Frontera Energy Corp T.FEC

I'm not even sure if I Qualify to Tender my shares, my

[CrazyTrader]

broker is still looking into the situation.   As I mentioned before, no RECORD DATE, has been mentioned.    Does this mean I can buy on October 17 and still Tender?    Seems a little crazy.   

Anyways, I'm just playing for fun, using it as a learning experience. 

Pretty CRAZY that my broker still doesn't know who can tender their shares.

[a2bman]

yes you can buy on oct 17 and still tender. but you will probably only get 4% of whatever you have into this deal. Theyve already lined up most of the full amount to be tendered the rest is us retail so we probably get somewhere around 4% depending on how much retail subscirbes

[CrazyTrader]

sorry a2bman, I still don't have a clue about your 4%

[a2bman]

if you tender 100 shares you will get 4 shares sold at 12.  Does that help

[CrazyTrader]

No, where does the 4% come from?

[a2bman]

OMG 4% is the Issuer bid - 3.375MM shares out of +80MM float.

[CrazyTrader]

That's just crazy.   If only one person tenders, and that person tenders 3.375MM shares.  100% of their shares will be taken for $12, not only 4%.

[a2bman]

Yes that is correct

[a2bman]

Look the funds are going to oversubscibe, we'll only get 4% sold at $12, but I would take more.  Dont let the funds take your little 4% and scoop it up.

[CrazyTrader]

Look, if everyone tenders, all 80+ Million shares..... If you tender 100 shares, you're not getting 4% (4 shares taken for $12).

[CrazyTrader]

sorry, my mistake.  I get it now.  

[CrazyTrader]

If only one person tenders, and they tender 4 million shares, 3.375 Million shares will be taken for $12.   It won't be 100% but it's certainly more than 4% in this "over subscribed" situation. 

[a2bman]

thats correct as well.  They would still have 625000 shares left. This is what the funds will do