UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
TENDER OFFER STATEMENT
UNDER SECTION 14(d)(1) OR SECTION 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
MMODAL INC.
(Name of Subject Company)
LEGEND ACQUISITION SUB, INC.
(Name of Filing Person (Offeror))
a wholly-owned subsidiary of
LEGEND PARENT, INC.
(Name of Filing Person (Parent of Offeror))
ONE EQUITY PARTNERS V, L.P.
(Name of Filing Person (Other Person))
COMMON STOCK, $0.10 PAR VALUE PER SHARE
(Title of Class of Securities)
60689B107
(CUSIP Number of Class of Securities)
Gregory A. Belinfanti
Christian Ahrens
Legend Acquisition Sub, Inc.
c/o One Equity Partners V, L.P.
320 Park Avenue
New York, New York 10022
Telephone: (212) 277-1500
(Name, address and telephone number of person authorized
to receive notices and communications on behalf of filing persons)
with copies to:
Derek Winokur, Esq.
Dechert LLP
1095 Avenue of the Americas
New York, New York 10036
Tel: (212) 698-3500 Fax: (212) 698-3599
CALCULATION OF FILING FEE
|
| ||
|
Transaction Valuation(1) |
Amount Of Filing Fee(2) | |
| $831,315,758 | $95,268.78 | |
|
| ||
|
| ||
| (1) | Estimated for purposes of calculating the filing fee only. The transaction valuation was calculated by adding the sum of (i) 57,067,956 shares of common stock, par value $0.10, of MModal Inc. outstanding (including shares of restricted common stock) multiplied by the offer price of $14.00 per share, (ii) 1,776,421 shares of common stock, par value $0.10, of MModal Inc., issuable pursuant to outstanding options multiplied by the offer price of $14.00 per share, and (iii) 535,320 outstanding restricted stock units multiplied by the offer price of $14.00 per share. The calculation of the filing fee is based on information provided by MModal Inc. as of July 12, 2012. |
| (2) | The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934 by multiplying the transaction value by 0.00011460. |
| 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: $95,268.78 | Filing Party: Legend Acquisition Sub, Inc. | |
| Form or Registration No.: SC TO-T | Date Filed: July 17, 2012 |
| ¨ | 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. 1 (this “Amendment”) amends and supplements the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on July 17, 2012 (which, together with any subsequent amendments and supplements thereto, collectively constitute this “Schedule TO”). The Schedule TO relates to the tender offer by Legend Acquisition Sub, Inc., a Delaware corporation (the “Purchaser”) and a wholly owned direct subsidiary of Legend Parent, Inc., a Delaware corporation (the “Parent”), for all of the outstanding common stock, par value $0.10 per share (“Shares”), of MModal Inc., a Delaware corporation (“MModal”), at a price of $14.00 per share net to the seller thereof in cash, without interest thereon and less any applicable withholding taxes, upon the terms and conditions set forth in the offer to purchase dated July 17, 2012 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), a copy of which is attached as Exhibit (a)(1)(A), and the related letter of transmittal (as it may be amended or supplemented from time to time, the “Letter of Transmittal”), a copy of which is attached as Exhibit (a)(1)(B), which collectively constitute the “Offer.”
All the information set forth in the Offer to Purchase is incorporated by reference herein in response to Items 1 through 9 and Item 11 of this Schedule TO, and is supplemented by the information specifically provided in this Schedule TO.
This Amendment is being filed to amend and supplement Items 11 and 12 as reflected below.
Item 11. Additional Information.
Regulation M-A Item 1011
Item 11 of this Schedule TO is hereby amended and supplemented as follows by amending and supplementing the information set forth in Section 16 of the Offer to Purchase entitled “Certain Legal Matters; Regulatory Approvals” by adding the following sentence at the end of the final paragraph under the heading “Antitrust Compliance”:
“On July 20, 2012, the FTC granted early termination, effective July 20, 2012, of the required waiting period under the HSR Act in connection with the purchase of Shares in the Offer and the Merger. Accordingly, the condition to the Offer relating to the termination or expiration of the HSR Act waiting period has been satisfied.”
Item 11 of this Schedule TO is hereby amended and supplemented as follows by amending and supplementing the information set forth in Section 15 of the Offer to Purchase entitled “Certain Conditions of the Offer” by replacing the fourth paragraph in the Section with the following paragraph:
“The foregoing conditions shall be in addition to, and not a limitation of, the rights and obligations of the Parent and the Purchaser to extend, terminate or modify the Offer pursuant to the terms and conditions of the Merger Agreement. Such rights to extend, terminate or modify the Offer pursuant to the terms and conditions of the Merger Agreement are described above under Section 11 — “The Merger Agreement; Other Agreements — Merger Agreement — The Offer.” Any extension, delay, termination or amendment of the Offer will be followed as promptly as practicable by public announcement thereof, and such announcement in the case of an extension will be made no later than 9:00 a.m., New York City time, on the next business day after the previously scheduled Expiration Date.”
Item 12. Exhibits.
Regulation M-A Item 1016
Item 12 of this Schedule TO is hereby amended and supplemented by adding thereto the following exhibit:
| Exhibit No. |
Description | |
| (a)(1)(I) | Joint Press Release issued by One Equity Partners and MModal Inc. on July 24, 2012. |
SIGNATURES
After due inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: July 24, 2012
| LEGEND ACQUISITION SUB, INC. | ||||||||||||
| By: | /s/ Matthew P. Hughes | |||||||||||
| Name: | Matthew P. Hughes | |||||||||||
| Title: | Secretary | |||||||||||
| LEGEND PARENT, INC. | ||||||||||||
| By: | /s/ Matthew P. Hughes | |||||||||||
| Name: | Matthew P. Hughes | |||||||||||
| Title: | Secretary | |||||||||||
| ONE EQUITY PARTNERS V, L.P. | ||||||||||||
| By: | OEP General Partner V, L.P., | |||||||||||
| as General Partner | ||||||||||||
| By: | OEP Parent LLC, | |||||||||||
| as General Partner | ||||||||||||
| By: | /s/ Matthew P. Hughes | |||||||||||
| Name: | Matthew P. Hughes | |||||||||||
| Title: | Vice President | |||||||||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| (a)(1)(A) | Offer to Purchase, dated July 17, 2012.* | |
| (a)(1)(B) | Letter of Transmittal.* | |
| (a)(1)(C) | Notice of Guaranteed Delivery.* | |
| (a)(1)(D) | Letter from the Information Agent to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.* | |
| (a)(1)(E) | Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.* | |
| (a)(1)(F) | Joint Press Release issued by One Equity Partners and MModal Inc. on July 2, 2012 (incorporated by reference to Exhibit 99.1 to the Form 8-K filed by MModal Inc. with the Securities and Exchange Commission on July 3, 2012).* | |
| (a)(1)(G) | Summary Advertisement as published in the Wall Street Journal on July 17, 2012.* | |
| (a)(1)(H) | Joint Press Release issued by One Equity Partners and MModal Inc. on July 17, 2012.* | |
| (a)(1)(I) | Joint Press Release issued by One Equity Partners and MModal Inc. on July 24, 2012.** | |
| (a)(5)(A) | Complaint filed by Alan Kahn, on behalf of himself and all other similarly situated, on July 6, 2012, Court of Chancery of the State of Delaware.* | |
| (a)(5)(B) | Complaint filed by Edward Forstein, on behalf of himself and all other similarly situated, on July 9, 2012, Court of Chancery of the State of Delaware.* | |
| (a)(5)(C) | Complaint filed by Scott Phillips, on behalf of himself and all other similarly situated, on July 10, 2012, Court of Chancery of the State of Delaware.* | |
| (b)(1) | Debt Commitment Letter, dated as of July 2, 2012, among Legend Parent, Inc., Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Royal Bank of Canada.* | |
| (d)(1) | Agreement and Plan of Merger, dated as of July 2, 2012, by and among Legend Parent, Inc., Legend Acquisition Sub, Inc. and MModal Inc. (incorporated by reference to Exhibit 2.1 to the Form 8-K filed by MModal Inc. with the Securities and Exchange Commission on July 3, 2012).* | |
| (d)(2) | Limited Guaranty, dated as of July 2, 2012, by and between One Equity Partners V, L.P. and MModal Inc.* | |
| (d)(3) | Confidentiality Agreement, dated as of April 11, 2012, by and between One Equity Partners IV, L.P. and MModal Inc.* | |
| (d)(4) | Equity Commitment Letter, dated as of July 2, 2012, among One Equity Partners V, L.P., Legend Parent, Inc. and Legend Acquisition Sub, Inc.* | |
| (d)(5) | Support Agreement, dated as of July 2, 2012, by and among Legend Parent, Inc., Legend Acquisition Sub, Inc. and each of S.A.C. PEI CB Investment, L.P., S.A.C. PEI CB Investment II, LLC. International Equities (S.A.C. Asia) Limited and S.A.C. Multiquant Fund, LLC.* | |
| (g) | None. | |
| (h) | None. | |
| * | Previously filed. |
| ** | Filed herewith. |