Columbia Property Trust, Inc Odd Lot Tender

Posted on October 16, 2013 by admin
  • Company: Columbia Property Trust, Inc.
  • Ticker: CXP
  • Market Cap: $3.0B
  • Size of Action: $300mm
  • Type of Transaction: Tender Offer
  • Current Price: $22.42
  • Exchange Price: $22.00-25.00
  • Potential Gain (%): -1.9% to 11.5%
  • Expiration: 11:59 p.m., New York City time, on November 8, 2013
  • Tender Limit (Shares): 99
  • Max Investment ($): $2,200
  • Max Gain ($): $255
  • Sec Filing: http://www.sec.gov/Archives/edgar/data/1252849/000119312513395960/d598048dex99a1a.htm
  • Summary: Columbia Property Trust, Inc., a Maryland corporation that has elected to be taxed as a real estate investment trust (a “REIT”) for U.S. federal income tax purposes (the “Company”, “we”, or “us”), hereby offers to purchase for cash up to $300,000,000 in value of shares of its common stock, par value $0.01 per share (“Common Stock”), at a price specified by the tendering stockholders of not greater than $25.00 nor less than $22.00 per share of Common Stock, net to the seller in cash, less any applicable withholding taxes and without interest.
  • Odd Lots: ..."first, we will purchase all shares of Common Stock tendered by any Odd Lot Holder (as defined below)"...
  • Notes: Tender for $22.00 if you are going to exit the investment post-tender. Every investor will get taken out at the same purchase price and your 99 shares will not have a material effect on the outcome. $22.00 ensures you will not have to sell the stock yourself afterwards and you will avoid additional market risk.
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