St. Joe Company (JOE) Odd-Lot Tender ($60 Gain)

Company: St. Joe Company
Ticker: JOE
Market Cap: $1.6bn
Size of Action: ~$300mm
Type of Transaction: Tender Offer with Odd-Lot Provision
Current Price: $17.38
Exchange Price: $18.00
Potential Gain (%): 3.6%
Expiration: 5pm September 22nd, 2015
Tender Limit (Shares): 99
Max Investment ($): $1,720
Max Gain ($): ~$60
Sec Filing: Link
Summary: St. Joe (JOE) is offering to purchase up to 16.6mm of its shares at $18.00 per share.
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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