CRA International (CRAI) Dutch Tender Offer with Odd-Lot Provision (currently not very profitable)

Company: CRA International Inc.
Ticker: CRAI
Market Cap: $178mm
Size of Action: up to $30mm
Type of Transaction: Tender Offer with Odd-Lot Provision
Current Price: $19.80
Exchange Price: $18.00-$19.75
Potential Gain (%): 0.25% at current price
Expiration: 5pm March 21, 2016
Tender Limit (Shares): 99
Max Investment ($): $1,960
Max Gain ($): $5
Sec Filing: Link
Summary: CRA International (CRAI) is purchasing up to $30mm of its shares between $18.00 and $19.75.
Source of Funds: Cash on hand of $38mm and $123mm of revolving credit facility.
Odd Lot Provision: ...First, we will purchase all shares tendered by all holders of "odd lots" (fewer than 100 shares)....
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