UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO/A
(Amendment No. 1)
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
PROVECTUS
BIOPHARMACEUTICALS, INC.
(Name of Subject Company and Filing Person (Issuer))
Warrants to Purchase Common Stock
(Title of Class of Securities)
74373P108
(CUSIP Number
of Common Stock Underlying Warrants)
Peter R. Culpepper
Provectus Biopharmaceuticals, Inc.
7327 Oak Ridge Highway, Suite A
Knoxville, TN 37931
(866) 594-5999
(Name,
Address, and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)
With
copies to:
Tonya Mitchem Grindon, Esq.
Lori B. Metrock, Esq.
Baker Donelson Bearman Caldwell & Berkowitz PC
211 Commerce St., Suite 800
Nashville, TN 37201
Telephone: (615) 726-5600
CALCULATION
OF FILING FEE
|
|
|
Transaction Valuation(1) |
|
Amount of Filing Fee(2) |
$15,531,092.37 |
|
$1,563.98 |
(1) |
Estimated for purposes of calculating the amount of the filing fee only. Provectus Biopharmaceuticals, Inc. (the Company) is offering, until February 15, 2016 (unless the Offer (as defined below) is
extended), to holders of the Companys 59,861,601 unregistered warrants to purchase 59,861,601 shares of common stock, which were issued between January 6, 2011 and November 1, 2015 (the Existing Warrants), to temporarily
modify the terms of such Existing Warrants so that each Existing Warrant holder who tenders Existing Warrants during the offering period for early exercise in accordance with the terms of the Offer (i) may exercise such Existing Warrants at a
discounted exercise price of $0.75 per share and (ii) will receive, in addition to the shares of common stock purchased upon such exercise of the Existing Warrants, new warrants to purchase the same number of shares of the Companys common
stock at an exercise price of $0.85 per share that will expire June 19, 2020. The transaction valuation is calculated pursuant to Rule 0-11(d) of the Securities Exchange Act of 1934, as amended (the Exchange Act), as the product of
59,861,601 and $0.25945. The transaction valuation assumes the tender of 59,861,601 Existing Warrants by the Existing Warrant holders as a result of this tender offer and was determined by using the average of the high and low prices of the
Companys warrants reported on the NYSE MKT as of December 28, 2015, which was $0.25945. |
(2) |
The amount of filing fee is calculated pursuant to Rule 0-11(d) of the Exchange Act. The filing fee equals $100.70 for each $1,000,000 of the value of the transaction, and was calculated as the product of the
transaction valuation of $15,531,092.37 multiplied by 0.0001007. |
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: $11,212.20. |
|
Filing Party: Provectus Biopharmaceuticals, Inc. |
Form or Registration No.: Registration Statement on Form S-4. |
|
Date Filed: December 31, 2015. |
¨ |
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:
|
¨ |
third-party tender offer subject to Rule 14d-1. |
|
x |
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: ¨
EXPLANATORY NOTE
This Amendment No. 1 (this Amendment No. 1) amends and supplements the Tender Offer Statement on Schedule TO (as amended,
the Schedule TO) filed with the Securities and Exchange Commission by Provectus Biopharmaceuticals, Inc. (the Company), a Delaware corporation, on December 31, 2015. This Schedule TO relates to an offer by the Company to
holders of the Companys 59,861,601 unregistered warrants to purchase common stock that were issued between January 6, 2011 and November 1, 2015 (the Existing Warrants). Capitalized terms used herein but not otherwise
defined have the meanings set forth in the Schedule TO.
This Amendment No. 1 is being filed solely to extend the expiration
date of the Offer to 4:00 p.m. Eastern time on March 10, 2016, unless further extended or terminated. Other than the expiration date, the terms of the Offer have not changed.
Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 amends and restates the items of the
Schedule TO that are being amended and restated hereby, and unaffected items and exhibits in the Schedule TO are not included herein. This Amendment No. 1 should be read in conjunction with the Schedule TO and the related Offer
Letter/Prospectus as the same may be further amended or supplemented and filed with the Securities and Exchange Commission.
Item 1. |
SUMMARY TERM SHEET |
The information set forth in Item 4 below is incorporated
herein by reference.
Item 4. |
TERMS OF TRANSACTION |
This Amendment No. 1 amends and supplements Items 1 and 4 of
the Schedule TO as follows:
Extension of the Offer
The Company is extending the expiration date of the Offer until 4:00 p.m. Eastern Time on March 10, 2016, unless further extended. The
Offer had been previously scheduled to expire at 4:00 p.m. Eastern time on February 15, 2016. Throughout the Schedule TO, the Offer and the other offering materials and acceptance and exercise documents, all references to the expiration date of
the Offer are hereby amended to extend the expiration date of the Offer until 4:00 p.m. Eastern Time on March 10, 2016.
On or about
February 12, 2016, the Company intends to advise the holders of the Existing Warrants of the extension of the Offer. A copy of the letter to be sent to holders of the Existing Warrants is attached hereto as Exhibit (a)(1)(v) and is hereby
incorporated herein by reference.
Clarification of Withdrawal Rights
If you change your mind and do not want to participate in the Offer, you may submit a Notice of Withdrawal to Broadridge Corporate Issuer
Solutions, Inc. (Broadridge) at the address indicated in the Offer Letter/Prospectus filed with the Securities and Exchange Commission on January 20, 2016 at any time prior to the expiration date, which is now March 10, 2016.
The Notice of Withdrawal must be properly completed and must be returned to Broadridge on or prior to the expiration date.
The Exhibit Index appearing after the signature page hereto is incorporated by
reference.
ITEM 13. |
INFORMATION REQUIRED BY SCHEDULE 13E-3 |
Not applicable.
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.
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PROVECTUS BIOPHARMACEUTICALS, INC. |
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By |
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/s/ Peter R. Culpepper |
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Peter R. Culpepper |
|
|
Chief Financial Officer, Chief Accounting
Officer and Chief Operating Officer |
Dated: February 12, 2016
EXHIBIT INDEX
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Exhibit No. |
|
Description |
|
|
(a)(l)(i)* |
|
Offer Letter/Prospectus, dated December 31, 2015 (incorporated by reference to the Companys Registration Statement on Form S-4 filed on December 31, 2015). |
|
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(a)(1)(ii)* |
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Form of Letter of Transmittal (incorporated by reference to Exhibit 99.1 of the Companys Registration Statement on Form S-4 filed on December 31, 2015). |
|
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(a)(1)(iii)* |
|
Form of Notice of Guaranteed Delivery (incorporated by reference to Exhibit 99.2 of the Companys Registration Statement on Form S-4 filed on December 31, 2015). |
|
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(a)(1)(iv)* |
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Form of letter to Warrant holders (incorporated by reference to Exhibit 99.3 of the Companys Registration Statement on Form S-4 filed on December 31, 2015). |
|
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(a)(1)(v) |
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Supplemental Information Letter to Existing Warrant holders. |
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(a)(2) |
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None. |
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(a)(3) |
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None. |
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(a)(4)(A) |
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Exhibit (a)(1)(i) is incorporated by reference. |
|
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(b) |
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Not applicable. |
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(d)(i)* |
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Warrant Agreement between Provectus Biopharmaceuticals, Inc. and Broadridge Corporate Issuer Solutions, Inc. (incorporated by reference to Exhibit 4.1 to current report on Form 8-K filed June 19, 2015). |
|
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(d)(ii)* |
|
Form of First Amendment to Warrant Agreement between Provectus Biopharmaceuticals, Inc. and Broadridge Corporate Issuer Solutions, Inc. (incorporated by reference to Exhibit 4.3 of the Companys Registration Statement on
Form S-4 filed on December 31, 2015). |
|
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(d)(iii)* |
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Replacement Warrant. |
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(g) |
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None. |
|
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(h)* |
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Tax opinion of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC (incorporated by reference to Exhibit 8.1 of the Companys Registration Statement on Form S-4 filed on December 31, 2015). |
SUPPLEMENTAL INFORMATION LETTER TO HOLDERS OF EXISTING WARRANTS
Exhibit (a)(1)(v)
PROVECTUS BIOPHARMACEUTICALS, INC.
DATED: February 12, 2016
To the Holders of the Existing
Warrants:
Please note that due to the need to provide additional processing time to certain holders of Existing Warrants who have notified
us that they intend to exercise their Existing Warrants, as well as to provide additional time to holders who may still wish to exercise their Existing Warrants, we have extended the expiration date for the Offer until 4:00 p.m. Eastern Time,
Thursday, March 10, 2016. The Offer is to those holders which currently own an aggregate of 59,861,601 unregistered warrants to purchase common stock that were issued between January 6, 2011 and November 1, 2015 (the
Existing Warrants). All terms used herein shall have the same meaning as set forth in the Offer Letter/Prospectus, as amended to date.
The Offer, which was previously scheduled to expire February 15, 2016 at 4:00 p.m. Eastern Time, will now remain open until
March 10, 2016 at 4:00 p.m. Eastern Time.
In order to participate in the Offer, your Letter of Transmittal, Notice of
Guaranteed Delivery, Existing Warrant and cash payment must be submitted and received by Broadridge Corporate Issuer Solutions, Inc., our depository, by this new expiration date. If you have already submitted your election form and other documents,
unless you wish to withdraw, no further action is necessary. If you change your mind and do not want to participate in the Offer, you may submit a Notice of Withdrawal to Broadridge. However, to be effective, the Notice of Withdrawal must be
properly completed and must be returned to Broadridge on or prior to 4:00 p.m., Eastern Time on March 10, 2016, the Expiration Date of the Offer (or such later date and time if we further extend the Offer).
The Offer is subject to the terms and conditions described in the Offer Letter/Prospectus, and we urge you to read the Offer Letter/Prospectus
and the other documents governing the Offer.
Any questions or requests for assistance concerning the Offer should be directed to Maxim,
Network 1 or the Company using the contact information below:
Maxim Group LLC
Attn: Summer Kotb
405 Lexington
Avenue, 2nd Floor
New York, NY 10174
Phone: (212) 895-3511
Email: skotb@maximgrp.com
Network 1 Financial Securities, Inc.
Attn: William Heming Jr.
2
Bridge Avenue
Red Bank, NJ 07701
Phone: 1 (800) 866-7007
Email: billheming@netw1.com
Provectus Biopharmaceuticals, Inc.
Attn: Peter R. Culpepper
7327
Oak Ridge Highway, Suite A
Knoxville, TN 37931
Phone: (866) 597-5999
Email: pete@pvct.com
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Very truly yours, |
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/s/ Peter R. Culpepper |
Peter R. Culpepper |
Chief Financial Officer, Chief Accounting
Officer and Chief Operating Officer |
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