursday, June 19, 20...
threshold = 100...en though those shares were tendered at prices at or below the purchase price. Odd Lots. For purposes of the tender offer, the term "odd lots" means all shares properly tendered at prices at or below the purchase price selected by us held by a stockholder, an Odd Lot Holder, who owns beneficially or of record an aggregate of fewer than 100 shares (not including any shares held in our 401(k) Plan) and so certifies in the appropriate place on the related Letter of Transmittal. To qualify for this preference, an Odd Lot Holder must tender all shares owned beneficially or of record by the Odd Lot Holder 10 in accordance with the procedures described in Section 3. As set forth above,...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 3 d05239exv99wxayx1yxiy.txt OFFER TO PURCHASE, DATED APRIL 28, 2003 EXHIBIT (A)(1)(I) OFFER TO PURCHASE FOR CASH BY RENT-A-CENTER, INC. OF UP TO 2,200,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $66.00 NOR LESS THAN $60.00 PER SHARE THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON THURSDAY, JUNE 5, 2003...
txn_type = TENDER_OFFER...a price not greater than $66.00 nor less than $60.00 per share, net to the seller in cash, without interest, as specified by stockholders tendering their shares. Rent-A-Center's offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated April 28, 2003, and in the related Letter of Transmittal, which, as amended or supplemented from time to time, together constitute the tender offer. This Amendment No. 3 amends and supplements the Statement on Schedule TO originally filed on April 28, 2003, and amended in certain respects on May 2 and May 6, 2003. This Amendment No...
txn_type = TENDER_OFFEREX-99.(A)(1)(VII) 3 d06496a7exv99wxayx1yxviiy.txt SUPPLEMENT TO THE OFFER TO PURCHASE EXHIBIT (a)(1)(vii) SUPPLEMENT TO THE OFFER TO PURCHASE FOR CASH BY RENT-A-CENTER, INC. OF UP TO 2,200,000 SHARES OF ITS COMMON STOCK THE TENDER OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, NEW YORK CITY TIME, ON THURSDAY, JUNE 19, 2003, UNLESS THE TENDER OFFER IS EXTENDED. Rent-A-Center, Inc., a Delaware...
tendered = 2200000...the results of the tender offer: [ ] SCHEDULE TO/A This Amendment No. 3 to Tender Offer Statement on Schedule TO relates to the offer by Rent-A-Center, Inc., a Delaware corporation, to purchase up to 2,200,000 shares, or such lesser number of shares as are properly tendered, of its common stock, $0.01 par value per share, at a price not greater than $66.00 nor less than $60.00 per share, net to the seller in cash, without interest, as specified by stockholders tendering their shares. Rent-A-Center's offer is being made upon the terms and subject to...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2003-04-28 | SC TO-I | original (governing) | View |
| 2003-05-09 | SC TO-I/A | amendment | View |
| 2003-06-09 | SC TO-I/A | amendment | View |