-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, gChu2ateHKTyzwUoQQ9PTCMlbFduZssLzpnlx/dqB46yq/0KWjbijxJi6LX64UX9 AUqoFRJduElZ7K0kS1gdAw== 0000813672-94-000018.txt : 19940527 0000813672-94-000018.hdr.sgml : 19940527 ACCESSION NUMBER: 0000813672-94-000018 CONFORMED SUBMISSION TYPE: 8-A12B/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19940526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CADENCE DESIGN SYSTEMS INC CENTRAL INDEX KEY: 0000813672 STANDARD INDUSTRIAL CLASSIFICATION: 7372 IRS NUMBER: 770148231 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-A12B/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-10606 FILM NUMBER: 94530890 BUSINESS ADDRESS: STREET 1: 555 RIVER OAKS PKWY CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 4089431234 MAIL ADDRESS: STREET 1: 555 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 FORMER COMPANY: FORMER CONFORMED NAME: ECAD INC /DE/ DATE OF NAME CHANGE: 19880609 8-A12B/A 1 May 26, 1994 VIA EDGAR Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Cadence Design Systems, Inc. Form 8-A/A Amendment No. 1 Ladies and Gentlemen: Accompanying this letter for filing pursuant to the Securities Exchange Act of 1933, as amended, is a conformed copy of Amendment No. 1 to the Registration Statement on Form 8-A ("Amendment No. 1") of Cadence Design Systems, Inc. (the "Company"), which Registration Statement was originally filed August 29, 1990. Manually executed signature pages were executed prior to the time of this electronic filing and will be retained by the Company for five years. WE HEREBY REQUEST THAT THIS AMENDMENT NO. 1 BE DECLARED EFFECTIVE AS SOON AS PRACTICABLE AFTER THE FILING HEREOF. If you have any questions about the enclosed, please contact the undersigned at (408) 944-7748. Very truly yours, CADENCE DESIGN SYSTEMS, INC //s// James Given Corporate Counsel SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A/A Amendment No.1 FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 Cadence Design Systems, Inc. (Exact name of registrant as specified in its charter) Delaware 77-0148231 (State of incorporation or organization) (I.R.S. Employer Identification No.) 555 River Oaks Parkway San Jose, California 95134 (Address of principal executive offices) (Zip Code) Securities to be registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which each class to be so registered is to be registered - ------------------ -------------------- Common Stock, $0.01 par value New York Stock Exchange per share Common Stock Purchase Rights New York Stock Exchange Securities to be registered pursuant to Section 12(g) of the Act: None. Item 1. Description of Registrant's Securities to be Registered The authorized capital stock of Cadence Design Systems, Inc. ("Cadence") consists of 150,000,000 shares of Common Stock, $.01 par value, and 2,000,000 shares of Preferred Stock, $.01 par value. Cadence Common Stock is listed on the New York Stock Exchange under the symbol "CDN." Common Stock. The holders of Cadence Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. There is no cumulative voting for the election of directors. Subject to preferences that may be applicable to any outstanding Cadence Preferred Stock, holders of Cadence Common Stock are entitled to receive ratably such dividends as may be declared by the Board of Directors out of funds legally available therefor. In the event of a liquidation, dissolution or winding up of Cadence, holders of Cadence Common Stock are entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preference of any outstanding Cadence Preferred Stock. Holders of Cadence Common Stock have no preemptive rights and have no rights to convert their Common Stock into any other securities. All of the outstanding shares of Cadence Common Stock are fully paid and nonassessable. Preferred Stock. The Board of Directors is authorized, subject to any limitations prescribed by Delaware law, to determine the dividend rights, dividend rates, conversion rights, voting rights, rights and terms of redemption, liquidation preferences, sinking fund terms and other rights, preferences, privileges and restrictions of any wholly unissued series of Cadence Preferred Stock, the number of shares constituting any such series and the designation thereof, without any further action by the stockholders. The issuance of Cadence Preferred Stock may have the effect of delaying, deferring or preventing a change in control of Cadence without any further action by the stockholders. The Board of Directors, without stockholder approval, can issue Cadence Preferred Stock with voting and conversion rights which could adversely affect the voting power of the holders of Cadence Common Stock. Cadence has no present plans to issue any Preferred Stock. Increased Vote Requirements for Certain Business Combinations. Cadence's Certificate of Incorporation provides that, in addition to any vote ordinarily required under Delaware law, the affirmative vote of (i) the holders of at least 66% of the voting power of outstanding shares voting together as a single class (the "66% Vote Requirement") and (ii) the holders of a majority of Cadence's outstanding disinterested shares (the "Disinterested Vote Requirement") would be required to approve certain business combinations involving a related person who acquires a 5% or more interest in Cadence after March 15, 1987. For these purposes, the term "related persons" refers to any person or entity or, any persons or entities acting in concert, who together with its or their affilaites and associates, beneficially owns 5% or more of the outstanding voting stock of Cadence. Neither supermajority vote requirement applies to any proposed business combination approved by a majority of the disinterested directors of Cadence. The 66% Vote Requirement would not apply (but the Disinterested Vote Requirement would continue to apply) to any proposed business combination if certain fair price requirements are satisfied. To satisfy the fair price requirements, the price per share to be paid to holders of each class of equity securities of Cadence in any business combination must be paid in cash or in the same form that the related person has previously paid for such class of capital stock and must be at least equal to the highest of (i) the highest per share price paid or agreed to be paid by the related person for any shares of such class during the period of two years immediately prior to announcement of the proposed business combination (the "Announcement Date") or the highest per share price paid in the transaction or series of transactions in which the person, entity or group became a related person, whichever is higher, (ii) the higher of the fair market value per share of such class on the Announcement Date or on the date on which the related person became a related person or (iii) if applicable, the redemption price per share of such class or, if such class has no redemption price, the highest amount per share that such class is entitled to receive upon liquidation of Cadence. The supermajority vote requirements are intended to discourage, but would not prevent, the initiation of hostile two- tier tender offers for the capital stock of Cadence and the initiation of other forms of business combinations without the prior approval of a majority of the disinterested directors. To the extent that the supermajority vote requirements would discourage corporate transactions that would result in a change in Cadence's management, such management changes may be less likely to occur. Although the purpose of the supermajority vote requirements is to protect Cadence, its stockholders, employees and others from unfavorable business combinations, the supermajority vote requirements could, under certain circumstances, permit Cadence's Board of Directors or minority stockholders to frustrate consummation of a business combination that the holders of a majority of the voting stock of Cadence may believe to be in their best interests. Cadence Rights Agreement. In June 1989, the Board of Directors of Cadence declared a dividend of one common share purchase right (a "Cadence Right") for each outstanding share of Cadence Common Stock held of record on July 20, 1989. The terms of the Cadence Rights are set forth in an Amended and Restated Rights Agreement (the "Rights Agreement") between Cadence and Harris Trust Company of California, as rights agent, and the description below of those terms is qualified in its entirety by reference to the Rights Agreement. Each Cadence Right entitles the registered holder to purchase from Cadence one share of Cadence Common Stock at a price of $100 per share, subject to adjustment (the "Exercise Price"). However, the registered owner will be entitled to additional benefits in the event that, after the Cadence Right becomes exercisable (as described below), Cadence is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power is sold. If such a transaction occurs, proper provision will be made so that each holder of a Cadence Right, other than Cadence Rights beneficially owned by an "Acquiring Person" (described below) will thereafter have the right to receive, upon exercise (described below) at the then current Exercise Price, that number of shares of common stock of the acquiring company which at the time of such transaction has a market value equal to two times the Exercise Price of the Cadence Right. Thus, by paying the Exercise Price of $100 (assuming that continues to be the Exercise Price), the holder of a Cadence Right would be entitled to purchase common stock of the acquiring company worth $200. In the event that any person or group of affiliated or associated persons acquires beneficial ownership of 20% or more of the outstanding Cadence Common Stock (thereby becoming an "Acquiring Person"), each holder of a Cadence Right, other than Cadence Rights beneficially owned by the Acquiring Person (which Cadence Rights will thereafter be void), will thereafter have the right to receive, upon exercise, shares of Cadence Common Stock having a market value equal to two times the Exercise Price of the Cadence Right. Thus, for $100 (assuming that continues to be the Exercise Price), the holder of a Cadence Right would purchase shares of Cadence Common Stock worth $200. If the number of shares of Cadence Common Stock that Cadence is required to issue upon exercise of a Cadence Right exceeds the number of Cadence's authorized but unissued shares, Cadence will be required to deliver instead an amount of cash or other securities having a value equal to the shares that it is unable to issue. The Cadence Rights do not become exercisable until (i) a public announcement or disclosure that an Acquiring Person has acquired beneficial ownership of 20% or more of the outstanding Cadence Common Stock (the date of such announcement or disclosure being the "Shares Acquisition Date") or (ii) the announcement of an intention to make a tender offer or exchange offer the consummation of which would result in the beneficial ownership by a person or group of 20% or more of the outstanding Cadence Common Stock. The Cadence Rights will expire on May 30, 1999 (the "Final Expiration Date"), unless the Final Expiration Date is extended or unless the Cadence Rights are earlier redeemed by Cadence, in each case, as described below. The Rights Agreement provides that, until the Cadence Rights become exercisable, they will be transferred with and only with the transfer of Cadence Common Stock. In the event of a stock dividend, stock split or reclassification of Cadence Common Stock, or certain other events, the Exercise Price payable upon exercise of the Cadence Rights, and the number of shares of Cadence Common Stock or other securities or property issuable upon exercise of the Cadence Rights, will be adjusted to prevent dilution. At any time after the acquisition by an Acquiring Person of beneficial ownership of 20% or more of the outstanding Cadence Common Stock and prior to the acquisition by such person or group of 50% or more of the outstanding Cadence Common Stock, the Board of Directors of Cadence may issue additional shares of Cadence Common Stock in exchange for the Cadence Rights (other than Cadence Rights owned by such person or group which have become void), in whole or in part, at an exchange ratio of one share of Cadence Common Stock per Cadence Right (subject to adjustment). The Board of Directors may cause Cadence to redeem the Cadence Rights in whole, but not in part, at a price of $.01 per Cadence Right (the "Redemption Price"). The redemption of the Cadence Rights may be made effective at such time, on such basis and with such conditions as the Board of Directors, in its sole discretion, may establish. Immediately upon any redemption of the Cadence Rights, the right to exercise the Cadence Rights will terminate and the only right of the holders of Cadence Rights will be to receive the Redemption Price. Notwithstanding any other provision of the Rights Agreement, if, at any time after the Shares Acquisition Date, a majority of the members of the Board of Directors are persons who were not members of the Board immediately prior to the Shares Acquisition Date, then, from and after such time, the Cadence Rights may not be redeemed. Additionally, the Cadence Rights will not be exercisable for Cadence Common Stock having a market value of two times the exercise price of the Cadence Right, upon a person becoming an Acquiring Person, until Cadence's right to redeem the Cadence Rights has terminated. Also, at any time until the period to redeem the Cadence Rights has terminated, the terms of the Cadence Rights may be amended in any respect by the Board of Directors without the consent of the holders of the Cadence Rights. Thus, if the Board of Directors approves a proposed transaction which would otherwise trigger the exercise rights of the holders of the Cadence Rights, the Board could elect to allow the transaction to proceed without triggering those exercise rights. The holder of a Cadence Right, as such, will have no rights as a stockholder of Cadence, including, without limitation, the right to vote or to receive dividends, until the Cadence Right is exercised. As is the case of the supermajority vote requirements referred to in "--Increased Vote Requirements for Certain Business Combinations" above, the issuance of Cadence Rights is intended to discourage, but would not prevent, the initiation of hostile tender offers for the capital stock of Cadence and the initiation of other forms of business combinations without the prior approval of Cadence's Board of Directors. To the extent that the Cadence Rights would discourage corporate transactions that would result in a change in Cadence's management, such management changes may be less likely to occur. Although the purpose of the Cadence Rights is to protect Cadence, its stockholders, employees and others from unfavorable combinations, their existence could, under certain circumstances, permit Cadence's Board of Directors or minority stockholders to frustrate consummation of a business combination that the remaining holders of the voting stock of Cadence may believe to be in their best interests SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: May 26, 1994 CADENCE DESIGN SYSTEMS, INC. By: /s/H. Raymond Bingham H. Raymond Bingham Executive Vice President Finance and Administration, Chief Financial Officer and Secretary -----END PRIVACY-ENHANCED MESSAGE-----