SC TO-T/A (Amendment No. 2)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE TO

(Rule 14d-100)

TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

 

 

CHORDIANT SOFTWARE, INC.

(Name of subject company (Issuer))

 

 

MAPLE LEAF ACQUISITION CORP.

a wholly owned subsidiary of

PEGASYSTEMS INC.

(Name of Filing Persons (Offerors))

 

Common Stock, par value $0.001 per share   170404305
(Title of classes of securities)   (CUSIP number of common stock)

Shawn Hoyt

General Counsel and Secretary

Pegasystems Inc.

101 Main Street

Cambridge, MA 02142

(617) 374-9600

(Name, address, and telephone number of person authorized to receive notices and communications on behalf of Filing Persons)

 

 

Copies to:

Jeffrey D. Saper

Lawrence M. Chu

Wilson Sonsini Goodrich & Rosati,

Professional Corporation

650 Page Mill Road

Palo Alto, CA 94304

(650) 493-9300

 

 

CALCULATION OF REGISTRATION FEE

 

Transaction Valuation (1)

 

Amount of Filing Fee (2)

$165,678,120.00   $11,812.85

 

(1)

Estimated for purpose of calculating the filing fee only. The transaction valuation was determined by multiplying the purchase price of $5.00 per share by the sum of: (i) the 30,508,289 shares of common stock, par value $0.001 per share (the “Shares”), of Chordiant Software, Inc., a Delaware corporation, issued and outstanding as of March 12, 2010; (ii) 804,601 restricted stock units or restricted stock award relating to Shares; and (iii) the 1,822,734 Shares that are issuable under outstanding stock options to purchase Shares as of March 12, 2010 with an exercise price of less than $5.00 per Share.

(2)

The amount of the filing fee calculated in accordance with the Securities Exchange Act of 1934, as amended, equals $71.30 for each $1,000,000 of value.

 

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:

  $11,812.85   Filing Party:   Maple Leaf Acquisition Corp. and Pegasystems Inc.

Form of Registration No.:

  Schedule TO   Date Filed:   March 24, 2010

 

¨

Check the box if the filing relates solely to preliminary communications made before the commencement of the 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: ¨

 

 

 


This Amendment No. 2 (this “Amendment”) amends and supplements the Tender Offer Statement on Schedule TO (which, together with any amendments and supplements thereto, collectively constitute the “Schedule TO”) filed by (i) Maple Leaf Acquisition Corp., a Delaware corporation (“Purchaser”) and a wholly owned subsidiary of Pegasystems Inc., a Massachusetts corporation (“Pegasystems”) and (ii) Pegasystems. The Schedule TO relates to the offer by Purchaser to purchase all outstanding shares (the “Shares”) of common stock, par value $0.001 per share, of Chordiant Software, Inc., a Delaware corporation (the “Company”), at a price of $5.00 per Share, net to the holder in cash without interest, less any required withholding taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase dated March 24, 2010 (which, together with any amendments and supplements thereto, collectively constitute the “Offer to Purchase”) and in the related Letter of Transmittal, copies of which are attached as Exhibits (a)(1)(i) and (a)(1)(ii).

The information set forth in the Offer to Purchase (as amended hereby), including the Annexes thereto, is hereby incorporated by reference in answer to Items 1 through 11 of the Schedule TO, and is supplemented by the information specifically provided in this Amendment.

This Amendment is being filed with respect to certain information about the officers and directors of Pegasystems included in Annex I of the Offer to Purchase.

Amendment to the Offer to Purchase

Items 1 through 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in Annex I of the Offer to Purchase, are amended and supplemented, and Annex I of the Offer to Purchase is hereby amended and supplemented, by appending the following to the end of the section entitled “Directors” under the heading “Directors and Officers of Pegasystems”:

 

“William W. Wyman

   72   

Mr. Wyman has been a director of Pegasystems since June 2000. In 2001, Mr. Wyman served as the Chief Executive Officer of Predictive Systems, Inc., which was a systems consulting and installation company. In 1984, Mr. Wyman co-founded Oliver Wyman and Company, a management consulting firm serving large financial institutions. He served as Managing Partner until 1995, when he became a counselor to chief executives of several companies, and a director for a number of companies in the technology and financial sectors. Mr. Wyman serves as a director of Dice Holdings Inc. a company that operates an online job board, Castle Harlan, a private equity firm, Sprout Group, a private equity firm and Allston Holding LLC, a private proprietary trading firm. He also served from 2005 to 2009 as a director of Datascope Corp., a public company that manufactures medical devices. Prior to 1984, Mr. Wyman was a senior partner at Booz, Allen & Hamilton, where he served as President of the Management Consulting Group and head of the Financial Industries Practice. Mr. Wyman holds a degree in economics with honors from Colgate University and an M.B.A. degree from the Harvard Business School.”


Items 1 through 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in Annex I of the Offer to Purchase, are amended and supplemented, and Annex I of the Offer to Purchase is hereby amended and supplemented, by deleting the following from Annex I of the Offer to Purchase under the section entitled “Executive Officers” under the heading “Directors and Officers of Pegasystems”:

 

“Max Mayer

   60   

Mr. Mayer joined Pegasystems in 2004 as Vice President of Corporate Development. In November 2008, Mr. Mayer was promoted to Senior Vice President of Corporate Development. From 1999 to 2004, Mr. Mayer served as President and CEO of The Mayer Group, a management consulting firm. From 1995 to 1996, Mr. Mayer was President of Norstan, a publicly traded communications company. Prior to 1995, Mr. Mayer spent 15 years with Digital Equipment Corporation. He holds a B.A. from the University of Pennsylvania, an M.B.A. from Boston University, and completed executive education at Insead in Fontainebleau, France.”


After due inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

MAPLE LEAF ACQUISITION CORP.
By:  

/s/    Shawn Hoyt

Name:

 

Shawn Hoyt

Title:

 

Secretary

PEGASYSTEMS INC.
By:  

/s/    Shawn Hoyt

Name:

 

Shawn Hoyt

Title:

 

General Counsel and Secretary

Dated: April 6, 2010


EXHIBIT INDEX

 

Exhibit
Number

  

Description

(a)(1)(i)    Offer to Purchase, dated March 24, 2010.*†
(a)(1)(ii)    Form of Letter of Transmittal.* †
(a)(1)(iii)    Form of Notice of Guaranteed Delivery.* †
(a)(1)(iv)    Form of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.* †
(a)(1)(v)    Form of Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.* †
(a)(1)(vi)    Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9.* †
(a)(1)(vii)    Instructions for the Requestor of Forms W-8BEN, W-8ECI, W-8EXP, and W-8IMY*†
(a)(1)(viii)    Form of Summary Advertisement as published on March 24, 2010 in The New York Times. †
(a)(5)(i)    Joint Press Release issued by Pegasystems Inc. and Chordiant Software, Inc. on March 15, 2010. (1)
(a)(5)(ii)    Presentation, dated March 15, 2010. (2)
(a)(5)(iii)    Investor Conference Call Transcript, dated March 15, 2010. (3)
(a)(5)(iv)    Press Release issued by Pegasystems, Inc. on March 31, 2010. †
(b)    None.
(d)(1)    Agreement and Plan of Merger, dated as of March 14, 2010, by and among Pegasystems Inc., Maple Leaf Acquisition Corp. and Chordiant Software, Inc. (4)
(d)(2)    Form of Tender and Voting Agreement (5)
(d)(3)    Confidentiality Agreement, dated as of February 16, 2009, by and between Pegasystems Inc. and Chordiant Software, Inc., as amended. †
(g)    None.
(h)    None.

 

*

Included in mailing to stockholders.

Previously filed.

(1)

Incorporated by reference to Exhibit 99.1 to the Form 8-K filed by Pegasystems Inc. on March 15, 2010.

(2)

Incorporated by reference to Exhibit 99.1 to the Schedule TO-C filed by Pegasystems Inc. on March 15, 2010.

(3)

Incorporated by reference to Exhibit 99.1 to the Schedule TO-C filed by Pegasystems Inc. on March 16, 2010.

(4)

Incorporated by reference to Exhibit 2.1 to the Form 8-K filed by Pegasystems Inc. on March 15, 2010.

(5)

Incorporated by reference to Exhibit 10.1 to the Form 8-K filed by Pegasystems Inc. on March 15, 2010.