DYSL Tender

A few days ago DYSL put out a tender offer to buy back 54% of their common at $2.49.  I first wrote up the stock at $0.81 and my portfolio has been ugly recently so it feels great to have a win.  

I'm not sure yet what to do so let's run through some scenarios.

NoName Annual Performance 2021-2022

This was a year of the ball bouncing the wrong way.  I am up 1.4%, giving me a 43.8% CAGR since I bought my first stock 9 years ago.  

You can read my past annual performance posts here.  

DYSL's De-List is Working

For all my negativity and rants towards companies de-registering from the SEC, sometimes it does help operations.  It definitely saves them money and enables them to spend more time on the business.  

The real risk is communication.  If they cut the world off the stock can drop to nothing but as long as they keep talking good things can happen.  

Dynasil (DYSL) de-registered from the SEC in the fall of 2019 with the hope of saving $900k per year.  They filed their last 10k in Dec 2019 and told shareholders to only expect an annual report moving forward.  A week ago they put out the report and the numbers back up their motivation for de-registering.

Catching the DYSL de-Reg Drop

Dynasil (DYSL) de-registered from the SEC a few weeks ago, moving from the NASDAQ to OTC Pink.  To file the de-reg they bought out all shareholders holding less than 8k shares for $1.15, dropping common outstanding by 16%.  The company estimates a $900k annual savings from not filing with the SEC yet market cap has dropped by 35% from the day before they announced their intention.  Seems like an overreaction to me.