UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
AMENDMENT
NO. 3 to
SCHEDULE
TO-I
(Rule
13e-4)
TENDER
OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF
THE SECURITIES EXCHANGE ACT OF 1934
ENERGY
CONVERSION DEVICES, INC.
(Name of
Subject Company (Issuer))
ENERGY
CONVERSION DEVICES, INC.
(Names of
Filing Person (Offeror))
Restricted
Stock Units
Convertible
into Common Stock, $0.01 Par Value per Share
(Title of
Class of Securities)
292659109
(CUSIP
Number of Class of Securities)
(Underlying
Class)
Jay
Knoll
Energy
Conversion Devices, Inc.
2956
Waterview Drive
Rochester
Hills, MI 48309-3484
(248)
293-0440
Copy
to:
W.
Andrew Jack
Covington
& Burling LLP
1201
Pennsylvania Avenue
Washington,
DC 20004-2401
(202)
662-5232
(Name,
address and telephone number of person authorized to
receive
notices and communications on behalf of filing persons)
CALCULATION
OF FILING FEE
Transaction Valuation*
|
|
Amount of Filing Fee**
|
|
$
|
1,181,483.16
|
|
$
|
65.93
|
|
*
Calculated solely for purposes of determining the filing fee. This amount
assumes that RSUs convertible into 97,724 shares of common stock of Energy
Conversion Devices, Inc. at $12.09 per share, the average of the high
and low sales prices for October 13, 2009, as reported on the NASDAQ Global
Select Market, will be issued in exchange for currently outstanding RSUs
pursuant to this offer.
** Previously
paid. The amount of the filing fee, calculated in accordance with
Rule 0-11(b)(2) of the Securities Exchange Act of 1934, as amended, equals
$55.80 per million dollars of the value of the transaction.
o
|
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:
Form or
Registration No.:
Filing
Party:
Date
Filed:
o
|
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:
o
|
third-party
tender offer subject to Rule 14d-1.
|
x
|
issuer
tender-offer subject to Rule 13e-4.
|
o
|
going
private transaction subject to Rule
13e-3.
|
o
|
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:
o
SCHEDULE
TO
This
Amendment No. 3 (this “Amendment No. 3”) amends and supplements the Tender Offer
Statement on Schedule TO (“Schedule TO”) filed with the Securities and Exchange
Commission on October 14, 2009, relating to an offer by Energy Conversion
Devices, Inc. (the “Company”) to its employees, subject to specified conditions,
to exchange certain Restricted Stock Units subject to the achievement of
performance goals for fiscal 2012 (the “2012 RSUs") and granted to employees of
the Company under the 2006 Stock Incentive Plan (the "plan"), convertible into
shares of the Company's common stock, $0.01 par value (the "Common
Stock").
This
Amendment is being filed to reflect the fact that the company has amended the
information provided under Item 10 of the Schedule TO.
The
Schedule TO is amended by the information contained in this Amendment No.
3. Only those items amended are reported herein. Except as specifically provided
herein, this Amendment No. 3 does not modify any of the information previously
reported in the Schedule TO. The information in the Offer to Exchange and
the Letter of Transmittal is incorporated by reference herein.
ITEM 10. FINANCIAL
STATEMENTS.
(c)
Summary Information
. The
information set forth in Item 10 of the Schedule TO is hereby amended
and supplemented by the following:
Summary
Historical Consolidated Financial Data
The Offer
to Exchange is hereby amended and supplemented by inserting the following
disclosure in the section entitled “About Energy Conversion
Devices”:
Summary Historical Consolidated
Financial Data
. The following table sets forth summary historical
consolidated financial data for the Company as of and for the three months ended
September 30, 2009, and for the years ended June 30, 2009 and
2008. Year-end financial data, in the opinion of our
management, has been prepared on the same basis as our audited consolidated
financial statements and reflect all adjustments, consisting of normal recurring
adjustments, necessary for a fair presentation of our results of operations and
financial position for such periods. Interim financial data, in the opinion of
our management, has been prepared on the same basis as our unaudited
consolidated financial statements and reflect all adjustments, consisting of
normal recurring adjustments, necessary for a fair presentation of our results
of operations and financial position for such periods. Historical results are
not necessarily indicative of future performance. The data should be read in
conjunction with our consolidated financial statements and related notes
incorporated by reference in the Offer to Exchange.
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Three
Months Ended
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Year
Ended June 30,
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September
30, 2009
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2009
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2008
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(in
thousands, except per share data)
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Total
revenue
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$
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42,944
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|
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$
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316,293
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$
|
255,861
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|
Total
expenses
|
|
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51,222
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|
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295,607
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|
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259,922
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Operating
income (loss)
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|
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(8,278
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)
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20,686
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|
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(4,061
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)
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Net
income
|
|
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(11,840
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)
|
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|
12,456
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|
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3,853
|
|
|
|
|
|
|
|
|
|
|
|
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Earnings
per share
|
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(0.28
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)
|
|
|
0.29
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|
|
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0.10
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Diluted
earnings per share
|
|
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(0.28
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)
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0.29
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0.09
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|
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|
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Book
value per share
|
|
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17.17
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|
|
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15.66
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|
|
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15.96
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Basic
weighted shares outstanding
|
|
|
42,299
|
|
|
|
42,277
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|
|
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40,231
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|
Diluted
shares outstanding
|
|
|
42,299
|
|
|
|
42,711
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|
|
|
41,138
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Ratio
of earnings to fixed charges
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|
|
|
|
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1.67
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|
|
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1.55
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June 30,
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|
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|
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2009
(1)
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2008
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|
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(in
thousands)
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|
|
|
|
|
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|
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Current
assets
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$
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446,741
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$
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450,106
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$
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590,012
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Noncurrent
assets
|
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672,776
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|
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625,991
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|
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451,955
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Current
liabilities
|
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97,777
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|
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59,661
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|
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52,103
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Noncurrent
liabilities
|
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295,481
|
|
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279,087
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|
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347,952
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|
(1) As
adjusted due to the implementation of FASB ASC470-20.
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:
November 10, 2009
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Energy
Conversion Devices, Inc.
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By: /s/
Jay B. Knoll
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Jay
B. Knoll
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Executive
Vice President, General Counsel
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and
Chief Administrative Officer
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