-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IHSfOtdcqA8SwVOAJacl22bMtN7v4fg+BzFoCcaDGttpJO8Ys1JlxLi9jI+KLEy4 Obt6oqaIsJGb2IMW9l0now== 0001095811-01-504383.txt : 20010817 0001095811-01-504383.hdr.sgml : 20010817 ACCESSION NUMBER: 0001095811-01-504383 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010814 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010816 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AUTOBYTEL COM INC CENTRAL INDEX KEY: 0001023364 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 330711569 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22239 FILM NUMBER: 1716341 BUSINESS ADDRESS: STREET 1: 18872 MACARTHUR BLVD STREET 2: SUITE 200 CITY: IRVINE STATE: CA ZIP: 92612-1400 BUSINESS PHONE: 9492254500 MAIL ADDRESS: STREET 1: AUTO BY TEL CORP STREET 2: 18872 MACARTHUR BLVD 2ND FL CITY: IRVINE STATE: CA ZIP: 92612-1400 FORMER COMPANY: FORMER CONFORMED NAME: AUTO BY TEL CORP DATE OF NAME CHANGE: 19960920 8-K 1 a75218e8-k.txt FORM 8-K DATED AUGUST 14, 2001 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): AUGUST 14, 2001 --------------- AUTOBYTEL.COM INC. - -------------------------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) DELAWARE 22239 33-0711569 --------------- ---------------- --------------------- (STATE OR OTHER (COMMISSION FILE (IRS EMPLOYER JURISDICTION OF NUMBER) IDENTIFICATION NO.) INCORPORATION) 18872 MACARTHUR BOULEVARD, IRVINE, CALIFORNIA 92612-1400 - -------------------------------------------------------------------------------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (949) 225-4500 AUTOBYTEL.COM INC. - -------------------------------------------------------------------------------- (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) 2 ITEM 2. ACQUISITION. Pursuant to an Acquisition Agreement dated as of April 11, 2001, by and among Autobytel Inc. (formerly autobytel.com inc.), a Delaware corporation ("Autobytel"), Autobytel Acquisition I Corp., a Delaware corporation and wholly-owned subsidiary of Autobytel ("Merger Sub"), and Autoweb.com, Inc., a Delaware corporation ("Autoweb"), and the related Certificate of Merger executed by Autoweb and filed with the Delaware Secretary of State on August 14, 2001, Merger Sub merged with and into Autoweb and Autoweb became a wholly-owned subsidiary of Autobytel (the "Merger"). The Merger closed on August 14, 2001. As a result of the Merger, each outstanding share of Autoweb Common Stock was cancelled and converted into the right to receive 0.3553 shares of Autobytel Common Stock. No fractional shares will be issued and, in lieu thereof, the holder will be paid cash equal to the fraction (after aggregating all fractional shares held by such holder) multiplied by the average closing price of Autobytel's Common Stock for the fifteen trading days immediately preceding the closing date of the merger, as reported on the Nasdaq National Market. An aggregate of 10,504,841 shares of Common Stock have been registered by Autobytel for issuance in connection with the Merger, and options to purchase an aggregate of approximately 1.3 million additional shares of Autobytel Common Stock have been assumed by Autobytel in the Merger. Based on the closing price of Autobytel Common Stock on the Nasdaq National Market on August 14, 2001, the value of the shares of Common Stock issuable by Autobytel in the Merger was approximately $10.6 million. The merger consideration was negotiated between the parties. Autoweb is a leading consumer automotive Internet service. Its Web site centralizes an extensive collection of automotive-related commerce, content and community offerings to assist consumers in researching, evaluating and buying vehicles and automotive-related products and services such as insurance and financing. In addition, Autoweb provides automotive content, Web hosting and development services and sales automation services to vehicle manufacturers, dealers and online partners. Autobytel intends to continue Autoweb's operations as a wholly owned subsidiary of Autobytel. ITEM 5. OTHER EVENTS. At Autobytel's stockholders meeting held on August 14, 2001, Autobytel's stockholders approved changing its name to Autobytel Inc. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial Statements of Business Acquired. The following documents and information have been previously filed with the Securities and Exchange Commission and have been omitted pursuant to General Instruction B.3 of Form 8-K: (1) Balance sheet of Autoweb at December 31, 2000 and 1999 and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2000, filed with Autobytel's Registration Statement on Form S-4 (Registration No. 333-60798). (2) Autoweb's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2001. 3 (b) Pro Forma Financial Information. Included in Autobytel's Registration Statement on Form S-4 (File No. 333-60798), as declared effective on July 18, 2001, are the following which have been omitted pursuant to General Instruction B.3 of Form 8-K: o the unaudited pro forma consolidated condensed balance sheet that presents the combined unaudited consolidated balance sheet of Autobytel as of March 31, 2001 and the unaudited balance sheet of Autoweb as of March 31, 2001; o the unaudited pro forma consolidated condensed statements of operations that presents the combined unaudited consolidated statement of operations of Autobytel for the three months ended March 31, 2001 and unaudited statement of operations of Autoweb for the three months ended March 31, 2001; and o the unadited pro forma consolidated condensed statements of operations that presents the combined audited statement of operations of Autobytel for the year ended December 31, 2000 and the audited statement of operations of Autoweb for the year ended December 31, 2000. (c) Exhibits. The following exhibits are filed as a part of this report: 2.1* Acquisition Agreement dated as of April 11, 2001 by and among Autobytel, Merger Sub and Autoweb 99.1 Press Release dated August 15, 2001 of Autobytel Inc. -------------- * Incorporated by reference to the exhibits to Autobytel's Registration Statement on Form S-4 (file no. 333-60798) as declared effective by the Securities and Exchange Commission on July 18, 2001. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 15, 2001 AUTOBYTEL INC. By: /s/ ARIEL AMIR -------------------------- Ariel Amir Executive Vice President and General Counsel 4 INDEX TO EXHIBITS Exhibit Number Description ------- ----------- 2.1* Acquisition Agreement dated as of April 11, 2001 by and among Autobytel, Merger Sub and Autoweb 99.1 Press Release dated August 15, 2001 of Autobytel Inc. -------------- * Incorporated by reference to the exhibits to Autobytel's Registration Statement on Form S-4 (file no. 333-60798) as declared effective by the Securities and Exchange Commission on July 18, 2001. EX-99.1 3 a75218ex99-1.txt EXHIBIT 99.1 1 EXHIBIT 99.1 AUTOBYTEL INC. COMPLETES ACQUISITION OF AUTOWEB.COM Combination Accelerates Evolution of Company's Business; Creates One of the Largest, Most Diversified Online Automotive Commerce and Information Companies IRVINE, CA - AUGUST 15, 2001 -- Autobytel Inc. (Nasdaq:ABTL) today announced that it completed the acquisition of Autoweb.com. The acquisition creates one of the world's largest, most diversified online automotive commerce and information companies providing auto distributors and manufacturers with marketing, data, technology and management services to help them sell cars, both online and off. "Not only do we expect the combination of our businesses to yield cost savings and revenue growth; but it will allow Autobytel Inc. to provide marketing, data, technology and management services that can benefit every manufacturer and dealership as they seek to increase market share through more efficient processes," said Mark Lorimer, President and CEO of Autobytel Inc. "Just as important, we have a dramatically expanded core customer base, including Autobytel Inc.'s twenty-five manufacturer customers and approximately 6,000 subscribing dealers." Lorimer cited Autobytel Inc.'s unparalleled expertise and success using the Internet to market cars as the foundation of the company. He noted that some of the ongoing strengths of the combined businesses forming Autobytel Inc. include: o advertising programs used by manufacturers and dealers to target customers during the decision making process; o powering manufacturer and portal auto channels with data and tools to help customers buy cars; o providing the technology to drive one of the most advanced inventory-based manufacturer's online car selling program to date; o generating billions of dollars in car sales for dealers through the company's popular websites. "There's much more to the online automotive market than the online buying service model we pioneered and continue to dominate," continued Lorimer. "With this acquisition, our evolution towards becoming a company that does business with every player in the automotive industry takes a giant step forward. We are well positioned to continue to capitalize on the opportunities within the business of building and supporting the automotive distribution and marketing infrastructure." He noted that the company's lead referral business is further bolstered by the acquisition, with small overlap in the dealers and minimal website audience cross-over(1) between Autobytel Inc.'s four consumer-facing brands. This offers unique opportunities to both marketers and dealers looking to reach the broadest car-buying audience. "According to Media Metrix, Autobytel Inc. websites are receiving over three million unique visitors a month(2) and Autobytel Inc. content and technology has potential exposure to over 90 percent of total web traffic(3)," said Lorimer. "Most of the sixty percent of all Americans who go online to research and shop for a car will likely encounter Autobytel Inc. technology or content, or an Autobytel Inc. brand, during the process." 2 In addition to approving the acquisition, shareholders also approved Autobytel Inc. as the new name of the expanded company. Autoweb stockholders have the right to receive 0.3553 shares of Autobytel common stock for each share of Autoweb common stock they own. Outstanding Autoweb options will be assumed and become options for Autobytel shares, subject to the share exchange ratio. About Autobytel Inc. Autobytel Inc. (Nasdaq:ABTL) is one of the world's largest, most diversified online automotive commerce and information companies. As the company that owns and operates Autobytel.com, Autoweb.com, Carsmart.com, Autosite.com, and AIC (Automotive Information Center), Autobytel Inc.'s mission is to provide marketing, data, technology and management services to benefit every manufacturer and dealership. The company powers manufacturer and portal auto channels with data and tools to help customers buy cars; provides advertising programs for manufacturers and dealers to target customers; develops technology to drive one of the most advanced inventory-based manufacturer's online car selling program to date; and generates billions of dollars in car sales for dealers through the company's popular websites. Serving approximately 6,000 subscribing dealers and 25 international automotive manufacturer customers, Autobytel Inc. websites are receiving approximately three million unique visitors a month(2), and Autobytel Inc. content and technology has potential exposure to over 90 percent of total web traffic(3). It is estimated that the vast majority of the 60 percent of all Americans who go online to research and shop for a car will encounter Autobytel Inc. content or technology, or an Autobytel Inc. brand, during the process. - ------------- (1) Media Metrix July 2001Digital Media Audience Report (Over 99% unduplicated traffic between Autobytel.com, Autoweb.com, CarSmart.com and Autosite.com.) (2) Media Metrix July 2001 Digital Media Audience Report (Autobytel Inc. websites include Autobytel.com, Autoweb.com, CarSmart.com, Autoweb.com/Lycos co-branded pages and Autosite.com.) (3) Media Metrix July 2001 Digital Media Audience Report (Autobytel Inc. provides content to Yahoo.com, AOL websites, MSN.com and Lycos.com. The unduplicated audience of these four sites accounts for over 90 percent of total traffic.) The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. These forward-looking statements, including statements about projected revenues and expense savings, are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed in, or implied by, such forward-looking statements. Autobytel undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements are changes in general economic conditions, increased or unexpected competition, the failure to realize anticipated synergies, costs related to the merger, failure of the combined company to retain and hire key employees, difficulties in successfully integrating the businesses and technologies and other matters disclosed in Autobytel's filings with the Securities and Exchange Commission. Investors are strongly encouraged to review Autobytel's annual report on Form 10-K for the year ended December 31, 2000, and other reports on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of Autobytel's stock. CONTACTS: MEDIA Melanie Webber, Autobytel Inc., 949.862.3023 (melaniew@autobytel.com) Betsy Isroelit, RBI Communications, Inc., 323.960.1360 ext. 17 (betsy@rbicom.com) Cassandra Cavanah, RBI Communications, Inc., 323.960.1360 ext. 30 (cassandra@rbicom.com) INVESTOR RELATIONS Geri Weinfeld, Autobytel Inc., 949.225.4553 (geriw@autobytel.com) ### -----END PRIVACY-ENHANCED MESSAGE-----