Current Report Filing (8-k)
10 5월 2013 - 3:00AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of
1934
Date of Report (Date of earliest event reported):
May 8, 2013
OUTDOOR
CHANNEL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
|
|
|
|
|
DELAWARE |
|
000-17287 |
|
33-0074499 |
(State or other jurisdiction of
incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
43455 Business Park Drive
Temecula, California 92590
(Address of principal executive offices,
including zip code)
(951) 699-6991
(Registrants telephone number, including area code)
(Former name
or former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement
Second Amendment to Merger Agreement
On May 8, 2013, Outdoor Channel Holdings, Inc. (Outdoor Channel) entered into Amendment No. 2 to the Agreement and Plan of Merger by and among Outdoor Channel, Kroenke
Sports & Entertainment, LLC (KSE) and KSE Merger Sub, Inc.(the Second Amendment). The Second Amendment modifies the previously announced Agreement and Plan of Merger, dated as of March 13, 2013, which was
previously amended on May 2, 2013 (as amended, the Merger Agreement).
Outdoor Channels board of
directors unanimously approved the Second Amendment and recommended that the Outdoor Channel stockholders vote to adopt the Merger Agreement at the special meeting of Outdoor Channel stockholders.
The Second Amendment increases the consideration to be paid to Outdoor Channels stockholders for their shares of Outdoor Channel
common stock if the merger is completed to $10.25 per share in cash from $9.35 per share in cash. Additionally, under the terms of the Second Amendment, the termination fee that Outdoor Channel will be required to pay KSE upon termination of
the amended merger agreement under specified circumstances, including termination by KSE in the event that the Outdoor Channel board of directors changes its recommendation and no longer recommends that the Outdoor Channel stockholders vote in favor
of the adoption of the amended merger agreement, has been increased to $7.5 million from $1 million. Further, under the Second Amendment, the Outdoor Channel board cannot terminate the Merger Agreement for a Superior Proposal (as defined in the
Merger Agreement), but instead Outdoor Channel must, unless KSE agrees otherwise, submit a proposal for the adoption of the Merger Agreement at a special meeting of the Outdoor Channel stockholders, even in the event of a change of board
recommendation.
The foregoing description of the Second Amendment is qualified in its entirety by the full text of the Second
Amendment attached hereto as Exhibit 2.1, which is incorporated herein by reference.
Amendment to Support Agreement
Concurrently with the execution of the Second Amendment, Thomas H. Massie, Perry T. Massie and certain of their affiliated entities (the
Massie Parties), the members of the Outdoor Channel Board of Directors and the executive officers of Outdoor Channel, collectively representing approximately 41% of the outstanding Outdoor Channel common stock (collectively, the
Supporting Parties), entered into an amendment to the support agreement (the Support Agreement Amendment) previously entered into by such parties with KSE on March 13, 2013 (as amended, the Support Agreement).
Under the terms of the Support Agreement, the Supporting Parties agreed, among other things, to vote their shares of Outdoor Channel common stock: (i) in favor of the adoption of the Merger Agreement, the merger and the other transactions
contemplated by the Merger Agreement; (ii) in favor of any proposal to adjourn or postpone any meeting of the Outdoor Channel stockholders if there are not sufficient votes for approval of the matters described in the preceding clause (i); and
(iii) except with the written consent of KSE, against (x) any Alternative Proposal (as defined in the Merger Agreement) with respect to Outdoor Channel that would impede the merger or (y) any other action or proposal involving Outdoor
Channel (or any subsidiary of Outdoor Channel) that would reasonably be expected to prevent or materially impede, interfere with or delay the merger. The Support Agreement Amendment amended the Support Agreement to provide that the Supporting
Parties will have no right to terminate the Support Agreement and will continue to be bound by their obligations thereunder, including their voting obligations described in the immediately foregoing sentence, in the event that the Outdoor Channel
board of directors changes its recommendation.
The foregoing description of the Support Agreement Amendment is qualified in
its entirety by the full text of the Support Agreement Amendment attached hereto as Exhibit 99.1, which is incorporated herein by reference.
Item 8.01 Other Events
On May 8, 2013, Outdoor Channel issued a press release announcing entry into the Second Amendment and the Outdoor Channel board of directors recommendation that Outdoor Channel
stockholders vote to approve the adoption of the Merger Agreement at the special meeting of Outdoor Channel stockholders.
Outdoor Channel also confirmed that its special meeting of stockholders has been adjourned and that Outdoor Channel anticipates that the
special meeting will be held next week. The location of the reconvened special meeting will remain Outdoor Channels facilities located at 43455 Business Park Drive in Temecula, California.
A copy of the press release is attached hereto as Exhibit 99.2 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
|
|
|
Exhibit No. |
|
Description |
|
|
2.1 |
|
Amendment No.2, dated as of May 8, 2013, to the Agreement and Plan of Merger dated March 13, 2013, as amended, by and among Kroenke Sports & Entertainment, LLC, KSE Merger Sub,
Inc. and Outdoor Channel Holdings, Inc. |
|
|
99.1 |
|
Amendment No. 1 to Support Agreement dated as of March 13, 2013, by and among KSE, the Massie Parties and each of the directors and executive officers of Outdoor
Channel |
|
|
99.2 |
|
Press Release, issued by Outdoor Channel, Holdings, Inc., dated May 8, 2013 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
OUTDOOR CHANNEL HOLDINGS, INC. |
|
|
Date: May 8, 2013 |
|
/s/ Catherine C. Lee |
|
|
Catherine C. Lee |
|
|
Exec. VP, General Counsel and Corporate Secretary |
INDEX TO EXHIBITS
|
|
|
|
|
Exhibit No. |
|
Description |
|
|
2.1 |
|
Amendment No.2, dated as of May 8, 2013, to the Agreement and Plan of Merger dated March 13, 2013, as amended, by and among Kroenke Sports & Entertainment, LLC, KSE
Merger Sub, Inc. and Outdoor Channel Holdings, Inc. |
|
|
99.1 |
|
Amendment No. 1to Support Agreement dated as of March 13, 2013, by and among KSE, the Massie Parties and each of the directors and executive officers of Outdoor
Channel |
|
|
99.2 |
|
Press Release, issued by Outdoor Channel, Holdings, Inc., dated May 8, 2013 |
Outdoor Channel Holdings, Inc. (MM) (NASDAQ:OUTD)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Outdoor Channel Holdings, Inc. (MM) (NASDAQ:OUTD)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024