TODD SHIPYARDS CORP

election_required = True...elow) who: (1) tenders all shares owned beneficially or of record by the Odd Lot Holder at a price at or below the purchase price selected by us (tenders of less than all of the shares owned by the Odd Lot Holder will not qualify for this preference); and (2) completes the section entitled "Odd Lots" in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. -- 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 other shares tendered at prices at or below the purchase price in the following order: (1) shares which have been...

expiry = 2001-07-31...BY TODD SHIPYARDS CORPORATION OF UP TO 4,000,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $8.25 NOR LESS THAN $7.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JULY 31, 2001, UNLESS THE OFFER IS EXTENDED. Todd Shipyards Corporation, a Delaware corporation, invites its shareholders to tender up to 4,000,000 shares of its common stock, $0.01 par value per share, for purchase by it at a price not greater than $8....

mechanism = DUTCH...? We are Todd Shipyards Corporation. We are offering to purchase up to 4,000,000 shares of our common stock. WHAT WILL THE PURCHASE PRICE FOR THE SHARES BE AND WHAT WILL BE THE FORM OF PAYMENT? We are conducting the 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 this offer is $7.00 to $8.25 per share. We will select the lowest purchase price that will allow us to buy 4,000,000 shares or, if a lesser number of shares are properly tendered, all shar...

must_tender_all = True...ection 3. See Section 4. IN WHAT ORDER WILL TENDERED SHARES BE PURCHASED? First, we will purchase shares from all holders of "odd lots" of less than 100 shares (not including any shares held in our 401(k) Savings Investment Plan, which will not have priority) 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 tender 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, a...

price = USD 7.0-8.25...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 this offer is $7.00 to $8.25 per share. We will select the lowest purchase price that will allow us to buy 4,000,000 shares or, if a lesser number of shares are properly tendered, all shares that are properly tendered and not withdrawn. All shares...

threshold = 100...ereby increasing the number of shares and proceeding to a redetermination of the shares to be purchased by random lot selection. 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 (not including any shares held in our 401(k) Savings Investment Plan) 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 Odd Lot Holder in accordance with the procedures descr...

txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 c60761ex99-a1i.txt OFFER TO PURHASE 1 EXHIBIT 99(a)(1)(I) OFFER TO PURCHASE FOR CASH BY TODD SHIPYARDS CORPORATION OF UP TO 4,000,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $8.25 NOR LESS THAN $7.00 PER SHARE THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JULY 31, 2001, UNLESS THE OFFER IS EXTENDED. Todd Shipyards Corporation, a...