Copart (CPRT) Tender Offer with Odd-Lot Provision (-2 to 6%)

Company: Copart
Ticker: CPRT
Market Cap: $4.6bn
Size of Action: up to ~7.3mm (~$283mm)
Type of Transaction: Tender Offer with Odd-Lot Provision
Current Price: $38.79
Exchange Price: $38.00-$41.00 (completed at $39.00)
Potential Gain (%): -2% to 5.7%
Expiration: 5pm December 23, 2015
Tender Limit (Shares): 99
Max Investment ($): $3,840
Max Gain ($): $220
Sec Filing: Link
Summary: Copart (CPRT) is offering to buy up to 7.3mm of its shares between $38.00 and $41.00.
Odd Lot Provision: ...first, from all holders of “odd lots” of fewer than 100 shares who properly tender all of their shares and do not properly withdraw them before the expiration of the Offer; ....
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