UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the Month of September 2022
(Commission File. No. 000-30718).
SIERRA WIRELESS, INC.
(Translation of registrants name in English)
13811 Wireless Way
Richmond, British Columbia, Canada V6V 3A4
(Address of principal executive offices and zip code)
Registrants Telephone Number, including area code: 604-231-1100
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:
Form 20-F ☐ 40-F ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes: ☐ No: ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes: ☐ No: ☒
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, thereunto duly authorized.
Sierra Wireless, Inc. | ||||||
By: | /s/ Samuel Cochrane | |||||
Samuel Cochrane, Chief Financial Officer | ||||||
Date: September 28, 2022 |
EXHIBIT LIST
Exhibit No. |
Description | |
99.1 | Press Release | |
99.2 | Report of Voting Results |
Exhibit 99.1
Sierra Wireless Securityholders Approve Acquisition by Semtech Corporation
September 27, 2022: Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) (Sierra Wireless or the Company) is pleased to announce that its Securityholders (as defined below) have approved the acquisition of all of the outstanding shares of the Company (the Shares) by 13548597 Canada Inc., a wholly-owned subsidiary of Semtech Corporation (Semtech) by way of a statutory plan of arrangement (the Transaction or the Arrangement) at the special meeting of Securityholders held today (the Meeting).
The special resolution approving the Arrangement was approved by: (i) 98.60% of the votes cast by the shareholders of the Company (the Shareholders) present in person, virtually or represented by proxy at the Meeting, and (ii) 98.69% of the votes cast by Shareholders, holders of options to purchase Shares of the Company, holders of restricted share units and phantom restricted share units of the Company and holders of performance share units of the Company (collectively, the Securityholders), voting together as a single class, present in person, virtually or represented by proxy at the Meeting.
The Arrangement is subject to antitrust and competition approvals in the U.S. and Canada, respectively, the approval of the Supreme Court of British Columbia (the Court) and other customary closing conditions. The Court hearing for the final order to approve the Arrangement is scheduled to take place on September 29, 2022, and the completion of the Arrangement is expected to occur in Semtechs fiscal year 2023. Until close, the parties remain separate independent companies. Following completion of the Transaction, the Shares will be delisted from the Toronto Stock Exchange and Nasdaq Global Market. An application will also be made for the Company to cease to be a reporting issuer in the applicable jurisdictions following completion of the Arrangement. The Company will also deregister the Shares under the U.S. Securities Exchange Act of 1934, as amended.
ABOUT SIERRA WIRELESS
Sierra Wireless (Nasdaq: SWIR) (TSX: SW) is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Sierra Wireless works with its customers to develop the right industry-specific solution for their IoT deployments, whether this is an integrated solution to help connect edge devices to the cloud, a software/API service to manage processes with billions of connected assets, or a platform to extract real-time data to improve business decisions. With more than 25 years of cellular IoT experience, Sierra Wireless is a global partner customers trust to deliver them their next IoT solution. For more information, visit www.sierrawireless.com.
ABOUT SEMTECH
Semtech Corporation is a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the Nasdaq Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
For further information, please contact:
Media Contact: | Investor Contact: | |
Louise Matich | Sean Fallis | |
Media Relations | Investor Relations | |
pr@sierrawireless.com | investor@sierrawireless.com |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This press release includes certain forward-looking information and forward-looking statements (collectively forward-looking information) within the meaning of applicable securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, the expected timetable for completing the Arrangement and any other statements regarding Sierras expectations, intentions, plans and beliefs. Forward-looking information is frequently, but not always, identified by words such as expects, anticipates, believes, intends, estimates, potential, possible, and similar expressions, or statements that events, conditions, or results will, may, could, or should occur or be achieved. These forward-looking statements may also include statements regarding the Companys ability to meet all conditions precedent set forth in the Arrangement Agreement, the Companys ability to secure the final Court approval in connection with the Transaction, and the required regulatory approvals; or other statements that are not statements of fact.
Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Companys expectations include the parties ability to consummate the Arrangement; the conditions to the completion of the Arrangement, including the receipt of required regulatory approvals, the court approval on the terms expected or on the anticipated schedule; the parties ability to meet expectations regarding the timing, completion and accounting and tax treatments of the Arrangement; the Companys ability to delist and deregister the Shares under applicable securities laws and exchange rules; and other risks and uncertainties disclosed in the Companys periodic filings with Canadian securities regulators and the Securities and Exchange Commission in the United States and in other Company reports and documents filed with applicable securities regulatory authorities from time to time, including the Companys Annual Information Form available under the Companys profile at www.sedar.com and on EDGAR at www.sec.gov. The Companys forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.
2
Exhibit 99.2
Special Meeting of Securityholders of
Sierra Wireless, Inc. (the Company)
September 27, 2022
REPORT OF VOTING RESULTS
Pursuant to Section 11.3 of National Instrument 51-102
This report sets out the matters voted upon and the results of the votes conducted at the special meeting (the Meeting) of holders of common shares (the Shares), holders of options to purchase Shares (the Options), holders of restricted share units and phantom restricted share units (the RSUs) and holders of performance share units (the PSUs, and together with the Shares, Options and RSUs, the Securities) (collectively, the Securityholders) of the Company held on September 27, 2022.
The total number of Securities voting in person, virtually or represented by proxy at the meeting was 23,725,728 Securities, representing approximately 58.56% of the Companys issued and outstanding Securities, as of the record date of August 23, 2022.
Approval of Arrangement Resolution
At the Meeting, Securityholders approved a special resolution, the full text of which is set forth in Appendix C to the management information circular of the Company dated August 26, 2022 (the Circular), to approve a plan of arrangement (the Arrangement) under section 192 of the Canada Business Corporations Act involving the Company, Semtech Corporation (Semtech) and 13548597 Canada Inc. (the Purchaser), a wholly-owned subsidiary of Semtech. Pursuant to the Arrangement, the Purchaser will, among other things, acquire all of the outstanding Shares for a price of US$31.00 in cash per Share. Full details of the special resolution and the Arrangement are set out in the Circular, available under the Companys issuer profile at www.sedar.com.
The following is a summary of the votes cast by holders of Shares:
Total Votes | Voted (%) | |||||||
Votes For |
21,717,407 | 98.60 | ||||||
Votes Against |
307,773 | 1.40 |
The following is a summary of the votes cast by holders of Shares, Options, RSUs and PSUs (voting together as a single class):
Total Votes | Voted (%) | |||||||
Votes For |
23,415,495 | 98.69 | ||||||
Votes Against |
309,809 | 1.31 |
DATED this 27th day of September, 2022.
SIERRA WIRELESS, INC. | ||
Per: | ||
(signed) Jennifer Farac | ||
Jennifer Farac | ||
General Counsel & Corporate Secretary |