Advant-E (ADVC) quick update

It looks like the arbitrage trade discussed previously is off the table.

http://www.dailymarkets.com/stock/2012/12/13/advant-e-corporation-announces-update-on-reverseforward-stock-split/

DAYTON, Ohio, Dec. 13, 2012 /PRNewswire/ – Advant-e Corporation (OTCQB: ADVC) today announced that its Board of Directors has determined that it is in the best interest of the Company and its shareholders to abandon its reverse and forward stock splits announced on November 5, 2012.

This action is being taken due to the timing of the special dividend announced on December 12, 2012, delays in obtaining regulatory review and approval, and other factors.  The Company remains committed to the voluntary suspension of its public reporting obligations, which it intends to achieve as soon as practical.

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Advant-e Corporation (ADVC) / Arbitrage opportunity

From the press release, Advant-e has announced that it is essentially doing a tender offer for odd lots (anything not divisible by 10,000 shares) for $0.27 a share.  As of today, ADVC was trading between 23 and 27 cents a share.  I actually got filled today at 23 cents with Interactive Brokers (I placed my order on the weekend before I knew about the press release).