# Odd-Lot Tender Offers by Issuers
> **US Securities and Exchange Commission** · Final rule. · Published 1996-12-30 · 61 FR 68587
## Document
- **Document number:** 96-33061
- **Category:** final-rule
- **Agency:** US Securities and Exchange Commission
- **Federal Register citation:** 61 FR 68587
- **CFR reference:** 17 CFR 240
- **Publication date:** 1996-12-30
- **Docket:** Release Nos. 33-7376
## Abstract

The Securities and Exchange Commission (``Commission'') is adopting an amendment to Rule 13e-4 under the Securities Exchange Act of 1934 (``Exchange Act''). The amendment removes the rule's requirement that an issuer cash tender offer made to odd-lot holders specify a record date of ownership for eligibility to tender into the offer. The amendment enables issuers to conduct continuous, periodic, or extended odd-lot offers for their equity securities. The Commission also is granting a class exemption from Rule 10b-13, and a temporary class exemption from Rule 10b-6, under the Exchange Act to permit issuers to conduct odd-lot offers, to ``round-up'' odd-lots on behalf of odd-lot holders, and to make purchases of their securities otherwise than pursuant to the odd-lot offer.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1996/12/30/96-33061/odd-lot-tender-offers-by-issuers)
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