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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-A/A*
FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR (g) OF THE
SECURITIES EXCHANGE ACT OF 1934
ANADIGICS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 22-2582106
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(State of incorporation or organization) (I.R.S. Employer Identification No.)
35 Technology Drive
Warren, New Jersey 07059
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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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None None
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 statement file number to which this form
relates:
N/A (if applicable)
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Securities to be registered pursuant to Section 12(g) of the Act:
Preferred Stock Purchase Rights
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(Title of class)
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* This Form 8-A/A amends and restates in its entirety the Registration Statement
on Form 8-A, filed with the Securities and Exchange Commission on December 23,
1998.
Item 1. DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED.
On December 17, 1998, the Board of Directors of ANADIGICS, Inc. (the
"Company") declared a dividend distribution of one Right for each outstanding
share of common stock, par value $0.01 per share (the "Common Stock"), of the
Company. The distribution is payable to holders of record on December 31, 1998
(the "Record Date"). The Right will also attach to each share of Common Stock
issued after the Record Date but before the Expiration Date (as defined below).
Each Right entitles the registered holder to purchase from the Company one
one-thousandth of a share of Series A Junior Participating Preferred Stock (the
"Preferred Stock"), at a price of $75.00 per one one-thousandth of a share (the
"Purchase Price"), subject to adjustment. The description and terms of the
Rights are set forth in a Rights Agreement (the "Rights Agreement") between the
Company and ChaseMellon Shareholder Services, L.L.C., as Rights Agent (the
"Rights Agent").
Distribution Date; Transfer of Rights
Until the earlier to occur of (i) ten calendar days following the date
(the "Shares Acquisition Date") of public announcement that a person or group of
affiliated or associated persons (an "Acquiring Person") acquired, or obtained
the right to acquire, beneficial ownership of Common Stock or other voting
securities ("Voting Stock") that have 15% or more of the voting power of the
outstanding shares of Voting Stock or (ii) ten calendar days (or such later date
as may be determined by action of the Board of Directors prior to the time any
person or group of affiliated persons becomes an Acquiring Person) following the
commencement or announcement of an intention to make a tender offer or exchange
offer, the consummation of which would result in such person or group acquiring,
or obtaining the right to acquire, beneficial ownership of Voting Stock having
15% or more of the voting power of the outstanding shares of Voting Stock (the
earlier of such dates being called the "Distribution Date"), the Rights will be
evidenced, with respect to any of the Company's Common Stock certificates
outstanding as of the Record Date or issued after the Record Date but before
the Expiration Date, by such Common Stock certificates. The Rights
Agreement provides that, until the Distribution Date, the Rights will be
transferred with and only with the Company's Common Stock. Until the
Distribution Date (or earlier redemption or expiration of the Rights), new
Common Stock certificates issued after the Record Date will contain a notation
incorporating the Rights Agreement by reference and the surrender for transfer
of any of the Company's Common Stock certificates outstanding as of the Record
Date or issued after the Record Date but before the Expiration Date will also
constitute the transfer of the Rights associated with the Common Stock
represented by such certificate. As soon as practicable following the
Distribution Date, separate certificates evidencing the Rights ("Right
Certificates") will be mailed to holders of record of the Company's Common Stock
as of the close of business on the Distribution Date and such separate Right
Certificates alone will evidence the Rights.
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The Rights are not exercisable until the Distribution Date. The Rights
will expire at the close of business on December 17, 2008, unless earlier
redeemed or exchanged by the Company as described below (such earliest date
being referred to as the "Expiration Date").
Exercise of Rights for Common Stock of the Company
In the event that a Person becomes an Acquiring Person, each holder of
a Right will thereafter have the right to receive, upon exercise, Common Stock
(or, in certain circumstances, cash, property or other securities of the
Company) having a value equal to two times the Purchase Price of the Right.
Notwithstanding any of the foregoing, following the occurrence of the event set
forth in this paragraph, all Rights that are, or (under certain circumstances
specified in the Rights Agreement) were, beneficially owned by any Acquiring
Person will be null and void.
Exercise of Rights for Shares of the Acquiring Company
In the event that, at any time following the Shares Acquisition Date,
(i) the Company is acquired in a merger or other business combination
transaction, or (ii) 50% or more of the Company's assets or earning power is
sold or transferred, each holder of a Right (except Rights which previously have
been voided as set forth above) shall thereafter have the right to receive, upon
exercise, common stock of the acquiring company having a value equal to two
times the Purchase Price of the Right.
Adjustments to Purchase Price
The Purchase Price payable, and the number of shares of Preferred Stock
(or Common Stock or other securities, as the case may be) issuable, upon
exercise of the Rights are subject to adjustment from 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 or warrants to subscribe for shares of the
Preferred Stock or convertible securities 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
periodic cash dividends out of earnings or retained earnings or dividends
payable in the 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 the earlier of (i) three years from the date of the event giving
rise to such adjustment and (ii) the time at which cumulative adjustments
require an adjustment of at least 1% in such Purchase Price. No fractional
shares will be issued (other than fractional shares which are integral multiples
of one one-thousandth of a share of Preferred Stock) and, in lieu thereof, an
adjustment in cash will be made based on the market price of the Preferred Stock
on the last trading date prior to the date of exercise.
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Exchange and Redemption of Rights
At any time after the occurrence of the event set forth under the
heading "Exercise of Rights for Common Stock of the Company" above, the Board of
Directors may exchange the Rights (other than Rights owned by the Acquiring
Persons which shall have become void), in whole or in part, at an exchange ratio
of one share of Common Stock (or a fraction of a share of Preferred Stock having
the same market value) per Right (subject to adjustment).
At any time prior to 5:00 P.M. New York City time on the tenth calendar
day following the Shares Acquisition Date, the Company may redeem the Rights in
whole, but not in part, at a price of $.001 per Right (the "Redemption Price").
Promptly upon the action of the Board of Directors of the Company electing to
redeem the Rights, the Company shall make announcement thereof, and upon such
action, the right to exercise the Rights will terminate and the only right of
the holders of Rights will be to receive the Redemption Price.
Until a Right is exercised or exchanged, the holder thereof, as such,
will have no rights as a stockholder of the Company, including, without
limitation, the right to vote or to receive dividends.
Terms of the Preferred Stock
The Preferred Stock will rank junior to all other series of the
Company's preferred stock with respect to payment of dividends and as to
distributions of assets in liquidation. Each share of Preferred Stock will have
a quarterly dividend rate per share equal to the greater of $1.00 or 1000 times
the per share amount of any dividend (other than a dividend payable in shares of
Common Stock or a subdivision of the Common Stock) declared from time to time on
the Common Stock, subject to certain adjustments. The Preferred Stock will not
be redeemable. In the event of liquidation, the holders of the Preferred Stock
will be entitled to receive a preferred liquidation payment per share of $1.00
(plus accrued and unpaid dividends) or, if greater, an amount equal to 1000
times the payment to be made per share of Common Stock, subject to certain
adjustments. Generally, each share of Preferred Stock will vote together with
the Common Stock and any other series of cumulative preferred stock entitled to
vote in such manner and will be entitled to 1000 votes, subject to certain
adjustments. In the event of any merger, consolidation, combination or other
transaction in which shares of Common Stock are exchanged for or changed into
other stock or securities, cash and/or other property, each share of Preferred
Stock will be entitled to receive 1000 times the aggregate amount of stock,
securities, cash and/or other property, into which or for which each share of
Common Stock is changed or exchanged, subject to certain adjustments. The
foregoing dividend, voting and liquidation rights of the Preferred Stock are
protected against dilution in the event that additional shares of Common Stock
are issued pursuant to a stock split or stock dividend or distribution. Because
of the nature of
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the Preferred Stock's dividend, voting, liquidation and other rights, the value
of the one one-thousandth of a share of Preferred Stock purchasable with each
Right is intended to approximate the value of one share of Common Stock.
Amendments to Terms of the Rights
Any of the provisions of the Rights Agreement may be amended by the
Board of Directors of the Company prior to the earlier of the Distribution Date
or Shares Acquisition Date. After the earlier of the Distribution Date or Shares
Acquisition Date, the provisions of the Rights Agreement may be amended by the
Board in order to cure any ambiguity, defect or inconsistency, or to make
changes which do not adversely affect the interests of holders of Rights
(excluding the interests of any Acquiring Person); PROVIDED, HOWEVER, that no
supplement or amendment may be made after the earlier of the Distribution Date
or Shares Acquisition Date which changes those provisions relating to the
principal economic terms of the Rights.
A copy of the Rights Agreement is filed herewith as Exhibit 1. The
foregoing description of the Rights does not purport to be complete and is
qualified in its entirety by reference to such Exhibit, which is hereby
incorporated herein by reference.
Item 2. Exhibits
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99.1 Rights Agreement, dated as of December 17, 1998,
between ANADIGICS, Inc. and ChaseMellon Shareholder
Services, L.L.C., as Rights Agent (filed as Exhibit
99.1 to the Company's Form 8-A filed on December 23,
1998 and incorporated herein by reference).
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SIGNATURE
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, thereunto duly authorized.
ANADIGICS, INC.
Date: September 9, 1999 By: /s/ DR. BAMI BASTANI
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Name: Dr. Bami Bastani
Title: Chief Executive Officer
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EXHIBIT INDEX
Number Description
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99.1 Rights Agreement, dated as of December 17, 1998, between
ANADIGICS, Inc. and ChaseMellon Shareholder Services,
L.L.C., as Rights Agent (filed as Exhibit 99.1 to the
Company's Form 8-A filed on December 23, 1998 and
incorporated herein by reference).
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