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| JDAS > SEC Filings for JDAS > Form 8-K on 21-Dec-2012 | All Recent SEC Filings |
21-Dec-2012
Termination of a Material Definitive Agreement, Notice of Delisting or Fai
On December 21, 2012, the Company called for redemption all of its outstanding $275,000,000 aggregate principal amount 8.0% Senior Notes due 2014 (the "Notes") in accordance with the redemption provisions of the indenture governing the Notes, dated as of December 10, 2009 (as supplemented by that certain Supplemental Indenture dated as of January 28, 2010, the "Indenture") among the Company, the guarantors party thereto and U.S. Bank National Association, as trustee (the "Trustee"). The redemption date for the Notes will be January 21, 2013 (the "Redemption Date"). The Notes will be redeemed at a redemption price of 104.00% of the principal amount thereof, plus accrued and unpaid interest on the Notes redeemed to, but not including, the Redemption Date, in accordance with the provisions of the Indenture. In connection with the redemption, the Company satisfied and discharged its obligations under the Indenture in accordance with the satisfaction and discharge provisions of the Indenture, by causing to be deposited with the Trustee sufficient funds to pay the redemption price, plus accrued and unpaid interest on the Notes to, but not including, the Redemption Date. As a result of the satisfaction and discharge of the Indenture, the Company has been released from its remaining obligations under the Indenture and the Notes.
As a result of the Offer and the Merger, the Company no longer fulfills the numerical listing requirements of The NASDAQ Stock Market LLC ("Nasdaq"). On December 21, 2012, the Company notified Nasdaq of its intent to remove its Shares from listing on The NASDAQ Global Select Market and requested that Nasdaq file a Notification of Removal from Listing and/or Registration on Form 25 with the SEC to delist and deregister the Shares. The Company intends to file with the SEC a Form 15 under the Exchange Act, requesting the deregistration of the Shares and the suspension of the Company's reporting obligations under Sections 13 and 15(d) of the Exchange Act. Trading of the Shares on The NASDAQ Global Select Market will be suspended as of the opening of trading on December 24, 2012.
In order to complete the Merger, on December 21, 2012, pursuant to Section 2.3 of the Merger Agreement, Purchaser exercised its top-up option (the"Top-Up Option") to purchase additional Shares, and the Company issued 3,707,293 Shares (the "Top-Up Shares") to Purchaser, at a price of $45.00 per Share, for an aggregate purchase price of $166,828,185. Purchaser paid for the Top-Up Shares by delivery of cash equal to the aggregate par value of the Top-Up Shares and a promissory note having a principal amount equal to the aggregate purchase price pursuant to the Top-Up Option less the amount paid in cash. The Top-Up Shares, when added to the number of Shares directly or indirectly owned by Parent and Purchaser at the time of exercise of the Top-Up Option, represented more than 90% of the Shares outstanding immediately after the issuance of the Top-Up Shares, which ensured that Purchaser and the Company could effect the Merger under applicable Delaware law. The Top-Up Shares were issued without registration under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon an exemption from registration pursuant to Section 4(2) of the Securities Act, as a transaction by an issuer not involving a public offering.
The information set forth in Items 1.02, 3.01, 5.01 and 5.03 of this Current Report on Form 8-K (this "Current Report") is incorporated herein by reference in response to this Item 3.03.
At the Effective Time, each outstanding Share immediately prior to the Effective Time (other than Shares owned by the Company (including treasury shares), Parent or Purchaser (other than shares in trust accounts, managed accounts and the like), or by stockholders of the Company who have perfected and not withdrawn a demand for appraisal rights pursuant to Section 262 of the DGCL) was converted into the right to receive the Offer Price, net to the seller in cash, without interest thereon and less any required withholding taxes.
As a result of the acceptance of and payment for Shares in the Offer on December 21, 2012, a change of control of the Company occurred. At the Effective Time, the Company became a wholly owned direct subsidiary of Parent. The disclosure under Introduction and Item 3.01 is incorporated herein by reference. The total amount of the consideration payable in connection with the change of control transaction was approximately $1.9 billion. The funds used to consummate the Offer and the Merger were from an equity contribution by RedPrairie's majority shareholder, New Mountain Partners III, L.P., proceeds received in connection with the First Lien Credit Agreement, dated as of December 14, 2012, among Parent, as borrower, RP Crown Holding, LLC ("Holdco"), as guarantor, Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the respective lenders parties thereto, proceeds received in connection with the Second Lien Credit Agreement, dated as of December 14, 2012, among Parent, as borrower, Holdco, as guarantor, Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the respective lenders parties thereto and available cash from the balance sheets of the Company and RedPrairie.
In connection with the Merger and as contemplated by the Merger Agreement, each member of the Company's board of directors prior to the Merger voluntarily resigned from the Company's board of directors shortly in advance of the Effective Time (with the exception of Hamish Brewer). Each such director resigned pursuant to the terms of the Merger Agreement and not because of any disagreement with the Company. Pursuant to the terms of the Merger Agreement, as of the Effective Time, each of Peter Masucci and Alok Singh became a member of the Company's board of directors. Accordingly, as of the Effective Time, the Company's board of directors consisted of Hamish Brewer, Peter Masucci and Alok Singh. Mr. Singh was elected as Chairman of the board of directors as of the Effective Time.
Pursuant to the Merger Agreement, at the Effective Time, the Company's Certificate of Incorporation in effect immediately prior thereto was amended and restated to be in the form of the certificate of incorporation set forth as Exhibit B to the Merger Agreement (the "Amended and Restated Certificate of Incorporation"). In addition, at the Effective Time, the Company's Bylaws in effect immediately prior thereto were amended and restated to be in the form of the bylaws set forth as Exhibit C to the Merger Agreement (the "Amended and Restated Bylaws"). Copies of the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws are filed as Exhibits 3.1 and 3.2 to this Current Report and are incorporated herein by reference.
(d) Exhibits.
Exhibit
No. Description of Exhibit
3.1 Amended and Restated Certificate of Incorporation of JDA Software
Group, Inc.
3.2 Amended and Restated Bylaws of JDA Software Group, Inc.
99.1 Joint Press Release issued by RedPrairie Corporation and JDA Software
Group, Inc. on December 21, 2012 (announcing the expiration of the
Offer)
99.2 Joint Press Release issued by RedPrairie Corporation and JDA Software
Group, Inc. on December 21, 2012 (announcing consummation of the
Merger)
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