SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
EEX Corporation
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(Name of the Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
26842V108
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(CUSIP Number)
Scott A. Arenare
Managing Director and General Counsel
Warburg Pincus LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 30, 2002
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
Page 2 of 7
SCHEDULE 13D
CUSIP NO. 26842V108
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Equity Partners, L.P.
I.D. # 13-3986317
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER 7 SOLE VOTING POWER
OF 0
SHARES ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 19,845,000*
BY ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
19,845,000*
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,845,000*
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.8%**
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14 TYPE OF REPORTING PERSON
PN
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* Represents (i) 9,922,500 shares of Common Stock issuable upon exercise of
the Series A Warrants (as defined herein) at an exercise price of $12 per
share; (ii) 2,362,500 shares of Common Stock issuable upon exercise of the
Series B Warrants (as defined herein) at an exercise price of $12 per
share; and (iii) 7,560,000 shares of Common Stock issuable upon exercise of
the Series C Warrants (as defined herein) at an exercise price of $12 per
share. Each of the Series A Warrants, Series B Warrants and Series C
Warrants become exercisable after August 31, 1999. However, the Series C
Warrants will be exercisable only as a stock appreciation right unless the
Company, prior to July 30, 2002, elects to allow the Series C Warrants to
be exercised for shares of Common Stock.
** Based on the number of shares reported as outstanding as of April 30, 2002
by the Company in its Quarterly Report on Form 10-Q for the three months
ended March 31, 2002.
Page 3 of 7
SCHEDULE 13D
CUSIP NO. 26842V108
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co.
I.D. # 13-6358475
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER 7 SOLE VOTING POWER
OF
SHARES ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 21,000,000*
BY ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
21,000,000*
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,000,000*
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.1%**
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14 TYPE OF REPORTING PERSON
PN
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* Represents (i) 10,500,000 shares of Common Stock issuable upon exercise of
the Series A Warrants (as defined herein) at an exercise price of $12 per
share; (ii) 2,500,000 shares of Common Stock issuable upon exercise of the
Series B Warrants (as defined herein) at an exercise price of $12 per
share; and (iii) 8,000,000 shares of Common Stock issuable upon exercise of
the Series C Warrants (as defined herein) at an exercise price of $12 per
share. Each of the Series A Warrants, Series B Warrants and Series C
Warrants become exercisable after August 31, 1999. However, the Series C
Warrants will be exercisable only as a stock appreciation right unless the
Company, prior to July 30, 2002, elects to allow the Series C Warrants to
be exercised for shares of Common Stock.
** Based on the number of shares reported as outstanding as of April 30, 2002
by the Company in its Quarterly Report on Form 10-Q for the three months
ended March 31, 2002.
Page 4 of 7
SCHEDULE 13D
CUSIP NO. 26842V108
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg Pincus LLC (f/k/a E.M. Warburg, Pincus & Co., LLC)
I.D. # 13-3536050
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
N/A
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS [ ]
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER 7 SOLE VOTING POWER
OF
SHARES ---------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 21,000,000
BY ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
21,000,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,000,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.1%**
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14 TYPE OF REPORTING PERSON
OO
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* Represents (i) 10,500,000 shares of Common Stock issuable upon exercise of
the Series A Warrants (as defined herein) at an exercise price of $12 per
share; (ii) 2,500,000 shares of Common Stock issuable upon exercise of the
Series B Warrants (as defined herein) at an exercise price of $12 per
share; and (iii) 8,000,000 shares of Common Stock issuable upon exercise of
the Series C Warrants (as defined herein) at an exercise price of $12 per
share. Each of the Series A Warrants, Series B Warrants and Series C
Warrants become exercisable after August 31, 1999. However, the Series C
Warrants will be exercisable only as a stock appreciation right unless the
Company, prior to July 30, 2002, elects to allow the Series C Warrants to
be exercised for shares of Common Stock.
** Based on the number of shares reported as outstanding as of April 30, 2002
by the Company in its Quarterly Report on Form 10-Q for the three months
ended March 31, 2002.
Page 5 of 7
EXPLANATORY NOTE
This Amendment No. 1 amends the Schedule 13D filed on behalf of Warburg,
Pincus Equity Partners, L.P., a Delaware limited partnership ("WPEP"), Warburg,
Pincus & Co., a New York general partnership ("WP"), and Warburg Pincus LLC
(f/k/a E.M. Warburg, Pincus & Co., LLC), a New York limited liability company
("WPLLC") on May 18, 1999, relating to the common stock, par value $0.01 per
share, of EEX Corporation, a Delaware corporation (the "Company"). Unless the
context otherwise requires, references herein to the "Common Stock" are to the
common stock of EEX Corporation, par value $0.01 per share.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER..
Item 6 of the Schedule 13D is hereby amended by adding a new second
paragraph thereto as follows:
On May 29, 2002, the Purchasers entered into a Voting Agreement and
Irrevocable Proxy (the "Voting Agreement") with Newfield Exploration
Company, a Delaware corporation ("Newfield"), pursuant to which, among
other things, the Purchasers agreed to vote their shares of Series B
Preferred Stock in favor the merger of a wholly owned subsidiary of
Newfield with and into the Company (the "Merger"). Pursuant to the Merger,
the shares of Series B Preferred Stock owned by the Purchasers will be
converted into an aggregate of 4,700,000 shares of Newfield's common stock,
par value $.01 per share ("Newfield Common Stock"), and shares of Common
Stock will be converted into .05703 shares of Newfield Common Stock. The
Voting Agreement provides, among other things, that Newfield will purchase
all outstanding Warrants owned by the Purchasers for an aggregate purchase
price of $10.00 and that the Registration Rights Agreement, dated January
8, 1999, among the Company and the Purchasers will be terminated, in each
case at the effective time of the Merger. The Purchasers have the right to
terminate the Voting Agreement if, prior to the effective time, the
consideration offered in the Merger is changed or Newfield purchases shares
of Common Stock on the open market at a price that is higher than the
consideration holders of Common Stock would receive in the Merger.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1 Voting Agreement and Irrevocable Proxy, dated as of May 29, 2002,
among Newfield Exploration Company, Warburg, Pincus Equity
Partners, L.P., Warburg, Pincus Netherlands Equity Partners I,
C.V., Warburg, Pincus Netherlands Equity Partners II, C.V. and
Warburg, Pincus Netherlands Equity Partners III, C.V.
Page 6 of 7
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: May 30, 2002 WARBURG, PINCUS EQUITY
PARTNERS, L.P.
By: Warburg, Pincus & Co.
General Partner
By: /s/ Scott A. Arenare
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Scott A. Arenare
Partner
Dated: May 30, 2002 WARBURG, PINCUS & CO.
By: /s/ Scott A. Arenare
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Scott A. Arenare
Partner
Dated: May 30, 2002 WARBURG PINCUS LLC
By: /s/ Scott A. Arenare
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Scott A. Arenare
Managing Director
Page 7 of 7
EXHIBIT INDEX
Exhibit 1 Voting Agreement and Irrevocable Proxy, dated as of May 29, 2002,
among Newfield Exploration Company, Warburg, Pincus Equity
Partners, L.P., Warburg, Pincus Netherlands Equity Partners I,
C.V., Warburg, Pincus Netherlands Equity Partners II, C.V. and
Warburg, Pincus Netherlands Equity Partners III, C.V.