-----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, LuQCbe7UI/Yls4QhWlRESxiKMCmgqNqRtyEFjpF6KfkLJP0zuvZ82gI0dcomKUFW NhbC+E1dQlO7R65Ds+qiug== 0000891618-98-004931.txt : 19981116 0000891618-98-004931.hdr.sgml : 19981116 ACCESSION NUMBER: 0000891618-98-004931 CONFORMED SUBMISSION TYPE: S-8 PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19981113 EFFECTIVENESS DATE: 19981113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN XTAL TECHNOLOGY CENTRAL INDEX KEY: 0001051627 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 943031310 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: S-8 SEC ACT: SEC FILE NUMBER: 333-67297 FILM NUMBER: 98749307 BUSINESS ADDRESS: STREET 1: 4311 SOLAR WAY CITY: FREMONT STATE: CA ZIP: 94538 BUSINESS PHONE: 5106835900 MAIL ADDRESS: STREET 1: 4311 SOLAR WAY CITY: FREMONT STATE: CA ZIP: 94538 S-8 1 FORM S-8 1 Filed with the Securities and Exchange Commission on November 13, 1998 Registration No._________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AMERICAN XTAL TECHNOLOGY, INC. ---------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 94-3031310 - ---------------------------------- ----------------------------------- (State or other jurisdiction (I.R.S. employer identification no.) of incorporation or organization) 4311 Solar Way Fremont, CA 94538 ------------------------------------------------- (Address of principal executive offices) (Zip code) AMERICAN XTAL TECHNOLOGY, INC. 1993 STOCK OPTION PLAN, 1997 STOCK OPTION PLAN, AND 1998 EMPLOYEE STOCK PURCHASE PLAN -------------------------------------------------------- (Full title of the plan) Morris S. Young President and Chief Executive Officer American Xtal Technology, Inc. 4311 Solar Way Fremont, CA 94538 ------------------------------------- (Name and address of agent for service) Telephone number, including area code, of agent for service: (510) 683-5900. This registration statement shall hereafter become effective in accordance with Rule 462 promulgated under the Securities Act of 1933, as amended. 2 - -------------------------------------------------------------------------------- CALCULATION OF REGISTRATION FEE - --------------------------------------------------------------------------------
Proposed maximum Proposed maximum Title of Securities to Amount to be offering price aggregate offering Amount of be registered(1) registered(2) per share(3) price(3) registration fee - ------------------------ ---------------------- ---------------------- ----------------------- ---------------------- 1993 Stock Option Plan Common Stock 159,675 $4.6594 $ 743,989.70 $ 206.83 Par Value $0.001 243,969 $9.78125 $ 2,386,321.78 $ 663.40 1997 Stock Option Plan Common Stock 1,214,025 $5.1334 $ 6,232,075.94 $1,732.52 Par Value $0.001 1,584,413 $9.78125 $15,497,539.66 $4,308.32 1998 Employee Stock Purchase Plan Common Stock 250,000 $8.314 $ 2,078,500.00 $ 577.82 Par Value $0.001 TOTALS 3,452,083 $26,938,427.08 $7,488.89
- --------------------------- 1 The securities to be registered include options [and rights] to acquire Common Stock. 2 Pursuant to Rule 416(a), this registration statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend or similar transaction. 3 Estimated pursuant to Rule 457 solely for purposes of calculating the registration fee. As to shares subject to outstanding but unexercised options under the 1993 Stock Option Plan and the 1997 Stock Option Plan, the price is computed on the basis of the weighted average exercise price for grants under the respective plans. As to the remaining shares under the 1993 Stock Option Plan and the 1997 Stock Option Plan, the $9.78125 price is based upon the average of the high and low prices of the Common Stock on November 11, 1998, as reported on the Nasdaq National Market. The 1998 Employee Stock Purchase Plan establishes a purchase price equal to 85% of the fair market value of the Company's Common Stock, and, therefore, the price for shares under this plan is based upon 85% of the average of the high and low prices of the Common Stock on November 11, 1998, as reported on the Nasdaq National Market. 3 PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT Item 3. Incorporation of Documents by Reference American Xtal Technology, Inc. (the "Company") hereby incorporates by reference in this registration statement the following documents: (a) The Company's prospectus filed on May 21, 1998, pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the "Securities Act") containing audited consolidated financial statements for the Company's fiscal year ended December 31, 1997. The prospectus is included in the Company's Registration Statement on Form S-1 (No. 333-48085, effective May 11, 1998). (b) All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") since the end of the fiscal year covered by the registrant document referred to in (a) above. (c) The description of the Company's Common Stock contained in the Company's Registration Statement on Form 8-A filed on April 24, 1998, under the Exchange Act, including any amendment or report filed for the purpose of updating such description. All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents. Item 4. Description of Securities The class of securities to be offered is registered under Section 12 of the Exchange Act. Item 5. Interests of Named Experts and Counsel Inapplicable. Item 6. Indemnification of Directors and Officers Section 102(b) of the Delaware General Corporation Law authorizes a corporation to provide in its Certificate of Incorporation that a director of the corporation shall not be personally liable to corporation or its stockholders for monetary damages for breach or alleged breach of the director's "duty of care." While this statute does not change directors' duty of care, it enables corporations to limit available relief to equitable remedies such as injunction or 4 rescission. The statute has no effect on a director's duty of loyalty or liability for acts or omissions not in good faith or involving intentional misconduct or knowing violations of law, illegal payment of dividends or stock redemptions or repurchases, or for any transaction from which the director derives an improper personal benefit. As permitted by the statute, the Company has adopted provisions in its Certificate of Incorporation which eliminate to the fullest extent permissible under Delaware law the personal liability of its directors to the Company and its stockholders for monetary damages for breach or alleged breach of their duty of care. Section 145 of the General Corporation Law of the State of Delaware provides for the indemnification of officers, directors, employees and agents of a corporation. The Bylaws of the Company provide for indemnification of its directors, officers, employees and agents to the full extent permitted by Delaware law, including those circumstances in which indemnification would otherwise be discretionary under Delaware law. The Company's Bylaws also empower it to enter into indemnification agreements with its directors and officers and to purchase insurance on behalf of any person whom it is required or permitted to indemnify. The Company has entered into agreements with its directors and certain of its executive officers that require the Company to indemnify such persons to the fullest extent permitted under Delaware law against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred (including expenses of a derivative action) in connection with any proceeding, whether actual or threatened, to which any such person may be made a party by reason of the fact that such person is or was a director or an executive officer of the Company or any of its affiliated enterprises. The indemnification agreements also set forth certain procedures that will apply in the event of a claim for indemnification thereunder. Section 145 of the General Corporation Law of the State of Delaware provides for indemnification in terms sufficiently broad to indemnify such individuals, under certain circumstances, for liabilities (including reimbursement of expenses incurred) arising under the Securities Act. Item 7. Exemption From Registration Claimed Inapplicable. Item 8. Exhibits See Exhibit Index. Item 9. Undertakings (a) Rule 415 Offering The undersigned registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: 5 (i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and (iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; provided, however, that paragraphs (1)(i) and (l)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement. (2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (b) Filing incorporating subsequent Exchange Act Documents by reference The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (h) Request for acceleration of effective date or filing of registration statement on Form S-8 Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, 6 officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. 7 SIGNATURE Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fremont, State of California, on November 11, 1998. American Xtal Technology, Inc. By: /s/ Guy Atwood ------------------------------------- Guy Atwood, Vice President and Chief Financial Officer 8 SIGNATURES AND POWER OF ATTORNEY The officers and directors of American Xtal Technology, Inc., whose signatures appear below, hereby constitute and appoint Morris S. Young and Guy Atwood, and each of them, their true and lawful attorneys and agents, with full power of substitution, each with power to act alone, to sign and execute on behalf of the undersigned any amendment or amendments to this registration statement on Form S-8, and each of the undersigned does hereby ratify and confirm all that each of said attorney and agent, or their or his substitutes, shall do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons, in the capacities indicated, on November 11, 1998.
Signature Title - ------------------------------ -------------------------------------------- /s/ Morris S. Young Chairman of the Board and Chief Executive - ------------------------------ Officer (Principle Executive Officer) Morris S. Young /s/ Guy Atwood Vice President and Chief Financial Officer - ------------------------------ (Principal Financial and Accounting Officer) Guy Atwood /s/ Jesse Chen Director - ------------------------------ Jesse Chen /s/ B.J. Moore Director - ------------------------------ B.J. Moore Director - ------------------------------ Donald L. Tatzin Director - ------------------------------ Theodore Young
9 EXHIBIT INDEX 4.1 Certificate of Incorporation of the Company is incorporated by reference to Exhibit 3.1 to the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on May 11, 1998 (No. 333-48085) 4.2 Bylaws of the Company are incorporated by reference to Exhibit 3.2 to the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on May 11, 1998 (No. 333-48085) 4.3 Agreement and Plan of Merger dated May 15, 1998 between American Xtal Technology, a California corporation, and American Xtal Technolgy, a Delaware corporation, is incorporated by reference to Exhibit 2.1 to the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on May 11, 1998 (No. 333-48085) 5 Opinion re legality 23.1 Consent of Counsel (included in Exhibit 5) 23.2 Consent of PricewaterhouseCoopers LLP 24 Power of Attorney (included in signature pages to this registration statement) EX-5 2 OPINION RE LEGALITY 1 EXHIBIT 5 [LETTERHEAD OF GRAY CARY WARE & FREIDENRICH LLP] 400 Hamilton Avenue, Palo Alto, CA 94301-1825 Phone: (650) 328-6561 Fax: (650) 327-3699 www.gcwf.com November 12, 1998 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Ladies and Gentlemen: As legal counsel for American Xtal Technology, Inc., a Delaware corporation (the "Company"), we are rendering this opinion in connection with the registration under the Securities Act of 1933, as amended, of up to 3,452,083 shares of the Common Stock, $0.001 par value, of the Company which may be issued pursuant to the Company's 1993 Stock Option Plan, 1997 Stock Option Plan, and 1998 Employee Stock Purchase Plan (the "Plans"). We have examined all instruments, documents and records which we deemed relevant and necessary for the basis of our opinion hereinafter expressed. In such examination, we have assumed the genuineness of all signatures and the authenticity of all documents submitted to us as originals and the conformity to the originals of all documents submitted to us as copies. We are admitted to practice only in the State of California and we express no opinion concerning any law other than the law of the State of California, the corporation laws of the State of Delaware and the federal law of the United States. As to matters of Delaware corporation law, we have based our opinion solely upon our examination of such laws and the rules and regulations of the authorities administering such laws, all as reported in standard, unofficial compilations. We have not obtained opinions of counsel licensed to practice in jurisdictions other than the State of California. Based on such examination, we are of the opinion that the 3,452,083 shares of Common Stock which may be issued upon exercise of options and purchase rights granted under the Plans are duly authorized shares of the Company's Common Stock, and, when issued against receipt of the consideration therefor in accordance with the provisions of the Plans, will be validly issued, fully paid and nonassessable. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement referred to above and the use of our name wherever it appears in said Registration Statement. Respectfully submitted, /s/ Gray Cary Ware & Freidenrich LLP - ------------------------------------ GRAY CARY WARE & FREIDENRICH LLP EX-23.2 3 CONSENT OF PRICEWATERHOUSECOOPERS LLP 1 EXHIBIT 23.2 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of American Xtal Technology, Inc. of our report dated February 6, 1998, appearing in the American Xtal Technology, Inc.'s Prospectus dated May 20, 1998. /s/ PricewaterhouseCoopers LLP - ------------------------------ PricewaterhouseCoopers LLP November 12, 1998 -----END PRIVACY-ENHANCED MESSAGE-----