-----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, TKrVJT5SQ/qGMpysDVLUovk2ImVzmZc0H54ldmZBLca1Zvkt5qs8Ky0qR8Hw026o 7Ge7dWXR0i0L5xIKYQeRTw== 0000950123-02-001664.txt : 20020414 0000950123-02-001664.hdr.sgml : 20020414 ACCESSION NUMBER: 0000950123-02-001664 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20020215 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WHEELER THOMAS M CENTRAL INDEX KEY: 0001167579 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1217 CERRITO BELLO ROAD CITY: EL PASO STATE: TX ZIP: 79912 MAIL ADDRESS: STREET 1: 1217 CERRITO BELLO ROAD CITY: EL PASO STATE: TX ZIP: 79912 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SMTEK INTERNATIONAL INC CENTRAL INDEX KEY: 0000026987 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 330213512 STATE OF INCORPORATION: DE FISCAL YEAR END: 0702 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-15784 FILM NUMBER: 02551691 BUSINESS ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: THOUSAND OAKS STATE: CA ZIP: 91320 BUSINESS PHONE: 8053762595 MAIL ADDRESS: STREET 1: 2151 ANCHOR COURT CITY: HOUSAND OAKS STATE: CA ZIP: 91320 FORMER COMPANY: FORMER CONFORMED NAME: DDL ELECTRONICS INC DATE OF NAME CHANGE: 19940119 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES DATE OF NAME CHANGE: 19880817 FORMER COMPANY: FORMER CONFORMED NAME: DATA DESIGN LABORATORIES INC DATE OF NAME CHANGE: 19920703 SC 13D/A 1 y57690a2sc13da.txt AMENDMENT #2 TO SCHEDULE 13D: SMTEK/WHEELER SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 2) SMTEK International, Inc. --------------------------------- (Name of Issuer) Common Stock (Par value $.01) --------------------------------- (Title of Class of Securities) 832688 20 4 ----------------- (CUSIP Number) Thomas M. Wheeler, 1217 Cerrito Bello Road, El Paso, TX 79912 (915) 584-8671 ---------------------------------------------------------- Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 30, 2002 ------------------------------------------ (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 l3D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. CUSIP No. 832688 20 4 13D Amendment No. 2 1. Name of reporting person Thomas M. Wheeler 2. Check the appropriate box if a member of a group (a)[ ] (b)[x] 3. SEC use only 4. Source of funds PF 5. Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) [ ] 6. Citizenship or place of organization U.S. Citizen 7. Number of shares beneficially owned by each reporting person with sole voting power 881,812 8. Number of shares beneficially owned by each reporting person with shared voting power -0- 9. Number of shares beneficially owned by each reporting person with sole dispositive power 881,812 10. Number of shares beneficially owned by each reporting person with shared dispositive power -0- 11. Aggregate amount beneficially owned by each reporting person 881,812 shares 12. Check box if the aggregate amount in Row 11 excludes certain shares [ ] 13. Percent of class presented by amount in Row 11 Approximately 38.6% 14. Type of reporting person IN Item 1. Security and Issuer This Amendment No. 2 to Schedule 13D further amends and restates Amendment No. 1 to the Schedule 13D which was filed by Mr. Wheeler on May 21, 1999 relating to the Common Stock, par value $.01 per share ("Company Common Stock"), of SMTEK International, Inc., a Delaware corporation (the "Company"). The Company's principal executive offices are located at 2151 Anchor Court, Thousand Oaks, CA 91320. Item 2. Identity and Background. (a) The name of the person filing this schedule is Thomas M. Wheeler. (b) Mr. Wheeler's address is 1217 Cerrito Bello Road, El Paso, TX 79912. (c) Mr. Wheeler's present principal occupation is private investor. (d) During the past five years, Mr. Wheeler has not been convicted in any criminal proceeding. (e) During the past five years, Mr. Wheeler has not been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction and as a 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) Mr. Wheeler is a citizen of the United States Item 3. Source and Amount of Funds or Other Consideration. Mr. Wheeler acquired the Company Common Stock covered by this Amendment for cash consideration in the amount of $4.5 million. Item 4. Purpose of Transaction On May 21, 1999, Mr. Wheeler purchased 11,250,000 shares of common stock, par value $.01 per share (the "Shares"), of the Company pursuant to a Stock Subscription Agreement, dated March 4, 1999, for the purpose of acquiring a significant equity position in the Company. Mr. Wheeler's purchase of the Shares was approved by the Company's common stockholders on May 20, 1999. Mr. Wheeler purchased the Shares for a cash purchase price of $4,500,000 pursuant to the Stock Subscription Agreement. As a result of that purchase, Mr. Wheeler's interest in the Company increased to approximately 38.6% of the total outstanding shares of Company Common Stock. The Shares were split in a 1-for-20 reverse stock split effective May 24, 1999, which resulted in Mr. Wheeler owning 881,812 shares of Common Stock. The Shares are "restricted securities" as defined in the Securities Act of 1933. Unless registered for resale, the Shares must be held by Mr. Wheeler and may not be resold except in compliance with the resale requirements of Rule 144 under the Securities Act of 1933. Pursuant to the Stock Subscription Agreement, Mr. Wheeler has registration rights for the registration of the Shares in the next registration statement filed by the Company with the Securities and Exchange Commission that would permit the inclusion of the Shares. As a result of his ownership, and because the Company's certificate of incorporation permits stockholders to cumulate their votes for the election of directors, Mr. Wheeler has a high degree of voting power. Such voting power may give Mr. Wheeler a great ability to influence the policies of management and to increase his representation on the Company's board of directors. Mr. Wheeler recommended Oscar B. Marx III and Mr. James Burgess for election to the board of directors, and they subsequently were elected to serve on the Company's board of directors by the shareholders of the Company. Mr. Wheeler may determine to increase the number of directors representing his interests on the board of directors to a majority of the board. In addition to obtaining effective or actual control of the Company through increasing his board representation, Mr. Wheeler may from time to time, through open market purchases or privately negotiated transactions, determine to increase his aggregate ownership interest in the Company to an amount in excess of 50% of the outstanding shares, thus obtaining outright voting control of the Company. Alternatively, Mr. Wheeler may determine to sell some or all of his Shares in one or more registered or privately negotiated transactions from time to time, depending on general market and other economic conditions. In addition, Mr. Wheeler may determine to increase his percentage ownership of the Company to a control interest and then sell that control interest to a third party. At the present time, Mr. Wheeler does not have any specific plans or proposals either to increase his interests in, or sell any of his shares of the Company. On January 30, 2002, exploratory discussions were commenced by the Company relating to a possible merger between the Company and Electronic Product Integration Corporation ("EPI"). Three of Mr. Wheeler's adult children own an aggregate of 70% of the outstanding shares of common stock of EPI. Additionally, Mr. Wheeler owns 62% of the voting stock of TMW Enterprises, Inc. ("TMW"), and each of his three adult children own a minority interest in TMW. Further, TMW holds an aggregate of $3.085 million in principal amount of subordinated notes issued by EPI. In Amendment No. 1 to this Schedule 13D, Mr. Wheeler reported that he had no current plans or proposals to influence or cause the Company to merge with a third party or any of his affiliates, but may determine to do so in the future based on an evaluation of the Company's business, prospects and financial condition as well as the strategic and operating fit between the Company and a third party or one of his other companies. These exploratory merger discussions were initiated by the Company's board of directors. However, there can be no assurance that these exploratory discussions will lead to a definitive merger agreement between the Company and EPI, or that any such merger agreement would be approved by the boards of directors and shareholders under applicable law. Even if a definitive merger agreement were to be approved by the boards of directors and shareholders of the Company and EPI, there can be no assurance that a transaction would be consummated. Alternatively, based upon general market economic conditions, as well as the Company's operating performance and prospects, Mr. Wheeler may determine to cause the Company to enter into a corporate restructuring or recapitalization, which may cause changes in its balance sheet and which may constitute a "going private transaction" under the Securities Exchange Act of 1934. For estate planning purposes, Mr. Wheeler has transferred the Shares to a revocable trust as to which he is the grantor and sole trustee. The revocable trust is styled "Trust u/a dtd April 9, 1996, as amended and restated on April 15, 1996." Except as disclosed in this Item 4 relating to the possible merger between the Company and EPI, Mr. Wheeler has no current plans or proposals which relate to or would result in any of the events described in Items (a) through (j) of the instructions to Item 4 of Schedule 13D. Mr. Wheeler intends continuously to review his investment in the Company and, in light of the Company's performance, business prospects and management, may undertake actions which may result in any of the events described in Items (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer (a) Mr. Wheeler is the beneficial owner of 881,812 shares of Company Common Stock. (b) Mr. Wheeler has the sole power to vote or to direct the vote and the sole power to dispose or to direct the disposition of 881,812 shares of Company Common Stock. (c) Mr. Wheeler effected the following transactions in the shares of Company Common Stock during the past 60 days: none. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Other than as set forth in Item 4 above with respect to the notes held by TMW and the options described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between Mr. Wheeler and any person with respect to any securities of the Company. On March 31, 2000, Mr. Wheeler granted options to four managers of TMW, each exercisable for 10,000 shares of Company Common Stock. The options are exercisable for a period of four years at an exercise price equal to the closing price of Company Common Stock on March 31, 2000. Item 7. Material to Be Filed as Exhibits. Exhibit No. Title 99.1 Form of EPI subordinated notes issued to TMW. 99.2 Form of options issued to TMW employees 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. February 15, 2002 /s/ Thomas M. Wheeler - -------------------- --------------------------- Date Thomas M. Wheeler The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative (other than an executive officer or general partner of the filing person), evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name of any title of each person who signs the statement shall be typed or printed beneath his signature. Attention: Intentional misstatements of omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). EXHIBIT INDEX
Exhibit No. Title - ----------- ----- 99.1 Form of EPI Notes issued to TMW. 99.2 Form of options issued to TMW employees
EX-99.1 3 y57690a2ex99-1.txt FORM OF EPI PROMISSORY NOTE Exhibit 99.1 PROMISSORY NOTE $_______________ [Date] Troy, Michigan FOR VALUE RECEIVED, the undersigned, ELECTRONIC PRODUCTS INTEGRATION CORPORATION, a Michigan corporation ("Maker"), promises to pay to the order of TMW Enterprises Inc, ("Holder") the principal sum of ________________ ($__________) lawful money of the United States of America, on September 30,2001, together with the interest on the unpaid principal balance at the rate equivalent to the prime rate of interest as charged from time to time by Bank One or its successors, payable quarterly. If any payment of principal of, or interest on, this Promissory Note shall become due on a Saturday, Sunday or public holiday under applicable laws, or any other day on which banking institutions are authorized, or obligated by law, to close, such payment shall be made on the next succeeding business day and the extension of time shall in such case be included in computing interest in connection with such payment. Maker shall have the right at any time, and from time to time, to prepay, in whole or in part, the unpaid principal and/or interest accrued thereon, without penalty, such payments being first applied to the payment of accrued interest and the balance to the payment of principal. In the case of (a) a default in the payment of principal of and/or interest on this Promissory Note when due, (b) an assignment for the benefit of the creditors of Maker, (c) the filing of a petition in bankruptcy or under any debtor's law by or against Maker (which is not stayed or vacated within thirty days thereafter) for the relief or reorganization of Maker, or for the composition, extension, arrangement or readjustment of any of the obligations of Maker, (d) the appointment of any trustee, receiver or liquidator or similar official having jurisdiction over any substantial part of the property of Maker, or (e) a default in any other obligation of Maker under this Promissory Note, then in any such event, the principal of this Promissory Note and all accrued interest thereon, may, at the option of Holder, be declared due and payable, whereupon the same shall forthwith immediately become due and payable. If suit is brought to collect on this Promissory Note, Holder shall be entitled to collect all reasonable costs and expenses of such suit, including, but not limited to, actual attorney's fees. Each party to this Promissory Note, whether as maker, indorser, guarantor, surety or assignor, waives presentment for payment, demand, protest, notice of protest and notice of dishonor and nonpayment of this Promissory Note, and all defenses on the grounds of delay or of any extension of time at or after maturity for the payment of this Promissory Note, which may hereafter be given by the holder or holders to them, any of them or to anyone who has assumed the payment of this Promissory Note and each of them agrees to all of the terms of this Promissory Note and agrees that this is the joint and several obligation of the parties to this Promissory Note. No failure or delay on the part of Holder in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or other exercise thereof, or the exercise of any other right or power. The rights and remedies of Holder hereunder are cumulative and not exclusive of any rights or remedies which otherwise would be available. No modification or waiver of any provision of this Promissory Note, nor consent to any departure by Maker therefrom shall in any event be effective unless the same shall be in writing, signed by the person against whom enforcement of such modification, waiver or consent is sought, and then such modification, waiver or consent shall be effective only in the specific instance and for the purpose for which given. The obligations of Maker under this Promissory Note shall inure to the benefit of Holder's assigns, successors, heirs and/or legal representatives as the case may be. This Promissory Note is made in and shall be governed by the laws of the State of Michigan. This Note shall be subordinate to the obligations of the Maker to Comerica Bank pursuant to a subordination agreement to be executed by Maker in favor of Comerica Bank. ELECTRONIC PRODUCTS INTEGRATION CORPORATION, a Michigan corporation By:______________________ John J. Sammut, President EX-99.2 4 y57690a2ex99-2.txt FORM OFSTOCK OPTION AGREEMENT Exhibit 99.2 STOCK OPTION AGREEMENT THIS AGREEMENT made and entered into as of this 31st day of March, 2000 by and between THOMAS M. WHEELER (the "Optionor"), and _______________ ("Optionee"). WITNESSETH: WHEREAS, Optionor is the holder of shares ("Shares") of the common stock, 5.01 par value per share, of SMTEK International, Inc., a Delaware corporation (the "Company) and Optionee wishes to obtain the option to purchase certain of those Shares and Optionee is willing to grant such option to the Optionee under the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the parties hereto agree as follows: 1. Options Granted to Optionee. Optionor hereby grants to Optionee options (the "Options") to purchase 10,000 of the Optionor's Shares at an exercise price per share that is equal to the closing price of the Company 's common stock on the NASDAQ small Cap Marketplace on March 31, 2000. 2. Terms of Options. Subject to the terms and conditions contained herein, the options shall be exercisable at any time during the period commencing on January 1, 2000 and ending December 31, 2004, unless those Options are earlier terminated in accordance with the terms hereof. 3. Exercise of Options. (a) The Options may not be exercised unless a registration statement on an appropriate form to register the shams underlying the Options under the Securities Act of 1933 and applicable state securities laws is in effect or a valid exemption from such registration is available. (b) The Options may only be exercised in full; no partial exercise of the Options shall be permitted. (c) The Options may not be exercised during any period of time that such exercise would cause the Optionor to incur liability for any "short-swing" profits under Section 16(b) of the Securities Exchange Act of 1934, as amended. In the event exercise of the Options would cause such liability, Optionor will so notice Optionee within 10 days following receipt of an exercise notice, which notice shall inform Optionee of the first date ("Permissible Date") when the Options may be exercised without causing such liability. Optionee shall thereupon have five days to notify Optionor of his desire (1) to delay the exercise date until the Permissible Date or (2) to revoke the exercise. Optionee's failure timely to provide such notice shall be deemed a revocation of the exercise. (d) To exercise an Option, Optionee must give written notice of exercise to the Optionor, accompanied by cash or cheek payable to the order of Optionor for the full exercise price of such shares. The date of actual receipt by the Optionor of such notice shall be deemed the date of exercise of the Options. Optionor shall, promptly following receipt of such notice and payment and an investment letter and additional instruments as he may reasonably require, submit a certificate or certificates to the Company 's transfer agent with the request that the Shares be issued in the name of the Optionee. (e) During Optionee 's lifetime, only Optionee may exercise the Options, and only while Optionee is an employee of the TMW Enterprises, Inc. or its affiliates, and only if he has been continuously so employed since the date of this Agreement, except that if Optionee's employment is terminated by reason of the death or the permanent disability of the Optionee, Optionee's estate may exercise the Options for a period of 90 days following such death or certification of permanent disability by a medical doctor of recognized professional standing. Except a set forth herein, this Agreement shall terminate upon termination for any reason of Optionee's employment with TMW Enterprises, Inc. or any of its affiliates. 4. Restrictions Upon Transfer of Options. The Options are non-transferable and Optionee agrees that he shall not sell, assign, encumber or otherwise dispose of the Options, voluntarily or involuntarily, except as specifically provided herein. 5. Additional Restrictions on Shares. Optionee acknowledges that the Shares issuable upon exercise of the Options have not been registered under the Securities Act of 1933, as amended, or the securities laws of any state and may not be sold by Option-unless they are registered under those laws or exemptions from such registration are available. Prior to the issuance of the Shares to Optionee upon the exercise of the Options, Optionee shall execute and deliver to the Optionor any investment letter or other instrument that is required by the Optionor in order to ensure compliance with the Securities Act of 1933 and applicable state securities laws. Such investment letter shall provide, among other things, that the Optionee is acquiring the Shares for investment and not for resale and that transfer of the Shares will be restricted and that the certificates to be issued to the Optionee shall bear a restrictive legend substantially in the following form: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE PROVISIONS OF ANY APPLICABLE STATE SECURITIES LAWS, BUT HAVE BEEN ACQUIRED BY THE REGISTERED HOLDER HEREOF FOR PURPOSES OF INVESTMENT AND IN RELIANCE ON STATUTORY EXEMPTIONS UNDER THE SECURITIES ACT, AND STATUTORY EXEMPTIONS UNDER THE APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE SOLD, PLEDGED, TRANSFERRED OR ASSIGNED, EXCEPT IN A TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER PROVISIONS OF THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT THEREUNDER; AND IN THE CASE OF AN EXEMPTION, ONLY IF THE CORPORATION HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION OF ANY SUCH SECURITIES. 6. Execution of Reports; Cooperation. Optionee agrees that upon request from Optionor, he will execute and will cooperate fully with respect to the filing of any and all reports, forms and other instruments that Optionor believes Optionee must execute in order for Optionor and/or Optionee to comply with the requirements of the Act or the Securities Exchange Act or any other Jaw or regulation or rule of any exchange, including, without limitation, any reports of beneficial ownership, Optionee further agrees to cooperate with respect to providing all such other information or instruments, assurances and reasonable assistance, which Optionor may reasonably request of Optionee in order to comply the with provisions of applicable laws, regulations and rules or to address all reasonable requests of the Company's Transfer Agent. Optionee's failure to perform the covenants herein in a timely manner will be deemed a material breach of this Agreement, which shall entitle Optionor to terminate this Agreement upon written notice to Optionee. 7. Binding Effect. The rights and obligations under this Agreement shall inure to the benefit of and shall be binding upon the successors and assigns of the parties and their estates. legal representatives, heirs and distributees but the Optionee's rights hereunder are personal to him and shall not be subject to voluntary or involuntary alienation, assignment or transfer. 8. Entire Agreement. Agreement represents the entire agreement of the parties with respect to the subject matter hereof. 9. Governing Law; Severability. This Agreement shall be governed by the laws of the State of Michigan without reference to its principles or conflicts of laws. If any terms hereof shall be determined to be null and void, ineffectual, invalid or unenforceable by any competent tribunal, the remaining terms hereof shall continue in till force and effect. 10. Multiple Choices. This Agreement is made in multiple copies, each of which shall constitute an original. 11. Notices. Any notice required to be given or made to a party hereunder must be in writing and personally delivered or sent by United States first class mail to the address of each party appearing below its signature hereto or to such other address as may be designated in writing from time to time by a party to the other. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above. OPTIONEE: OPTIONOR: - ---------------------------------- --------------------------------- Thomas M. Wheeler Address: ___________________ Address: 801 W. Big Beaver Rd. Suite 201 Troy, MI 48084
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