SC TO-T/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE TO
(RULE
14d-100)
Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
(Amendment No. 3)
THE
SPECTRANETICS CORPORATION
(Name of Subject Company (Issuer))
HEALTHTECH MERGER SUB, INC.
a wholly owned subsidiary of
PHILIPS HOLDING USA INC.
a wholly owned subsidiary of
KONINKLIJKE PHILIPS N.V.
(Names of Filing Persons (Offerors))
Common Stock, par value $0.001
(Title of Class of Securities)
84760C107
(CUSIP Number
of Class of Securities)
Joseph E. Innamorati
HealthTech Merger Sub, Inc.
3000 Minuteman Road
Andover, MA 01810
(978)
687-1501
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)
Copies to:
Matthew G. Hurd
Rita-Anne O’Neill
Sullivan & Cromwell LLP
1888 Century Park East, Suite 2100
Los Angeles, CA 90067
(310) 712-6600
CALCULATION OF FILING FEE
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| Transaction Valuation* |
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Amount of Filing Fee** |
| $1,876,789,915 |
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$217,519.95 |
| |
| * |
Estimated solely for purposes of calculating the filing fee. The transaction value calculation does not take into account the effect of any cash received or deemed received by The Spectranetics Corporation (the
“Company”) in connection with the exercise of any outstanding equity awards. The transaction value was determined by multiplying (a) $38.50, the tender offer price, by (b) the sum of (i) 43,848,089, the number of issued and outstanding
shares of Company common stock (including 82,103 shares of Company common stock subject to issuance pursuant to Company restricted stock awards), (ii) 2,885,555, the number of shares of Company common stock subject to issuance pursuant to options to
purchase shares of Company common stock, (iii) 788,241, the number of shares of Company common stock subject to outstanding purchase rights under the Spectranetics employee stock purchase plan, (iv) 617,527, the number of shares of Company common
stock subject to issuance pursuant to Company restricted stock units and (v) 526,275, the number of shares of Company common stock subject to issuance pursuant to Company performance stock units (assuming settlement of outstanding Company
performance stock units based on achievement of applicable performance goals at 150% of the target performance level for Company performance stock units granted in 2016 and the target performance level for Company performance stock units granted in
2017). The foregoing share figures have been provided by the issuer to the offerors and are as of June 27, 2017, the most recent practicable date. |
| ** |
The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory No. 1 for Fiscal Year 2017, issued August 31, 2016, by multiplying the transaction
value by 0.0001159. |
| ☒ |
Check box if any part of the fee is offset as provided by Rule 0–11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or
the Form or Schedule and the date of its filing. |
|
|
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| Amount Previously Paid: $217,519.95 |
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Filing Party: HealthTech Merger Sub, Inc. |
| Form or Registration No.: Schedule TO |
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Date Filed: July 12, 2017 |
| ☐ |
Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. |
Check the appropriate boxes below to designate any transactions to which the statement relates:
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☒ |
third–party tender offer subject to Rule 14d–1. |
| |
☐ |
issuer tender offer subject to Rule 13e–4. |
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☐ |
going–private transaction subject to Rule 13e–3. |
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☐ |
amendment to Schedule 13D under Rule 13d–2. |
Check the following box if the
filing is a final amendment reporting the results of the tender offer. ☐
If applicable, check the appropriate box(es)
below to designate the appropriate rule provision(s) relied upon:
| |
☐ |
Rule 13e–4(i) (Cross–Border Issuer Tender Offer) |
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☐ |
Rule 14d–1(d) (Cross–Border Third–Party Tender Offer) |
This Amendment No. 3 to the Tender Offer Statement on Schedule TO amends and supplements the
Tender Offer Statement on Schedule TO filed with the Securities Exchange Commission on July 12, 2017 (together with any amendments and supplements thereto, the “Schedule TO”) by HealthTech Merger Sub, Inc., a Delaware corporation
(“Purchaser”) and a wholly owned subsidiary of Philips Holding USA Inc., a Delaware corporation (“Parent”) and a wholly owned subsidiary of Koninklijke Philips N.V., a corporation organized under the laws of The Netherlands
(“Royal Philips”). The Schedule TO relates to the offer by Purchaser to purchase all of the outstanding shares of common stock, par value $0.001 per share (the “Shares”), of The Spectranetics Corporation, a Delaware corporation
(the “Company”), at a price per Share of $38.50 net to the seller in cash, without interest and less any applicable withholding taxes, upon the terms and subject to the conditions set forth in the offer to purchase, dated July 12,
2017 (the “Offer to Purchase”), and in the related Letter of Transmittal (which, together with any amendments or supplements thereto, collectively constitute the “Offer”).
| Item 11. |
Additional Information. |
Item 11 of the Schedule TO is hereby amended and
supplemented as follows:
The information set forth in Section 17 — “Certain Legal Matters; Regulatory
Approvals—Litigation” of the Offer to Purchase is hereby amended and supplemented by replacing the third paragraph immediately below the heading “Litigation” with the following paragraph:
“On July 24, 2017, plaintiff Aviles filed a motion for expedited proceedings and a preliminary injunction. On July 26, 2017,
plaintiff Aviles withdrew his motion for expedited proceedings and a preliminary injunction.”
The information set forth in
Section 17 — “Certain Legal Matters; Regulatory Approvals—Foreign Antitrust Compliance” of the Offer to Purchase is hereby amended and supplemented by inserting the following paragraph after the last paragraph under such
heading:
“On July 27, 2017, we received the approval described above from the German Federal Cartel Office.”
The information set forth in Section 19 — “Miscellaneous” of the Offer to Purchase is hereby amended and supplemented by
inserting the following paragraph and headings immediately before the first paragraph under such heading:
“Other
Considerations
On July 26, 2017, Spectranetics received Premarket Approval from the United States Food and Drug
Administration for Stellarex.
General”
Item 12 of the Schedule TO is hereby amended and supplemented
by adding the following exhibit:
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| Index
No. |
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| (a)(5)(xxiii) |
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Additional talking points issued by Philips. |
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: July 27, 2017
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| HEALTHTECH MERGER SUB, INC. |
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| By: |
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/s/ Joseph E. Innamorati |
| Name: |
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Joseph E. Innamorati |
| Title: |
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Vice President and Secretary |
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| PHILIPS HOLDING USA INC. |
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| By: |
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/s/ Joseph E. Innamorati |
| Name: |
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Joseph E. Innamorati |
| Title: |
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Senior Vice President and Secretary |
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| KONINKLIJKE PHILIPS N.V. |
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| By: |
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/s/ Joseph E. Innamorati |
| Name: |
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Joseph E. Innamorati |
| Title: |
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Authorized Signatory |
