UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Information to be Included in Statements Filed Pursuant to § 240.13d-1(a) and
Amendments Thereto Filed Pursuant to § 240.13d-2(a)
Under the Securities Exchange Act of 1934
(Amendment No. )*
Blyth, Inc.
(Name of Issuer)
Common Stock, par value $0.02 per share
(Title of Class of Securities)
09643P207
(CUSIP Number)
Jeffrey Ferguson
The Carlyle Group
1001 Pennsylvania Avenue, NW
Suite 220 South
Washington, D.C. 20004-2505
(202) 729-5626
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
October 13, 2015
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
13D
CUSIP No. 09643P207 | Page 1 of 21 Pages |
1 | Names of reporting persons
The Carlyle Group L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Delaware limited partnership) |
13D
CUSIP No. 09643P207 | Page 2 of 21 Pages |
1 | Names of reporting persons
Carlyle Group Management L.L.C. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
OO (Delaware limited liability company) |
13D
CUSIP No. 09643P207 | Page 3 of 21 Pages |
1 | Names of reporting persons
Carlyle Holdings II GP L.L.C. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
OO (Delaware limited liability company) |
13D
CUSIP No. 09643P207 | Page 4 of 21 Pages |
1 | Names of reporting persons
Carlyle Holdings II L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Québec | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Québec société en commandite) |
13D
CUSIP No. 09643P207 | Page 5 of 21 Pages |
1 | Names of reporting persons
TC Group Cayman Investment Holdings, L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Cayman Islands | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Cayman Islands exempt limited partnership) |
13D
CUSIP No. 09643P207 | Page 6 of 21 Pages |
1 | Names of reporting persons
TC Group Cayman Investment Holdings Sub L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Cayman Islands | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Cayman Islands exempt limited partnership) |
13D
CUSIP No. 09643P207 | Page 7 of 21 Pages |
1 | Names of reporting persons
Carlyle Equity Opportunity GP, L.L.C. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
OO (Delaware limited liability company) |
13D
CUSIP No. 09643P207 | Page 8 of 21 Pages |
1 | Names of reporting persons
Carlyle Equity Opportunity GP, L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Delaware limited partnership) |
13D
CUSIP No. 09643P207 | Page 9 of 21 Pages |
1 | Names of reporting persons
Carlyle U.S. Equity Opportunity Fund, L.P. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
PN (Delaware limited partnership) |
13D
CUSIP No. 09643P207 | Page 10 of 21 Pages |
1 | Names of reporting persons
CB Shine Holdings, L.L.C. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
OO (Delaware limited liability company) |
13D
CUSIP No. 09643P207 | Page 11 of 21 Pages |
1 | Names of reporting persons
CB Shine Merger Sub, Inc. | |||||
2 | Check the appropriate box if a member of a group (a) ¨ (b) ¨
| |||||
3 | SEC use only
| |||||
4 | Source of funds
OO | |||||
5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ¨
| |||||
6 | Citizenship or place of organization
Delaware | |||||
Number of shares beneficially owned by each reporting person with
|
7 | Sole voting power
0 | ||||
8 | Shared voting power
12,193,935.9 | |||||
9 | Sole dispositive power
0 | |||||
10 | Shared dispositive power
12,193,935.9 | |||||
11 |
Aggregate amount beneficially owned by each reporting person
12,193,935.9 | |||||
12 | Check if the aggregate amount in Row (11) excludes certain shares ¨
| |||||
13 | Percent of class represented by amount in Row (11)
75.6% | |||||
14 | Type of reporting person
CO |
13D
CUSIP No. 09643P207 | Page 12 of 21 Pages |
Item 1. | Security and Issuer |
This statement on Schedule 13D (Schedule 13D) relates to the common stock, par value $0.02 per share (the Common Stock), of Blyth, Inc., a Delaware corporation (the Issuer), whose principal executive offices are located at 59 Armstrong Road, Plymouth, Massachusetts 02360.
Item 2. | Identity and Background |
This statement is being filed by the following persons (each a Reporting Person and, collectively, the Reporting Persons):
Carlyle Group Management L.L.C.,
The Carlyle Group L.P.,
Carlyle Holdings II GP L.L.C.,
Carlyle Holdings II L.P.,
TC Group Cayman Investment Holdings, L.P.,
TC Group Cayman Investment Holdings Sub L.P.,
Carlyle Equity Opportunity GP, L.L.C.,
Carlyle Equity Opportunity GP, L.P.,
Carlyle U.S. Equity Opportunity Fund, L.P. (Sponsor),
CB Shine Holdings, LLC (Shine Holdings) and
CB Shine Merger Sub, Inc. (Merger Sub)
Each of Carlyle Group Management L.L.C., The Carlyle Group, L.P., Carlyle Holdings II GP L.L.C., Carlyle Equity Opportunity GP, L.L.C., Carlyle Equity Opportunity GP, L.P., Carlyle U.S. Equity Opportunity Fund, L.P., Shine Holdings and Merger Sub is organized in the state of Delaware. Carlyle Holdings II L.P. is a Québec société en commandite. TC Group Cayman Investment Holdings, L.P. and TC Group Cayman Investment Holdings Sub L.P. are organized under the laws of the Cayman Islands.
The address of the principal business and principal office of TC Group Cayman Investment Holdings, L.P. and TC Group Cayman Investment Holdings Sub L.P. is c/o Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands. The address of the principal business and principal office of each of the other Reporting Persons is c/o The Carlyle Group, 1001 Pennsylvania Ave., N.W., Suite 220 South, Washington, DC 20004-2505.
The Reporting Persons are principally engaged in the business of investments in securities.
The directors of Carlyle Group Management L.L.C. are William E. Conway, Jr., Daniel A. DAniello, David M. Rubenstein, Jay S. Fishman, Lawton W. Fitt, James H. Hance, Jr., Janet Hill, Edward J. Mathias, Dr. Thomas S. Robertson, and William J. Shaw (collectively, the Directors).
The executive officers of Carlyle Group Management L.L.C. and The Carlyle Group L.P. are William E. Conway, Jr., Co-Chief Executive Officer, Daniel A. DAniello, Chairman,
13D
CUSIP No. 09643P207 | Page 13 of 21 Pages |
David M. Rubenstein, Co-Chief Executive Officer, Jeffrey W. Ferguson, General Counsel, Curtis L. Buser, Chief Financial Officer and Glenn A. Youngkin, President & Chief Operating Officer (collectively, the Executive Officers, and, together with the Directors, the Related Persons). Each of the Related Persons is a citizen of the United States.
The present principal occupation of each of the Directors is as follows: William E. Conway, Jr., Co-Chief Executive Officer and Co-founder of The Carlyle Group; Daniel A. DAniello, Chairman and Co-founder of The Carlyle Group; Jay S. Fishman, Chairman and Chief Executive Officer of The Travelers Companies, Inc.; Lawton W. Fitt, Director of Carlyle Group Management L.L.C.; James H. Hance, Jr., Director of Carlyle Group Management L.L.C.; Janet Hill, Principal of Hill Family Advisors; Edward J. Mathias, Managing Director of The Carlyle Group; Dr. Thomas S. Robertson, Dean of the Wharton School at the University of Pennsylvania; David M. Rubenstein, Co-Chief Executive Officer and Co-founder of The Carlyle Group; William J. Shaw, Director of Carlyle Group Management L.L.C. The business address of each of the Related Persons is c/o The Carlyle Group, 1001 Pennsylvania Ave., N.W., Suite 220 South, Washington, DC 20004-2505.
During the last five years, none of the Reporting Persons or Related Persons (i) has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. | Source and Amount of Funds or Other Consideration |
Merger Sub acquired the securities reported herein for aggregate cash consideration of approximately $73,000,000 pursuant to a tender offer commenced under the Merger Agreement (as defined below). The total amount of funds required to consummate the Offer and the Merger (each as defined below) is approximately $98,000,000.
The source of funds for the acquisition of the Issuer was provided by an equity contribution by Shine Holdings to Merger Sub. Shine Holdings obtained such funds from Sponsor, which in turn obtained such funds from capital contributions from its partners.
Item 4. | Purpose of Transaction |
Merger Agreement and Tender Offer
On August 30, 2015, Shine Holdings and Merger Sub entered into an Agreement and Plan of Merger (the Merger Agreement) with the Issuer. Pursuant to the Merger Agreement, among other things, on September 14, 2015, Merger Sub commenced a tender offer (the Offer) to acquire all of the outstanding Common Stock at a price per share of $6.00 (the Offer Price), in cash without interest, subject to any deduction or withholding of taxes required by applicable law, upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 14, 2015 (as amended or supplemented, the Offer to Purchase), and in the related Letter of Transmittal (the Letter of Transmittal and, together with the Offer to Purchase, the Offer).
13D
CUSIP No. 09643P207 | Page 14 of 21 Pages |
The Offer expired at 11:59 p.m., New York City time, on October 13, 2015 and Merger Sub accepted for payment an aggregate of 12,193,935.9 shares of Common Stock of the Issuer, which includes 443,997 shares of Common Stock tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase, representing approximately 75.6 percent of the outstanding shares of Common Stock of the Issuer, that were validly tendered and not properly withdrawn pursuant to the Offer.
On October 14, 2015, Merger Sub was merged with and into the Issuer (the Merger), with the Issuer surviving the Merger as a direct wholly-owned subsidiary of Shine Holdings. Immediately following the merger, Shine Holdings was the direct owner of 100 percent of the issued and outstanding Common Stock.
As a result of the Merger, each share of Common Stock outstanding immediately prior to the effective time of the Merger was cancelled and ceased to exist and (other than shares held by Shine Holdings, Merger Sub or the Issuer or their subsidiaries or by stockholders who exercise appraisal rights under, and in accordance with, Delaware law) converted in the Merger into the right to receive $6.00 per share, without interest thereon and less any applicable withholding taxes. Further, upon the consummation of the Merger:
| the directors of Merger Sub immediately prior to the effective time of the Merger became the directors of the surviving corporation; |
| the officers of the Issuer immediately prior to the effective time of the Merger became the officers of the surviving corporation and thereafter were replaced by newly appointed officers; |
| the certificate of incorporation and bylaws of the Issuer were amended and restated pursuant to the provisions of the Merger Agreement so as to read in their entirety as the certificate of incorporation and bylaws of Merger Sub as in effect immediately prior to the effective time of the Merger (except the references to Merger Subs name was replaced by references to the surviving corporation and certain other minor changes were made); and |
| the certificate of merger was filed with the Secretary of State of the State of Delaware. |
Following the effective time of the Merger:
| The shares of Common Stock of the Issuer ceased to trade on the New York Stock Exchange (the NYSE) and a Form 25 was filed with the SEC to delist the shares of Common Stock of the Issuer from the NYSE and to seek termination of the shares of Common Stock of the Issuer from registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the Exchange Act); and |
| a Form 15 [was][will be] filed with the SEC to seek termination of the shares of Common Stock of the Issuer from registration under Section 12(g) and Section 15(d) of the Exchange Act. |
13D
CUSIP No. 09643P207 | Page 15 of 21 Pages |
It is expected that, following the Merger, the business and operations of the surviving corporation will be continued substantially as the business and operations of the Issuer were being conducted prior to the Merger. Shine Holdings intends to continue to evaluate the business and operations of the surviving corporation after the consummation of the Offer and the Merger and will take such additional actions as they deem appropriate under the circumstances then existing with a view to enhancing the development of the surviving corporation.
Support Agreement
In connection with the execution and delivery of the Merger Agreement, Shine Holdings and Merger Sub entered into a tender and support agreement with certain stockholders of the Issuer (the Supporting Stockholders), dated as of August 30, 2015 (the Support Agreement). Pursuant to the Support Agreement, the Supporting Stockholders agreed to tender all shares of the Common Stock beneficially owned by them (the Subject Shares) in the Offer and otherwise support the transactions described above. The Supporting Stockholders, which included directors and officers of the Issuer, beneficially owned in the aggregate approximately 39% of the Issuers outstanding shares of Common Stock.
General
The foregoing descriptions of the Merger Agreement, the Support Agreement, the Offer to Purchase and the Letter of Transmittal do not purport to be complete and are qualified in their entirety by reference to the full text of such agreements filed as exhibits to this Schedule 13D, and incorporated herein by reference.
The primary purpose of the transactions described above is for Shine Holdings, through Merger Sub, to acquire all of the outstanding shares of Common Stock. Upon consummation of the transactions described above, the Issuer will become a wholly-owned subsidiary of Shine Holdings and the Common Stock will cease to be freely traded or listed and will be de-registered under the Securities Act of 1933, as amended.
The Reporting Persons may, at any time and from time to time, retain or sell all or a portion of the securities then held, in the open market or in privately negotiated transactions. In addition, the Reporting Persons or their designees to the Issuers board of directors may engage in discussions with management, the board of directors, and shareholders of the Issuer and other relevant parties or encourage such persons to consider or explore extraordinary corporate transactions, such as: a merger; sales or acquisitions of assets or businesses; changes to the capitalization or dividend policy of the Issuer; or other material changes to the Issuers business or corporate structure.
Any actions the Reporting Persons might undertake will be dependent upon the Reporting Persons review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuers business, financial condition, operations and prospects; price levels of the Issuers securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments.
13D
CUSIP No. 09643P207 | Page 16 of 21 Pages |
Other than as described above, none of the Reporting Persons or Related Persons currently has any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Persons or Related Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.
Item 5. | Interest in Securities of the Issuer |
(a) (b)
The following sets forth the aggregate number of shares and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition of immediately prior to the Merger on October 14, 2015, based on 16,138,413 shares of Common Stock outstanding as of October 13, 2015.
Reporting Person |
Amount beneficially owned |
Percent of class |
Sole power to vote or to direct the vote |
Shared power to vote or to direct the vote |
Sole power to dispose or to direct the disposition of |
Shared power to dispose or to direct the disposition of |
||||||||||||||||||
Carlyle Group Management L.L.C. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
The Carlyle Group L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
Carlyle Holdings II GP L.L.C. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
Carlyle Holdings II L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
TC Group Cayman Investment Holdings, L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
TC Group Cayman Investment Holdings Sub L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
Carlyle Equity Opportunity GP, L.L.C. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
Carlyle Equity Opportunity GP, L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
Carlyle U.S. Equity Opportunity Fund, L.P. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
CB Shine Holdings, LLC |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 | |||||||||||||||||
CB Shine Merger Sub, Inc. |
12,193,935.9 | 75.6 | % | 0 | 12,193,935.9 | 0 | 12,193,935.9 |
13D
CUSIP No. 09643P207 | Page 17 of 21 Pages |
The securities beneficially owned by the Reporting Persons are held of record by Merger Sub. Carlyle Group Management L.L.C. is the general partner of The Carlyle Group L.P., which is a publicly traded entity listed on NASDAQ. The Carlyle Group L.P. is the managing member of Carlyle Holdings II GP L.L.C., which is the general partner of Carlyle Holdings II L.P., which is the general partner of TC Group Cayman Investment Holdings, L.P., which is the general partner of TC Group Cayman Investment Holdings Sub L.P., which is the managing member of Carlyle Equity Opportunity GP, L.L.C., which is the general partner of Carlyle Equity Opportunity GP, L.P., which is the general partner of Carlyle U.S. Equity Opportunity Fund, L.P., which is the managing member of Shine Holdings, which is the sole shareholder of Merger Sub. Accordingly, each of the foregoing entities may be deemed to share beneficial ownership of the shares of common stock owned of record by Merger Sub.
Following the Merger, on October 14, 2015, Shine Holdings was the direct owner of 100 percent of the issued and outstanding Common Stock. At such time, each of Shine Holdings and the other Reporting Persons, except for Merger Sub which ceased to exist following the Merger, has the shared power to vote and dispose of 100 percent of the issued and outstanding Common Stock.
Except as set forth in this Item 5(a)-(b), each of the persons named in this Item 5(a)-(b) disclaims beneficial ownership of any Common Stock owned beneficially or of record by any other person named in this Item 5(a)-(b).
(c) Except as described above pursuant to the Offer and the Merger Agreement, during the past 60 days none of the Reporting Persons or Related Persons has effected any transactions in the Common Stock.
(d) None.
(e) Not Applicable.
Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Item 4 above summarizes certain provisions of the Merger Agreement, the Support Agreement, the Offer to Purchase and the Letter of Transmittal and is incorporated herein by reference. A copy of each of these agreements is filed as an exhibit to this Schedule 13D, and each is incorporated herein by reference.
Except as set forth herein, none of the Reporting Persons or Related Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including, but not limited to, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.
13D
CUSIP No. 09643P207 | Page 18 of 21 Pages |
Item 7. | Materials to be Filed as Exhibits |
Exhibit |
Description | |
1 | Joint Filing Agreement | |
2 | Power of Attorney | |
3 | Agreement and Plan of Merger, dated as of August 30, 2015, CB Shine Holdings, LLC, CB Shine Merger Sub, Inc. and Blyth, Inc. (incorporated by reference to Exhibit 2.1 to the Issuers Current Report on Form 8-K filed on August 31, 2015). | |
4 | Tender and Support Agreement, dated as of August 30, 2015, among CB Shine Holdings, LLC, CB Shine Merger Sub, Inc. and certain stockholders of Blyth, Inc. party thereto. | |
5 | Offer to Purchase, dated as of September 14, 2015 (incorporated herein by reference to Exhibit (a)(1)(A) to the Schedule TO filed by CB Shine Merger Sub, Inc. and CB Shine Holdings, LLC with the SEC on September 15, 2015). | |
6 | Form of Letter of Transmittal, dated as of September 14, 2015 (incorporated herein by reference to Exhibit (a)(1)(B) to the Schedule TO filed by CB Shine Merger Sub, Inc. and CB Shine Holdings, LLC with the SEC on September 15, 2015). |
13D
CUSIP No. 09643P207 | Page 19 of 21 Pages |
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: October 22, 2015
CARLYLE GROUP MANAGEMENT L.L.C. | ||
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
THE CARLYLE GROUP L.P. | ||
By: | Carlyle Group Management L.L.C., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE HOLDINGS II GP L.L.C. | ||
By: | The Carlyle Group L.P., its managing member | |
By: | Carlyle Group Management L.L.C., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE HOLDINGS II L.P. | ||
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
TC GROUP CAYMAN INVESTMENT HOLDINGS, L.P. | ||
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman |
13D
CUSIP No. 09643P207 | Page 20 of 21 Pages |
TC GROUP CAYMAN INVESTMENT HOLDINGS SUB L.P. | ||
By: | TC Group Cayman Investment Holdings, L.P., its general partner | |
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE EQUITY OPPORTUNITY GP, L.L.C. | ||
By: | TC Group Cayman Investment Holdings Sub L.P., its managing member | |
By: | TC Group Cayman Investment Holdings, L.P., its general partner | |
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE EQUITY OPPORTUNITY GP, L.P. | ||
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person | |
CARLYLE U.S. EQUITY OPPORTUNITY FUND, L.P. | ||
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person | |
CB SHINE HOLDINGS, LLC | ||
By: | Carlyle U.S. Equity Opportunity Fund, L.P., its managing member | |
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person |
13D
CUSIP No. 09643P207 | Page 21 of 21 Pages |
CB SHINE MERGER SUB, INC. | ||
By: | CB Shine Holdings, LLC, its sole shareholder | |
By: | Carlyle U.S. Equity Opportunity Fund, L.P., its managing member | |
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person |
Exhibit 1
JOINT FILING AGREEMENT
The undersigned hereby agree that they are filing this statement jointly pursuant to Rule 13d-1(k)(1). Each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.
In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other on behalf of each of them of such a statement on Schedule 13D with respect to the Common Stock beneficially owned by each of them of Blyth, Inc. This Joint Filing Agreement shall be included as an exhibit to such Schedule 13D.
IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing Agreement as of the 22nd day of October, 2015.
CARLYLE GROUP MANAGEMENT L.L.C. | ||
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
THE CARLYLE GROUP L.P. | ||
By: | Carlyle Group Management L.L.C., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE HOLDINGS II GP L.L.C. | ||
By: | The Carlyle Group L.P., its managing member | |
By: | Carlyle Group Management L.L.C., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE HOLDINGS II L.P. | ||
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman |
TC GROUP CAYMAN INVESTMENT HOLDINGS, L.P. | ||
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
TC GROUP CAYMAN INVESTMENT HOLDINGS SUB L.P. | ||
By: | TC Group Cayman Investment Holdings, L.P., its general partner | |
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE EQUITY OPPORTUNITY GP, L.L.C. | ||
By: | TC Group Cayman Investment Holdings Sub L.P., its managing member | |
By: | TC Group Cayman Investment Holdings, L.P., its general partner | |
By: | Carlyle Holdings II L.P., its general partner | |
By: | /s/ Andrea Pekala, attorney-in-fact | |
Name: | Daniel DAniello | |
Title: | Chairman | |
CARLYLE EQUITY OPPORTUNITY GP, L.P. | ||
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person | |
CARLYLE U.S. EQUITY OPPORTUNITY FUND, L.P. | ||
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person |
CB SHINE HOLDINGS, LLC | ||
By: | Carlyle U.S. Equity Opportunity Fund, L.P., its managing member | |
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person | |
CB SHINE MERGER SUB, INC. | ||
By: | CB Shine Holdings, LLC, its sole shareholder | |
By: | Carlyle U.S. Equity Opportunity Fund, L.P., its managing member | |
By: | Carlyle Equity Opportunity GP, L.P., its general partner | |
By: | /s/ Andrea Pekala | |
Name: | Andrea Pekala | |
Title: | Authorized Person |
Exhibit 2
POWER OF ATTORNEY
The undersigned understands that, from time to time, the Carlyle Companies (defined below) are required to prepare, execute and file certain federal and state securities laws filings.
Know all by these presents, that the undersigned hereby constitutes and appoints each of Curt Buser, Jeff Ferguson, David Pearson, Catherine Ziobro, R. Rainey Hoffman, Joanne Cosiol, Monica Harris, Jeremy Anderson, Bruno De Gusmao, Ann Siebecker, Andrea Pekala, Tom Mayrhofer, Orit Mizrachi, John Beczak, Rick Kappler, Matt LoRusso, Rob Konigsberg, James Sloan, Anne Frederick, Norma Kuntz, Victoria Jong, Erica Herberg or any of them signing singly, and with full power of substitution, the undersigneds true and lawful attorney-in-fact to:
(1) prepare, execute in the name of each Carlyle Company and on behalf of each Carlyle Company, and submit to the U.S. Securities and Exchange Commission (the SEC) a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the SEC of Forms D (Form D) required to be filed in accordance with Rule 503 (Rule 503) promulgated with respect to Sections 4(2), 4(6) and 3(b) of the Securities Act of 1933 (the 1933 Act) and reports required by Sections 13(d) and 16(a) of the Securities Exchange Act of 1934 (the 1934 Act) or any rule or regulation of the SEC;
(2) prepare and execute for and on behalf of each Carlyle Company, in the undersigneds capacity as a Chairman, authorized person, officer and/or director of each Carlyle Company, federal and state securities laws filings including without limitation Forms D pursuant to Rule 503 and Schedules 13D and 13G and Forms 3, 4, and 5 in accordance with Sections 13(d) and 16(a) of the 1934 Act and the rules thereunder;
(3) do and perform any and all acts for and on behalf of each Carlyle Company which may be necessary or desirable to complete and execute any such federal and state securities laws filings including without limitation Forms D, Schedules 13D and 13G and Forms 3, 4, and 5, complete and execute any amendment or amendments thereto, and timely file such form with the SEC and the securities administrators of any state, the District of Columbia, the Commonwealth of Puerto Rico, Guam and the United States Virgin Islands or their designees and any stock exchange or similar authority; and
(4) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-facts discretion.
The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-facts substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted, whether the same needs to be executed, taken or done by him in his capacity as a current or former member, partner, shareholder, director or officer of any company, partnership, corporation, organization, firm, branch or other entity connected with, related to or affiliated with any of the entities constituting the Carlyle Companies or entities that directly or indirectly hold interests in the Carlyle Companies.
The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming any of the undersigneds responsibilities to comply with federal and state securities laws, including without limitation Rule 503 of the 1933 Act or Section 13 and Section 16 of the 1934 Act.
This Power of Attorney and all authority conferred hereby shall not be terminated by operation of law, whether by the death or incapacity of the undersigned or by occurrence of any other event. Actions taken by an attorney-in-fact pursuant to this Power of Attorney shall be as valid as if any event described in the preceding sentence had not occurred, whether or not the attorney-in-fact shall have received notice of such event. Notwithstanding the foregoing, (i) in the event that an attorney-in-fact is no longer employed by The Carlyle Group Employee Co., L.L.C. or its affiliates, this Power of Attorney and all authority conferred hereby shall be immediately terminated with respect to such Attorney, and (ii) the undersigned may terminate or revoke this Power of Attorney at any time.
For purposes hereof, the Carlyle Companies shall consist of: (i) Carlyle Group Management L.L.C., The Carlyle Group L.P., Carlyle Holdings I GP Inc., Carlyle Holdings I GP Sub L.L.C., Carlyle Holdings I L.P., Carlyle Holdings II GP L.L.C., Carlyle Holdings II L.P., Carlyle Holdings III GP Management L.L.C., Carlyle Holdings III GP L.P., Carlyle Holdings III GP Sub L.L.C., Carlyle Holdings III L.P., TC Group Sub L.P., TC Group Investment Holdings Sub L.P., TC Group Cayman Investment Holdings Sub L.P., TC Group Cayman Sub L.P. and (ii) the subsidiaries and affiliates of the foregoing in clause (i), including without limitation investment funds sponsored directly or indirectly by one or more of the Carlyle Companies.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 7th day of May, 2012.
/s/ Daniel A. DAniello | ||
Name: | Daniel A. DAniello | |
Title: | Chairman |
Exhibit 4
TENDER AND SUPPORT AGREEMENT
This TENDER AND SUPPORT AGREEMENT (this Agreement), dated as of August 30, 2015, is entered into by and among CB Shine Holdings, LLC, a Delaware limited liability company (Parent), CB Shine Merger Sub, Inc., a Delaware corporation and a Subsidiary of Parent (Merger Sub), and each of the persons set forth on Schedule A hereto (each, a Stockholder). All terms used but not otherwise defined in this Agreement shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below).
WHEREAS, as of the date hereof, each Stockholder is the record and/or beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of the number of shares of Company Common Stock set forth opposite such Stockholders name on Schedule A (all such shares of Company Common Stock, together with any shares of Company Common Stock that are hereafter issued to or otherwise directly or indirectly acquired or beneficially owned by such Stockholder prior to the Termination Date (as defined below) (collectively After-Acquired Shares), being referred to herein as the Subject Shares of such Stockholder);
WHEREAS, concurrently with the execution hereof, Parent, Merger Sub and Blyth, Inc., a Delaware corporation (the Company), are entering into an Agreement and Plan of Merger, dated as of the date hereof (as it may be amended pursuant to the terms thereof, the Merger Agreement), which provides, among other things, for Merger Sub to commence an offer to purchase all the outstanding shares of Company Common Stock and for the Merger of the Company and Merger Sub, upon the terms and subject to the conditions set forth in the Merger Agreement; and
WHEREAS, as a condition to their willingness to enter into the Merger Agreement, and as an inducement and in consideration for Parent and Merger Sub to enter into the Merger Agreement, each Stockholder has agreed to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows:
ARTICLE I
AGREEMENT TO TENDER AND VOTE
1.1. Agreement to Tender. Subject to the terms of this Agreement, unless the Merger Agreement has been validly terminated in accordance with its terms, each Stockholder hereby agrees to accept the Offer with respect to all the Subject Shares of such Stockholder and tender or cause to be tendered in the Offer all of such Stockholders Subject Shares that such Stockholder is permitted to tender under applicable Law pursuant to and in accordance with the terms of the Offer, free and clear of all Share Encumbrances (as defined below) except for Permitted Share Encumbrances (as defined below). Without limiting the generality of the foregoing, as promptly as practicable after, but in no event later than ten (10) Business Days after, the commencement (within the meaning of Rule 14d-2 under the Exchange Act) of the Offer (or in the case of any After-Acquired Shares directly or indirectly issued to or acquired or otherwise beneficially owned by such Stockholder subsequent to such tenth (10th)
Business Day, or in each case if such Stockholder has not received the Offer Documents by such time, no later than two (2) Business Days after the acquisition of such After-Acquired Shares or receipt of the Offer Documents, as the case may be), each Stockholder shall deliver pursuant to the terms of the Offer (a) a letter of transmittal (together with all other documents or instruments required to be delivered by Company stockholders pursuant to such letter) with respect to all of such Stockholders Subject Shares complying with the terms of the Offer and (b) a certificate or certificates representing all such Subject Shares that are certificated or, in the case of Subject Shares that are Book-Entry Shares, written instructions to such Stockholders broker, dealer or other nominee that such Subject Shares be tendered in the Offer, including a reference to this Agreement, and requesting delivery of an agents message or such other evidence, if any, of transfer as the Paying Agent may request to effect or evidence the transfer thereof. Each Stockholder agrees that, once any of such Stockholders Subject Shares are tendered, such Stockholder will not withdraw such Subject Shares from the Offer, unless and until (i) the Merger Agreement shall have been validly terminated in accordance with its terms, (ii) the Offer shall have been terminated, withdrawn or shall have expired, or (iii) this Agreement shall have been terminated in accordance with Section 5.2 hereof. Upon the occurrence of (i), (ii) or (iii) in the preceding sentence, Parent and Merger Sub shall promptly return, and shall cause the Paying Agent to promptly return, all Subject Shares tendered by Stockholder.
1.2. Agreement to Vote. Each Stockholder hereby irrevocably and unconditionally agrees that, subject to the terms of this Agreement, until the Termination Date, at any annual or special meeting of the stockholders of the Company, however called, including any adjournment or postponement thereof, and in connection with any action proposed to be taken by written consent of the stockholders of the Company, such Stockholder shall, in each case to the fullest extent that such Stockholders Subject Shares are entitled to vote thereon: (a) appear at each such meeting or otherwise cause all such Subject Shares to be counted as present thereat for purposes of determining a quorum; and (b) be present (in person or by proxy) and vote (or cause to be voted), or deliver (or cause to be delivered) a written consent with respect to, all of such Subject Shares unless the Merger Agreement has been validly terminated in accordance with its terms, (i) against any action or agreement that is intended or would reasonably be expected to (A) result in a breach of any covenant, representation or warranty or any other obligation or agreement of the Company contained in the Merger Agreement or of any Stockholder contained in this Agreement or (B) result in any of the conditions set forth in Article 7 or Annex I of the Merger Agreement not being satisfied in a timely manner; (ii) against any Alternative Transaction Proposal or any action in furtherance of any Alternative Transaction Proposal; (iii) against any other action, agreement or transaction involving the Company or any Subsidiary of the Company that is intended or would reasonably be expected to impede, interfere with, delay, postpone, adversely affect or prevent the consummation of the Offer or the Merger or the other transactions contemplated by the Merger Agreement, including (x) any extraordinary corporate transaction, such as a merger, consolidation or other business combination involving the Company or any Subsidiary of the Company (other than the Transactions); (y) a sale, lease, license or transfer of a material amount of assets of the Company or Subsidiary of the Company or any reorganization, recapitalization or liquidation of the Company; or (z) any change in the present capitalization of the Company or any amendment or other change to the Company Charter or Company Bylaws as in effect on the date hereof; and (iv) in favor of (A) the adoption of the Merger Agreement and the approval of the Merger and the other transactions contemplated
2
by the Merger Agreement, (B) the approval of any proposal to adjourn or postpone the meeting to a later date if there are not sufficient votes for the adoption and approval of the Merger Agreement and the transactions contemplated thereby on the date on which such meeting is held and (C) any other matter necessary for consummation of the transactions contemplated by the Merger Agreement that is considered at any such meeting of the Stockholders of the Company. No Stockholder shall agree or commit to take any action inconsistent with the foregoing. Each Stockholder shall retain at all times the right to vote the Subject Shares (with respect to which the Stockholder is entitled to vote) in such Stockholders sole discretion, and without any other limitation, on any matters other than those set forth in this Section 1.2 that are at any time or from time to time presented for consideration to the Companys stockholders generally.
ARTICLE II
REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS
Each Stockholder represents and warrants, severally and not jointly, to Parent and Merger Sub that:
2.1. Authorization; Binding Agreement. If such Stockholder is not an individual, such Stockholder is duly organized and validly existing in good standing under the Laws of the jurisdiction in which it is incorporated or constituted and the consummation of the transactions contemplated hereby are within such Stockholders entity powers and have been duly authorized by all necessary entity actions on the part of such Stockholder, and such Stockholder has full power and authority to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. If such Stockholder is an individual, such Stockholder has full legal capacity, right and authority to execute and deliver this Agreement and to perform such Stockholders obligations hereunder. This Agreement has been duly and validly executed and delivered by such Stockholder and constitutes a valid and binding obligation of such Stockholder enforceable against such Stockholder in accordance with its terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and to general equity principles). If such Stockholder is married, and any of the Subject Shares of such Stockholder constitute community property or otherwise need spousal or other approval for this Agreement to be legal, valid and binding, this Agreement has been duly executed and delivered by such Stockholders spouse and is enforceable against such Stockholders spouse in accordance with its terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and to general equity principles).
2.2. Non-Contravention. Neither the execution and delivery of this Agreement by such Stockholder nor the consummation of the transactions contemplated hereby nor compliance by such Stockholder with any provisions herein will (a) if such Stockholder is not an individual, violate, contravene or conflict with, or result in a breach of any provision of, the certificate of incorporation or bylaws (or other similar governing documents) of such Stockholder, (b) require any consent of, or registration, declaration or filing with, any Governmental Body on the part of such Stockholder, except for the filing of such reports as may be required under Sections 13(d) and 16 of the Exchange Act or the HSR Act in connection with this Agreement and the transactions contemplated hereby, (c) violate, contravene or conflict with, or result in a breach of any provisions of, or require any consent, waiver or approval or
3
result in a default or loss of a benefit (or give rise to any right of termination, cancellation, modification or acceleration or any event that, with the giving of notice, the passage of time or otherwise, would constitute a default or give rise to any such right) under any of the terms, conditions or provisions of any Contract or other instrument or obligation to which such Stockholder is a party or by which such Stockholder or any of its Subject Shares are bound, (d) result (or, with the giving of notice, the passage of time or otherwise, would result) in the creation or imposition of any Share Encumbrance of any kind on any asset of such Stockholder (other than one created by Parent or Merger Sub or otherwise pursuant to this Agreement), or (e) violate, contravene or conflict with any Law or Order applicable to such Stockholder or by which any of its Subject Shares are bound, except for any of the foregoing as could not reasonably be expected, either individually or in the aggregate, to impair, impede, delay or frustrate the ability of such Stockholder to perform such Stockholders obligations hereunder or to consummate the transactions contemplated hereby on a timely basis.
2.3. Ownership of Subject Shares; Total Shares. Such Stockholder is the record and/or beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of all such Stockholders Subject Shares and has good and marketable title to all such Subject Shares free and clear of any Encumbrances, proxies, voting trusts or agreements, options or rights, understandings or arrangements inconsistent with this Agreement or the transactions contemplated hereby, or any other encumbrances or restrictions whatsoever on title, transfer or exercise of any rights of a stockholder in respect of such Subject Shares (collectively, Share Encumbrances), except for any such Share Encumbrance that may be imposed pursuant to (i) this Agreement and (ii) any applicable restrictions on transfer under the Securities Act or any state securities law (collectively, Permitted Share Encumbrances). The shares of Company Common Stock listed on Schedule A opposite such Stockholders name constitute all of the shares of Company Common Stock owned by such Stockholder, beneficially or of record, as of the date hereof, other than Restricted Stock Units, and such Stockholder and its Affiliates do not own, beneficially or of record, any restricted stock, restricted stock units, options, warrants or other rights to acquire shares of Company Common Stock or any securities convertible into or exchangeable for shares of Company Common Stock.
2.4. Voting Power. Such Stockholder has sole voting power with respect to all such Stockholders Subject Shares, and sole power of disposition, sole power to issue instructions with respect to the matters set forth in Article I and Article IV herein, sole power to demand or waive any appraisal rights with respect to the Subject Shares and sole power to agree to all of the matters set forth in this Agreement, in each case with respect to all such Stockholders Subject Shares.
2.5. Reliance. Such Stockholder has had the opportunity to review the Merger Agreement and this Agreement with counsel of its own choosing. Such Stockholder understands and acknowledges that Parent and Merger Sub are entering into the Merger Agreement in reliance upon such Stockholders execution, delivery and performance of this Agreement.
2.6. Absence of Litigation. With respect to such Stockholder, as of the date hereof, there is no Action pending against, or, to the knowledge of such Stockholder, threatened against such Stockholder or any of such Stockholders properties or assets (including any Subject Shares) before or by any Governmental Authority that would reasonably be expected
4
to prevent, delay or impair the consummation by such Stockholder of the transactions contemplated by this Agreement or otherwise impair such Stockholders ability to perform its obligations hereunder.
2.7. Brokers. No broker, finder, financial advisor, investment banker or other Person is entitled to any brokerage, finders, financial advisors or other similar fee or commission from the Parent, Merger Sub or Company in connection with the transactions contemplated hereby based upon arrangements made by or on behalf of such Stockholder.
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB
Parent and Merger Sub represent and warrant to the Stockholders that:
3.1. Organization and Qualification. Each of Parent and Merger Sub is a duly organized and validly existing corporation in good standing under the Laws of the jurisdiction of its organization.
3.2. Authority for this Agreement. Each of Parent and Merger Sub has all requisite entity power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Parent and Merger Sub have been duly and validly authorized by all necessary entity action on the part of each of Parent and Merger Sub, and no other entity proceedings on the part of Parent and Merger Sub are necessary to authorize this Agreement. This Agreement has been duly and validly executed and delivered by Parent and Merger Sub and constitutes a legal, valid and binding obligation of each of Parent and Merger Sub, enforceable against each of Parent and Merger Sub in accordance with its terms (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and to general equity principles).
3.3. Non-Contravention. Neither the execution and delivery of this Agreement by Parent and Merger Sub nor the consummation of the transactions contemplated hereby nor compliance by them with any provisions herein will (a) violate, contravene or conflict with, or result in a breach of any provision of, the certificate of incorporation or bylaws (or other similar governing documents) of each of Parent and Merger Sub, (b) require any consent of, or registration, declaration or filing with, any Governmental Authority on the part of Parent and Merger Sub, except for the filing of such reports as may be required under the Exchange Act or the HSR Act in connection with this Agreement and the transactions contemplated hereby, or (c) violate, contravene or conflict with any Law or Order applicable to Parent or Merger Sub or by which any of their respective properties or assets are bound, except for any of the foregoing as could not reasonably be expected, either individually or in the aggregate, to impair, impede, delay or frustrate the ability of Parent or Merger Sub to perform their obligations hereunder or to consummate the transactions contemplated hereby on a timely basis.
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ARTICLE IV
ADDITIONAL COVENANTS OF THE STOCKHOLDERS
Each Stockholder hereby covenants and agrees that until the Termination Date:
4.1. No Transfer; No Inconsistent Arrangements. Except as provided hereunder, such Stockholder shall not, directly or indirectly, (a) create or permit to exist any Share Encumbrance, other than Permitted Share Encumbrances, on any of such Stockholders Subject Shares, (b) transfer, sell, assign, gift, hedge, pledge or otherwise dispose of (including, for the avoidance of doubt, by depositing, submitting or otherwise tendering any such Subject Shares into any tender or exchange offer), or enter into any derivative arrangement with respect to (collectively, Transfer), any of such Stockholders Subject Shares, or any right or interest therein (or consent to any of the foregoing), (c) enter into any Contract, option or other agreement (including profit sharing agreement), arrangement or understanding with respect to any Transfer of such Stockholders Subject Shares or any interest therein, (d) grant or permit the grant of any proxy, power-of-attorney or other authorization or consent in or with respect to any such Stockholders Subject Shares, (e) deposit or permit the deposit of any of such Stockholders Subject Shares into a voting trust or enter into a voting agreement or arrangement with respect to any of such Stockholders Subject Shares, or (f) take or permit any other action that would in any way restrict, limit or interfere with the performance of such Stockholders obligations hereunder or otherwise make any representation or warranty of such Stockholder herein untrue or incorrect. Any action taken in violation of the foregoing sentence shall be null and void ab initio. If any involuntary Transfer of any of such Stockholders Subject Shares shall occur (including, but not limited to, a sale by such Stockholders trustee in any bankruptcy, or a sale to a purchaser at any creditors or court sale), the transferee (which term, as used herein, shall include any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Subject Shares subject to all of the restrictions, obligations, liabilities and rights under this Agreement, which shall continue in full force and effect until valid termination of this Agreement. Notwithstanding anything in this Agreement to the contrary, until the Termination Date, such Stockholder shall not, directly or indirectly, accept any tender offer or exchange offer that constitutes an Alternative Transaction Proposal and shall not tender any Subject Shares in any such tender offer or exchange offer.
4.2. No Exercise of Appraisal Rights. Such Stockholder forever waives and agrees not to exercise any appraisal rights or dissenters rights in respect of such Stockholders Subject Shares that may arise in connection with the Merger unless the Merger Agreement is validly terminated in accordance with its terms.
4.3. Documentation and Information. Such Stockholder shall not make any public announcement regarding this Agreement and the transactions contemplated hereby without the prior written consent of Parent (such consent not to be unreasonably withheld), except as may be required by applicable Law (provided that reasonable notice of any such disclosure will be provided to Parent). Such Stockholder consents to and hereby authorizes Parent and Merger Sub to publish and disclose in all documents and schedules filed with the SEC or other Governmental Authority or applicable securities exchange, and any press release or other disclosure document in connection with the Offer, the Merger and any other transactions contemplated by the Merger Agreement, such Stockholders identity and ownership of the
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Subject Shares, the existence of this Agreement and the nature of such Stockholders commitments and obligations under this Agreement, and such Stockholder acknowledges that Parent and Merger Sub may, in Parents sole discretion, file this Agreement or a form hereof with the SEC or any other Governmental Authority or securities exchange. Such Stockholder agrees to promptly give Parent any information Parent may reasonably request for the preparation of any such disclosure documents, and such Stockholder agrees to promptly notify Parent of any required corrections with respect to any written information supplied by such Stockholder specifically for use in any such disclosure document, if and to the extent that any such information shall have become false or misleading in any material respect. The Stockholder makes no representations, and shall have no liability to Parent, Merger Sub or the Company or any of their respective Affiliates, with respect to any other disclosure made by Parent, Merger Sub, the Company or any of their respective Affiliates (other than Stockholder), or with respect to any other information contained in any such disclosure documents.
4.4. Adjustments. In the event of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares or the like of the capital stock of the Company affecting the Subject Shares, the terms of this Agreement shall apply to the resulting securities.
4.5. Waiver of Certain Actions. Each Stockholder hereby agrees not to commence or participate in, and to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, Merger Sub, the Company or any of their respective successors (a) challenging the validity of, or seeking to enjoin or delay the operation of, any provision of this Agreement or the Merger Agreement (including any claim seeking to enjoin or delay the consummation of the Offer or the Closing) or (b) alleging a breach of any duty of the Board of Directors of the Company in connection with the Merger Agreement, this Agreement or the transactions contemplated thereby or hereby. Notwithstanding Section 5.2, in the event the Offer is consummated, this Section 4.5 shall survive the consummation of the Offer indefinitely.
4.6. No Solicitation. Subject to Section 5.15, each Stockholder shall not, and shall cause its controlled Affiliates and its and their respective Representatives not to, and each Stockholder shall not publicly propose to, directly or indirectly (other than with respect to Parent and Merger Sub), (a) solicit, initiate or knowingly facilitate, induce or encourage any inquiries or the making of any proposal or offer that constitutes or would reasonably be expected to lead to an Alternative Transaction Proposal, or (b) enter into, continue or otherwise participate in any discussions or negotiations regarding, or furnish to any Person any information with respect to, or otherwise cooperate in any way that would otherwise be expected to lead to, any Alternative Transaction Proposal. Without limiting the foregoing, it is agreed that any violation of the restrictions set forth in the preceding sentence by any Stockholder, their respective controlled Affiliates and their respective Representatives shall be deemed to be a breach of this Section 4.6 by such Stockholder. Each Stockholder shall, and shall cause its controlled Affiliates and its and their respective Representatives to, immediately cease and cause to be terminated any and all existing activities, discussions or negotiations with any Person conducted heretofore with respect to any Alternative Transaction Proposal. Each Stockholder shall, and shall cause its controlled Affiliates and their respective Representatives to, immediately cease and terminate any existing solicitation, encouragement, discussion or negotiation with any third-party
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theretofore conducted by such Stockholder, its controlled Affiliates or its and their respective Representatives. Except to the extent such notice has previously been provided by the Company pursuant to the Merger Agreement, each Stockholder shall as promptly as practicable (and in any event within twenty-four (24) hours) after receipt of any Alternative Transaction Proposal or any request for nonpublic information or any inquiry relating in any way to, or that could reasonably be expected to lead to, any Alternative Transaction Proposal, provide Parent with oral and written notice of the material terms and conditions of such Alternative Transaction Proposal, request or inquiry, and the identity of the Person or group making any such Alternative Transaction Proposal, request or inquiry and an unredacted copy of all written materials provided to it in connection with such Alternative Transaction Proposal, request or inquiry. In addition, except to the extent provided by the Company pursuant to the Merger Agreement, each Stockholder shall provide Parent as promptly as practicable (and in any event within twenty-four (24) hours) with all information as is reasonably necessary to keep Parent fully informed in all material respects of all oral or written communications regarding, and the status and terms of, and changes in any such Alternative Transaction Proposal, request or inquiry, and, shall promptly provide to Parent an unredacted copy of all written materials (including written materials provided by email or otherwise in electronic format) provided, directly or indirectly, by or to such Stockholder, its controlled Affiliates or any of their respective Representatives in connection with such Alternative Transaction Proposal, request or inquiry.
4.7. Stockholder Litigation. Each Stockholder shall provide Parent with prompt notice of any claim or Action (including any class action or derivative litigation) brought, asserted or commenced by, on behalf of or in the name of, against or otherwise involving such Stockholder relating to the Offer, the Merger, this Agreement or any of the transactions contemplated by this Agreement, and shall keep Parent informed on a reasonably prompt basis with respect to the status thereof. Each Stockholder shall give Parent the opportunity to participate (at Parents expense) in the defense or settlement of any such litigation, and no such settlement shall be agreed to without the Parents prior written consent.
4.8. Reasonable Best Efforts. Unless the Merger Agreement has been validly terminated in accordance with its terms, each Stockholder shall use its reasonable best efforts to take, or cause to be taken, any and all actions and to do, or cause to be done, and to assist with Parent, Merger Sub and the Company in doing, any and all things, necessary, proper or advisable to consummate and make effective the Offer, the Merger and the other transactions contemplated by the Merger Agreement.
ARTICLE V
MISCELLANEOUS
5.1. Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given (a) on the date of delivery if delivered personally or sent via facsimile or electronic mail (receipt confirmed), (b) on the first (1st) Business Day following the date of dispatch if sent by a nationally recognized overnight courier (providing proof of delivery) or (c) on the third (3rd) Business Day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid, in each case to the parties at the following addresses (or at such other address for a party as shall be specified by like notice): (i) if to Parent or Merger Sub,
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to the address or facsimile number set forth in Section 9.2 of the Merger Agreement and (ii) if to a Stockholder, to such Stockholders address or facsimile number set forth on a signature page hereto, or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to each other party hereto.
5.2. Termination. This Agreement shall terminate automatically, without any notice or other action by any Person, upon the first to occur of (a) the valid termination of the Merger Agreement in accordance with its terms, (b) the Effective Time, (c) upon mutual written consent of the parties to terminate this Agreement, and (d) the date of any modification, waiver or amendment of the Merger Agreement, without each Stockholders consent, in a manner that reduces the amount or changes the form of consideration payable thereunder to such Stockholder (the date of termination with respect to any Stockholder being referred to herein as the Termination Date). Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; provided, however, that (x) nothing set forth in this Section 5.2 shall relieve any party from liability for any breach of this Agreement prior to termination hereof, (y) the provisions of this Article V (excluding Section 5.14) shall survive any termination of this Agreement, and (z) the provisions of Section 4.5 of this Agreement shall survive any termination of the date hereof in the event the Offer has been consummated.
5.3. Amendment; Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the parties. Any agreement on the part of a party to any extension or waiver with respect to this Agreement shall be valid only if set forth in an instrument in writing signed on behalf of such party. The failure of any party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.
5.4. Expenses. All fees and expenses incurred in connection herewith and the transactions contemplated hereby shall be paid by the party incurring such fees and expenses, whether or not the Offer or the Merger is consummated.
5.5. Entire Agreement. This Agreement, together with Schedule A, and the other documents and certificates delivered pursuant hereto, constitute the entire agreement, and supersede all prior agreements and understandings, both written and oral, among the parties with respect to, the subject matter of this Agreement.
5.6. Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of law or otherwise by any of the parties without the prior written consent of the other parties, except that either Parent or Merger Sub may assign, in its sole discretion, any of or all its rights, interests and obligations under this Agreement to Parent (in the case of Merger Sub) or to any direct or indirect Subsidiary of Parent, but no such assignment shall relieve Parent or Merger Sub, as applicable, of any of its obligations under this Agreement. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors and assigns.
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5.7. Specific Enforcement; Jurisdiction. (a) The parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions, or any other appropriate form of equitable relief, to prevent breaches of this Agreement and to enforce specifically the performance of the terms and provisions of this Agreement in any court referred to in Section 5.7(b), without the necessity of proving the inadequacy of money damages as a remedy (and each party hereby waives any requirement for the securing or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity. Each of the parties acknowledges and agrees that the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without such right, none of the parties would have entered into this Agreement.
(b) Each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware (or, if such court shall be unavailable, any state or federal court sitting in the State of Delaware) for the purpose of any Action arising out of or relating to this Agreement or any of the transactions contemplated hereby, and each of the parties hereby irrevocably agrees that all claims with respect to such Action may be heard and determined exclusively in such court. Each of the parties hereto (i) consents to submit itself to the personal jurisdiction of the Court of Chancery of the State of Delaware (or, if such court shall be unavailable, any state or federal court sitting in the State of Delaware) in the event any Action arises out of this Agreement or any of the transactions contemplated hereby, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) irrevocably consents to the service of process in any Action arising out of or relating to this Agreement or any of the transactions contemplated hereby, on behalf of itself or its property, in accordance with Section 5.1 (provided that nothing in this Section 5.7(b) shall affect the right of any party to serve legal process in any other manner permitted by Law) and (iv) agrees that it will not bring any Action relating to this Agreement or any of the transactions contemplated hereby in any court other than the Court of Chancery of the State of Delaware (or, if such court shall be unavailable, any state or federal court sitting in the State of Delaware). The parties hereto agree that a final trial court judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law; provided, however, that nothing in the foregoing shall restrict any partys rights to seek any post-judgment relief regarding, or any appeal from, such final trial court judgment.
5.8. Waiver of Jury Trial. Each party hereto hereby waives, to the fullest extent permitted by applicable Law, any right it may have to a trial by jury in respect of any Action arising out of this Agreement or any of the transactions contemplated hereby. Each party hereto (a) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such party would not, in the event of any Action, seek to enforce the foregoing waiver and (b) acknowledges that it and the other parties hereto have been induced to enter into this Agreement by, among other things, the mutual waiver and certifications in this Section 5.8.
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5.9. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof.
5.10. Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each party hereto, and nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement.
5.11. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any manner adverse to any party.
5.12. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission shall be effective as delivery of a manually executed counterpart of this Agreement.
5.13. Interpretation. The rules of construction set forth in Section 1.3 of the Merger Agreement shall apply to this Agreement, mutatis mutandis.
5.14. Further Assurances. Each Stockholder will execute and deliver, or cause to be executed and delivered, all further documents and instruments and use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws and regulations, to perform its obligations under this Agreement.
5.15. Capacity as Stockholder. Each Stockholder signs this Agreement solely in such Stockholders capacity as a stockholder of the Company, and not in such Stockholders capacity as a director, officer or employee of the Company. Notwithstanding anything herein to the contrary, nothing herein shall in any way restrict a director or officer of the Company in the taking of any actions (or failure to act) in his or her capacity as a director or officer of the Company, or in the exercise of his or her fiduciary duties in his or her capacity as a director or officer of the Company, or prevent or be construed to create any obligation on the part of any director or officer of the Company to refrain from taking any action in his or her capacity as such director or officer, and no action taken solely in any such capacity as an officer or director of the Company shall be deemed to constitute a breach of this Agreement.
5.16. Stockholder Obligation Several and Not Joint. The obligations of each Stockholder hereunder shall be several and not joint, and no Stockholder shall be liable for any breach of the terms of this Agreement by any other Stockholder.
5.17. Headings. The Section headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.
[Remainder of Page Intentionally Left Blank. Signature Pages Follow.]
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The parties are executing this Agreement on the date set forth in the introductory clause.
CB Shine Holdings, LLC | ||||
By: | /s/ David Stonehill | |||
Name: | David Stonehill | |||
Title: | President and Treasurer | |||
CB Shine Merger Sub, Inc. | ||||
By: | /s/ David Stonehill | |||
Name: | David Stonehill | |||
Title: | President and Treasurer |
[Signature Page Tender and Support Agreement]
STOCKHOLDERS | ||||
Living Trust u/a dtd 9/30/91 f/b/o Robert B. Goergen | ||||
By: | /s/ Robert B. Goergen | |||
Robert B. Goergen, Trustee | ||||
/s/ Robert B. Goergen | ||||
Robert B. Goergen | ||||
Ropart Investments, LLC | ||||
By: | /s/ Robert B. Goergen | |||
Robert B. Goergen, Manager | ||||
The Goergen Foundation, LLC | ||||
By: | /s/ Robert B. Goergen | |||
Robert B. Goergen, President | ||||
Living Trust f/b/o Pamela M. Goergen | ||||
By: | /s/ Pamela M. Goergen | |||
Pamela M. Goergen, Trustee | ||||
/s/ Pamela M. Goergen | ||||
Pamela M. Goergen | ||||
/s/ Robert B. Goergen, Jr. | ||||
Robert B. Goergen, Jr. |
[Signature Page Tender and Support Agreement]
Trust f/b/o Greer S. Goergen | ||||
By: | /s/ Robert B. Goergen, Jr. | |||
Robert B. Goergen Jr., Trustee | ||||
Trust f/b/o Robert B. Goergen III | ||||
By: | /s/ Robert B. Goergen, Jr. | |||
Robert B. Goergen Jr., Trustee | ||||
Trust f/b/o Harper. G. Goergen | ||||
By: | /s/ Robert B. Goergen, Jr. | |||
Robert B. Goergen Jr., Trustee |
[Signature Page Tender and Support Agreement]
Schedule A
Name of Stockholder |
Number of Shares of Company Common Stock (Shares) | |
Living Trust u/a dtd 9/30/91 f/b/o Robert B. Goergen | 4,022,929 Shares Owned of Record1 | |
Robert B. Goergen | 1,734,842 Shares Owned Beneficially But Not of Record | |
Living Trust f/b/o Pamela M. Goergen | 199,190 Shares Owned of Record | |
Pamela M Goergen | 1,745,342 Shares Owned Beneficially But Not of Record (Including 10,500 Vested Restricted Stock Units) | |
The Goergen Foundation, Inc. | 182,092 Shares Owned of Record | |
Ropart Investments, LLC | 1,552,750 Shares Owned of Record | |
Robert B. Goergen, Jr. | 353,559 Shares Owned of Record | |
Robert B. Goergen, Jr. | 1,937,011 Shares Owned Beneficially But Not of Record (Including 11,942 Vested Restricted Stock Units)2 | |
Trust f/b/o Greer S. Goergen | 7,769 Shares Owned of Record | |
Trust f/b/o Robert | 7,367 Shares Owned of Record | |
Trust f/b/o Harper. G. Goergen | 6,517 Shares Owned of Record |
1 | As used in this Schedule A, the term Shares Owned of Record refers to Shares that are shown on the record books of the Company as being owned by the person or entity shown opposite such Shares and/or to Shares that are held by a custodian for the account of such person or entity. |
2 | 168,574 of such Shares do not constitute Subject Shares because Robert B. Goergen, Jr. does not have sole discretion to vote or dispose thereof. |