Odd Lot Index

SPORT HALEY INC

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 date2007-02-01
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 $4.80 to $5.30 per share, in steps of $0.10
Most an odd-lot tender could be$475.20 to $524.70

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...y shares, will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of these shares at or below the purchase price and do not properly withdraw them before the Expiration Time, and you complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery, we will purchase all of your shares without subjecting them to the proration procedure. See Section 1. Odd lot holders may specify only a single price for all of their shares or otherwise indicate their acceptance of the price determined by the Company in accordance with the terms...
election_required = True...y shares, will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of these shares at or below the purchase price and do not properly withdraw them before the Expiration Time, and you complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery, we will purchase all of your shares without subjecting them to the proration procedure. See Section 1. Odd lot holders may specify only a single price for all of their shares or otherwise indicate their acceptance of the price determined by the Company in accordance with the terms...
expiry = 2007-02-01...Offer to Purchase for Cash Up to 472,000 Shares of its Common Stock at a Purchase Price Not Greater Than $5.30 nor Less Than $4.80 Per Share THE TENDER OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON FEBRUARY 1, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Sport-Haley, Inc., a Colorado corporation (the “Company,” “we,” or “us”), is offering to purchase up to 472,000 shares of its Common Stock, no par value (the “Common Stock”), at a price not greater tha...
expiry = 2007-02-01...Offer to Purchase for Cash Up to 472,000 Shares of its Common Stock at a Purchase Price Not Greater Than $5.30 nor Less Than $4.80 Per Share THE TENDER OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON FEBRUARY 1, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Sport-Haley, Inc., a Colorado corporation (the “Company,” “we,” or “us”), is offering to purchase up to 472,000 shares of its Common Stock, no par value (the “Common Stock”), at a price not greater tha...
listed = True...sistance may be directed to Patrick W. Hurley, the Chief Financial Officer, Secretary and Treasurer of the Company. Addresses and telephone numbers for each of the Depositary and Mr. Hurley are set forth on the back cover of this Offer to Purchase. The shares are traded on the Nasdaq Global Market (“Nasdaq”) under the symbol “SPOR.” On December 26, 2006, the last full trading day before the announcement of the Tender Offer, the reported closing price of our Common Stock on Nasdaq was $4.10 per share. On December 29, 2006, the last full trading day before the commencement of the Tender Offer, the reported closing price of our Common...
listed = True...sistance may be directed to Patrick W. Hurley, the Chief Financial Officer, Secretary and Treasurer of the Company. Addresses and telephone numbers for each of the Depositary and Mr. Hurley are set forth on the back cover of this Offer to Purchase. The shares are traded on the Nasdaq Global Market (“Nasdaq”) under the symbol “SPOR.” On December 26, 2006, the last full trading day before the announcement of the Tender Offer, the reported closing price of our Common Stock on Nasdaq was $4.10 per share. On December 29, 2006, the last full trading day before the commencement of the Tender Offer, the reported closing price of our Common...
mechanism = DUTCH...nd a more complete discussion where helpful. Who is offering to purchase my shares? Sport-Haley, Inc. What will be the purchase price for the shares 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 lowest price that may be specified is $4.80. The prices that may be specified increase in increments of $0.10 up to $5.30, the highest price that may be specified. The price range for the Tender Offer is...
mechanism = DUTCH...nd a more complete discussion where helpful. Who is offering to purchase my shares? Sport-Haley, Inc. What will be the purchase price for the shares 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 lowest price that may be specified is $4.80. The prices that may be specified increase in increments of $0.10 up to $5.30, the highest price that may be specified. The price range for the Tender Offer is...
must_tender_all = True...elow the purchase price? If more than 472,000 shares are properly tendered at or below the purchase price and not properly withdrawn prior to the Expiration Time, we will purchase shares as follows: · first, all “odd lots” of less than 100 shares from holders who properly tender all of their shares at or below the purchase price determined in the Tender Offer and who do not properly withdraw them before the Expiration Time; · second, from all other stockholders who properly tender shares at or below the purchase price determined in the Tender Offer and who do not properly withdraw them before the Expiration Time, on a pro rata basi...
must_tender_all = True...elow the purchase price? If more than 472,000 shares are properly tendered at or below the purchase price and not properly withdrawn prior to the Expiration Time, we will purchase shares as follows: · first, all “odd lots” of less than 100 shares from holders who properly tender all of their shares at or below the purchase price determined in the Tender Offer and who do not properly withdraw them before the Expiration Time; · second, from all other stockholders who properly tender shares at or below the purchase price determined in the Tender Offer and who do not properly withdraw them before the Expiration Time, on a pro rata basi...
price = USD 4.8-5.3...shares. The lowest price that may be specified is $4.80. The prices that may be specified increase in increments of $0.10 up to $5.30, the highest price that may be specified. The price range for the Tender Offer is $4.80 to $5.30 per share. After the Tender Offer expires, we will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest purchase price that will allow us to buy 472,000 share...
price = USD 4.8-5.3...shares. The lowest price that may be specified is $4.80. The prices that may be specified increase in increments of $0.10 up to $5.30, the highest price that may be specified. The price range for the Tender Offer is $4.80 to $5.30 per share. After the Tender Offer expires, we will look at the prices chosen by stockholders for all of the shares properly tendered. We will then select the lowest purchase price that will allow us to buy 472,000 share...
threshold = 100...ons will apply to the greater number of shares. Odd Lots. The term “odd lots” means all shares properly tendered prior to the Expiration Time at prices at or below the purchase price determined in the Tender Offer and not properly withdrawn by any person (an “Odd Lot Holder”) who owns beneficially or of record fewer than 100 shares in the 15 aggregate 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 priority, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. Odd Lots will be accepted for pay...
threshold = 100...ons will apply to the greater number of shares. Odd Lots. The term “odd lots” means all shares properly tendered prior to the Expiration Time at prices at or below the purchase price determined in the Tender Offer and not properly withdrawn by any person (an “Odd Lot Holder”) who owns beneficially or of record fewer than 100 shares in the 15 aggregate 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 priority, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures described in Section 3. Odd Lots will be accepted for pay...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 a06-26630_1ex99da1a.htm EX-99 Exhibit 99.(a)(1)(A) SPORT-HALEY, INC. Offer to Purchase for Cash Up to 472,000 Shares of its Common Stock at a Purchase Price Not Greater Than $5.30 nor Less Than $4.80 Per Share THE TENDER OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON FEBRUARY 1, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Sport-Haley, Inc., a Colorado corporation (the “Company...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 a06-26630_1ex99da1a.htm EX-99 Exhibit 99.(a)(1)(A) SPORT-HALEY, INC. Offer to Purchase for Cash Up to 472,000 Shares of its Common Stock at a Purchase Price Not Greater Than $5.30 nor Less Than $4.80 Per Share THE TENDER OFFER, PRORATION PERIOD, AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON FEBRUARY 1, 2007, UNLESS THE TENDER OFFER IS EXTENDED. Sport-Haley, Inc., a Colorado corporation (the “Company...

The filings

FiledFormRoleOn EDGAR
2007-01-03SC TO-Ioriginal (governing)View
2007-01-12SC TO-I/AamendmentView