Tricon Residential Inc.
Terms unclear
Unclear — read the filing yourself
No closing date could be read from these filings. Nothing has been filed for this offer in over six months, so it is treated as closed — a tender offer cannot run that long. Check the filings below if you think otherwise.
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 (assumed) |
|---|---|
| Closing date | could not be read; last filing 2024-02-16 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Not stated |
| Must tick the odd-lot box on the form | Not stated |
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.
mechanism = DUTCH...r Overview and Mechanics Mechanics • Company selects a dealer manager, depository and information agent to assist with • After receipt of all tenders, management selects the price level which will permit the the offer purchase of the desired number of shares (if Dutch auction) and calculates a proration factor if needed • The Company, Company counsel, and dealer manager draft SIB circular, Schedule TO, Offer to Purchase, summary advertisement, press release, shareholder and – Company may buy more than the dollar amount or number of shares being broker letters tendered for (up to 2% of shares outstanding) with...
txn_type = TENDER_OFFER...ers, management selects the price level which will permit the the offer purchase of the desired number of shares (if Dutch auction) and calculates a proration factor if needed • The Company, Company counsel, and dealer manager draft SIB circular, Schedule TO, Offer to Purchase, summary advertisement, press release, shareholder and – Company may buy more than the dollar amount or number of shares being broker letters tendered for (up to 2% of shares outstanding) without extending the offer • The Company announces the proposed tender, files SIB circular with Canadian – All “odd lot” tenders (less than 100 shares...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2024-02-16 | SC 13E3 | original (governing) | View |