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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-A/A
AMENDMENT NO. 1
TO REGISTRATION STATEMENT
ON FORM 8-A
FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR (g) OF THE
SECURITIES EXCHANGE ACT OF 1934
REALNETWORKS, INC.
(Exact name of registrant as specified in its charter)
WASHINGTON 91-1628146
(State of incorporation or organization) (I.R.S. Employer Identification No.)
2601 ELLIOTT AVENUE
SEATTLE, WASHINGTON 98121
(Address of principal executive offices, including Zip Code)
Securities to be registered pursuant to Section 12(g) of the Act:
Title of each class Name of each exchange on which
to be so registered: each class is to be registered:
PREFERRED STOCK PURCHASE RIGHTS NASDAQ NATIONAL MARKET
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. [ ]
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. [X]
Securities Act registration file number to which this form relates: Not
applicable.
Securities to be registered pursuant to Section 12(g) of the Act: Not
applicable.
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INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 1. Description of Registrant's Securities to be Registered.
On October 16, 1998, the Board of Directors of Real Networks, Inc. (the
"Company") declared a dividend distribution of one preferred stock purchase
right (each a "Right") for each outstanding share of Common Stock, par value
$0.001 per share, of the Company (the "Common Shares"), payable to the holders
of record of the Common Shares on December 14, 1998 (the "Record Date"). The
Rights dividend was declared by the Board of Directors in connection with its
adoption of the Shareholder Rights Plan, dated December 4, 1998, between the
Company and ChaseMellon Shareholder Services, L.L.C. (the "Rights Plan"),
attached as Exhibit 1 to this Registration Statement.
Until the earliest to occur of (i) a public announcement that, without
the prior approval of the Board of Directors of the Company, a person or group,
including any affiliates or associates of such person or group (an "Acquiring
Person"), acquired, or obtained the right to acquire, beneficial ownership of
fifteen percent or more of the outstanding Common Shares (the "Shares
Acquisition Date") or (ii) ten business days (or such later date as the Board
may determine) following the commencement or announcement of an intention (which
is not subsequently withdrawn within five business days after such announcement)
to make a tender offer or exchange offer which would result in any person or
group (and related persons) having beneficial ownership of fifteen percent or
more of the outstanding Common Shares without the prior consent of the Board of
Directors (the earliest of such dates being called the "Distribution Date"), the
Rights will be attached to all Common Share certificates and will be evidenced
by the Common Share certificates. The Rights Plan provides that, until the
Distribution Date, the Rights will be transferred with and only with the Common
Shares. Until the Distribution Date (or earlier redemption or expiration of the
Rights), new Common Share certificates issued after the Record Date upon
transfer, replacement or new issuance of Common Shares will contain a legend
incorporating the Rights Agreement by reference. Until the Distribution Date (or
earlier redemption, exchange or expiration of the Rights), the surrender for
transfer of any Common Share certificates outstanding as of the Record Date,
even without such a notation, will also constitute the transfer of the Right
associated with each of the Common Shares represented by such certificate. As
soon as practicable following the Distribution Date, separate certificates
evidencing the Rights ("Rights Certificates") will be sent by first class mail
to holders of record of the Common Shares as of the close of business on the
Distribution Date, and the separate Rights Certificates alone will evidence the
Rights and the Rights will be separately transferable from the Common Shares.
The Rights are not exercisable until the Distribution Date. The Rights
will expire on December 4, 2008, unless earlier redeemed or exchanged by the
Company as described below.
The preferred stock purchasable upon exercise of the Rights is
nonredeemable and junior to any other series of preferred stock the Company may
issue (unless
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otherwise provided in the terms of the Company's Articles of Incorporation, as
such may be amended from time to time). Each share of preferred stock will have
a preferential quarterly dividend in an amount equal to 1,000 times the dividend
declared on each Common Share. In the event of liquidation, the holders of
Preferred Stock will receive a preferred liquidation payment per share equal to
1,000 times the payment made to each Common Share. Each share of preferred stock
will have 1,000 votes, voting together with the Common Shares unless otherwise
required by law. In the event of any merger, consolidation or other transaction
in which Common Shares are exchanged, each share of preferred stock will be
entitled to receive 1,000 times the amount and type of consideration received
per Common Share. The rights of the preferred stock as to dividends, liquidation
and voting, and mergers and consolidations, are protected by customary
anti-dilution provisions. Fractional shares of preferred stock may be issued and
such fractional shares shall entitle the holder thereof, in proportion to such
holder's fractional shares, to have the benefit of all other rights of holders
of preferred stock.
In the event that any person becomes an Acquiring Person, each holder of
a Right generally will thereafter have the right for a sixty day period after
the later of the date of such event and the effectiveness of an appropriate
registration statement (or such other longer period set by the Board of
Directors) to receive upon exercise of the Right that number of Common Shares
(or, in the discretion of the Board of Directors, one one-thousandths of a
preferred share or other securities or property) having a market value of two
times the exercise price of the Right (such right being called the "Subscription
Right"). Notwithstanding the foregoing, following the occurrence of a person
becoming an Acquiring Person, all Rights that are, or under certain
circumstances specified in the Rights Plan were, beneficially owned by the
Acquiring Person will be null and void.
In the event that, at any time on or following the Shares Acquisition
Date, the Company is acquired in a merger or other business combination
transaction (whether or not the Company is the surviving entity) or 50% or more
of the Company's assets or earning power are sold (in one transaction or a
series of transactions), proper provision shall be made so that each holder of a
Right (except Rights that have been rendered void under the Rights Plan) shall
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 acquiring company (or, in the event there is more than one acquiring
company, the acquiring company receiving the greatest portion of the assets or
earning power transferred) which at the time of such transaction would have a
market value of two times the exercise price of the Right (such right being
called the "Merger Subscription Right"). The holder of a Right will continue to
have the Merger Subscription Right whether or not such holder exercises the
Merger Subscription Right.
The Purchase Price payable, the number of Rights and the number of
shares of Preferred Stock, Common Shares or other securities or property
issuable, upon exercise of the Rights are subject to adjustment form time to
time to prevent dilution (i) in the event of a stock dividend on, or a
subdivision, combination or reclassification of the Preferred Stock, (ii) upon
the grant to holders of the Preferred Stock of certain rights
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or warrants to subscribe for Preferred Stock, certain convertible securities or
securities having the same or more favorable rights, privileges and preferences
as the Preferred Stock at less than the current market price of the Preferred
Stock or (iii) upon the distribution to holders of the Preferred Stock of
evidences of indebtedness or assets excluding regular quarterly cash dividends
out of earnings or retained earnings and dividends payable in Preferred Stock or
of subscription rights or warrants (other than those referred to above). With
certain exceptions, no adjustment in the Purchase Price will be required until
cumulative adjustments require an adjustment of at least one percent in such
Purchase Price.
If at any time following the Record Date the Company shall pay a
dividend on the Common Shares in the form of Common Shares or effect a
subdivision, combination or consolidation of the outstanding Common Shares into
a greater or lesser number of Common Shares, then each outstanding Common Share
following such event shall continue to have one Right associated with it and the
exercise price of each Right will be proportionately adjusted.
At any time prior to the earliest to occur of (i) the close of business
on the Shares Acquisition Date or (ii) the expiration of the Rights, the Company
may redeem the Rights in whole, but not in part, at a price of $.01 per Right
(the "Redemption Price"), which redemption shall be effective immediately upon
the action of the Board of Directors. Additionally, following the Shares
Acquisition Date and the expiration of the period during which the Subscription
Right is exercisable, the Company may redeem the then outstanding Rights in
whole, but not in part, at the Redemption Price (i) in connection with any
merger, consolidation or sale or other transfer of fifty percent or more of the
Company's assets or earning power (a "Transaction") in which all holders of
Common Shares are treated alike and such Transaction does not involve an
Acquiring Person or (ii) if the Acquiring Person would not, as a result of such
redemption, obtain beneficial ownership of fifty percent or more of the Common
Shares and there exists no other Acquiring Person at the time of such
redemption. The Company may, at its option, pay the Redemption Price in Common
Shares or cash. Upon the effective date of the redemption of the Rights, the
right to exercise the Rights will terminate and the only right of Rights holders
will be to receive the Redemption Price.
In the event that a majority of the Board of Directors of the Company in
office following a meeting of shareholders or shareholder action by written
consent are not nominated by the Board of Directors serving immediately prior to
such meeting or action by written consent, then for a period of one hundred
twenty days following the effectiveness of such election the Rights may not be
redeemed or amended.
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Until a Right is exercised, the holder thereof, as such, will have no
rights as a shareholder of the Company, including the right to vote or to
receive dividends or any other incidents of ownership associated with the Common
Shares.
The Board of Directors of the Company may, at its option, after there
exists an Acquiring Person, exchange all or part of the then outstanding Rights
(other than those held by the Acquiring Person) for Common Shares at an exchange
ratio of one Common Share per Right, as such exchange ratio may be appropriately
adjusted to reflect any stock split, stock dividend or similar transaction
occurring after the Record Date. Notwithstanding the foregoing, the Board of
Directors shall not be empowered to effect such exchange at any time after any
the Acquiring Person becomes the beneficial owner of 50% or more of the Common
Shares then outstanding. Immediately upon the action of the Board of Directors
of the Company ordering the exchange of any Rights, the right to exercise such
Rights shall terminate. The Board of Directors, at its option, may substitute
preferred stock for some or all of the Common Shares exchangeable for the
Rights.
Except as set forth above, the terms of the Rights may be amended by the
Board of Directors of the Company without the approval of the Rights holders,
(i) prior to the Distribution Date in any manner and (ii) on or after the
Distribution Date to cure any ambiguity, to correct or supplement any provision
of the Rights Agreement which may be defective or inconsistent with any other
provisions, or in any manner not adversely affecting the interests of the
holders of the Rights (excluding the interests of any Acquiring Person), or,
subject to certain limitations, to shorten or lengthen any time period under the
Rights Agreement. Notwithstanding the foregoing, in the event a majority of the
Board of Directors of the Company is comprised of (i) persons elected at a
meeting of or by written consent of the shareholders and who were not nominated
by the Board of Directors in office immediately prior to such meeting or action
by written consent, and/or (ii) the successors of such persons, then for a
period of one hundred twenty days following the effectiveness of such election,
the Rights Plan may not be amended or supplemented except to the extent the
Company and the Rights Agent could amend or supplement the Rights Plan
following the Distribution Date.
The Rights have certain anti-takeover effects. The Rights may cause
substantial dilution to a person or group that attempts to acquire the Company
without conditioning the offer on the Rights being redeemed or a substantial
number of Rights being acquired. However, the Rights generally should not
interfere with any merger or other business combination approved by the Board of
Directors.
The foregoing description of the Rights Plan and the Rights is qualified
in its entirety by reference to the Rights Plan attached as Exhibit 1 hereto and
incorporated
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by reference herein.
Item 2. Exhibits.
1. Shareholder Rights Plan, dated as of December 4, 1998 between
RealNetworks, Inc. and ChaseMellon Shareholder Services, L.L.C.,
which includes, as Exhibit A thereto, the form of Certificate of
Designation specifying the terms of the Series A Preferred Stock,
as Exhibit B thereto, the form of Rights Certificate, and, as
Exhibit C thereto, the form of Rights Summary. Filed as Exhibit 1
to the Registrant's Registration Statement on Form 8-A filed with
the Commission on December 14, 1998 and incorporated herein by
reference.
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Pursuant to the requirements of Section 12 of the Securities Exchange
Act of 1934, the registrant has duly caused this registration statement to be
signed on its behalf by the undersigned, thereto duly authorized.
June 15, 1999
REALNETWORKS, INC.
By /s/ Kelly Jo MacArthur
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Kelly Jo MacArthur
Vice President, General Counsel
and Secretary
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Exhibit Index
Exhibit No. Description
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1. Shareholder Rights Plan, dated as of December 4, 1998 between
RealNetworks, Inc. and ChaseMellon Shareholder Services, L.L.C.,
which includes, as Exhibit A thereto, the form of Certificate of
Designation specifying the terms of the Series A Preferred Stock,
as Exhibit B thereto, the form of Rights Certificate, and, as
Exhibit C thereto, the form of Rights Summary. Filed as Exhibit 1
to the Registrant's Registration Statement on Form 8-A filed with
the Commission on December 14, 1998 and incorporated herein by
reference.
