UNITED
STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
_________________
SCHEDULE
TO
(RULE
14d-100)
Tender Offer
Statement Pursuant to Section 14(d)(1) or 13(e)(1) of the Securities Exchange
Act of 1934
(Amendment No. 1)
_________________
LOJACK
CORPORATION
(Name of
Subject Company)
_________________
LEXUS ACQUISITION SUB,
INC.
(Offeror)
CALAMP
CORP.
(Parent of
Offeror)
(Names of Filing Persons)
COMMON STOCK, $0.01 PAR
VALUE PER SHARE
(Title of
Class of Securities)
539451104
(CUSIP
Number of Class of Securities)
Stephen M. Moran
Vice
President and General Counsel
CalAmp Corp.
1401 N. Rice Avenue
Oxnard, California
93030
(805) 987-9000
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications on Behalf of Filing Persons)
_________________
Copy to:
Peter W.
Wardle
Gibson, Dunn & Crutcher LLP
333 South Grand Avenue
Los Angeles, California
90071
(213) 229-7900
CALCULATION OF FILING FEE
Transaction Valuation* |
Amount of Filing Fee** |
$125,319,945.45 |
$12,619.72 |
* |
Estimated for
purposes of calculating the filing fee only. The transaction value was
calculated by adding (i) 18,969,614 shares of common stock, par value
$0.01 per share ("Shares"), of LoJack Corporation ("LoJack") issued and
outstanding as of January 29, 2016 multiplied by the offer price of $6.45
per share (the "Offer Price"); (ii) 714,289 Shares underlying LoJack
restricted stock awards as of January 29, 2016, which will accelerate and
become fully vested in connection with the transaction, multiplied by the
Offer Price; (iii) 1,447,866 Shares subject to issuance pursuant to LoJack
options as of January 29, 2016, multiplied by the Offer Price less the
weighted average exercise price for such options of $3.85; and (iv) 12,010
Shares subject to issuance pursuant to LoJack restricted stock units as of
January 29, 2016, multiplied by the Offer Price; and subtracting an amount
equal to (a) 850,100 Shares beneficially owned as of the date of this
document by Parent of Offeror, Offeror and its subsidiaries, multiplied by
(b) the Offer Price. The calculation of the filing fee is based on
information provided by LoJack as of January 29, 2016. |
** |
The amount of the
filing fee is calculated in accordance with Rule 0-11 of the Securities
Exchange Act of 1934, as amended, by multiplying the transaction valuation
by .0001007. |
[x] |
Check 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: |
|
$12,619.72 |
Filing
Party: |
CalAmp
Corp. |
Form or
Registration No.: |
|
Schedule
TO |
Date
Filed: |
February 16,
2016 |
[
] |
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. [ ]
If applicable, check the
appropriate box(es) below to designate the appropriate rule provision(s) relied
upon:
[ ] |
Rule
13e-4(i) (Cross-Border Issuer Tender Offer) |
[ ] |
Rule
14d-1(d) (Cross-Border Third-Party Tender
Offer) |
This Amendment No. 1 (this
"Amendment") amends and supplements the Tender Offer Statement on Schedule TO
filed with the U.S. Securities and Exchange Commission (the "SEC") on February
16, 2016 (together with any amendments and supplements thereto, including this
Amendment, the "Schedule TO") by CalAmp Corp., a Delaware corporation
("CalAmp"), and Lexus Acquisition Sub, Inc. ("Purchaser"), a Massachusetts
corporation and a wholly-owned subsidiary of CalAmp. This Schedule TO relates to
the offer by Purchaser to purchase all outstanding shares of common stock, par
value $0.01 per share (the "Shares"), of LoJack Corporation, a Massachusetts
corporation ("LoJack"), at $6.45 per Share, net to the seller in cash, without
interest and less any applicable withholding taxes, upon the terms and subject
to the conditions set forth in the Offer to Purchase, dated February 16, 2016
(the "Offer to Purchase"), and in the related Letter of Transmittal, copies of
which are attached hereto as Exhibits (a)(1)(A) and (a)(1)(B), respectively
(which, together with any amendments or supplements thereto, collectively
constitute the "Offer"). Capitalized terms used and not otherwise defined in
this Amendment shall have the meanings assigned to such terms in the Offer to
Purchase.
Documentation relating to the
tender offer has been mailed to LoJack stockholders and may be obtained at no
charge at the website maintained by the SEC at www.sec.gov and may also be obtained at no charge by directing
requests to D.F. King & Co., Inc. by telephone at (212) 269-5550 (collect)
or (866) 828-0221 (toll-free), or by email at lojack@dfking.com.
1
Items 4 and 11 of the
Schedule TO are amended and supplemented by the following:
The Offer expired, as
scheduled, at 12:00 midnight (Eastern time) on Monday, March 14, 2016 (one
minute after 11:59 P.M., Eastern time, on Monday, March 14, 2016). The
Depositary for the Offer has advised CalAmp and Purchaser that, as of the
Expiration Time, 14,925,959 Shares were validly tendered and not withdrawn. Such
Shares, when combined with the 850,100 Shares currently owned by Purchaser,
represent approximately 80.2% of the issued and outstanding Shares on a
fully-diluted basis. As such, the Minimum Condition has been satisfied. As all
other Offer Conditions have been satisfied, all Shares that were validly
tendered and not withdrawn (excluding 75,907 Shares tendered pursuant to
guaranteed delivery procedures that have not yet been delivered in settlement or
satisfaction of such guarantees) have been accepted for payment, and payment for
such Shares will be made promptly in accordance with the terms of the Offer at
the Offer Price, net to the seller in cash, without interest and less any
applicable withholding taxes.
In accordance with the Merger
Agreement, Purchaser commenced a subsequent offering period in connection with
the Offer, at 9:00 a.m. (Eastern time) on Tuesday, March 15, 2016, for all
remaining untendered Shares. The subsequent offering period will expire at 12:00
midnight (Eastern time) on Thursday, March 17, 2016 (one minute after 11:59
P.M., Eastern Time, on Thursday, March 17, 2016), unless extended. CalAmp and
Purchaser reserve the right to extend the subsequent offering period in
accordance with applicable law. Any such extension will be followed by a public
announcement, which will be issued no later than 9:00 A.M. (Eastern time) on the
next business day after the subsequent offering period was scheduled to expire.
Upon successful completion of
the subsequent offering period, stockholders of LoJack who validly tender their
shares during the subsequent offering period will receive the same $6.45 per
Share, net to the seller in cash, without interest and less any applicable
withholding taxes, that was paid to stockholders who tendered their shares
during the initial offer period. Procedures for tendering shares during the
subsequent offering period are the same as during the initial offer period with
two exceptions: (i) shares cannot be delivered by the guaranteed delivery
procedure; and (ii) pursuant to Rule 14d-7(a)(2) under the Securities Exchange
Act of 1934, as amended, shares validly tendered during the subsequent offering
period will be accepted for payment on a daily, as tendered basis and,
accordingly, may not be withdrawn.
If, following the subsequent
offering period, Purchaser owns more than 90% of the Shares, in accordance with
the Merger Agreement entered into by CalAmp, Purchaser and LoJack on February 1,
2016, Purchaser will effectuate a short-form merger in accordance with the
Merger Agreement and Section 11.05 of the MBCA, without the action of LoJacks
board of directors or the other stockholders of LoJack. Pursuant to the Merger
Agreement, LoJack has granted Purchaser the Top-Up Option exercisable within one
(1) business day following the expiration of a subsequent offering period, to
purchase from LoJack, with certain limitations, the number of Shares necessary
for Purchaser to complete a short-form merger with LoJack. Purchaser plans to
exercise the Top-Up Option in accordance with the Merger Agreement if, following
expiration of the subsequent offering period, Purchaser owns at least 82.2% but
less than 90% of the issued and outstanding Shares.
As a result of the Merger, the
Purchaser will be merged with and into LoJack, with LoJack surviving the Merger
as a direct, wholly-owned subsidiary of CalAmp. At the Effective Time, each
Share (other than Shares owned by (i) CalAmp or Purchaser, which will be
cancelled with no consideration; and (ii) any shareholders of LoJack who
properly exercise their appraisal rights, if applicable) will be cancelled and
converted into the right to receive $6.45 per Share, net to the seller in cash,
without interest and less any applicable withholding taxes. LoJack will be
delisted from the NASDAQ Global Select Market following the Merger.
The full text of the joint
press release issued by CalAmp and LoJack announcing the preliminary results of
the tender offer and the commencement of the subsequent offering period is
attached hereto as Exhibit (a)(5)(B) and is incorporated herein by
reference.
Item 12. Exhibits.
Item 12 of the Schedule TO is
hereby amended and supplemented by adding the following:
|
Exhibit |
|
Exhibit
Name |
|
(a)(5)(B) |
|
Joint Press
Release issued by CalAmp Corp. and LoJack Corporation on March 15,
2016. |
2
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.
Dated: March 15, 2016
CALAMP CORP. |
|
By: |
/s/ Richard Vitelle |
Name: |
Richard
Vitelle |
Title: |
Executive
Vice President, Chief Financial Officer and Secretary |
|
|
LEXUS ACQUISITION SUB, INC. |
|
By: |
/s/ Richard Vitelle |
Name: |
Richard
Vitelle |
Title: |
Treasurer
and Secretary |
3
EXHIBIT INDEX
Index No. |
(a)(1)(A) |
|
Offer to
Purchase, dated February 16, 2016.* |
(a)(1)(B) |
|
Form of
Letter of Transmittal.* |
(a)(1)(C) |
|
Form of
Notice of Guaranteed Delivery.* |
(a)(1)(D) |
|
Form of
Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other
Nominees.* |
(a)(1)(E) |
|
Form of
Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust
Companies and Other Nominees.* |
(a)(1)(F) |
|
Form of
Summary Advertisement, dated February 16, 2016.* |
(a)(5)(A) |
|
Joint Press
Release issued by CalAmp Corp. and LoJack Corporation on February 16,
2016.* |
(a)(5)(B) |
|
Joint Press
Release issued by CalAmp Corp. and LoJack Corporation on March 15,
2016. |
(b) |
|
Not
applicable. |
(d) |
|
Agreement
and Plan of Merger, dated February 1, 2016, by and among LoJack
Corporation, CalAmp Corp. and Lexus Acquisition Sub, Inc. (incorporated by
reference to Exhibit 2.1 to the Current Report on Form 8-K filed by CalAmp
Corp. on February 2, 2016).* |
(g) |
|
Not
applicable. |
(h) |
|
Not
applicable. |
* Previously
filed.
4
Exhibit (a)(5)(B)
N E W S B
U L L E T I N |
|
FROM: |
|
|
|
FOR IMMEDIATE RELEASE
CALAMP SUCCESSFULLY
COMPLETES TENDER OFFER
FOR
SHARES OF LOJACK, ACQUIRING 80.2% OF SHARES, AND COMMENCES
SUBSEQUENT
OFFERING PERIOD
OXNARD, CA and CANTON, MA
March 15, 2016 CalAmp Corp.
(NASDAQ: CAMP) (CalAmp) and LoJack Corporation (NASDAQ: LOJN) (LoJack)
announced today that CalAmps wholly-owned subsidiary, Lexus Acquisition Sub,
Inc. (Purchaser), has successfully completed its tender offer for the
outstanding shares of the common stock of LoJack at a price of $6.45 per share,
net to the seller in cash, without interest and less any applicable withholding
taxes.
The tender offer expired at
12:00 midnight (Eastern time) on Monday, March 14, 2016 (one minute after 11:59
P.M., Eastern time, on Monday, March 14, 2016). Computershare Trust Company,
N.A., the depositary for the tender offer, has advised Purchaser that a total of
14,925,959 shares of LoJack common stock were validly tendered and not withdrawn
in the tender offer (excluding 75,907 shares tendered pursuant to guaranteed
delivery procedures that have not yet been delivered in settlement or
satisfaction of such guarantees). Such shares, when combined with the 850,100
shares of LoJack common stock currently owned by Purchaser, represent
approximately 80.2% of the issued and outstanding shares of LoJack common stock
on a fully-diluted basis, and the condition to the Offer that at least
two-thirds (66 2/3%) of the total number of outstanding shares on a fully
diluted basis be validly tendered and not withdrawn prior to the expiration of
the tender offer has been satisfied. Accordingly, all shares that were validly
tendered and not withdrawn have been accepted for payment, and CalAmp is
promptly paying for all such tendered shares in accordance with the terms of the
tender offer.
To allow remaining LoJack
stockholders the opportunity to tender their shares, CalAmp and LoJack have also
announced the commencement of a subsequent offer period beginning today, March
15, 2016. The subsequent offer period will expire at 12:00 midnight (Eastern
time) on Thursday, March 17, 2016 (one minute after 11:59 P.M., Eastern Time, on
Thursday, March 17, 2016).
Upon successful completion of
the subsequent offer period, stockholders of LoJack who validly tender their
shares during the subsequent offer period will receive the same $6.45 per share,
net to the seller in cash, without interest and less any applicable withholding
taxes, that was paid to stockholders who tendered their shares during the
initial offer period. Procedures for tendering shares during the subsequent
offer period are the same as during the initial offer period with two
exceptions: (i) shares cannot be delivered by the guaranteed delivery procedure;
and (ii) pursuant to Rule 14d-7(a)(2) under the Securities Exchange Act of 1934,
as amended, shares validly tendered during the subsequent offer period will be
accepted for payment on a daily, as tendered basis and, accordingly, may not
be withdrawn.
If, following expiration of
the subsequent offering period, Purchaser owns more than 90% of the issued and
outstanding shares of LoJack common stock, in accordance with the Agreement and
Plan of Merger entered into by and among CalAmp, Purchaser and LoJack on
February 1, 2016 (the Merger Agreement), Purchaser will consummate a
short-form merger of Purchaser with and into LoJack without the vote of LoJacks
stockholders pursuant to Section 11.05 of the Massachusetts Business Corporation
Act.
Pursuant to the Merger
Agreement, LoJack has granted Purchaser an irrevocable option (the Top-Up
Option), exercisable within one business day following the expiration of a
subsequent offering period, to purchase from LoJack, with certain limitations,
the number of shares of LoJack common stock necessary for Purchaser to complete
a short-form merger with LoJack. Purchaser plans to exercise the Top-Up Option
in accordance with the Merger Agreement if, following expiration of the
subsequent offering period, Purchaser owns at least 82.2% but less than 90% of
the issued and outstanding shares of LoJack common stock.
Upon completion of the merger,
LoJack will become a wholly-owned subsidiary of CalAmp. In the merger, each
share of LoJack common stock that was not validly tendered in the tender offer
(other than shares held by CalAmp or Purchaser, or by any stockholders of LoJack
properly exercise their appraisal rights, if applicable) will be cancelled and
converted into the right to receive the same $6.45 per share, net to the seller
in cash, without interest and less any applicable withholding taxes, that was
paid in the tender offer. In addition, the parties anticipate that the common
stock of LoJack will cease to be traded on the NASDAQ Global Select Market
following completion of the merger.
About CalAmp Corp.
CalAmp is a proven leader in
providing wireless communications solutions to a broad array of vertical market
applications and customers. CalAmps extensive portfolio of intelligent
communications devices, robust and scalable cloud service platform, and targeted
software applications streamline otherwise complex Machine-to-Machine (M2M)
deployments. These solutions enable customers to optimize their operations by
collecting, monitoring and efficiently reporting business critical data and
desired intelligence from high-value mobile and remote assets. For more
information, please visit www.calamp.com.
About LoJack Corporation
LoJack, the company that has
helped more than nine million people protect their vehicles in the event of
theft over the past 25+ years, today provides safety, security and protection
for an ever-growing range of valuable assets and people. Leveraging its core
strengths, including its well-known brand, direct integration with law
enforcement and dealer distribution network, LoJack is expanding its business to
include its traditional vehicle and equipment theft recovery, people at risk and
new telematics-based products and services. LoJack is delivering new
telematics-based solutions for on-road and off-road fleet management, as well as
dealer inventory management. By expanding its brand beyond stolen vehicle
recovery, LoJack is committed to creating a new level of value for its dealer,
licensee, customer and investor communities by delivering innovative offerings
and multiple technologies in expanding geographies. For more information, visit www.lojack.com.
Forward-Looking
Statements
This release
contains forward-looking statements related to the proposed transaction and
business combination between CalAmp and LoJack, including statements regarding
the benefits and timing of the transaction, as well as statements regarding the
companies products, markets and growth opportunities. Forward-looking
statements are predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual future
events to differ materially from the forward-looking statements in this release,
including the following, among others: the minimum percentage of tendered shares
in the tender offer and the subsequent offer necessary to complete the
short-form merger may not be attained; closing of the transaction may not occur
or may be delayed; expected synergies and other financial benefits of the
transaction may not be realized; integration of the acquisition post-closing may
not occur as anticipated; litigation or alternative dispute resolution related
to the transaction or limitations or restrictions imposed by regulatory
authorities may delay or negatively impact the transaction; the pendency of the
transaction may result in disruptions to LoJacks business and make it more
difficult to maintain relationships with employees, customers, vendors and other
business partners; delays, disruptions or increased costs in the integration of
LoJacks technology in existing or new products and services may arise;
unanticipated restructuring costs may be incurred; attempts to retain key
personnel and customers may not succeed; the business combination or the
combined companies products may not be supported by third parties; actions by
competitors may negatively impact results; and there may be negative changes in
general economic conditions in the regions or the industries in which CalAmp and
LoJack operate. In addition, please refer to the documents that CalAmp and
LoJack file with the Securities and Exchange Commission (the SEC) on Forms
10-K, 10-Q, and 8-K, including the specific risk factors included in such
filings. These filings identify and address other important risks and
uncertainties that could cause events and results to differ materially from
those contained in the forward-looking statements set forth in this release.
Readers are cautioned not to put undue reliance on these forward-looking
statements, and CalAmp and LoJack assume no obligation to update, and do not
intend to update, these forward-looking statements, whether as a result of new
information, future events or otherwise.
Additional
Information
This release
relates to a pending business combination transaction between CalAmp and LoJack.
No statement in this release constitutes an offer to buy, or the solicitation of
an offer to sell, any securities. A solicitation and an offer to buy shares of
LoJack will be made only pursuant to the offer to purchase and related materials
that CalAmp filed with the SEC on February 16, 2016. CalAmp is filing today an
amendment to its Tender Offer Statement on Schedule TO related to the
transaction with the SEC and may file further amendments thereto, and thereafter
LoJack will file an amendment to its Solicitation/Recommendation Statement on
Schedule 14D-9 with respect to the tender offer. CalAmp and LoJack may also file
other documents with the SEC regarding the transaction. This document is not a
substitute for Schedule TO, the Schedule 14D-9 or any other document that CalAmp
or LoJack may file with the SEC in connection with the transaction. INVESTORS
AND SECURITY HOLDERS ARE URGED TO READ THE SCHEDULE TO (INCLUDING THE OFFER TO
PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS), THE
SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 AND THE OTHER RELEVANT
MATERIALS WITH RESPECT TO THE TRANSACTION CAREFULLY AND IN THEIR ENTIRETY BEFORE
MAKING ANY INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION, BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION.
The Tender Offer Statement on
Schedule TO and the Solicitation/Recommendation Statement on Schedule 14D-9 have
been sent free of charge to LoJacks stockholders. Such materials (and all other
offer documents filed with the SEC) will be available at no charge on the SEC's
Web site: www.sec.gov or by
directing such requests to D.F. King, the Information Agent for the tender
offer, by telephone at (212) 269-5550 (collect) or (866) 828-0221 (toll-free),
or by email at lojack@dfking.com. In addition, copies of LoJacks filings with
the SEC may also be obtained free of charge at the Investor Relations section
of LoJacks website at http://investors.lojack.com/financials.cfm.
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