8-A12B
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-A
FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR (g) OF THE
SECURITIES EXCHANGE ACT OF 1934
ALPHARMA INC.
(Exact name of registrant as specified in its charter)
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Delaware
(State of incorporation or organization)
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22-2095212
(I.R.S. Employer Identification No.) |
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440 Route 22 East
Bridgewater, New Jersey
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08807 |
(Address of principal executive offices)
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(Zip Code) |
Securities to be registered pursuant to Section 12(b) of the Act:
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Title of each class
to be so registered
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Name of each exchange on which each
class is to be registered |
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Preferred Stock Purchase Rights
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New York Stock Exchange, Inc. |
If this form relates to the registration of a class of securities pursuant to Section 12(b) of the
Exchange Act and is effective pursuant to General Instruction A.(c), check the following box. þ
If this form relates to the registration of a class of securities pursuant to Section 12(g) of the
Exchange Act and is effective pursuant to General Instruction A.(d), check the following box. o
Securities Act registration statement file number to which this form relates: N/A.
Securities to be registered pursuant to Section 12(g) of the Act: None.
TABLE OF CONTENTS
INFORMATION REQUIRED IN REGISTRATION STATEMENT
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Item 1. |
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Description of Registrants Securities to be Registered. |
On September 1, 2008, the Board of Directors of Alpharma Inc. (the Company) declared
a dividend of one preferred stock purchase right (a Right) for each outstanding share of
Class A Common Stock, par value $.20 per share, of the Company (the Class A Common Stock
and together with the Companys Class B Common Stock, par value $.20 per share, the Common
Stock). The dividend is payable on September 12, 2008 (the Record Date) to the
stockholders of record on that date. Each Right entitles the registered holder to purchase from
the Company one one-thousandth of a share of Series B Junior Participating Preferred Stock, par
value $1.00 per share (the Series B Preferred Stock), of the Company at a price of $65.00
per one-thousandth of a share of Series B Preferred Stock (as the same may be adjusted, the
Purchase Price). The description and terms of the Rights are set forth in the Rights
Agreement dated as of September 1, 2008 (as the same may be amended from time to time, the
Rights Agreement), between the Company and Computershare Trust Company, N.A., as Rights
Agent (the Rights Agent).
Until the close of business on the earlier of (i) the tenth day after the first date of a
public announcement that a person or group of affiliated or associated persons (an Acquiring
Person) has acquired beneficial ownership of 15% or more of the outstanding shares of Class A
Common Stock (other than any existing stockholder who, as of September 1, 2008, beneficially owns
more than such percentage, which existing stockholder will be precluded from acquiring additional
shares of Class A Common Stock after adoption of the Rights Agreement (other than pursuant to a
dividend or distribution paid or made by the Company on the outstanding Class A Common Stock or
pursuant to a split or subdivision of the outstanding Class A Common Stock)) or (ii) the tenth
business day (or such later date as may be determined by action of the Board of Directors prior to
such time as any person or group of affiliated persons becomes an Acquiring Person) after the date
of commencement of, or the first public announcement of an intention to commence, a tender offer or
exchange offer the consummation of which would result in the beneficial ownership by a person or
group of 15% or more of the outstanding shares of Class A Common Stock (the earlier of such dates
being called the Distribution Date), the Rights will be evidenced by the Common Stock
certificates.
The Rights Agreement provides that, until the Distribution Date (or earlier redemption or
expiration of the Rights), the Rights will be transferable only in connection with the transfer of
Common Stock. Until the Distribution Date (or earlier redemption or expiration of the Rights), the
surrender for transfer of any certificates for shares of Common Stock outstanding as of the Record
Date, even without a notation incorporating the Rights Agreement by reference or a copy of this
summary of Rights, will also constitute the transfer of the Rights associated with the shares of
Common Stock represented by such certificate. As soon as practicable following the Distribution
Date, separate certificates evidencing the Rights (Right Certificates) will be mailed to
holders of record of the Common Stock as of the close of business on the Distribution Date and such
separate Right Certificates alone will evidence the Rights.
The Rights are not exercisable until the Distribution Date. The Rights will expire on
September 1, 2009 (the Final Expiration Date), unless the Final Expiration Date is
extended or unless the Rights are earlier redeemed or exchanged by the Company, in each case as
described below. The Rights Agreement is effective as of September 1, 2008.
The Purchase Price payable, and the number of shares of Series B Preferred Stock or other
securities or property issuable, upon exercise of the Rights are subject to adjustment from time to
time to prevent dilution (i) in the event of a stock dividend on, or a subdivision, combination or
reclassification of, the Series B Preferred Stock, (ii) upon the grant to holders of the Series B
Preferred Stock of certain rights or warrants to subscribe for or purchase Series B Preferred Stock
at a price, or securities convertible into Series B Preferred Stock with a conversion price, less
than the then-current market price of the Series B Preferred Stock or (iii) upon the distribution
to holders of the Series B Preferred Stock of evidences of indebtedness or assets (excluding
regular periodic cash dividends or dividends payable in Series B Preferred Stock) or of
subscription rights or warrants (other than those referred to above).
The Rights are also subject to adjustment in the event of a stock dividend on the Common Stock
payable in shares of Common Stock or subdivisions, consolidations or combinations of the Common
Stock occurring, in any such case, prior to the Distribution Date.
Shares of Series B Preferred Stock purchasable upon exercise of the Rights will not be
redeemable. Each share of Series B Preferred Stock will be entitled, when, as and if declared, to
a minimum preferential quarterly dividend payment of the greater of (a) $1 per share and (b) an
amount equal to 1,000 times the dividend declared per share of Common Stock. In the event of
liquidation, dissolution or winding up of the Company, the holders of the Series B Preferred Stock
will be entitled to a minimum preferential liquidation payment of $1,000 per share (plus any
accrued but unpaid dividends) but will be entitled to an aggregate 1,000 times the payment made per
share of Common Stock. Each share of Series B Preferred Stock will have 1,000 votes, voting
together with the Common Stock. Finally, in the event of any merger, consolidation or other
transaction in which shares of Common Stock are converted or exchanged, each share of Series B
Preferred Stock will be entitled to receive 1,000 times the amount received per share of Common
Stock. These rights are protected by customary antidilution provisions.
Because of the nature of the Series B Preferred Stocks dividend, liquidation and voting
rights, the value of the one one-thousandth interest in a share of Series B Preferred Stock
purchasable upon exercise of each Right should approximate the value of one share of Class A Common
Stock.
In the event that any person or group of affiliated or associated persons becomes an Acquiring
Person, each holder of a Right, other than Rights beneficially owned by the Acquiring Person (which
will thereupon become void), will thereafter have the right to receive upon exercise of a Right and
payment of the Purchase Price, that number of shares of Class A Common Stock having a market value
of two times the Purchase Price.
In the event that, after a person or group has become an Acquiring Person, the Company is
acquired in a merger or other business combination transaction or 50% or more of
its consolidated assets or earning power are sold, proper provision will be made so that each
holder of a Right (other than Rights beneficially owned by an Acquiring Person which will have
become void) will thereafter have the right to receive, upon the exercise thereof at the
then-current exercise price of the Right, that number of shares of common stock of the person with
whom the Company has engaged in the foregoing transaction (or its parent), which number of shares
at the time of such transaction will have a market value of two times the Purchase Price.
At any time after any person or group becomes an Acquiring Person and prior to the acquisition
by such person or group of 50% or more of the outstanding shares of Class A Common Stock or the
occurrence of an event described in the prior paragraph, the Board of Directors of the Company may
exchange the Rights (other than Rights owned by such person or group which will have become void),
in whole or in part, at an exchange ratio of one share of Class A Common Stock, or a fractional
share of Series B Preferred Stock (or of a share of a similar class or series of the Companys
preferred stock having similar rights, preferences and privileges) of equivalent value, per Right
(subject to adjustment).
With certain exceptions, no adjustment in the Purchase Price will be required until cumulative
adjustments require an adjustment of at least 1% in such Purchase Price. No fractional shares of
Series B Preferred Stock will be issued (other than fractions which are integral multiples of one
one-thousandth of a share of Series B Preferred Stock, which may, at the election of the Company,
be evidenced by depositary receipts) and in lieu thereof, an adjustment in cash will be made based
on the market price of the Series B Preferred Stock on the last trading day prior to the date of
exercise.
At any time prior to the time an Acquiring Person becomes such, the Board of Directors of the
Company may redeem the Rights in whole, but not in part, at a price of $0.01 per Right (the
Redemption Price). The redemption of the Rights may be made effective at such time, on
such basis and with such conditions as the Board of Directors in its sole discretion may establish.
Immediately upon any redemption of the Rights, the right to exercise the Rights will terminate and
the only right of the holders of Rights will be to receive the Redemption Price.
For so long as the Rights are then redeemable, the Company may, except with respect to the
Redemption Price, amend the Rights Agreement in any manner. After the Rights are no longer
redeemable, the Company may, except with respect to the Redemption Price, amend the Rights
Agreement in any manner that does not adversely affect the interests of holders of the Rights.
Until a Right is exercised or exchanged, the holder thereof, as such, will have no rights as a
stockholder of the Company, including, without limitation, the right to vote or to receive
dividends.
A copy of the Rights Agreement is filed as Exhibit 4.1 to this Form 8-A. The foregoing
summary description of the Rights Agreement is qualified in its entirety by reference to such
exhibit.
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4.1 |
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Rights Agreement, dated as of September 1, 2008, between
Alpharma Inc. and Computershare Trust Company, N.A., as Rights Agent, which
includes the Form of Certificate of Designations for the Series B Junior
Participating Preferred Stock as Exhibit A, the Form of Right Certificate as
Exhibit B and the Summary of Rights as Exhibit C. |
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.
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ALPHARMA INC.
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DATED: September 5, 2008 |
By: |
/s/
Thomas J. Spellman III |
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Thomas J. Spellman III |
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Executive Vice President, General Counsel
and Corporate Secretary |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
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4.1 |
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Rights Agreement, dated as of September 1, 2008, between Alpharma Inc. and
Computershare Trust Company, N.A., as Rights Agent, which includes the Form of
Certificate of Designations for the Series B Junior Participating Preferred Stock as
Exhibit A, the Form of Right Certificate as Exhibit B and the Summary of Rights as
Exhibit C. |