Fortress Investment Group (FIG) Tender Offer (0-11% Gain)

Company: Fortress Investment Group
Ticker: FIG
Market Cap: $918mm
Size of Action: $100mm
Type of Transaction: Dutch Auction Tender Offer with Odd-Lot Provision
Current Price: $4.26
Exchange Price: $4.25-$4.75 (RESULT: $4.75)
Potential Gain (%): 0%-11% (RESULT: 11%)
Expiration: March 4th at 11:59pm
Tender Limit (Shares): 99
Max Investment ($): $421 per investment account
Max Gain ($): $48.50 per investment account
Sec Filing: Link
Summary: Fortress Investment Group (FIG) is buying ~11% of its shares oustanding between $4.25 to $4.75 by March 4th.
Source of Funds: FIG has $338mm of cash on hand to fully fund the tender offer.
Odd Lot Provision: ...properly tenders and does not properly withdraw all Shares owned by the Odd Lot Holder at or below the Purchase Price (tenders of less than all of the Shares owned by an Odd Lot Holder will not qualify for this preference); ...
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