Thursday, September 06, 2012

Surmodics Dutch Tender Results

Surmodics, Inc. (Ticker: SRDX) announced the preliminary results of the Dutch tender offer. The final tender price will be $19.00, which is the top end of the price range. This was more of an experiment to see how the Dutch tender offer works. I’ll end up making a net gain of 8% over a 31 day period (assuming a payout a week from today). I only purchased 99 shares so I’ll be just lunch money, but it was a good learning experience. The proration factor was 97.8% so I could have loaded up on Surmodics and generated a nice annualized return of ~ 92%, but it’s difficult to predict what the proration factor will be.


At September 07, 2012, Anonymous Anonymous said...

Nice one! Good experience. Hope there will be more of those in the future. Keep up the good work, David

At September 11, 2012, Blogger Money Turtle said...

Thanks, it's a constant learning experience. Hopefully, we'll find more of these...


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