- Amended tender offer statement by Third Party (SC TO-T/A)
October 27 2008 - 8:30AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE
TO/A
(RULE 14d-100)
TENDER
OFFER STATEMENT UNDER SECTION 14(d)(1) or 13(e)(1) OF
THE
SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Napster, Inc.
(Name of Subject Company (Issuer))
Puma Cat Acquisition Corp.
a wholly-owned subsidiary of
Best Buy Co., Inc.
(Names of Filing Persons (Offerors))
Common Stock, Par Value $0.001 per Share
(Title of Class of
Securities)
630797108
(CUSIP Number of Class of Securities)
Joseph M. Joyce
Best Buy Co., Inc.
7601 Penn Avenue South
Richfield, MN 55423
(612) 291-1000
(Name, address and telephone number of person authorized to
receive notices and communications on behalf of filing persons)
Copy To:
John R. Houston, Esq.
Robins, Kaplan, Miller &
Ciresi L.L.P.
2800 LaSalle Plaza, 800 LaSalle Avenue
Minneapolis, MN 55402
(612) 349-8500
CALCULATION OF FILING FEE
Transaction
Valuation*
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Amount of Filing Fee
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$127,186,169.15
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$4,998.42
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*
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Estimated for purposes of calculating the amount of the filing fee
only. The filing fee calculation assumes the purchase of 47,922,611
outstanding shares of Issuer common stock, par value $0.001 per share, at a
price of $2.65 per share (including shares issued pursuant to restricted
stock awards) at an aggregate purchase price of $126,994,919.15; and an
aggregate of $191,250.00, representing the difference between the $2.65 per
share payable per share of common stock in the offer and the exercise price
of all in-the-money options that are vested or will vest on or prior to the
scheduled expiration date of the offer contemplated by this Schedule TO. The amount of the filing fee, calculated in
accordance with Rule 0-11 of the Securities Exchange Act of 1934, as
amended, and Fee Rate Advisory #6 for Fiscal Year 2008 issued by the
Securities and Exchange Commission on December 27, 2007, equals $39.30
per $1 million of the transaction value.
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x
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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.
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Amount Previously Paid: $4,998.42
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Form or Registration No.: Schedule TO
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Filing Party: Puma Cat Acquisition Corp. and Best Buy Co., Inc.
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Date Filed: September 26, 2008
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o
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Check the box if the filing relates solely to preliminary
communications made before the commencement of a tender offer.
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Check the appropriate boxes below to designate any transactions to
which the statement relates:
x
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third-party tender offer subject to Rule 14d-1.
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o
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issuer tender offer subject to Rule 13e-4.
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o
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going-private transaction subject to Rule 13e-3.
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o
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amendment to Schedule 13D under Rule 13d-2.
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Check the following box if the filing is a final amendment reporting
the results of the tender offer:
o
AMENDMENT NO. 4 TO SCHEDULE TO
This Amendment No. 4 (Amendment No. 4) amends and
supplements the Tender Offer Statement on Schedule TO filed with the U.S.
Securities and Exchange Commission (the SEC) on September 26, 2008, as
amended by Amendment No. 1, filed with the SEC on October 2, 2008;
Amendment No. 2, filed with the SEC on October 10, 2008; and
Amendment No. 3, filed with the SEC on October 14, 2008
(collectively, the Schedule TO). The
Schedule TO relates to the offer by Puma Cat Acquisition Corp., a Delaware
corporation (the Purchaser) and wholly-owned subsidiary of Best Buy Co., Inc.,
a Minnesota corporation (Best Buy), to purchase all outstanding shares of
common stock, par value $0.001 per share, and the stock purchase rights
associated with such shares (collectively, the Shares), of Napster, Inc.,
a Delaware corporation (Napster), at a purchase price of $2.65 per Share, net
to the seller in cash, without interest thereon, upon the terms and subject to
the conditions set forth in the Offer to Purchase dated September 26, 2008
(the Offer to Purchase), and in the related Letter of Transmittal (which,
together with any supplements or amendments thereto, collectively constitute
the Offer), copies of which are attached to the Schedule TO as Exhibits
(a)(1)(A) and (a)(1)(B), respectively.
Capitalized terms used and not otherwise defined in this Amendment No. 4
have the meanings assigned to such terms in the Offer to Purchase or in the
Schedule TO.
Items 1, 4, 8 and 11.
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Summary Term Sheet; Terms of the Transaction;
Interest in Securities of the Subject Company; Additional Information.
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Items
1, 4, 8 and 11 of the Schedule TO are hereby amended and supplemented as
follows:
At
12:00 midnight, Eastern Time, at the end of Friday, October 24, 2008, the
Offer expired. Based on information
provided by the Depositary, a total of 39,301,255 Shares, representing
approximately 83.3% of the outstanding Shares (including Shares tendered
through guaranteed delivery procedures), were validly tendered and not
withdrawn prior to the Expiration Date.
Purchaser accepted for purchase all Shares validly tendered and not
withdrawn in accordance with the terms of the Offer and will promptly pay for
such Shares. Best Buy also announced
that Purchaser has extended the Offer in order to solicit additional Shares for
tender in the Offer. The Subsequent
Offering Period for all of the remaining outstanding and untendered Shares will
commence at 9:00 a.m., Eastern Time, on Monday, October 27,
2008. Subject to the terms and
conditions of the Offer to Purchase, Napster stockholders tendering Shares
during the Subsequent Offering Period will receive $2.65 in cash, without
interest, for each Share tendered, which is the same amount paid to holders of
Shares who tendered Shares in the Offer.
Shares properly tendered during the Subsequent Offering Period will be
accepted as they are tendered and paid for promptly. The expiration date of the Subsequent
Offering Period is 12:00 midnight, Eastern Time, at the end of Wednesday, October 29,
2008. Procedures for tendering Shares
during the Subsequent Offering Period are the same as during the initial
offering period with two exceptions: (1) Shares
cannot be delivered by the guaranteed delivery procedure, and (2) Shares
tendered during the Subsequent Offering Period may not be withdrawn.
A
copy of the October 27, 2008 press release issued by Best Buy announcing
the expiration of the Offer, the acceptance for payment of the Shares validly
tendered and not withdrawn during the Offer, and the commencement of the
Subsequent Offering Period is attached as Exhibit (a)(1)(K) hereto
and is incorporated herein by reference.
2
Item 12.
Exhibits.
Item
12 of the Schedule TO is hereby amended and supplemented as follows:
(a)(1)(K) Press release
issued by Best Buy on October 27,
2008 (filed herewith)
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.
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PUMA CAT ACQUISITION CORP.
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By:
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/s/ Todd G. Hartman
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Name:
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Todd G. Hartman
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Its:
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Vice President
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BEST BUY CO., INC.
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By:
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/s/ Susan S. Grafton
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Name:
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Susan S. Grafton
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Its:
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Vice President, Controller
and Chief Accounting
Officer
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Dated: October 27, 2008
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4
EXHIBIT
INDEX
(a)(1)(K)
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Press release issued by Best Buy on October 27, 2008 (filed
herewith)
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