Odd Lot Tenders

Odd lot tenders favor the small investor in that they only work for small sums of money.

An odd lot tender is when a company announces that they are going to buy back X amount of shares, but will prioritize those shares held by investors who hold less than 100 shares.

It is not guaranteed that your shares will be bought back by the company if you tender over 99 shares. However, if an odd lot provision exists, the company guarantees that they will purchase your 99 shares (or less) from you, ultimately resulting in a potentially high return in a relatively short amount of time.

Below is a list of odd lot tenders we have posted about in the past:

  1. Twin River Worldwide Holdings Inc Modified Dutch Auction Tender Offer

Closed Publications:

TickerTypeExpiration DatePurchase PriceTender PriceRealized Return
TRWHModified Dutch7/25/2019 $      27.43 $29.507.5%

Odd Lot Tender Watchlist:

TickerTypeExpiration DateMin. PriceMarket Price
CZZModified Dutch9/25/2019$12.00$13.59
MSGNModified Dutch9/27/2019$15.00$16.00