UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Endurance International Group Holdings, Inc.
(Name of Issuer)
Common Stock, Par Value $0.0001 Per Share
(Title of Class of Securities)
29272B105
(CUSIP Number)
Robert B. Knauss
Managing Director and General Counsel
Warburg Pincus LLC
450 Lexington Avenue
New York, NY 10017
(212) 878-0600
With a copy to:
David Leinwand
Matthew P. Salerno
Cleary Gottlieb Steen & Hamilton LLP
One Liberty Plaza
New York City, NY 10006
(212) 225-2000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
September 16, 2016
(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 Rule 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 (the 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).
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus Private Equity X, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
WC(1) | |||||
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
38,545,409(2) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
38,545,409(2) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
38,545,409(2) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
27.3%(3) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Item 3 is incorporated herein by reference. |
(2) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 3 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(3) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
2
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus X Partners, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
WC(1) | |||||
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
1,233,135(2) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
1,233,135(2) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
1,233,135(2) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
0.9%(3) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Item 3 is incorporated herein by reference. |
(2) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 3 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(3) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
3
CUSIP No. 29272B105
1. | Names of Reporting Persons
WP Expedition Co-Invest L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
12,575,112(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
12,575,112(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
12,575,112(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
8.9%(2) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 3 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
4
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus X, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
39,778,544(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
39,778,544(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
39,778,544(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
28.2%(2) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
5
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus X GP L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
39,778,544(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
39,778,544(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
39,778,544(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
28.2%(2) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
6
CUSIP No. 29272B105
1. | Names of Reporting Persons
WPP GP LLC | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
39,778,544(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
39,778,544(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
39,778,544(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
28.2%(2) | |||||
14. | Type Of Reporting Person
OO |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
7
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus Partners, L.P. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
52,353,656(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
52,353,656(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
52,353,656(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
37.1%(2) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
8
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus Partners GP LLC | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
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
52,353,656(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
52,353,656(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
52,353,656(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
37.1%(2) | |||||
14. | Type Of Reporting Person
OO |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
9
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus & Co. | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
5. | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
¨ | |||||
6. | Citizenship or Place of Organization
New York | |||||
Number of Shares Beneficially Owned by Each Reporting Person With:
|
7. | Sole Voting Power
0 | ||||
8. | Shared Voting Power
52,353,656(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
52,353,656(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
52,353,656(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
37.1%(2) | |||||
14. | Type Of Reporting Person
PN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
10
CUSIP No. 29272B105
1. | Names of Reporting Persons
Warburg Pincus LLC | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
5. | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
¨ | |||||
6. | Citizenship or Place of Organization
New York | |||||
Number of Shares Beneficially Owned by Each Reporting Person With:
|
7. | Sole Voting Power
0 | ||||
8. | Shared Voting Power
39,778,544(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
39,778,544(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
39,778,544(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
28.2%(2) | |||||
14. | Type Of Reporting Person
OO |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 3 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
11
CUSIP No. 29272B105
1. | Names of Reporting Persons
Charles R. Kaye | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
5. | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
¨ | |||||
6. | Citizenship or Place of Organization
United States | |||||
Number of Shares Beneficially Owned by Each Reporting Person With:
|
7. | Sole Voting Power
0 | ||||
8. | Shared Voting Power
52,353,656(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
52,353,656(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
52,353,656(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
37.1%(2) | |||||
14. | Type Of Reporting Person
IN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 2 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
12
CUSIP No. 29272B105
1. | Names of Reporting Persons
Joseph P. Landy | |||||
2. | Check the Appropriate Box if a Member of a Group (a) ¨ (b) x
| |||||
3. | SEC Use Only
| |||||
4. | Source of Funds
N/A | |||||
5. | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
¨ | |||||
6. | Citizenship or Place of Organization
United States | |||||
Number of Shares Beneficially Owned by Each Reporting Person With:
|
7. | Sole Voting Power
0 | ||||
8. | Shared Voting Power
52,353,656(1) | |||||
9. | Sole Dispositive Power
0 | |||||
10. | Shared Dispositive Power
52,353,656(1) | |||||
11. |
Aggregate Amount Beneficially Owned by Each Reporting Person
52,353,656(1) | |||||
12. | Check if the Aggregate Amount In Row (11) Excludes Certain Shares
¨ | |||||
13. | Percent of Class Represented by Amount in Row 11
37.1%(2) | |||||
14. | Type Of Reporting Person
IN |
(1) | The information set forth in Items 4, 5 and 6 is incorporated herein by reference. As more fully described in Item 6 of this Schedule 13D, the Warburg Pincus Investors are party to a Stockholders Agreement with the Goldman Sachs Investors and certain other holders of Common Stock of the Issuer. The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors in such entities Schedule 13G/A, filed with the Commission on February 16, 2016. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The percentages used herein have been determined in accordance with footnote 3 below. Capitalized terms used in this Schedule 13D are defined in Items 1, 2(a), 4, 5 or 6 below. |
(2) | Based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Form 10-Q filed with the Commission on August 8, 2016. |
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Information in respect of each Warburg Pincus Reporting Person (as defined below) is given solely by such Warburg Pincus Reporting Person, and no Warburg Pincus Reporting Person has responsibility for the accuracy or completeness of information supplied by any other Warburg Pincus Reporting Person.
Item 1. | Security and Issuer |
This statement on Schedule 13D (this Statement) relates to the shares of common stock, $0.0001 par value per share (Common Stock), of Endurance International Group Holdings, Inc. (the Issuer), which has its principal executive office at 10 Corporate Drive, Suite 300, Burlington, Massachusetts 01803.
Item 2. | Identity and Background |
(a) This Statement is being filed jointly on behalf of: (i) Warburg Pincus Private Equity X, L.P., a Delaware limited partnership (WP X), (ii) Warburg Pincus X Partners, L.P., a Delaware limited partnership (WP X Partners and together with WP X, the WP X Funds), (iii) WP Expedition Co-Invest L.P., a Delaware limited partnership (WP Co-Invest), (iv) Warburg Pincus X, L.P., a Delaware limited partnership (WP X LP), the general partner of the WP X Funds, (v) Warburg Pincus X GP L.P., a Delaware limited partnership (WP X GP), the general partner of WP X LP, (vi) WPP GP LLC, a Delaware limited liability company (WPP GP), the general partner of WP X GP, (vii) Warburg Pincus Partners, L.P., a Delaware limited partnership (WP Partners), the managing member of WPP GP and the general partner of WP Co-Invest, (viii) Warburg Pincus Partners GP LLC, a Delaware limited liability company (WP Partners GP), the general partner of WP Partners, (ix) Warburg Pincus & Co., a New York general partnership (WP), the managing member of WP Partners GP, (x) Warburg Pincus LLC, a New York limited liability company (WP LLC), the manager of the WP X Funds, and (xi) Messrs. Charles R. Kaye and Joseph P. Landy, each a United States citizen and a Managing General Partner of WP and Managing Member and Co-Chief Executive Officer of WP LLC. Each of Messrs. Kaye and Landy, together with the WP X Funds, WP Co-Invest, WP X LP, WP X GP, WPP GP, WP Partners, WP Partners GP, WP and WP LLC are collectively referred to herein as the Warburg Pincus Reporting Persons.
The agreement among the Warburg Pincus Reporting Persons to file this Statement jointly in accordance with Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended (the Exchange Act), is attached hereto as Exhibit 99.1.
As of the date hereof, the WP X Funds and WP Co-Invest are the record holders of all of the shares of Common Stock of the Issuer reported on this Statement.
(b) The address of the principal business and principal office of the Warburg Pincus Reporting Persons is c/o Warburg Pincus LLC, 450 Lexington Avenue, New York, New York 10017. Additional information relating to the Warburg Pincus Reporting Persons is included in Schedule I hereto.
(c) The principal business of the WP X Funds and WP Co-Invest is that of making private equity and related investments. The principal business of the rest of the Warburg Pincus Reporting Persons is as follows: WP X LP is the general partner of the WP X Funds; WP X GP is the general partner of WP X LP; WPP GP is the general partner of WP X GP and certain other limited partnerships affiliated with WP LLC; WP Partners is the managing member of WPP GP and certain other entities affiliated with WP LLC, and the general partner of WP Co-Invest and certain funds affiliated with WP LLC; WP Partners GP is the general partner of WP Partners and certain other limited partnerships affiliated with WP LLC; WP is the managing member of WP Partners GP and may be deemed the ultimate general partner of certain other funds affiliated with WP LLC; WP LLC is the manager of the WP X Funds and certain other funds; and Messrs. Kaye and Landy are the Managing General Partners of WP and Managing Members and Co-Chief Executive Officers of WP LLC.
(d) During the last five years, none of the Warburg Pincus Reporting Persons has been convicted of a criminal proceeding (excluding traffic violations or similar misdemeanors) nor, to the knowledge of the Warburg Pincus Reporting Persons, have any of the persons named on Schedule I.
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(e) During the last five years, none of the Warburg Pincus Reporting Persons nor, to the knowledge of the Warburg Pincus Reporting Persons, any of the persons named on Schedule I, has been a party to a civil proceeding or a judicial or administrative body of competent jurisdiction and, as 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.
(f) Messrs. Kaye and Landy are citizens of the United States of America, and, except as otherwise indicated on Schedule I, each of the individuals referred to on Schedule I hereto is a citizen of the United States of America.
Item 3. | Source and Amount of Funds or Other Consideration |
As of December 31, 2015, WP X owned 34,034,036 shares of Common Stock of the Issuer, WP X Partners owned 1,088,808 shares of Common Stock of the Issuer and WP Co-Invest owned 12,575,112 shares of Common Stock of the Issuer. Each of WP X, WP X Partners and WP Co-Invest acquired their respective shares as a result of their investment in the Issuer prior to the Issuers public offering. Such ownership was reported by each of WP X, WP X Partners and WP Co-Invest and certain affiliated entities on a Schedule 13G, as amended from time to time in the ordinary course. As a result of the acquisition of additional shares, since the most recent Schedule 13G/A, which was filed on February 12, 2016, the Warburg Pincus Reporting Persons are reporting their ownership on a Schedule 13D.
On August 4, 2016, WP X purchased 250,971 shares of Common Stock of the Issuer in the open market at a price of $6.74, and WP X Partners purchased 8,029 shares in the open market at a price of $6.74.
On August 5, 2016, WP X purchased 193,800 shares of Common Stock of the Issuer in the open market at a price of $6.85, and WP X Partners purchased 6,200 shares in the open market at a price of $6.85.
On August 8, 2016, WP X purchased 200,583 shares of Common Stock of the Issuer in the open market at a price of $7.03, and WP X Partners purchased 6,417 shares in the open market at a price of $7.03.
On August 9, 2016, WP X purchased 202,521 shares of Common Stock of the Issuer in the open market at a price of $7.61, and WP X Partners purchased 6,479 shares in the open market at a price of $7.61.
On August 10, 2016, WP X purchased 135,660 shares of Common Stock of the Issuer in the open market at a price of $7.54, and WP X Partners purchased 4,340 shares in the open market at a price of $7.54.
On August 12, 2016, WP X purchased 515,508 shares of Common Stock of the Issuer in the open market at a price of $7.75, and WP X Partners purchased 16,492 shares in the open market at a price of $7.75.
On August 17, 2016, WP X purchased 157,947 shares of Common Stock of the Issuer in the open market at a price of $7.70, and WP X Partners purchased 5,053 shares in the open market at a price of $7.70.
On August 19, 2016, WP X purchased 193,800 shares of Common Stock of the Issuer in the open market at a price of $7.67, and WP X Partners purchased 6,200 shares in the open market at a price of $7.67.
On September 14, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 77,520 shares of Common Stock of the Issuer in the open market at a price of $8.41, and WP X Partners purchased 2,480 shares in the open market at a price of $8.41.
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On September 15, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 115,795 shares of Common Stock of the Issuer in the open market at a price of $8.62, and WP X Partners purchased 3,705 shares in the open market at a price of $8.62.
On September 16, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 1,356,600 shares of Common Stock of the Issuer in the open market at a price of $8.63, and WP X Partners purchased 43,400 shares in the open market at a price of $8.63.
On September 19, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 96,900 shares of Common Stock of the Issuer in the open market at a price of $8.63, and WP X Partners purchased 3,100 shares in the open market at a price of $8.63.
On September 20, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 969,000 shares of Common Stock of the Issuer in the open market at a price of $8.78, and WP X Partners purchased 31,000 shares in the open market at a price of $8.78.
On September 21, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 29,070 shares of Common Stock of the Issuer in the open market at a price of $8.47, and WP X Partners purchased 930 shares in the open market at a price of $8.47.
On September 23, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 9,690 shares of Common Stock of the Issuer in the open market at a price of $8.50, and WP X Partners purchased 310 shares in the open market at a price of $8.50.
On September 26, 2016, in accordance with Rule 10b-18 and pursuant to the Trading Plan (defined below), WP X purchased 6,008 shares of Common Stock of the Issuer in the open market at a price of $8.48, and WP X Partners purchased 192 shares in the open market at a price of $8.48.
WP Co-Invest has not made any additional purchases since the most recent Schedule 13G/A.
All of the funds required for the purchases for both of the WP X Funds of the shares of Common Stock of the Issuer were obtained from the working capital of the WP X Funds, including from capital contributions from their respective limited partners.
Item 4. | Purpose of Transaction |
The acquisition of the shares as indicated herein was effected in the ordinary course of business because of the belief that the shares represent an attractive investment. The Warburg Pincus Reporting Persons beneficially own the shares as an investment. Depending on prevailing market, economic, and other conditions, the Warburg Pincus Reporting Persons may from time to time acquire additional shares or engage in discussions with the Issuer concerning future acquisitions of shares of its capital stock. Such acquisitions may be made by means of open-market purchases, privately negotiated transactions, direct acquisitions from the Issuer, or otherwise. The Warburg Pincus Reporting Persons intend to review their investment in the Issuer on a continuing basis, and depending upon the price and availability of shares of the Issuers capital stock, subsequent developments affecting the Issuer, the Issuers business and prospects, other investment and business opportunities available to the Warburg Pincus Reporting Persons, general stock market and economic conditions, tax considerations and other factors considered relevant, may decide at any time to increase or to decrease the size of their investment in the Issuer, including by distributing shares pro rata to the beneficial owners of one or more of the Warburg Pincus Reporting Persons.
In addition, the Warburg Pincus Reporting Persons will routinely monitor the Issuers operations, prospects, business development, management, competitive and strategic matters, capital structure, and any proposals received from third parties with respect to the Issuer. The Warburg Pincus Reporting Persons may discuss such matters with management or directors of the Issuer, existing or potential strategic partners, persons who have expressed an interest in acquiring all or a portion of the Issuers equity interests, sources of credit and other investors. In evaluating the Issuer, the Warburg Pincus Reporting Persons will also consider alternative investment opportunities available to them, the Warburg Pincus Reporting Persons liquidity requirements and other investment considerations.
The factors described in the preceding paragraphs may materially affect, and result in, the Warburg Pincus Reporting Persons proposing changes to the Issuers operations, governance or capitalization or proposing one or more of the other actions described in this Item 4 of Schedule 13D. The Warburg Pincus Reporting Persons reserve the right to formulate other plans and/or make other proposals, and take such actions with respect to their investment in the Issuer or dispose of all or a portion of their investment in the Issuer in privately negotiated transactions. The Warburg Pincus Reporting Persons may at any time reconsider and change their plans or proposals relating to the foregoing as to the Issuer.
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On September 13, 2016, the WP X Funds entered into a trading plan, effective as of September 13, 2016 (the Trading Plan), with Credit Suisse Securities (USA) LLC (the Broker), pursuant to which the Broker is authorized and directed to purchase on behalf of the WP X Funds up to $25,750,000.00 (including commissions) of shares of Common Stock of the Issuer, subject to satisfaction of certain conditions, including, among others, trading price. The WP X Funds may terminate the Trading Plan at any time. Purchases under the Trading Plan, if any, will be disclosed as required by applicable law in public filings with the U.S. Securities and Exchange Commission (the Commission), including any required amendments to this Schedule 13D. The purchase of shares by the WP X Funds pursuant to the Trading Plan is intended to satisfy the conditions of Rules 10b5-1 and 10b-18 under the Act. A copy of the Trading Plan is filed as Exhibit 99.2 hereto and the foregoing description of the Trading Plan is qualified in its entirety by reference to the Trading Plan.
Item 5. | Interest in Securities of the Issuer |
Following the completion of the purchases described in Item 3 above, each of the Warburg Pincus Reporting Persons had the following beneficial ownership of shares of Common Stock of the Issuer (percentages are based on a total of 141,210,733 shares of Common Stock of the Issuer outstanding as of July 29, 2016, as stated in the Issuers Quarterly Report on Form 10-Q for the quarter ended June 30, 2016, filed with the Commission on August 8, 2016 (Form 10-Q)):
(i) WP X had shared dispositive and voting power over 38,545,409 shares, representing 27.3% of the outstanding shares.
(ii) WP X Partners had shared dispositive and voting power over 1,233,135 shares, representing 0.9% of the outstanding shares.
(iii) WP Co-Invest had shared dispositive and voting power over 12,575,112 shares, representing 8.9% of the outstanding shares.
(iv) WP X LP by virtue of its status as the general partner of the WP X Funds had shared dispositive and voting power over 39,778,544 shares, representing 28.2% of the outstanding shares.
(v) WP X GP by virtue of its status as the general partner of WP X LP had shared dispositive and voting power over 39,778,544 shares, representing 28.2% of the outstanding shares.
(vi) WPP GP by virtue of its status as the general partner of the WP X GP had shared dispositive and voting power over 39,778,544 shares, representing 28.2% of the outstanding shares.
(vii) WP Partners by virtue of its status as the managing member of WPP GP and the general partner of WP Co-Invest had shared dispositive and voting power over 52,353,656 shares, representing 37.1% of the outstanding shares.
(viii) WP Partners GP by virtue of its status as the general partner of WP Partners had shared dispositive and voting power over 52,353,656 shares, representing 37.1% of the outstanding shares.
(ix) WP by virtue of its status as the managing member of WP Partners GP had shared dispositive and voting power over 52,353,656 shares, representing 37.1% of the outstanding shares.
(xxv) WP LLC by virtue of its status as the manager of the WP X Funds had shared dispositive and voting power over 39,778,544 shares, representing 28.2% of the outstanding shares.
(xxvi) Charles R. Kaye by virtue of his status as a Managing General Partner of WP and Managing Member and Co-Chief Executive Officer of WP LLC had shared dispositive and voting power over 52,353,656 shares, representing 37.1% of the outstanding shares.
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(xxvii) Joseph P. Landy by virtue of his status as a Managing General Partner of WP and Managing Member and Co-Chief Executive Officer of WP LLC had shared dispositive and voting power over 52,353,656 shares, representing 37.1% of the outstanding shares.
The information as provided on Schedule I to this Schedule 13D is hereby incorporated by reference.
Each of the Warburg Pincus Reporting Persons may be deemed to have beneficial ownership of all of the shares reported in this Schedule 13D; however, each of the Warburg Pincus Reporting Persons disclaims beneficial ownership of shares in excess of that reported in this Item 5 and of the shares of Common Stock of the Issuer owned by the other Warburg Reporting Persons, except to the extent of its or his pecuniary interest in such shares of Common Stock.
Item 6. | Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer |
Registration Rights Agreement
A Second Amended and Restated Registration Rights Agreement (the Registration Rights Agreement), dated as of October 24, 2013, by and among (i) the Issuer, (ii) the WP X Funds and WP Co-Invest (collectively, the Warburg Pincus Investors), (iii) GS Capital Partners VI Fund, L.P., GS Capital Partners VI Offshore Fund, L.P., GS Capital Partners VI Parallel, L.P., GS Capital Partners VI GmbH & Co. KG, Bridge Street 2011, L.P., Bridge Street 2011 Offshore L.P., and MBD 2011 Holdings, L.P. (collectively, the Goldman Sachs Investors) and (iv) certain other holders of Common Stock of the Issuer (together with the Goldman Sachs Investors, the Other Investors), provides that the Warburg Pincus Investors and the Goldman Sachs Investors have the right to require the Issuer to register shares of Common Stock under the Securities Act of 1933, as amended (the Securities Act), under specified circumstances. After registration pursuant to these rights, these shares of Common Stock will become freely tradable without restriction under the Securities Act. These registration rights are subject to specified conditions and limitations, including the right of the underwriters to limit the number of shares to be registered and the Issuers right to delay a registration statement under specified circumstances. Pursuant to the Registration Rights Agreement, the Issuer is required to pay all registration expenses and indemnify each participating holder with respect to each registration of registrable shares that is completed. The Registration Rights Agreement is attached hereto as Exhibit 1 and is incorporated herein by reference.
Stockholders Agreement
The following is a description of the material terms of the Stockholders Agreement (the Stockholders Agreement), dated October 24, 2013, by and among (i) the Issuer, (ii) the Warburg Pincus Investors and (iii) the Other Investors.
Board Representation. Each of the Warburg Pincus Investors and the Other Investors has agreed to vote the shares of Common Stock of the Issuer that each holds of record in a certain manner on matters related to the election of certain directors appointed by the Warburg Pincus Investors and the Goldman Sachs Investors. Under the terms of the Stockholders Agreement, the Warburg Pincus Investors are entitled to designate up to (i) four directors for election to the board of directors of the Issuer (the Board) for so long as the Warburg Pincus Investors hold an aggregate total of at least 32,339,279 shares of Common Stock, (ii) three directors for election to the Board for so long as the Warburg Pincus Investors hold an aggregate total of at least 16,169,640 shares of Common Stock and (iii) one director for election to the Board for so long as the Warburg Pincus Investors hold an aggregate total of at least 8,084,820 shares of Common Stock. In addition, the Goldman Sachs Investors are entitled to designate up to one director to the Board for so long as the Goldman Sachs Investors hold an aggregate total of at least 5,213,194 shares of Common Stock (based on the information available at the time of the filing of this Statement). For so long as the Warburg Pincus Investors are entitled to designate at least three directors to the Board, the directors designated by the Warburg Pincus Investors will be entitled to designate the chairman of the Board. Any director designated by either the Warburg Pincus Investors or Goldman Sachs Investors may be removed with or without cause only by the Warburg Pincus Investors or Goldman Sachs Investors, respectively.
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Transfer Restrictions. Until December 22, 2016, and except for transfers to permitted transferees, any transfer of shares of Common Stock by either the Warburg Pincus Investors or the Goldman Sachs Investors will require the prior written consent of each of the Warburg Pincus Investors or Goldman Sachs Investors that have the right to designate at least one director for election to the Board.
Approval Rights. For so long as the Warburg Pincus Investors have the right to designate at least three directors for election to the Board, in addition to any other vote required by applicable law, certain actions required or permitted to be taken by the Issuers stockholders and certain specified corporate transactions may be effected only with the affirmative vote of 75% of the Board, including but not limited to acquisitions or business combination transactions involving any other entity with an enterprise value in excess of $200 million in the aggregate; mergers or other business combinations or other transactions involving a sale of all or substantially all of the Issuers and the Issuers subsidiaries assets or a change in control under the Issuers indebtedness documents and issuance of additional shares of the Issuers or the Issuers subsidiaries capital stock, subject to certain limited exceptions.
The Warburg Pincus Investors and the Goldman Sachs Investors hold an aggregate total of 67,732,391 shares of Common Stock of the Issuer (approximately 48.0% of the outstanding shares of Common Stock of the Issuer), including 15,378,735 shares of Common Stock of the Issuer that are publicly reported as being owned by the Goldman Sachs Investors. The Warburg Pincus Reporting Persons are not entitled to any rights as a shareholder of the Issuer with respect to the shares of Common Stock of the Issuer beneficially owned by the Other Investors except as expressly set forth in the Stockholders Agreement. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) with respect to any shares of Common Stock of the Issuer other than the shares of Common Stock of the Issuer owned of record by such Warburg Pincus Reporting Person. The number of shares of Common Stock of the Issuer owned by each Warburg Pincus Reporting Person as set forth in Rows 7 13 of their respective cover pages to this Schedule 13D does not include the shares of Common Stock of the Issuer owned by the Goldman Sachs Investors or any Other Investors. The Stockholders Agreement is attached hereto as Exhibit 2 and is incorporated herein by reference.
The aggregate total of 15,378,735 shares of Common Stock of the Issuer indicated in this Schedule 13D as being beneficially owned by the Goldman Sachs Investors is derived from the Goldman Sachs Investors Schedule 13G/A, filed with the Commission on February 16, 2016, and is not purported to be an accurate representation of the Goldman Sachs Investors beneficial ownership as of the date of this Schedule 13D. The Goldman Sachs Investors are responsible for reporting their beneficial ownership of shares of Common Stock of the Issuer on their own behalf, and the Warburg Pincus Reporting Persons disclaim responsibility for reporting the shares of Common Stock of the Issuer beneficially owned by the Goldman Sachs Investors.
The last paragraph of the response set forth in Item 4 hereof is incorporated by reference in its entirety.
Pursuant to Rule 13d-1(k)(1) promulgated under the Exchange Act, the Warburg Pincus Reporting Persons have entered into an agreement on September 27, 2016, with respect to the joint filing of this Statement and any amendment or amendments hereto (the Joint Filing Agreement). The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Except as referenced above or described in Item 4 hereof, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 or between such persons and any other person with respect to any securities of the Issuer.
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Item 7. | Material to be Filed as Exhibits |
Exhibit Number |
Description of Exhibits | |
1. | Second Amended and Restated Registration Rights Agreement, dated as of October 24, 2013, by and among the Issuer, the Warburg Pincus Investors and the Other Investors (incorporated by reference to Exhibit 4.2 to the Issuers Quarterly Report on Form 10-Q, filed with the Commission on November 7, 2014, File No. 001-36131). | |
2. | Stockholders Agreement, dated as of October 24, 2013, by and among the Issuer, the Warburg Pincus Investors and the Other Investors (incorporated by reference to Exhibit 4.3 to the Issuers Quarterly Report on Form 10-Q, filed with the Commission on November 7, 2014, File No. 001-36131). | |
99.1 | Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Exchange Act, dated as of September 27, 2016, by and among the Warburg Pincus Reporting Persons. | |
99.2 | Rule 10b5-1 Purchase Plan, dated as of September 13, 2016, by and between the WP X Funds and the Broker. |
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SIGNATURE
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.
Dated: September 27, 2016
WARBURG PINCUS PRIVATE EQUITY X, L.P. |
By: Warburg Pincus X, L.P., its general partner |
By: Warburg Pincus X GP L.P., its general partner |
By: WPP GP LLC, its general partner |
By: Warburg Pincus Partners, L.P., its managing member |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS X PARTNERS, L.P. |
By: Warburg Pincus X, L.P., its general partner |
By: Warburg Pincus X GP L.P., its general partner |
By: WPP GP LLC, its general partner |
By: Warburg Pincus Partners, L.P., its managing member |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WP EXPEDITION CO-INVEST L.P. |
By: Warburg Pincus Partners, L.P., its general partner |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS X, L.P. |
By: Warburg Pincus X GP L.P., its general partner |
By: WPP GP LLC, its general partner |
By: Warburg Pincus Partners, L.P., its managing member |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS X GP L.P. |
By: WPP GP LLC, its general partner |
By: Warburg Pincus Partners, L.P., its managing member |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WPP GP LLC |
By: Warburg Pincus Partners, L.P., its managing member |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS PARTNERS, L.P. |
By: Warburg Pincus Partners GP LLC, its general partner |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS PARTNERS GP LLC |
By: Warburg Pincus & Co., its managing member |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS & CO. |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Partner |
WARBURG PINCUS LLC |
By: /s/ Robert B. Knauss |
Name: Robert B. Knauss |
Title: Managing Director |
CHARLES R. KAYE |
By: /s/ Robert B. Knauss |
Robert B. Knauss, Attorney-in-fact* |
JOSEPH P. LANDY |
By: /s/ Robert B. Knauss |
Robert B. Knauss, Attorney-in-fact* |
* | The Power of Attorney given by each of Mr. Kaye and Mr. Landy was previously filed with the U.S. Securities and Exchange Commission on July 12, 2016 as exhibit 99.3 to the statement on Schedule 13D filed by Warburg Pincus LLC with respect to WEX Inc. and is hereby incorporated by reference. |
INDEX OF EXHIBITS
Exhibit Number |
Description of Exhibits | |
1. | Second Amended and Restated Registration Rights Agreement, dated as of October 24, 2013, by and among the Issuer, the Warburg Pincus Investors and the Other Investors (incorporated by reference to Exhibit 4.2 to the Issuers Quarterly Report on Form 10-Q, filed with the Commission on November 7, 2014, File No. 001-36131). | |
2. | Stockholders Agreement, dated as of October 24, 2013, by and among the Issuer, the Warburg Pincus Investors and the Other Investors (incorporated by reference to Exhibit 4.3 to the Issuers Quarterly Report on Form 10-Q, filed with the Commission on November 7, 2014, File No. 001-36131). | |
99.1 | Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Exchange Act, dated as of September 27, 2016, by and among the Warburg Pincus Reporting Persons. | |
99.2 | Rule 10b5-1 Purchase Plan, dated as of September 13, 2016, by and between the WP X Funds and the Broker. |
SCHEDULE I
Set forth below is the name, position and present principal occupation of each of the general partners of Warburg Pincus & Co. (WP) and members of Warburg Pincus LLC (including its subsidiaries, WP LLC). Except as otherwise indicated, the business address of each of such persons is 450 Lexington Avenue, New York, New York 10017, and each of such persons is a citizen of the United States.
GENERAL PARTNERS OF WP
NAME |
PRESENT PRINCIPAL OCCUPATION IN ADDITION TO POSITION WITH WP, AND POSITIONS WITH THE REPORTING ENTITIES | |
Gregory C. Baecher |
Partner of WP; Member and Managing Director of WP LLC | |
David Barr |
Partner of WP; Member and Managing Director of WP LLC | |
Mark Begor |
Partner of WP; Member and Managing Director of WP LLC | |
Alain J.P. Belda |
Partner of WP; Member and Managing Director of WP LLC | |
Alexander Berzofsky |
Partner of WP; Member and Managing Director of WP LLC | |
Damon Beyer |
Partner of WP; Member and Managing Director of WP LLC | |
Anthony Robert Buonanno |
Partner of WP; Member and Managing Director of WP LLC | |
Thomas Carella |
Partner of WP; Member and Managing Director of WP LLC | |
Mark M. Colodny |
Partner of WP; Member and Managing Director of WP LLC | |
Cary J. Davis |
Partner of WP; Member and Managing Director of WP LLC | |
Joseph Gagnon |
Partner of WP; Member and Managing Director of WP LLC | |
Timothy F. Geithner |
Partner of WP; Member, Managing Director and President of WP LLC | |
Stephanie Geveda |
Partner of WP; Member and Managing Director of WP LLC | |
Steven G. Glenn |
Partner of WP; Member and Managing Director of WP LLC | |
Jeffrey Goldfaden |
Partner of WP; Member and Managing Director of WP LLC | |
Michael Graff |
Partner of WP; Member and Managing Director of WP LLC | |
Christopher Gunther |
Partner of WP; Member and Managing Director of WP LLC | |
Patrick T. Hackett |
Partner of WP; Member and Managing Director of WP LLC | |
Fred Hassan |
Partner of WP; Member and Managing Director of WP LLC | |
William Blake Holden |
Partner of WP; Member and Managing Director of WP LLC | |
Edward Y. Huang |
Partner of WP; Member and Managing Director of WP LLC | |
In Seon Hwang |
Partner of WP; Member and Managing Director of WP LLC | |
William H. Janeway |
Partner of WP; Member and Senior Advisor of WP LLC | |
Kenneth I. Juster |
Partner of WP; Member and Managing Director of WP LLC | |
Peter R. Kagan |
Partner of WP; Member and Managing Director of WP LLC | |
Charles R. Kaye |
Managing General Partner of WP; Managing Member and Co-Chief Executive Officer of WP LLC | |
Robert B. Knauss |
Partner of WP; Member and Managing Director of WP LLC | |
David B. Krieger |
Partner of WP; Member and Managing Director of WP LLC | |
Rajveer Kushwaha |
Partner of WP; Member and Managing Director of WP LLC | |
Joseph P. Landy |
Managing General Partner of WP; Managing Member and Co-Chief Executive Officer of WP LLC | |
James Levy |
Partner of WP; Member and Managing Director of WP LLC | |
Frank Marinaro |
Partner of WP; Member and Managing Director of WP LLC | |
Harsha Marti |
Partner of WP; Member and Managing Director of WP LLC | |
Michael Martin |
Partner of WP; Member and Managing Director of WP LLC | |
Vishnu Menon |
Partner of WP; Member and Managing Director of WP LLC | |
James Neary |
Partner of WP; Member and Managing Director of WP LLC | |
Jeffrey Perlman |
Partner of WP; Member and Managing Director of WP LLC | |
Chandler Reedy |
Partner of WP; Member and Managing Director of WP LLC |
John Rowan |
Partner of WP; Member and Managing Director of WP LLC | |
Justin L. Sadrian |
Partner of WP; Member and Managing Director of WP LLC | |
Adarsh Sarma |
Partner of WP; Member and Managing Director of WP LLC | |
John W. Shearburn |
Partner of WP; Member and Managing Director of WP LLC | |
Ashutosh Somani |
Partner of WP; Member and Managing Director of WP LLC | |
David Sreter |
Partner of WP; Member and Managing Director of WP LLC | |
Christopher H. Turner |
Partner of WP; Member and Managing Director of WP LLC | |
James W. Wilson |
Partner of WP; Member and Managing Director of WP LLC | |
Daniel Zamlong |
Partner of WP; Member and Managing Director of WP LLC | |
Daniel Zilberman |
Partner of WP; Member and Managing Director of WP LLC | |
WP & Co. Partners, L.P.* |
||
Warburg Pincus Principal Partnership, L.P.** |
* | New York limited partnership; primary activity is ownership interest in WP |
** | Delaware limited partnership; primary activity is ownership interest in WP |
MEMBERS OF WP LLC
NAME |
PRESENT PRINCIPAL OCCUPATION IN ADDITION TO POSITION WITH WP LLC, AND POSITIONS WITH THE REPORTING ENTITIES | |
Jonas Agesand (1) |
Member and Managing Director of WP LLC | |
Gregory C. Baecher |
Member and Managing Director of WP LLC; Partner of WP | |
Bo Bai |
Member and Managing Director of WP LLC; Partner of WP | |
David Barr |
Member and Managing Director of WP LLC; Partner of WP | |
Mark Begor |
Member and Managing Director of WP LLC; Partner of WP | |
Alain J.P. Belda |
Member and Managing Director of WP LLC; Partner of WP | |
Alexander Berzofsky |
Member and Managing Director of WP LLC; Partner of WP | |
Paul Best (2) |
Member and Managing Director of WP LLC | |
Damon Beyer |
Member and Managing Director of WP LLC; Partner of WP | |
Peder Bratt (2) |
Member and Managing Director of WP LLC | |
Anthony Robert Buonanno |
Member and Managing Director of WP LLC; Partner of WP | |
Thomas Carella |
Member and Managing Director of WP LLC; Partner of WP | |
Julian Cheng (3) |
Member and Managing Director of WP LLC | |
Mark M. Colodny |
Member and Managing Director of WP LLC; Partner of WP | |
Timothy J. Curt |
Managing Director of WP LLC; | |
Cary J. Davis |
Member and Managing Director of WP LLC; Partner of WP | |
Yi Ding (4) |
Member and Managing Director of WP LLC | |
Simon Eyers (2) |
Member and Managing Director of WP LLC | |
Min Fang (4) |
Member and Managing Director of WP LLC | |
Max Fowinkel (5) |
Member and Managing Director of WP LLC | |
Joseph Gagnon |
Member and Managing Director of WP LLC; Partner of WP | |
Timothy F. Geithner |
Member, Managing Director and President of WP LLC; Partner of WP | |
Stephanie Geveda |
Member and Managing Director of WP LLC; Partner of WP | |
Steven G. Glenn |
Member and Managing Director of WP LLC; Partner of WP | |
Jeffrey G. Goldfaden |
Member and Managing Director of WP LLC; Partner of WP | |
Michael Graff |
Member and Managing Director of WP LLC; Partner of WP | |
Christopher Gunther |
Member and Managing Director of WP LLC; Partner of WP | |
Patrick T. Hackett |
Member and Managing Director of WP LLC; Partner of WP | |
Fred Hassan |
Member and Senior Advisor of WP LLC; Partner of WP | |
William Blake Holden |
Member and Managing Director of WP LLC; Partner of WP | |
Edward Y. Huang |
Member and Managing Director of WP LLC; Partner of WP | |
In Seon Hwang |
Member and Managing Director of WP LLC; Partner of WP | |
William H. Janeway |
Member and Senior Advisor of WP LLC; Partner of WP | |
Kenneth I. Juster |
Member and Managing Director of WP LLC; Partner of WP | |
Peter R. Kagan |
Member and Managing Director of WP LLC; Partner of WP | |
Charles R. Kaye |
Managing Member and Co-Chief Executive Officer of WP LLC; Managing General Partner of WP | |
Robert B. Knauss |
Member and Managing Director of WP LLC; Partner of WP | |
David B. Krieger |
Member and Managing Director of WP LLC; Partner of WP | |
Rajveer Kushwaha |
Member and Managing Director of WP LLC; Partner of WP | |
Joseph P. Landy |
Managing Member and Co-Chief Executive Officer of WP LLC; Managing General Partner of WP | |
James Levy |
Member and Managing Director of WP LLC; Partner of WP | |
Vishal Mahadevia |
Member and Managing Director of WP LLC | |
Niten Malhan (6) |
Member and Managing Director of WP LLC | |
Frank Marinaro |
Member and Managing Director of WP LLC; Partner of WP | |
Harsha Marti |
Member and Managing Director of WP LLC; Partner of WP |
Michael Martin |
Member and Managing Director of WP LLC; Partner of WP | |
Vishnu Menon |
Member and Managing Director of WP LLC; Partner of WP | |
Piero Minardi (7) |
Member and Managing Director of WP LLC | |
Nitin Nayar |
Member and Managing Director of WP LLC | |
James Neary |
Member and Managing Director of WP LLC; Partner of WP | |
Hoi Ying Ng (3) |
Member and Managing Director of WP LLC | |
René Obermann (5) |
Member and Managing Director of WP LLC | |
Narendra Ostawal (6) |
Member and Managing Director of WP LLC | |
Jeffrey Perlman |
Member and Managing Director of WP LLC; Partner of WP | |
Chandler Reedy |
Member and Managing Director of WP LLC; Partner of WP | |
John Rowan |
Member and Managing Director of WP LLC; Partner of WP | |
Justin L. Sadrian |
Member and Managing Director of WP LLC; Partner of WP | |
Anish Saraf (6) |
Member and Managing Director of WP LLC | |
Adarsh Sarma |
Member and Managing Director of WP LLC; Partner of WP | |
Viraj Sawhney (6) |
Member and Managing Director of WP LLC | |
Joseph C. Schull (8) |
Member and Managing Director of WP LLC | |
John W. Shearburn |
Member and Managing Director of WP LLC; Partner of WP | |
Ashutosh Somani |
Member and Managing Director of WP LLC; Partner of WP | |
David Sreter |
Member and Managing Director of WP LLC; Partner of WP | |
Biddanda N. Thimmaya (6) |
Member and Managing Director of WP LLC | |
Christopher H. Turner |
Member and Managing Director of WP LLC; Partner of WP | |
Somit Varma |
Member and Managing Director of WP LLC; Partner of WP | |
Zhen Wei (3) |
Member and Managing Director of WP LLC | |
James W. Wilson |
Member and Managing Director of WP LLC; Partner of WP | |
Daniel Zamlong |
Member and Managing Director of WP LLC; Partner of WP | |
Langlang Zhou (4) |
Member and Managing Director of WP LLC | |
Daniel Zilberman |
Member and Managing Director of WP LLC; Partner of WP |
(1) | Citizen of Sweden |
(2) | Citizen of United Kingdom |
(3) | Citizen of Hong Kong |
(4) | Citizen of China |
(5) | Citizen of Germany |
(6) | Citizen of India |
(7) | Citizen of Italy |
(8) | Citizen of Canada |
As of September 1, 2016
EXHIBIT 99.1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of the foregoing Statement on Schedule 13D with respect to the common shares of Endurance International Group Holdings, Inc. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that it knows or has reason to believe that such information is inaccurate. This Agreement may be executed in any number of counterparts and all such counterparts taken together shall constitute one and the same instrument.
Dated: September 27, 2016
WARBURG PINCUS PRIVATE EQUITY X, L.P. | ||
By: | Warburg Pincus X, L.P., its general partner | |
By: | Warburg Pincus X GP L.P., its general partner | |
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS X PARTNERS, L.P. | ||
By: | Warburg Pincus X, L.P., its general partner | |
By: | Warburg Pincus X GP L.P., its general partner | |
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: |
/s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WP EXPEDITION CO-INVEST L.P. | ||
By: | Warburg Pincus Partners, L.P., its general partner | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS X, L.P. | ||
By: | Warburg Pincus X GP L.P., its general partner | |
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS X GP L.P. | ||
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WPP GP LLC | ||
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS PARTNERS, L.P. | ||
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS PARTNERS GP LLC | ||
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner |
WARBURG PINCUS & CO. | ||
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Partner | ||
WARBURG PINCUS LLC | ||
By: | /s/ Robert B. Knauss | |
Name: Robert B. Knauss | ||
Title: Managing Director | ||
CHARLES R. KAYE | ||
By: | /s/ Robert B. Knauss | |
Robert B. Knauss, Attorney-in-fact* | ||
JOSEPH P. LANDY | ||
By: | /s/ Robert B. Knauss | |
Robert B. Knauss, Attorney-in-fact* |
* | The Power of Attorney given by each of Mr. Kaye and Mr. Landy was previously filed with the U.S. Securities and Exchange Commission on July 12, 2016 as exhibit 99.3 to the statement on Schedule 13D filed by Warburg Pincus LLC with respect to WEX Inc. and is hereby incorporated by reference. |
EXHIBIT 99.2
Rule 10b5-1 Purchase Plan
September 13, 2016
Craig Wiele
Managing Director, Equity Capital Markets
Credit Suisse Securities (USA) LLC
11 Madison Avenue, 3rd Floor
New York, NY 10010
Ladies and Gentlemen:
This plan (the Plan) will confirm the agreement between Warburg Pincus Private Equity X, L.P. and Warburg Pincus X Partners, L.P. (collectively, the Client) and Credit Suisse Securities (USA) LLC (Credit Suisse) pursuant to which Credit Suisse has been appointed by the Client to purchase shares of Endurance International Group Holdings, Inc. (the Issuer) named in Exhibit A (the Shares). This Plan is being established by the Client and is intended to qualify for the affirmative defense provided by Rule 10b5-1 (Rule 10b5-1) under the Securities Exchange Act of 1934, as amended (the Exchange Act)
1. | This Plan shall become effective on the date hereof and shall end on the earliest to occur of the following dates: (i) the date on which the aggregate number of the Shares purchased by Credit Suisse in accordance with this Plan equals the Maximum Value of Shares specified in Exhibit A hereto; (ii) the date on which any voluntary or involuntary case or other proceeding is commenced seeking liquidation, reorganization or other relief against the Client under any bankruptcy, insolvency or similar law or seeking the appointment of a trustee, receiver or other similar official, or the taking of any corporate action by the Client to authorize or commence any of the foregoing; (iii) in accordance with Section 5(a), the end of the business day (unless another time is specified in writing) following the date of receipt by Credit Suisse of notice of early termination substantially in the form of Exhibit B hereto; (iv) the end of the business day (unless another time is specified in writing) following the date of receipt by the Client of a notice of termination by Credit Suisse for failure of the Client to perform its payment obligations under the Plan and (v) the end of the business day on the Termination Date specified in Exhibit A hereto. The Client will provide Credit Suisse with immediate notice should an event under subsection (ii) of this paragraph occur. |
2. | Credit Suisse shall purchase Shares on each day on which The NASDAQ Global Select Market is open for trading and the Shares trade regular way on such exchange commencing on the date specified and as per instructions set forth in Exhibit A. |
3. | The Client hereby covenants and agrees that it will not take any action that would result in any purchases of Shares by Credit Suisse hereunder to fail to be in accordance with Rule 10b5-1. |
4. | The Client understands and agrees that all purchases of Shares under the Plan will be made in accordance with the provisions of Rule 10b-18. |
5. | (a) The Client reserves the right to terminate this Plan or the appointment of Credit Suisse hereunder at any time by giving one business days (defined as a day on which the primary stock exchange or quotation system on which the Shares are listed or quoted is open) advance written notice to Credit Suisse in accordance with Exhibit B. |
(b) The Client acknowledges and agrees that notwithstanding anything in paragraph 5(a) herein to the contrary, any suspension, termination or amendment of this Plan by the Client must comply with the requirements for the amendment or termination of a plan as defined in Rule 10b5-1(c).
6. | It is the intent of the parties that this Plan comply with the requirements of Rule 10b5-1(c)(1)(i)(B) and this Plan shall be interpreted to comply with the requirements of Rule 10b5-1(c). |
7. | As of the date of this Plan, the Client is not aware of any material nonpublic information regarding the Issuer or the Shares and is not subject to any legal, regulatory or contractual restriction or undertaking that would prevent Credit Suisse from acting upon the instructions set forth in this Plan. The Client shall immediately notify Credit Suisse if it becomes aware of a legal, regulatory or contractual restriction or undertaking that would prevent Credit Suisse from making purchases pursuant to this Plan. |
8. | The Client is entering into this Plan in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1 or any other United States federal securities laws. |
9. | The Client will not, while this Plan remains in effect, alter or deviate from the terms of this Plan, and it has not entered into, and will not enter into or alter, any corresponding or hedging transaction or position with respect to the Shares (including with respect to any securities convertible into or exchangeable for the Shares). |
10. | The Client is not entering into this Plan (i) to manipulate the price of the Shares (or any security convertible into or exchangeable or exercisable for Shares) or (ii) for any other purpose in violation of applicable federal or state law. |
11. | Until the termination of this Plan, the Client agrees not to discuss with Credit Suisses Monetization Services Group, which is responsible for purchases under this Plan, or any other Credit Suisse trading personnel, the Issuers business, operations or prospects or any other information likely to affect the value of the Shares. Notwithstanding the above, the Client may communicate with Credit Suisse personnel who are not trading personnel and who are not responsible for, and have no ability to influence, the execution of this Plan, provided that no such communication may relate to this Plan or to the activities of Credit Suisse hereunder. |
Subject to the terms set forth in this Plan, Credit Suisse shall have full discretion with respect to the execution of all purchases, and the Client acknowledges and agrees that it does not have, and shall not attempt to exercise, any influence over how, when or whether to effect such purchases of Shares pursuant to this Plan.
12. | Credit Suisse agrees to provide the Client with reports of all purchases made pursuant to this Plan within one day of the execution of any such purchase. Such reports and confirmations may be in the form of electronic mail, facsimile or other written correspondence. |
13. | This Plan (i) has been duly authorized by the Client; (ii) is a valid and binding agreement of the Client, enforceable in accordance with its terms; and (iii) is not, to the Clients knowledge, prohibited or restricted by any legal, regulatory or contractual restriction or undertaking binding on the Client or any of its subsidiaries or any of its or their property or assets. |
14. | The Client has consulted its own advisors as to legal, tax, business, financial and other relevant aspects of, and has not relied upon Credit Suisse in connection with, the Clients adoption of this Plan, and the Client acknowledges that Credit Suisse is not acting as a fiduciary or an advisor for the Client. Except as specifically contemplated herein, the Client shall be solely responsible for compliance with all statutes, rules and regulations applicable to the Client and the transactions contemplated hereby, including, without limitation, reporting and filing requirements. |
15. | The Client understands that, while the Credit Suisse Monetization Services Group is executing transactions on behalf of the Client pursuant to this Plan, other desks at Credit Suisse that are not participating in such transactions and are unaware of Client purchases may continue to make a market in the Shares or other securities of the Issuer or otherwise trade the Shares or such other securities for Credit Suisses own account or to facilitate customer transactions. Nothing herein shall preclude the purchase or sale by Credit Suisse of Shares or other securities of the Issuer for its own account or its solicitation or execution of orders for the account of any client. Credit Suisse hereby represents and warrants that it has implemented reasonable policies and procedures, taking into consideration the nature of Credit Suisses business, to ensure that individuals making investment decisions will not violate the laws prohibiting trading on the basis of material, nonpublic information. |
16. | This Plan shall be governed by and construed in accordance with the laws of the State of New York, without regard to such States conflict of laws rules to the extent such rules may result in the application of the law of any other state or jurisdiction. |
17. | Except as otherwise provided herein, any notice required or permitted by this Plan will be deemed sufficient if in writing and if actually delivered or sent by certified mail (postage prepaid and return receipt requested), recognized courier service, facsimile (with confirmation receipt) or electronic mail addressed: |
(a) | If to the Client, to: |
Warburg Pincus LLC
450 Lexington Avenue
New York, NY 10017
Email: notices@warburgpincus.com
With a copy to:
Sandra L. Flow
Cleary Gottlieb Steen & Hamilton LLP
One Liberty Plaza
New York, NY 10006
Facsimile: +1 212 225-3999
Email: sflow@cgsh.com
(b) | If to Credit Suisse, to: |
Credit Suisse Securities (USA) LLC
11 Madison Avenue, 3rd Floor
New York, NY 10010
Attn: Craig Wiele, Managing Director, Equity Capital Markets
Facsimile: +1 212 743-3764
Email: craig.wiele@credit-suisse.com
If any communication is sent in the form of electronic mail to the email addresses set forth in this Plan, such communication shall be deemed received at the time at which it is sent.
18. | This Plan will be binding upon, and inure to the benefit of, the Client and its successors and permitted assigns and Credit Suisse and its successors and permitted assigns. Neither the Client nor Credit Suisse may assign this Plan without the written consent of the other, and any attempted assignment without consent shall be void. |
19. | The Client and Credit Suisse acknowledge and agree that this Agreement is a securities contract, as such term is defined in Section 741(7) of Title 11 of the United States Code (the Bankruptcy Code), entitled to all of the protections given such contracts under the Bankruptcy Code. |
20. | This Plan (including Exhibit A) constitutes the entire agreement between Credit Suisse and the Client with respect to the subject matter hereof, and supersedes any previous or contemporaneous agreements, understandings, proposals or promises with respect thereto, whether written or oral and may be modified or amended only by a writing signed by such parties. |
21. | This Plan may be signed in any number of counterparts, each of which shall be deemed to be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. |
Please indicate your understanding of and agreement to the foregoing by executing and returning a counterpart hereof.
Sincerely, | ||
WARBURG PINCUS PRIVATE EQUITY X, L.P. | ||
By: | Warburg Pincus X, L.P., its general partner | |
By: | Warburg Pincus X GP L.P., its general partner | |
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Chandler Reedy | |
Name: Chandler Reedy | ||
Title: Managing Director |
WARBURG PINCUS X PARTNERS, L.P. | ||
By: | Warburg Pincus X, L.P., its general partner | |
By: | Warburg Pincus X GP L.P., its general partner | |
By: | WPP GP LLC, its general partner | |
By: | Warburg Pincus Partners, L.P., its managing member | |
By: | Warburg Pincus Partners GP LLC, its general partner | |
By: | Warburg Pincus & Co., its managing member | |
By: | /s/ Chandler Reedy | |
Name: Chandler Reedy | ||
Title: Managing Director |
ACCEPTED AND AGREED TO AS OF THE ABOVE DATE: | ||
Credit Suisse Securities (USA) LLC | ||
By: | /s/ Craig Wiele | |
Name: | Craig Wiele | |
Title: | Managing Director |