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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-A/A-2
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AMENDMENT NO. 1 TO REGISTRATION STATEMENT
PURSUANT TO SECTION 12(b) OR (g) OF THE
SECURITIES EXCHANGE ACT OF 1934
ARCADIA FINANCIAL LTD.
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(Exact name of registrant as specified in its charter)
MINNESOTA 41-1664848
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(State of incorporation or organization) (I.R.S. Identification No.)
7825 WASHINGTON AVENUE SOUTH,
MINNEAPOLIS, MINNESOTA 55439-2435
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(Address of principal executive offices) (Zip Code)
SECURITIES TO BE REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of each class Name of each exchange on which
to be so registered each class is to be registered
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Rights to Purchase New York Stock Exchange
Class A Preferred Stock
If this Form relates to the registration of a class of debt securities and is
effective upon filing pursuant to General Instruction A.(c)(1), please check the
following box. / /
If this Form relates to the registration of a class of debt securities and is to
become effective simultaneously with the effectiveness of a concurrent
registration statement under the Securities Act of 1933 pursuant to General
Instruction A.(c)(2), please check the following box. / /
SECURITIES TO BE REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
NONE
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(Title of Class)
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Item 1. DESCRIPTION OF SECURITIES TO BE REGISTERED.
The response to Item 1 is hereby amended by adding the following
paragraphs and the attached exhibit.
On October 5, 1998, Arcadia Financial Ltd. (the "Company") executed
Amendment No. 2 to Rights Agreement, dated October 5, 1998 ("Amendment
No. 2"), to Rights Agreement, dated as of November 1, 1996, as amended by
Amendment No. 1 to Rights Agreement, dated January 16, 1998 (as so amended,
the "Rights Agreement") between the Company and Norwest Bank Minnesota, N.A.
The Rights Agreement, as amended by Amendment No. 2, sets forth the
description and the terms of the rights held by holders of the Company's
common stock, par value $.01 per share, to purchase one unit initially
consisting of one one-hundredth of a share of Preferred Stock of the Company.
Amendment No. 2 amended Section 1(a) of the Rights Agreement to
increase the percentage ownership threshold contained in the definition of
"Acquiring Person" from 18% to 20%. The other provisions of the Rights
Agreement continue in full force as set forth therein and were not affected
in any way by Amendment No. 2.
The foregoing description of Amendment No. 2 does not purport to be
complete and is qualified in its entirety by reference to Amendment No. 2,
which is attached hereto as an exhibit and incorporated herein by reference.
Item 2. EXHIBITS.
The following exhibit is filed with this Amendment to Registration
Statement on Form 8-A:
Exhibit No. Description
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1 Amendment No. 2 to Rights Agreement, dated
October 5, 1998, to Rights Agreement, dated as
of November 1, 1996 between Arcadia Financial
Ltd. and Norwest Bank Minnesota, N.A.
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Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the registrant has duly caused this amendment to
registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized.
October 8, 1998 ARCADIA FINANCIAL LTD.
By: /s/ James D. Atkinson III
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James D. Atkinson III
Senior Vice President
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AMENDMENT NO. 2
TO
RIGHTS AGREEMENT
Amendment No. 2 to Rights Agreement, dated October 5, 1998, to Rights
Agreement, dated as of November 1, 1996, as amended by Amendment No. 1 to Rights
Agreement, dated January 16, 1998 (as so amended, the "Rights Agreement")
between Arcadia Financial Ltd. (formerly Olympic Financial Ltd.), a Minnesota
corporation, and Norwest Bank Minnesota, N.A. (all terms not otherwise defined
herein shall have the meanings ascribed to them in the Rights Agreement).
WITNESSETH:
WHEREAS, the Company and the Rights Agent have previously entered into
the Rights Agreement specifying the terms of the Rights;
WHEREAS, Section 27 of the Rights Agreement provides that, prior to
the Distribution Date and subject to certain limitations contained in such
Section, the Company may by resolution of its Board of Directors (which
resolution shall be effective only with the concurrence of a majority of the
Continuing Directors and only if the Continuing Directors constitute a majority
of the number of directors then in office) and the Rights Agent shall, if the
Company so directs, supplement or amend any provision of the Rights Agreement
without the approval of any holders of certificates representing shares of
Common Stock;
WHEREAS, no Distribution Date has occurred;
WHEREAS, Continuing Directors constitute a majority of the number of
directors currently in office; and
WHEREAS, the Company's Board of Directors, with the concurrence of a
majority of the Continuing Directors, has duly approved amending the Rights
Agreement to contain the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the premises and the mutual
agreements set forth herein, the parties hereby agree as follows:
1. Amendment to Section 1(a). Section 1(a) of the Rights Agreement
is hereby amended in its entirety to read as follows:
(a) "'Acquiring Person' shall mean any Person who or which, together
with all Affiliates and Associates of such Person, shall be the
Beneficial Owner of 20% or more of the shares of Common Stock
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then outstanding, but shall not include (i) the Company, (ii) any
Subsidiary of the Company, (iii) any employee benefit plan of the
Company or of any Subsidiary of the Company, (iv) any Person or
entity organized, appointed or established by the Company for or
pursuant to the terms of any such plan, or (v) any person holding
Common Stock issued to that person by the Company in a
transaction approved in advance by a majority of the Continuing
Directors of the Company to the extent and only to the extent so
approved (each of (i) through (v), an "EXEMPTED PERSON").
Notwithstanding the foregoing, (i) no Person shall become an
"Acquiring Person" as a result of an acquisition of Common Stock
by the Company which, by reducing the number of such shares then
outstanding, increases the proportionate number of shares
beneficially owned by such Person to 20% or more of the
outstanding Common Stock, except that if such Person, after such
share purchases by the Company, becomes the Beneficial Owner of
any additional shares of Common Stock, such Person shall be
deemed to be an "Acquiring Person," and (ii) if the Board of
Directors of the Company determines in good faith that a Person
who would otherwise be an "Acquiring Person" has become such
inadvertently, and such Person divests as promptly as practicable
a sufficient number of Common Stock so that such Person would no
longer be an Acquiring Person then such Person shall not be
deemed to be an "Acquiring Person." The term "OUTSTANDING," when
used with reference to a Person's Beneficial Ownership of
securities of the Company, shall mean the number of such
securities then issued and outstanding together with the number
of such securities not then issued and outstanding which such
Person would be deemed to beneficially own hereunder."
2. OTHER PROVISIONS. The other provisions of the Rights Agreement
shall continue in full force and effect as set forth in the Rights Agreement and
are not affected in any way by this Amendment No. 2.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment No.
2 to be duly executed on the day and year first set forth above.
ARCADIA FINANCIAL LTD.
By: /s/ James D. Atkinson III
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James D. Atkinson III
Senior Vice President
NORWEST BANK MINNESOTA, N.A.,
NORWEST SHAREOWNER SERVICES
By: /s/ Greg Luedke
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Name: Greg Luedke
Title: Account Manager
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