Wednesday, August 15, 2012

Surmodics, Inc. Dutch Tender

This is my first time in participating in a Dutch auction tender offer. Yesterday, I picked up 99 shares of Surmodics, Inc. (Ticker: SRDX) at $17.58 and tendered the shares with a “no bid”. The company is buying back $55 million worth of stock with a price range of $17 to $19. There is an odd lot priority so all odd lot tenders will be sold at the final tender price. I’m looking at a final tender price of more than $18.00.


At August 15, 2012, Anonymous Jay said...

Hey Money Turtle, love the site, was just wondering how do you find tender offers? Is it certain google key words or searching the SEC files?

At August 15, 2012, Blogger Money Turtle said...

I use Google for a quick search using key words such as "self tender month year", "dutch tender month year", "closed end ..." etc... Once I find something interesting I'll read up on the tender on the SEC site. Of course you can also search the SEC site for tenders, but that can take some time.

Fat Pitch Financial blog offers a service listing special situations. I have not used it, but have heard it's pretty good.

Thanks for reading my blog... And Good Luck!

At August 16, 2012, Anonymous Anonymous said...

See just have advanced financing not committed and shares up +18%. Shows how optimistic the market currently is.

At August 16, 2012, Blogger Money Turtle said...

I've been keeping an eye on VQ, but I will pass for now. Still too much risk. They basically don't have the $$$ yet. They should have gotten the financing wrapped up in the beginning.


Post a Comment

<< Home