SC 14D9/A 1 a13-23445_12sc14d9a.htm SC 14D9/A

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

SCHEDULE 14D-9

(Rule 14d-101)

 

Solicitation/Recommendation Statement

Under Section 14(d)(4) of the Securities Exchange Act of 1934

 

(Amendment No. 7)

 


 

SYMMETRICOM, INC.

(Name of Subject Company)

 

SYMMETRICOM, INC.

(Name of Person Filing Statement)

 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

 

871543104

(CUSIP Number of Class of Securities)

 


 

Elizabeth A. Fetter

Chief Executive Officer

2300 Orchard Parkway

San Jose, California 95131-1017

(408) 433-0910

(Name, address and telephone number of person authorized to receive

notices and communications on behalf of the persons filing statement)

 

With copies to:

 Ora T. Fisher, Esq.

Latham & Watkins LLP

140 Scott Drive

Menlo Park, California 94025-3656

Telephone: (650) 328-4600

Facsimile: (650) 463-2600

 

o                    Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

 

 

 



 

Purpose of Amendment

 

This Amendment No. 7 (this “Amendment”) amends and supplements the Solicitation/Recommendation Statement on Schedule 14D-9 of Symmetricom, Inc. (the “Company”) filed with the Securities and Exchange Commission (the “SEC”) on October 28, 2013 (as amended and supplemented from time to time, the “Schedule 14D-9”). The Schedule 14D-9 relates to the tender offer by PETT Acquisition Corp., a Delaware corporation (“Purchaser”) and a wholly owned subsidiary of Microsemi Corporation, a Delaware corporation (“Parent”), to purchase any and all of the issued and outstanding shares of Common Stock (“Shares”), at a purchase price of $7.18 per Share, net to the selling stockholder in cash, without interest and less any required withholding taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated October 28, 2013 (as amended or supplemented from time to time, the “Offer to Purchase”), and in the related Letter of Transmittal (which, together with the Offer to Purchase, as each may be amended or supplemented from time to time, constitute the “Offer”), copies of which are annexed to and filed with the Tender Offer Statement on Schedule TO (as amended or supplemented from time to time, the “Schedule TO”) filed by Parent and Purchaser with the SEC on October 28, 2013.

 

Except as otherwise set forth below, the information set forth in the Schedule 14D-9 remains unchanged and is incorporated by reference as relevant to the items in this Amendment.  Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Schedule 14D-9.  This Amendment is being filed to reflect certain updates as reflected below.

 

Item 8.                          Additional Information.

 

Item 8 of Schedule 14D-9 is hereby amended and supplemented by adding the following caption and paragraphs after the end of the section titled “Regulatory Approvals”:

 

Completion of the Offer

 

The Offer and withdrawal rights expired at 12:00 midnight, New York City time, at the end of November 25, 2013. Based on information provided by American Stock Transfer & Trust Company, LLC, the depositary for the Offer, as of the expiration date of the Offer, 32,567,791 Shares were validly tendered and not withdrawn in the Offer, representing approximately 67.6% of the sum of (i) the then outstanding Shares plus (ii) (without duplication) a number equal to the number of Shares issuable upon the vesting (including vesting solely as a result of the consummation of the Offer), conversion, settlement or exercise of all then outstanding warrants, options, benefit plans, obligations or securities convertible or exchangeable into Shares, or other rights to acquire or be issued Shares, in each case, with an exercise or conversion price below $7.18 per Share.  All conditions to the Offer having been satisfied, Purchaser accepted for payment, and will promptly pay for, all Shares validly tendered into and not withdrawn in accordance with the terms of the Offer.

 

Following the expiration of the Offer and subject to the satisfaction of the remaining conditions set forth in the Merger Agreement, Parent and Purchaser intend to complete the acquisition of the Company through the Merger as promptly as practicable without a meeting of stockholders of the Company in accordance with Section 251(h) of the DGCL. At the Effective Time of the Merger, each outstanding Share (other than Shares directly owned by the Company and its subsidiaries, Parent or Purchaser, which will be canceled and shall cease to exist, and Shares held by stockholders that are entitled to and properly demand appraisal of such Shares under the DGCL) will be converted into the right to receive $7.18, net to the selling stockholder in cash, without interest and less any required withholding taxes. Following the Merger, the Shares will no longer be listed on NASDAQ Global Select Market.

 

On November 26, 2013, Parent issued a press release announcing the results and expiration of the Offer. A copy of the press release is attached hereto as Exhibit (a)(5)(13), and the information set forth in the press release is incorporated herein by reference.”

 

Item 9.                          Exhibits.

 

Item 9 of Schedule 14D-9 is hereby amended and supplemented by adding the following exhibit:

 

Exhibit
Number

 

Description

 

 

 

(a)(13)

 

Press Release issued by Microsemi Corporation on November 26, 2013. (incorporated by reference to Exhibit (a)(5)(H) to the Schedule TO).

 

2



 

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.

 

 

 

Symmetricom, Inc.

 

 

 

 

By:

/s/ Elizabeth A. Fetter

 

Name:

Elizabeth A. Fetter

 

Title:

President and Chief Executive Officer

 

Dated: November 26, 2013

 

3