- Amended tender offer statement by Third Party (SC TO-T/A)
03 Junio 2010 - 4:09PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
Tender Offer Statement under Section 14(d)(1) or
13(e)(1)
of the Securities Exchange Act of 1934
(Amendment No. 3)
JAVELIN PHARMACEUTICALS, INC.
(Name of Subject Company (Issuer))
DISCUS ACQUISITION CORPORATION
a wholly-owned subsidiary
of
HOSPIRA, INC.
(Names of Filing Persons (Offerors))
Common Stock, par value $0.001 per share
(Title of Class Securities)
471894105
(CUSIP Number of Class of Securities)
Brian J. Smith
Senior Vice President, General
Counsel and Secretary
Hospira, Inc.
Dept. NLEG,
Bldg.
H1
275 North Field Drive
Lake Forest, Illinois 60045-5045
(224) 212-2000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and
Communications
on Behalf of Filing Persons)
With copies
to:
Craig A. Roeder
Michael F. DeFranco
Baker & McKenzie LLP
One Prudential Plaza
130 East Randolph Drive
Chicago, Illinois 60601
(312) 861-8000
CALCULATION OF FILING FEE
Transaction
Valuation(1)
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Amount of
Filing Fee(2)
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$145,593,701
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$10,380.83
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(1)
Estimated for purposes of calculating the
filing fee only. This amount is the sum of (i) 64,423,345 shares of common
stock of Javelin Pharmaceuticals, Inc. outstanding as of April 9,
2010, multiplied by $2.20 per share, which is the offer price, plus (ii) $3,862,342
expected to be paid in connection with the cancellation of outstanding stock
options, restricted stock units, deferred stock units and warrants.
(2)
The filing fee was calculated in
accordance with Rule 0-11 under the Securities Exchange Act of 1934, as
amended, and Fee Rate Advisory for fiscal year 2010, issued December 2009,
by multiplying the transaction value by 0.00007130.
x
Check the 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.
Amount
Previously Paid:
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$10,381.00
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Filing Party:
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Hospira, Inc. and
Discus Acquisition Corporation
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Form or
Registration No.:
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Schedule TO-T
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Date Filed:
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April 21, 2010
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£
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:
x
third-party tender offer subject to Rule 14d-1.
£
issuer tender offer subject to Rule 13e-4.
£
going-private transaction subject to Rule 13e-3.
£
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:
£
This Amendment No. 3 (this Amendment) amends
and supplements the Tender Offer Statement on Schedule TO (together with any
amendments and supplements thereto, the Schedule TO) filed with the Securities
and Exchange Commission on April 21, 2010 by Discus Acquisition
Corporation, a Delaware corporation (the Purchaser), and Hospira, Inc.,
a Delaware corporation and the corporate parent of the Purchaser (the Parent).
The Schedule TO relates to the offer by the Purchaser to purchase all of the
outstanding shares of common stock, par value $0.001 per share (the Shares),
of Javelin Pharmaceuticals, Inc., a Delaware corporation, at a purchase
price of $2.20 per Share, net to the seller 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 April 21, 2010 (together with any
amendments and supplements thereto, the Offer to Purchase) and in the related
Letter of Transmittal, copies of which were filed with the Schedule TO as
Exhibits (a)(1)(A) and (a)(1)(B), respectively. Capitalized terms used and
not defined herein will have the meanings assigned to such terms in the Offer
to Purchase or in the Schedule TO.
Items 1, 4 and 11. Summary Term Sheet; Terms of the
Transaction; Additional Information.
Item 1
of the Schedule TO, which incorporates by reference the information set forth
in the section of the Offer to Purchase entitled Summary Term Sheet, and
Items 4 and 11(b) of the Schedule TO, which incorporate by reference the
information set forth in the Offer to Purchase, are hereby amended and
supplemented to include the following information:
On June 3,
2010, the Parent issued a press release announcing that it had extended the
Offer until 12:00 midnight, New York City time, on June 16, 2010 (the end
of the day on June 16, 2010), unless further extended. The Offer was
previously scheduled to expire at 12:00 midnight, New York City time, on June 2,
2010 (the end of the day on June 2, 2010) (the
Prior Expiration Date
).
As
reported by the Company on May 24, 2010, Therabel Pharma UK Limited (Therabel),
a subsidiary of Therabel Pharma N.V. and the Companys licensee of commercial
rights to Dyloject (diclofenac sodium) in the European Union, has informed the
Company and publicly announced that it is withdrawing all batches of Dyloject
(diclofenac 75mg/2ml) from the UK market with a Drug Alert Class 2
Medicines Recall. Therabel reported that it became aware of the presence of a
white particulate matter in some vials of Dyloject in its supply chain.
Since
being advised of the particulate issue affecting the Companys Dyloject
product, the Parents scientific and regulatory teams have worked with their
counterparts at the Company to conduct an initial analysis of the cause of the
issue and to begin to assess its probable effect on the Companys business.
Based on its evaluation of the information regarding the particulate issue that
has been made available to date, and in accordance with the Merger Agreement,
the Parent has delivered written notice of the extension of the Offer to the
Company based on its determination that not all of the conditions to the Offer
had been satisfied as of the Prior Expiration Date. The Parent intends to
continue to work with the Company to confirm the satisfaction of the conditions
to the Offer as promptly as practicable.
As of
the close of business on the Prior Expiration Date, a total of 50,833,658
Shares (including 2,588,868 Shares tendered pursuant to guaranteed delivery
procedures), representing approximately 78.47 percent of the outstanding
Shares, had been validly tendered and not withdrawn.
A copy
of the press releases issued by the Parent is attached hereto as Exhibit (a)(5)(D) and
is incorporated herein by reference.
Item
11. Additional
Information.
Item 11(a)(5) of the Schedule TO, which
incorporates by reference the information set forth in the section of the Offer
the Purchase entitled Certain Legal Matters; Regulatory Approvals, is hereby
amended and supplemented to include the following information:
On June 3,
2010, the Company issued a press release announcing that it had filed a
complaint in the Court of Chancery of the State of Delaware (the
Court
)
naming the Parent and the Purchaser as defendants and seeking specific
performance of the Merger Agreement and the Loan and Security Agreement (the
Company
Complaint
). The Company Complaint alleges, among other things, that the
Parent and the Purchaser breached the Merger Agreement by failing to (a) accept
and pay for shares tendered into the Offer through May 18, 2010 and (b) complete
the Merger thereafter under the terms of the Merger Agreement. The Complaint further
asserts that the Parent breached the terms of the Loan and Security Agreement by
failing to provide to the Company an additional loan of $2 million on June 1,
2010. The Company Complaint seeks, among other things, to compel (a) the
Parent and the Purchaser to close the Offer within five business days and
consummate the Merger promptly thereafter and (b) the Parent to provide
the Company and IDDS with $2 million for working capital and general corporate
purposes within three business days under the Loan and Security Agreement. In
connection with the Company Complaint, the Company also filed with the Court a
motion seeking expedited proceedings to allow for an early trial.
2
The Parent and the Purchaser believe that each has
complied fully with its obligations under the Merger Agreement and the Loan and
Security Agreement, as applicable, and intend to proceed accordingly.
The
foregoing description of the Company Complaint does not purport to be complete
and is qualified in its entirety by reference to the Company Complaint, a copy
of which is attached as Exhibit (a)(5)(E) hereto and is incorporated
herein by reference. A copy of the press releases issued by the Company is
attached hereto as Exhibit (a)(5)(F) and is incorporated herein by
reference.
Item
12
.
Exhibits
.
Item
12 of the Schedule TO is hereby amended and supplemented to include the
following exhibits:
(a)(5)(D)
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Press Release
issued by Hospira, Inc. on June 3, 2010
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(a)(5)(E)
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Complaint filed
by Javelin Pharmaceuticals, Inc. in the Court of Chancery of the State
of Delaware on June 2, 2010
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(a)(5)(F)
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Press Release
issued by Javelin Pharmaceuticals, Inc. on June 3, 2010
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(d)(5)
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Notice of Offer
Extension delivered by Hospira, Inc. to Javelin
Pharmaceuticals, Inc. on June 3, 2010
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3
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.
Date:
June 3, 2010
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HOSPIRA,
INC.
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By:
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/s/ Brian J.
Smith
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Name: Brian J.
Smith
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Title: Senior
Vice President
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DISCUS
ACQUISITION CORPORATION
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By:
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/s/ Brian J.
Smith
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Name: Brian J.
Smith
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Title: Vice
President and Secretary
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4
EXHIBIT INDEX
Exhibit
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Exhibit Name
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(a)(1)(A)*
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Offer to
Purchase, dated April 21, 2010
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(a)(1)(B)*
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Letter of
Transmittal (including Guidelines for Certification of Taxpayer Identification
Number on Substitute Form W-9)
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(a)(1)(C)*
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Notice of
Guaranteed Delivery
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(a)(1)(D)*
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Letter to
Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees
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(a)(1)(E)*
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Letter to
Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and
Other Nominees
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(a)(5)(A)*
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Joint Press
Release issued by Hospira, Inc. and Javelin Pharmaceuticals, Inc.
on April 19, 2010 (incorporated by reference to Exhibit 99.1 to
Hospira, Inc.s Tender Offer Statement on Schedule TO filed with the
Securities and Exchange Commission on April 19, 2010)
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(a)(5)(B)*
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Summary
Newspaper Advertisement as published in
The
New York Times
on April 21, 2010
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(a)(5)(C)*
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Press Release
issued by Hospira, Inc. on May 19, 2010
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(a)(5)(D)
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Press Release
issued by Hospira, Inc. on June 3, 2010
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(a)(5)(E)
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Complaint filed
by Javelin Pharmaceuticals, Inc. in the Court of Chancery of the State
of Delaware on June 2, 2010 (incorporated by reference to
Exhibit (a)(17) to Javelin Pharmaceuticals, Inc.s Amendment
No. 4 to its Solicitation / Recommendation Statement on Schedule 14D-9,
filed with the Securities and Exchange Commission on June 3, 2010)
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(a)(5)(F)
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Press Release
issued by Javelin Pharmaceuticals, Inc. on June 3, 2010 (incorporated
by reference to Exhibit (a)(18) to Javelin Pharmaceuticals, Inc.s
Amendment No. 4 to its Solicitation / Recommendation Statement on
Schedule 14D-9, filed with the Securities and Exchange Commission on
June 3, 2010)
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(b)
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Not applicable
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(d)(1)*
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Agreement and
Plan of Merger, dated April 17, 2010, by and among Hospira, Inc.,
Discus Acquisition Corporation and Javelin Pharmaceuticals, Inc.
(incorporated by reference to Exhibit 2.1 to Javelin
Pharmaceuticals, Inc.s Current Report on Form 8-K filed with the
Securities and Exchange Commission on April 19, 2010, File
No. 001-32949)
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(d)(2)*
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Loan and
Security Agreement, dated April 17, 2010, by and among
Hospira, Inc., Javelin Pharmaceuticals, Inc. and Innovative Drug
Delivery Systems, Inc. (incorporated by reference to Exhibit 10.1
to Javelin Pharmaceuticals, Inc.s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 19, 2010, File
No. 001-32949)
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(d)(3)*
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Confidentiality
Agreement, dated April 8, 2010, by and between Hospira, Inc. and
Javelin Pharmaceuticals, Inc.
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(d)(4)*
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Notice of Offer
Extension delivered by Hospira, Inc. to Javelin
Pharmaceuticals, Inc. on May 19, 2010
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(d)(5)
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Notice of Offer
Extension delivered by Hospira, Inc. to Javelin
Pharmaceuticals, Inc. on June 3, 2010
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(g)
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Not applicable
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(h)
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Not applicable
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* Previously filed.
5
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