ITEX Corp (ITEX) Tender Offer with Odd-Lot ($30 gain)

Company: ITEX Corporation
Ticker: ITEX
Market Cap: ~$11mm
Size of Action: ~$3mm
Type of Transaction: Tender Offer with "Odd-Lot" Provision
Current Price: $3.70
Exchange Price: $4.00
Potential Gain (%): 8.1%
Expiration: Midnight April 15th, 2015
Tender Limit (Shares): 99
Max Investment ($): $366
Max Gain ($): ~$30
Sec Filing: Link
Summary: ITEX Corporation (ITEX) is offering to purchase up to 750k of its shares for $4.00 a share using its cash balance (which will cover the tender and all fees).
Odd Lots: ...first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares and do not properly withdraw them before the expiration date...
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