UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
PRIMORIS SERVICES CORPORATION
(Name of Subject Company (Issuer) and Filing Person (Offeror))
WARRANTS TO PURCHASE COMMON STOCK
(Title of Class of Securities)
74164F 11 1
(CUSIP Number of Warrants)
74164F 20 2
(CUSIP Number of Units)
Brian Pratt
Chairman of the Board, Chief Executive Officer and President
Primoris Services Corporation
26000 Commercentre Drive
Lake Forest, California 92630
(949) 598-9242
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Filing Person)
Copies To:
Steve Wolosky, Esq.
Olshan Grundman Frome Rosenzweig & Wolosky LLP
Park Avenue Tower, 65 East 55th Street
New York, New York 10022
(212) 451-2300
CALCULATION OF FILING FEE:
Transaction valuation | Amount of filing fee(1) | |
---|---|---|
$4,500,000 | $176.85 | |
Amount Previously Paid: Not applicable
Filing Party: Not applicable.
Form or Registration No.: Not applicable.
Date Filed: Not applicable.
Check the appropriate boxes below to designate any transactions to which the statement relates:
Check the following box if the filing is a final amendment reporting the results of a tender offer: o
This Tender Offer Statement on Schedule TO relates to the offer (the "Offer") by Primoris Services Corporation ("Primoris" or the "Company") to purchase up to $4,500,000 worth of the Company's publicly traded and privately placed common stock purchase warrants, each of which entitles the holder to purchase one share of our Common Stock at a price of $5.00 per share and is exercisable at any time on or prior to October 2, 2010, unless earlier redeemed (collectively, the "Warrants"), at a price not greater than $1.20 nor less than $0.85 per Warrant, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the Offer to Purchase for Cash dated November 26, 2008 (the "Offer to Purchase"), a copy of which is attached hereto as Exhibit (a)(1)(A), and in the related Letter of Transmittal (the "Letter of Transmittal"), a copy of which is attached hereto as Exhibit (a)(1)(B). This Tender Offer Statement on Schedule TO is intended to satisfy the reporting requirements of Rule 13e-4(c)(2) of the Securities Exchange Act of 1934, as amended. The information contained in the Offer to Purchase and the related Letter of Transmittal is incorporated herein by reference in response to all of the items of this Schedule TO, as more particularly described below.
The information set forth in the Offer to Purchase under the section entitled "Summary" is incorporated herein by reference.
Item 2. SUBJECT COMPANY INFORMATION
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Item 3. IDENTITY AND BACKGROUND OF FILING PERSON
Name
|
Position with the Company | |
---|---|---|
Brian Pratt | Chairman of the Board, Chief Executive Officer, President and Director |
|
John P. Schauerman |
Chief Financial Officer and Director |
|
Eric S. Rosenfeld |
Director |
|
Peter J. Moerbeek |
Director |
|
Stephen C. Cook |
Director |
|
David D. Sgro |
Director |
|
Thomas E. Tucker |
Director |
|
John M. Perisich |
Senior Vice President, General Counsel and Secretary |
|
Alfons Theeuwes |
Senior Vice President of Accounting and Finance |
The address of the Company and each of the Company's executive officers and directors is 26000 Commercentre Drive, Lake Forest, California 92630 and the Company's telephone number is (949) 598-9242.
The information set forth in the Offer to Purchase under "The Offer, Section 8, Information Concerning the Company and Purposes of the OfferBeneficial Ownership of Warrants by Directors and Executive Officers" and "The Offer, Section 11, Transactions and Agreements Concerning the Warrants", are incorporated herein by reference.
Item 4. TERMS OF THE TRANSACTION
Item 5. PAST CONTRACTS, TRANSACTIONS, NEGOTIATIONS AND AGREEMENTS
Item 6. PURPOSES OF THE TRANSACTION AND PLANS OR PROPOSALS
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Item 7. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 8. INTEREST IN SECURITIES OF THE SUBJECT COMPANY
Item 9. PERSONS/ASSETS, RETAINED, EMPLOYED, COMPENSATED OR USED
The Company has retained Continental Stock Transfer & Trust Company ("Continental") to act as the Depositary. MacKenzie may contact Warrant holders by mail, telephone, facsimile, telex, telegraph or other electronic means, and may request brokers, dealers, commercial banks, trust companies and other nominee Warrant holders to forward material relating to the Offer to beneficial owners. Each of Continental and MacKenzie will receive reasonable and customary compensation for its services in connection with the Company's Offer, plus reimbursement for out-of-pocket expenses, and will be indemnified by the Company against certain liabilities and expenses in connection therewith.
Item 11. ADDITIONAL INFORMATION
4
The following are attached as exhibits to this Schedule TO:
(a)(1)(A) | Offer to Purchase for Cash, dated November 26, 2008. | |
(B) |
Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9). |
|
(C) |
Notice of Guaranteed Delivery. |
|
(D) |
Form of letter to brokers, dealers, commercial banks, trust companies and other nominees. |
|
(E) |
Form of letter to be used by brokers, dealers, commercial banks, trust companies and other nominees to their clients. |
|
(5)(A) |
Press Release dated November 26, 2008. |
|
(B) |
Registrant's Form 424(b)(3) Final Prospectus filed July 10, 2008, SEC File No. 333-150343 (Incorporated by reference). |
|
(C) |
Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 and filed November 14, 2008 (Incorporated herein by reference). |
|
(D) |
Current Report on Form 8-K dated July 31, 2008, filed August 6, 2008, as amended on August 11, 2008 (Incorporated herein by reference). |
Item 13. INFORMATION REQUIRED BY SCHEDULE 13E-3
Not applicable.
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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.
PRIMORIS SERVICES CORPORATION |
||||
By: |
/s/ JOHN P. SCHAUERMAN |
|||
Name: | John P. Schauerman | |||
Title: | Chief Financial Officer and Director |
Date: November 26, 2008
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Exhibit No. | Description | |
---|---|---|
(a)(1)(A) | Offer to Purchase for Cash, dated November 26, 2008. | |
(B) |
Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9). |
|
(C) |
Notice of Guaranteed Delivery. |
|
(D) |
Form of letter to brokers, dealers, commercial banks, trust companies and other nominees. |
|
(E) |
Form of letter to be used by brokers, dealers, commercial banks, trust companies and other nominees to their clients. |
|
(5)(A) |
Press Release dated November 26, 2008. |
|
(B) |
Registrant's Form 424(b)(3) Final Prospectus filed July 10, 2008, SEC File No. 333-150343 (Incorporated by reference). |
|
(C) |
Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 and filed November 14, 2008 (Incorporated herein by reference). |
|
(D) |
Current Report on Form 8-K dated July 31, 2008, filed August 6, 2008, as amended on August 11, 2008 (Incorporated herein by reference). |
|
(d) |
Form of Warrant Agreement between Continental Stock Transfer & Trust Company and Rhapsody Acquisition Corp (Incorporated herein by reference to Rhapsody Acquisition Corp.'s Registration Statement on Form S-1 or amendments thereto (SEC File No. 333-134694). |