SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE TO
(Amendment No. 2)
(Rule 14d-100)
Tender
Offer Statement UNDER Section 14(
d
)(1) or 13(
e
)(1)
of
the Securities Exchange Act of 1934
WORLD POINT TERMINALS, LP
(Name of Subject Company (Issuer))
WORLD POINT TERMINALS, INC.
(Names of Filing Person (Offeror))
COMMON UNITS REPRESENTING LIMITED PARTNER
INTERESTS
(Title of Class of Securities)
98159G107
(CUSIP Number of Class of Securities)
Jonathan Q. Affleck
8235 Forsyth Boulevard, Suite 400
St. Louis, Missouri 63105
(314) 889-9660
(Name, Address, and Telephone Numbers of
Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)
Copies to:
Dennis J. Block
Greenberg Traurig, LLP
200 Park Avenue
New York, NY 10166
(212) 801-2222
|
Thomas A. Litz
Thompson Coburn LLP
One US Bank Plaza
St. Louis, MO 63101
(314) 552-6072
|
CALCULATION OF FILING FEE
Transaction Valuation*
|
Amount of Filing Fee**
|
$159,070,697
|
$18,437
|
|
*
|
The transaction valuation is estimated solely for purposes
of calculating the filing fee. The calculation assumes the purchase of all issued and outstanding common units (the “
Units
”)
of World Point Terminals, LP (the “
Partnership
”) not already beneficially owned by World Point Terminals, Inc.
(the “
Offeror
”) or its affiliates, at a price per Unit equal to $17.30, net to the holder in cash, without
interest thereon. As of May 31, 2017, 34,861,014 Units were outstanding, of which 25,666,176 Units were held by the Offeror
and its affiliates. Accordingly, this calculation assumes the purchase by the Offeror of 9,194,838 Units.
|
|
**
|
The amount of the filing fee is calculated in accordance
with Rule 0-11 of the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory # 1 for Fiscal Year 2017 issued by the
Securities and Exchange Commission, by multiplying the transaction valuation by $0.0001159.
|
|
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:
|
$18,437
|
Form or registration No.:
|
Schedule TO
|
Filing Party:
|
World Point Terminals, Inc
.
|
Date Filed:
|
June 2, 2017
|
|
¨
|
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.
|
|
x
|
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 No. 2
”) amends and supplements the Tender Offer Statement originally filed under cover of
Schedule TO (as amended and supplemented, the “
Schedule TO
”) by World Point Terminals, Inc
.,
a
Delaware corporation (the “
Offeror
”), on June 2, 2017. The Schedule TO relates to the offer by the Offeror
to purchase all outstanding common units (the “
Units
”) of World Point Terminals, LP, a Delaware limited
partnership (the “
Partnership
”), that are not already beneficially owned by the Offeror and its
affiliates, at a price per Unit equal to $17.30 (the “
Offer Price
”), net to the holder in cash, without
interest thereon and less any applicable tax withholding, and on the other terms and subject to the other conditions
specified in the Offer to Purchase, dated June 2, 2017 (as amended and supplemented, the “
Offer to
Purchase
”), and in the related Letter of Transmittal (which, together with any amendments or supplements thereto,
collectively constitute the “
Offer
”). All capitalized terms used in this Amendment without definitions
have the respective meanings ascribed to them in the Offer to Purchase.
Except as otherwise set forth herein, the
information set forth in the Schedule TO remains unchanged and is incorporated by reference into this Amendment No. 2.
The items of the Schedule TO set forth below
are hereby amended and supplemented as follows:
Items 1 through 9 and 11.
The Offer expired at 11:59 p.m., New
York City time, on June 29, 2017. According to Computershare Trust Company, N.A., the Depositary for the Offer, a total of
approximately 6,127,974 Units were validly tendered (and not properly withdrawn) pursuant to the Offer, which such total
included 118,679 Units subject to guaranteed delivery. The Offeror has accepted for payment all Units validly tendered (and
not properly withdrawn) pursuant to the Offer.
The number of Units validly
tendered (and not properly withdrawn) pursuant to the Offer satisfies the condition that there shall have been validly
tendered and not properly withdrawn prior to the expiration of the Offer such number of Units that, together with the Units
then collectively beneficially owned by the Offeror and its affiliates, represent at least one Unit more than 80% of the
then outstanding Units. In addition, the condition that the Formula Price (calculated as of the date immediately following
the date on which the Acceptance Time occurred, as if such date were a certain reference date specified in the Transaction
Agreement) does not exceed the Offer Price has been satisfied.
In accordance with the
Transaction Agreement, (1) immediately following the consummation of the Offer, the General Partner assigned and transferred
to the Offeror the right to purchase all of the remaining Units not tendered pursuant to the Offer that were not held by the
General Partner and its affiliates pursuant to Section 15.1(a) of the Partnership Agreement (such right, the “
Buyout
Right
”), and (2) on the date hereof, the Offeror exercised the Buyout Right by delivering to Computershare Trust
Company, N.A., the Transfer Agent for the Partnership, a written notice of the Offeror’s election to exercise the
Buyout Right to purchase (the “
Notice of Election to Purchase
”) all of the outstanding Units not tendered
pursuant to the Offer that were held by persons other than the Offeror or its affiliates (the “
Buyout
”),
at a price per Unit equal to $17.30, net to the seller in cash, without interest thereon, effective as of July 10, 2017 (the
“
Closing Date
”). In accordance with the Transaction Agreement and Section 15.1(b) of the Partnership
Agreement, the Transfer Agent will mail a copy of the Notice of Election to Purchase to the record holders of Units as of
June 29, 2017, the record date for the Buyout, together with such other information as may be required by applicable law.
From and after the Closing Date, the Offeror
and its affiliates will collectively beneficially own 100% of the outstanding Units. Upon consummation of the Buyout, there will
be no public market for the Units, which will cease to be quoted or traded on the NYSE and will be deregistered under the Exchange
Act.
Item 12. Exhibits
Item 12 of the Schedule TO is hereby amended
and supplemented by adding the following exhibits:
|
(a)(1)(viii)
|
Press Release, dated June 30, 2017 (filed as Exhibit 99.1 to the Current Report on Form 8-K filed by World Point Terminals,
LP on June 30, 2017 and incorporated herein by reference).
|
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.
Date: June 30, 2017
|
WORLD POINT TERMINALS, INC.
|
|
|
|
|
By:
|
/s/ Jonathan Q. Affleck
|
|
|
Name: Jonathan Q. Affleck
|
|
|
Title: Vice President and Chief Financial Officer
|
EXHIBIT INDEX
Item 1016(a), (b), (d), (g) and (h) of Regulation M-A
(a)(1)(i)*
|
|
Offer to Purchase, dated June 2, 2017.
|
|
|
|
(a)(1)(i)(a)*
|
|
Amendment No. 1 to the Offer to Purchase, dated June 21, 2017.
|
|
|
|
(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)*
|
|
Form of Summary Advertisement to be published in
The New York Times
on June 5, 2017.
|
|
|
|
(a)(1)(vii)*
|
|
Press Release, dated June 2, 2017.
|
|
|
|
(a)(1)(viii)†
|
|
Press Release, dated June 30, 2017 (filed as Exhibit 99.1 to the Current Report on Form 8-K filed by World Point Terminals, LP on June 30, 2017 and incorporated herein by reference).
|
|
|
|
(a)(5)(i)†
|
|
Materials prepared by Robert W. Baird & Co. Incorporated for the Special Committee of the Board of Directors of World Point Terminals, Inc., dated May 19, 2017 (filed as Exhibit (c)(6) to the Schedule 13E-3 filed by World Point Terminals, Inc., WPT GP, LLC and World Point Terminals, LP on June 2, 2017 and incorporated herein by reference).
|
|
|
|
(a)(5)(ii)†
|
|
Materials prepared by Robert W. Baird & Co. Incorporated for the Special Committee of the Board of Directors of World Point Terminals, Inc., dated May 11, 2017 (filed as Exhibit (c)(7) to Amendment No. 1 to the Schedule 13E-3 filed by World Point Terminals, Inc., WPT GP, LLC and World Point Terminals, LP on June 21, 2017 and incorporated herein by reference).
|
|
|
|
(b)†
|
|
Credit Agreement, dated as of August 14, 2013, among Center Point Terminal Company, LLC, as the Borrower, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent, and the lenders from time to time party thereto (filed as Exhibit 10.5 to the Current Report on Form 8-K filed by World Point Terminals, LP on August 20, 2013 and incorporated herein by reference).
|
|
|
|
(d)(1)*
|
|
Transaction Agreement, dated as of June 1, 2017, by and among the Offeror, WPT GP, LLC, and the Partnership.
|
|
|
|
(d)(2)†
|
|
First Amended and Restated Agreement of Limited Partnership of World Point Terminals, LP, dated as of August 14, 2013, as amended (filed as Exhibit 3.1 to Form 8-K filed by World Point Terminals, LP on August 20, 2013 and incorporated herein by reference).
|
|
|
|
(g)
|
|
None.
|
|
|
|
(h)
|
|
None.
|
* Filed previously.
† Incorporated by reference
WORLD POINT TERMINALS, LP (NYSE:WPT)
Historical Stock Chart
From May 2024 to Jun 2024
WORLD POINT TERMINALS, LP (NYSE:WPT)
Historical Stock Chart
From Jun 2023 to Jun 2024