-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EJ9HbUV/IN3jPriAGYol6ZRDXkKCHepF60bE8CVYcV8AGfuyN+XMOK1kVl7t4MG0 okmlaRv3EPBsT8EK0621jw== 0000950152-99-007398.txt : 19990908 0000950152-99-007398.hdr.sgml : 19990908 ACCESSION NUMBER: 0000950152-99-007398 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19990907 GROUP MEMBERS: HARRIS CORP /DE/ GROUP MEMBERS: SPACE COAST MERGER CORP. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PACIFIC RESEARCH & ENGINEERING CORP CENTRAL INDEX KEY: 0001007583 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 952638420 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-49995 FILM NUMBER: 99706916 BUSINESS ADDRESS: STREET 1: 2070 LAS PALMAS DR CITY: CARLSBAD STATE: CA ZIP: 92008 BUSINESS PHONE: 6194383911 MAIL ADDRESS: STREET 1: 2070 LAS PALMAS DR CITY: CARLSBAD STATE: CA ZIP: 92008 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PACIFIC RESEARCH & ENGINEERING CORP CENTRAL INDEX KEY: 0001007583 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 952638420 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A SEC ACT: SEC FILE NUMBER: 005-49995 FILM NUMBER: 99706917 BUSINESS ADDRESS: STREET 1: 2070 LAS PALMAS DR CITY: CARLSBAD STATE: CA ZIP: 92008 BUSINESS PHONE: 6194383911 MAIL ADDRESS: STREET 1: 2070 LAS PALMAS DR CITY: CARLSBAD STATE: CA ZIP: 92008 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS CORP /DE/ CENTRAL INDEX KEY: 0000202058 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 340276860 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 BUSINESS PHONE: 4077279125 MAIL ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 FORMER COMPANY: FORMER CONFORMED NAME: HARRIS SEYBOLD CO DATE OF NAME CHANGE: 19600201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HARRIS CORP /DE/ CENTRAL INDEX KEY: 0000202058 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 340276860 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 BUSINESS PHONE: 4077279125 MAIL ADDRESS: STREET 1: 1025 W NASA BLVD CITY: MELBOURNE STATE: FL ZIP: 32919 FORMER COMPANY: FORMER CONFORMED NAME: HARRIS SEYBOLD CO DATE OF NAME CHANGE: 19600201 SC 14D1/A 1 PACIFIC RESEARCH & ENG.|HARRIS SC 14D1/A & 13D/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------ AMENDMENT NO. 1* TO SCHEDULE 14D-1 Tender Offer Statement Pursuant to Section 14(d)(1) of the Securities Exchange Act of 1934 and SCHEDULE 13D Under the Securities Exchange Act of 1934 --------- PACIFIC RESEARCH & ENGINEERING CORPORATION (Name of Subject Company) ------------------ SPACE COAST MERGER CORP. a wholly owned subsidiary of HARRIS CORPORATION (Bidders) ------------- Common Stock, no par value Shareholder Warrants to Purchase Shares of Common Stock Representative Warrants to Purchase Shares of Common Stock and Shareholder Warrants The Executive Warrant to Purchase Shares of Common Stock (Title of Classes of Securities) ------------------ Shares of Common Stock: 694932104 Representative Warrant: N/A Shareholder Warrants: 694932112 Executive Warrant: N/A (CUSIP Number of Classes of Securities) ------------------ Scott T. Mikuen, Assistant Secretary Harris Corporation 1025 W. NASA Boulevard Melbourne, Florida 32919 (407) 727-9100 (Name, address and telephone number of person authorized to receive notices and communications on behalf of bidders) COPY TO Sidley & Austin One First National Plaza Chicago, Illinois 60603 (312) 853-7000 Attention: Jim L. Kaput August 9, 1999 (Date Tender Offer First Published, Sent or Given to Security Holders) *Constituting the final amendment to Schedules 14D-1 and 13D --------- 2 Space Coast Merger Corp., a California corporation (the "Offeror") and a wholly owned subsidiary of Harris Corporation, a Delaware corporation ("Harris"), and Harris hereby amend and supplement their Tender Offer Statement on Schedule 14D-1 (as amended, the "Schedule 14D-1") and statement on Schedule 13D, originally filed on August 9, 1999, with respect to their offer to purchase (i) all outstanding shares of Common Stock, no par value (the "Shares") of Pacific Research & Engineering Corporation, a California corporation (the "Company"), at a purchase price of $2.35 per Share, (ii) any and all issued and outstanding warrants issued by the Company pursuant to the Warrant Agreement, dated as of May 28, 1996, by and between the Company and Wells Fargo Bank N.A. as Warrant Agent of the Company (the "Shareholder Warrants"), at a purchase price of $0.15 per Shareholder Warrant, (iii) any and all issued and outstanding warrants issued to representatives of Nutmeg Securities, Ltd. pursuant to the Representative's Warrant to Purchase Units of Common Stock and Redeemable Warrants, each dated as of May 31, 1996, by and between the Company and each of John Lane, Daniel Guilfoile, Matthew Rochlin, Gayle Aufderhide, Cathy Mayberry and Stephen Marchese (the "Representative Warrants"), at a purchase price of $0.15 per each Share underlying such Representative Warrant and (iv) the issued and outstanding warrant issued to John W. Barrett pursuant to the Warrant to Purchase Common Stock of the Company, by and between John W. Barrett and the Company (the "Executive Warrant"), at a purchase price of $0.15 per each Share underlying the Executive Warrant, in each case, net to the seller in cash, without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated August 9, 1999 and in the related Letter of Transmittal, copies of which have been filed as Exhibits (a)(1) and (a)(2) to the Schedule 14D-1, respectively. Capitalized terms not defined herein have the meanings assigned thereto in the Schedule 14D-1 filed on August 9, 1999. ITEM 6. INTEREST IN SECURITIES OF THE SUBJECT COMPANY. At 12:00 Midnight, New York City time, on September 3, 1999, the Offer expired. On September 7, 1999, the Offeror accepted for payment a total of 2,108,550 Shares, 402,072 Shareholder Warrants, five Representative Warrants and the Executive Warrant validly tendered pursuant to the Offer and not withdrawn prior to the expiration of the Offer, including 55,940 Shares, 8,700 Shareholder Warrants, one Representative Warrant and the Executive Warrant tendered pursuant to guaranteed delivery for which timely delivery of all required documents is necessary. The 2,108,550 Shares accepted for payment by the Offeror represent approximately 91.5 percent of the Shares outstanding on September 3, 1999. The press release issued by Harris on September 7, 1999 relating to the acceptance of such tendered securities is attached hereto as Exhibit (a)(10) and is incorporated herein by reference. ITEM 10. ADDITIONAL INFORMATION. A copy of the press release issued by Harris on September 7, 1999 is filed as Exhibit (a)(10) to the Schedule 14D-1 and is incorporated herein by reference. ITEM 11. MATERIAL TO BE FILED AS EXHIBITS. (a)(10) Press Release issued by Harris on September 7, 1999. 3 SIGNATURE AFTER DUE 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 7, 1999 HARRIS CORPORATION By: /s/ Richard L. Ballantyne ------------------------------------ Name: Richard L. Ballantyne Title: Vice President - General Counsel and Corporate Secretary SPACE COAST MERGER CORP. By: /s/ Richard L. Ballantyne ------------------------------------ Name: Richard L. Ballantyne Title: Vice President and Secretary 4 EXHIBIT INDEX Exhibit No. Exhibit - ----------- ------- (a)(10) Press release issued by Harris on September 7, 1999. EX-10.A 2 EXHIBIT (A)(10) 1 Exhibit (a)(10) HARRIS CORPORATION ANNOUNCES COMPLETION OF CASH TENDER OFFER FOR PACIFIC RESEARCH & ENGINEERING CORPORATION MELBOURNE, FL, September 7, 1999 - Harris Corporation (NYSE: HRS) today announced that its has completed its cash tender offer for Pacific Research & Engineering Corporation, a developer of analog and digital radio studio systems. Harris has accepted common shares and warrants tendered pursuant to its cash tender offer for all outstanding common shares at a price of $2.35 per share, all outstanding publicly-traded warrants at a price of $0.15 per warrant, and certain other warrants at a price of $0.15 per each common share underlying such warrants of Pacific Research & Engineering Corporation (ASE: PXE). Harris has been advised by ChaseMellon Shareholder Services, L.L.C., the depositary for the tender offer, that approximately 2,105,550 shares of PR&E common stock (in excess of 91% of the outstanding shares of voting common stock), 402,072 publicly-traded warrants and in excess of 99% of the other outstanding warrants had been validly tendered and not withdrawn, including pursuant to guaranteed delivery procedures. "This transaction unites two successful radio businesses and reinforces Harris' commitment to supply a complete range of solutions including advanced studio solutions to radio stations worldwide," said Jim Woods, vice president, radio systems business unit of Harris Broadcast Communications Division. "PR&E is a recognized industry leader in the design, development and integration of analog and digital radio studio solutions. Their complete range of analog and digital audio consoles have defined performance and reliability in the studio. Coupled with Harris' extensive sales and distribution channels as well as our systems design and integration capabilities, this acquisition brings together two companies with proven custom engineering, integration and customer service that will ultimately provide radio broadcasters a comprehensive range of analog and digital broadcast equipment and systems. PR&E also provides Harris' Broadcast Communications Division a solid base of operations on the west coast." The tendered shares and warrants will be purchased by a Harris subsidiary. It is expected that such subsidiary will be merged into PR&E, with each share of PR&E not tendered being converted into the right to receive $2.35 in cash. Each warrant not tendered shall become exercisable into the right to receive $2.35 upon payment by the holder of the 2 exercise price per share of each warrant, but, in all cases, the exercise price per share of each warrant exceeds $2.35. The merger is expected to be effective by the end of this month. Harris is an international communications equipment company focused on providing product, system and service solutions that take its customers to the next level. The company provides a wide range of products and services for commercial and government communications markets such as wireless, broadcast, government and network support. The company has sales and services in nearly 90 countries. HARRIS MEDIA INQUIRIES: Tom Hausman (407) 727-9131 HARRIS INVESTOR RELATIONS INQUIRIES: Pamela Padgett (407) 727-9384 -----END PRIVACY-ENHANCED MESSAGE-----