Sila Realty Trust, Inc. SILA
Odd lots go first
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 | 2024-07-19 |
| 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 | Not stated |
| Cleared at | $22.60 |
| Most an odd-lot tender could be | $2,237.40 |
How it finished
Odd-lot holder (under 100 shares)100%
| Expired | 2024-07-19 |
|---|---|
| Shares accepted | 2,212,389 |
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 = 2024-07-19...E UP TO $50.0 MILLION OF ITS SHARES OF OUTSTANDING COMMON STOCK FOR CASH AT A PURCHASE PRICE OF NOT GREATER THAN $24.00 OR LESS THAN $22.60 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JULY 19, 2024, UNLESS EXTENDED OR WITHDRAWN Dear Stockholder: Sila Realty Trust, Inc. (the “Company”) is offering to purchase shares of the Company’s common stock, par value $0.01 per share (“Shares” or “Common Stock”), for cash in an amount up to $50.0...
expiry = 2024-07-19...E UP TO $50.0 MILLION OF ITS SHARES OF OUTSTANDING COMMON STOCK FOR CASH AT A PURCHASE PRICE OF NOT GREATER THAN $24.00 OR LESS THAN $22.60 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JULY 19, 2024, UNLESS EXTENDED OR WITHDRAWN Dear Stockholder: Sila Realty Trust, Inc. (the “Company”) is offering to purchase shares of the Company’s common stock, par value $0.01 per share (“Shares” or “Common Stock”), for cash in an amount up to $50.0...
expiry = 2024-07-19...E UP TO $50.0 MILLION OF ITS SHARES OF OUTSTANDING COMMON STOCK FOR CASH AT A PURCHASE PRICE OF NOT GREATER THAN $24.00 OR LESS THAN $22.60 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON JULY 19, 2024, UNLESS EXTENDED OR WITHDRAWN Dear Stockholder: Sila Realty Trust, Inc. (the “Company”) is offering to purchase shares of the Company’s common stock, par value $0.01 per share (“Shares” or “Common Stock”), for cash in an amount up to $50.0...
listed = True...amendments or supplements thereto, collectively constitute the “Offer.” On June 13, 2024, our Shares were listed on the New York Stock Exchange (the “NYSE”) and began trading under the symbol “SILA”. Because June 13, 2024 is the first day on which the Shares traded on the NYSE, we cannot provide a market price for the Shares. Tendering stockholders whose Shares are accepted for payment will lose the opportunity to trade such Shares and the chance to participate in any future market upside and future growth of the Company with respect to such Shares. The trading price of our Shares on the NYSE may be higher or...
listed = True...amendments or supplements thereto, collectively constitute the “Offer.” On June 13, 2024, our Shares were listed on the New York Stock Exchange (the “NYSE”) and began trading under the symbol “SILA”. Because June 13, 2024 is the first day on which the Shares traded on the NYSE, we cannot provide a market price for the Shares. Tendering stockholders whose Shares are accepted for payment will lose the opportunity to trade such Shares and the chance to participate in any future market upside and future growth of the Company with respect to such Shares. The trading price of our Shares on the NYSE may be higher or...
listed = True...amendments or supplements thereto, collectively constitute the “Offer.” On June 13, 2024, our Shares were listed on the New York Stock Exchange (the “NYSE”) and began trading under the symbol “SILA”. Because June 13, 2024 is the first day on which the Shares traded on the NYSE, we cannot provide a market price for the Shares. Tendering stockholders whose Shares are accepted for payment will lose the opportunity to trade such Shares and the chance to participate in any future market upside and future growth of the Company with respect to such Shares. The trading price of our Shares on the NYSE may be higher or...
mechanism = DUTCH...the Company’s Common Stock following the listing. Overall, we believe that the Offer is a prudent use of our financial resources given our business profile, capital structure and assets and liabilities. As a way to further the dual purposes of the Offer, the modified “Dutch Auction” tender offer set forth in this Offer to Purchase represents an efficient mechanism to provide our stockholders who desire liquidity with the opportunity to tender Shares, while also providing a benefit to those stockholders who do not participate in the Offer, as such non-participants will automatically increase their relative percentag...
mechanism = DUTCH...the Company’s Common Stock following the listing. Overall, we believe that the Offer is a prudent use of our financial resources given our business profile, capital structure and assets and liabilities. As a way to further the dual purposes of the Offer, the modified “Dutch Auction” tender offer set forth in this Offer to Purchase represents an efficient mechanism to provide our stockholders who desire liquidity with the opportunity to tender Shares, while also providing a benefit to those stockholders who do not participate in the Offer, as such non-participants will automatically increase their relative percentag...
mechanism = DUTCH...the Company’s Common Stock following the listing. Overall, we believe that the Offer is a prudent use of our financial resources given our business profile, capital structure and assets and liabilities. As a way to further the dual purposes of the Offer, the modified “Dutch Auction” tender offer set forth in this Offer to Purchase represents an efficient mechanism to provide our stockholders who desire liquidity with the opportunity to tender Shares, while also providing a benefit to those stockholders who do not participate in the Offer, as such non-participants will automatically increase their relative percentag...
mechanism = FIXED...erein. The following information is provided pursuant to Rule 13e-4(c)(4): •The Company has received the final results of the Offer, which expired at 5:00 p.m., New York City Time, on July 19, 2024. •The Company has accepted for purchase 2,212,389 Shares at a purchase price of $22.60 per Share, for an aggregate purchase price of approximately $50 million, excluding fees and expenses relating to the Offer. The number of Shares that the Company has accepted to purchase in the Offer represents approximately 3.9% of the total number of Shares outstanding as of July 19, 2024. •Stockholders who properly tendered and did not properly...
must_tender_all = True...outstanding Shares as of June 3, 2024, and if the Purchase Price is equal to the highest price within our range, we could purchase up to 2,083,333 Shares representing approximately 3.6% of the outstanding Shares as of June 3, 2024. Additionally, stockholders who tender all of their Shares will give up the opportunity to participate in any future benefits from owning Shares including the right to any future dividends or distributions that we may pay. The Purchase Price per Share paid to tendering stockholders may be less than the total amount which might otherwise be received by stockholders at a later date. The purchase o...
must_tender_all = True...utstanding Shares as of June 3, 2024, and if the Purchase Price is equal to the highest price within our range, we could purchase up to 2,083,333 Shares representing approximately 3.6% of the outstanding Shares as of June 3, 2024. 5 Additionally, stockholders who tender all of their Shares will give up the opportunity to participate in any future benefits from owning Shares including the right to any future dividends or distributions that we may pay. The Purchase Price per Share paid to tendering stockholders may be less than the total amount which might otherwise be received by stockholders at a later date. The purchase o...
must_tender_all = True...utstanding Shares as of June 3, 2024, and if the Purchase Price is equal to the highest price within our range, we could purchase up to 2,083,333 Shares representing approximately 3.6% of the outstanding Shares as of June 3, 2024. 5 Additionally, stockholders who tender all of their Shares will give up the opportunity to participate in any future benefits from owning Shares including the right to any future dividends or distributions that we may pay. The Purchase Price per Share paid to tendering stockholders may be less than the total amount which might otherwise be received by stockholders at a later date. The purchase o...
price = USD 22.6...Company has received the final results of the Offer, which expired at 5:00 p.m., New York City Time, on July 19, 2024. •The Company has accepted for purchase 2,212,389 Shares at a purchase price of $22.60 per Share, for an aggregate purchase price of approximately $50 million, excluding fees and expenses relating to the Offer. The number of Shares that the Company has accepted to purchase in the Offer represents approximately 3.9%...
priority = True...e Offer by up to 2% of the outstanding Shares without amending or extending the Offer. Properly tendering Shares at $22.60 per Share assures you that at least a portion of your Shares will be purchased so long as we purchase Shares under the Offer (subject to provisions relating to “odd lot” priority and proration described herein). If you tender Shares at any of the other prices in the range, there is a possibility that none of those Shares will be purchased. Regardless of the prices at which you choose to tender Shares, all of the Shares purchased pursuant to the Offer will be purchased for the same price. If you tender Shares for...
priority = True...e Offer by up to 2% of the outstanding Shares without amending or extending the Offer. Properly tendering Shares at $22.60 per Share assures you that at least a portion of your Shares will be purchased so long as we purchase Shares under the Offer (subject to provisions relating to “odd lot” priority and proration described herein). If you tender Shares at any of the other prices in the range, there is a possibility that none of those Shares will be purchased. Regardless of the prices at which you choose to tender Shares, all of the Shares purchased pursuant to the Offer will be purchased for the same price. If you tender Shares for...
priority = True...e Offer by up to 2% of the outstanding Shares without amending or extending the Offer. Properly tendering Shares at $22.60 per Share assures you that at least a portion of your Shares will be purchased so long as we purchase Shares under the Offer (subject to provisions relating to “odd lot” priority and proration described herein). If you tender Shares at any of the other prices in the range, there is a possibility that none of those Shares will be purchased. Regardless of the prices at which you choose to tender Shares, all of the Shares purchased pursuant to the Offer will be purchased for the same price. If you tender Shares for...
threshold = 100...than $50.0 million in value of Shares are properly tendered and not properly withdrawn, we will purchase Shares on the following basis: •First, we will purchase all the Shares properly tendered at or below the Purchase Price and not properly withdrawn by any “odd lot holder” (a stockholder of fewer than 100 Shares) who tenders all of that holder’s Shares; and •Second, after the purchase of all the Shares properly tendered and not properly withdrawn by odd lot holders, we will purchase all other Shares properly tendered and not properly withdrawn at or below the Purchase Price, on a pro rata basis with appropriate adjustments to avoid the purchase...
threshold = 100...than $50.0 million in value of Shares are properly tendered and not properly withdrawn, we will purchase Shares on the following basis: •First, we will purchase all the Shares properly tendered at or below the Purchase Price and not properly withdrawn by any “odd lot holder” (a stockholder of fewer than 100 Shares) who tenders all of that holder’s Shares; and •Second, after the purchase of all the Shares properly tendered and not properly withdrawn by odd lot holders, we will purchase all other Shares properly tendered and not properly withdrawn at or below the Purchase Price, on a pro rata basis with appropriate adjustments to avoid the purchase...
threshold = 100...than $50.0 million in value of Shares are properly tendered and not properly withdrawn, we will purchase Shares on the following basis: •First, we will purchase all the Shares properly tendered at or below the Purchase Price and not properly withdrawn by any “odd lot holder” (a stockholder of fewer than 100 Shares) who tenders all of that holder’s Shares; and •Second, after the purchase of all the Shares properly tendered and not properly withdrawn by odd lot holders, we will purchase all other Shares properly tendered and not properly withdrawn at or below the Purchase Price, on a pro rata basis with appropriate adjustments to avoid the purchase...
txn_type = CONSOLIDATION...tendered at or below the Purchase Price may be purchased if more than $50.0 million in the aggregate value of Shares are properly tendered and not properly withdrawn. As of June 3, 2024, there were 57,216,477 Shares outstanding, as adjusted for a one-for-four reverse stock split effective May 1, 2024 (the “Reverse Split”). Unless otherwise stated, all figures herein reflect the Reverse Split. From time to time, we have published an estimated per share value of our Common Stock to assist broker dealers that sold our Shares in our initial and follow-on “best efforts” offering to comply with the rules published by...
txn_type = TENDER_OFFER...tendering stockholders of not greater than $24.00 or less than $22.60 per Share, net to the seller in cash, less any applicable withholding taxes and without interest. The Company’s offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 13, 2024 (the “Offer to Purchase”), and in the related Letter of Transmittal and Important Instructions and Information, copies of which were previously filed with the Schedule TO as Exhibits (a)(1)(A), (a)(1)(B) and (a)(1)(C), respectively (which together, as amended or supplemented from time to time, constitute the “Offer”)...
txn_type = TENDER_OFFER...tendering stockholders of not greater than $24.00 or less than $22.60 per Share, net to the seller in cash, less any applicable withholding taxes and without interest. The Company’s offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 13, 2024 (the “Offer to Purchase”), and in the related Letter of Transmittal and Important Instructions and Information, copies of which were previously filed with the Schedule TO as Exhibits (a)(1)(A), (a)(1)(B) and (a)(1)(C), respectively (which together, as amended or supplemented from time to time, constitute the “Offer”)...
txn_type = CONSOLIDATION...tendered at or below the Purchase Price may be purchased if more than $50.0 million in the aggregate value of Shares are properly tendered and not properly withdrawn. As of June 3, 2024, there were 57,216,477 Shares outstanding, as adjusted for a one-for-four reverse stock split effective May 1, 2024 (the “Reverse Split”). Unless otherwise stated, all figures herein reflect the Reverse Split. From time to time, we have published an estimated per share value of our Common Stock to assist broker dealers that sold our Shares in our initial and follow-on “best efforts” offering to comply with the rules published by...
txn_type = CONSOLIDATION...tendered at or below the Purchase Price may be purchased if more than $50.0 million in the aggregate value of Shares are properly tendered and not properly withdrawn. As of June 3, 2024, there were 57,216,477 Shares outstanding, as adjusted for a one-for-four reverse stock split effective May 1, 2024 (the “Reverse Split”). Unless otherwise stated, all figures herein reflect the Reverse Split. From time to time, we have published an estimated per share value of our Common Stock to assist broker dealers that sold our Shares in our initial and follow-on “best efforts” offering to comply with the rules published by...
txn_type = TENDER_OFFER...tendering stockholders of not greater than $24.00 nor less than $22.60 per Share, net to the seller in cash, less any applicable withholding taxes and without interest. The Company’s offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 13, 2024, as amended (the “Offer to Purchase”), and in the related Letter of Transmittal and Important Instructions and Information, copies of which were previously filed with the Schedule TO as Exhibits (a)(1)(A), (a)(1)(B) and (a)(1)(C), respectively (which together, as amended or supplemented from time to time, constitute...
txn_type = TENDER_OFFER...tendering stockholders of not greater than $24.00 nor less than $22.60 per Share, net to the seller in cash, less any applicable withholding taxes and without interest. The Company’s offer was made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 13, 2024, as amended (the “Offer to Purchase”), and in the related Letter of Transmittal and Important Instructions and Information, copies of which were previously filed with the Schedule TO as Exhibits (a)(1)(A), (a)(1)(B) and (a)(1)(C), respectively (which together, as amended or supplemented from time to time, constitute...
accepted = 2212389...wing information is provided pursuant to Rule 13e-4(c)(4): •The Company has received the final results of the Offer, which expired at 5:00 p.m., New York City Time, on July 19, 2024. •The Company has accepted for purchase 2,212,389 Shares at a purchase price of $22.60 per Share, for an aggregate purchase price of approximately $50 million, excluding fees and expenses relating to the Offer. The number of Shares that the Company has accepted to purchase in the Offer represents approximately 3.9% of the total number...
expired_on = 2024-07-19...and the Schedule TO is expressly incorporated by reference herein. The following information is provided pursuant to Rule 13e-4(c)(4): •The Company has received the final results of the Offer, which expired at 5:00 p.m., New York City Time, on July 19, 2024. •The Company has accepted for purchase 2,212,389 Shares at a purchase price of $22.60 per Share, for an aggregate purchase price of approximately $50 million, excluding fees and expenses relating to the Offer. The number of Shares that the Company has accepted to purchase in th...
final_price = 22.6...o Rule 13e-4(c)(4): •The Company has received the final results of the Offer, which expired at 5:00 p.m., New York City Time, on July 19, 2024. •The Company has accepted for purchase 2,212,389 Shares at a purchase price of $22.60 per Share, for an aggregate purchase price of approximately $50 million, excluding fees and expenses relating to the Offer. The number of Shares that the Company has accepted to purchase in the Offer represents approximately 3.9% of the total number of Shares outstanding as of July 19, 20...
oddlot_filled = YES...did not properly withdraw Shares in the Offer at the final purchase price of $22.60 per Share had approximately 42% of their tendered Shares purchased by the Company at $22.60 per Share (other than "odd lot" holders, whose shares of common stock were purchased in full on a priority basis). Computershare Trust Company, N.A., the depositary and paying agent for the Offer will issue payment for the Shares validly tendered and accepted for purchase in accordance with the terms and conditions of the Offer. Item 11. Additional Information. Item 11(...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2024-06-13 | SC TO-I | original (governing) | View |
| 2024-06-13 | SC TO-I/A | amendment | View |
| 2024-06-20 | SC TO-I/A | amendment | View |
| 2024-07-03 | SC TO-I/A | amendment | View |
| 2024-07-15 | SC TO-I/A | amendment | View |
| 2024-07-22 | SC TO-I/A | amendment | View |
| 2024-07-24 | SC TO-I/A | amendment | View |