Item 8.01 Other Events.
On July 10, 2009, Zila, Inc. ("ZILA") issued a press release announcing that
the Board of Directors of ZILA (the "Board") has carefully reviewed a
non-binding contingent proposal submitted by Intelident Solutions Inc.
("Intelident") to ZILA on July 7, 2009 to acquire all of ZILA's common stock for
$0.42 per share. The Board concluded that the Intelident proposal is not
superior to ZILA's existing agreement to be acquired by TOLMAR Holding, Inc.
("TOLMAR"), which ZILA announced on June 25, 2009.
A copy of the press release is filed as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated herein by reference.
Important Additional Information and Where to Find It
On July 2, 2009, ZILA filed with the Securities and Exchange Commission (the
"SEC") a preliminary proxy statement relating to the proposed merger with
TOLMAR. ZILA intends to file a definitive proxy statement and other relevant
materials with the SEC in the near future. These materials will also be mailed
to ZILA's stockholders. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND
RELATED MATERIALS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE. SUCH MATERIALS
WILL CONTAIN IMPORTANT INFORMATION ABOUT ZILA, TOLMAR AND THE PROPOSED MERGER
TRANSACTION, AND STOCKHOLDERS SHOULD CAREFULLY CONSIDER THEM BEFORE MAKING ANY
VOTING OR INVESTMENT DECISIONS IN CONNECTION WITH THE PROPOSED MERGER
TRANSACTION.
ZILA's stockholders will be able to obtain free copies of the proxy statement
for the proposed merger (when it is available) and other documents filed with
the SEC by ZILA through the website maintained by the SEC at www.sec.gov. In
addition, ZILA's stockholders will be able to obtain free copies of the proxy
statement and other materials filed with the SEC by contacting Zila, Inc., 16430
North Scottsdale Road, Suite 450, Scottsdale, Arizona, 85254-1770, Attention:
Gary V. Klinefelter, Vice President, General Counsel and Secretary or by calling
(602) 266-6700. Neither this Current Report on Form 8-K nor the press release
filed as an exhibit hereto constitutes an offer of any securities of ZILA for
sale or the solicitation of any proxy.
ZILA, its directors, executive officers and other members of its management
and employees may be deemed to be participants in the solicitation of proxies
from ZILA's stockholders in favor of the proposed merger with TOLMAR.
Information regarding ZILA's directors and executive officers and their
respective interests in the proposed merger (which may be different from those
of ZILA's stockholders generally) is included in the proxy statements, the
Annual Reports on Form 10-K and the Quarterly Reports on Form 10-Q that ZILA has
previously filed with the SEC. When it becomes available, the definitive proxy
statement relating to the proposed merger will include information regarding all
of ZILA's participants in the solicitation of proxies in favor of approving the
merger. Stockholders of ZILA can obtain free copies of these documents by using
the contact information provided above.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements are based
largely on ZILA's expectations or forecasts of future events, can be affected by
inaccurate assumptions and are subject to various business risks and known and
unknown uncertainties, a number of which are beyond ZILA's control.
Forward-looking statements
include, but are not limited to, statements about the proposed merger involving
ZILA and TOLMAR and other statements that are not historical facts. The
following factors, among others, could cause actual results to differ from those
set forth in the forward-looking statements: the failure of ZILA's stockholders
to approve the proposed merger; the failure of ZILA or TOLMAR to satisfy any
other condition to the completion of the proposed merger; and the risk that the
proposed merger will be delayed. Additional factors that may affect future
results are discussed in ZILA's Form 10-K for its fiscal year ended July 31,
2008 and Form 10-Q for the quarter ended April 30, 2009. ZILA disclaims any
obligation to update and/or revise statements contained in these materials based
on new information or otherwise.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release of Zila, Inc., dated July 10, 2009 and entitled "Zila Board
Finds the Intelident Proposal not Superior to Tolmar Offer"
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