Coverdell ESA Account – Bought 425 ASAA

On Friday, October 22 I purchased 425 shares of ASA International LTD. (ASAA) for $4.55 a share. I plan on receiving $5.00 a share by the end of the year, because ASAA announced that it plans on doing a 1-for-600 reverse stock split and it will pay holders of less than 600 shares $5.00 per share in cash. You can read about the details of this low risk short term investment on ASA International’s proxy notice.

I will be focusing on arbitrage and special situation opportunities in my son’s Coverdell ESA. I will be posting more about these opportunities in the near future.

6 thoughts on “Coverdell ESA Account – Bought 425 ASAA

  • October 29, 2004 at 7:52 am
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    thanks for this find, what is the record of date to get the 5.00. is it too late to get in?

  • October 29, 2004 at 8:19 pm
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    Your thanks is appreciated. I don’t believe it is too late to get in on this deal, but you should read the proxy notice yourself to be sure. I provided a link to it above.

    The proxy stated that shareholders will be voting on this deal on November 12, so there is still the risk that the shareholders might not approve this “going private” transaction.

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