SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
UNDER SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
(Name of Subject Company)
(Name of Person(s) Filing Statement)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
(CUSIP Number of Class of Securities)
Chief Executive Officer
951 Yamato Road, Suite 220
Boca Raton, FL 33431
Telephone: (561) 961-1900
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of the Person(s) Filing Statement)
With copies to:
951 Yamato Road, Suite 220
Boca Raton, FL 33431
Telephone: (561) 961-1900
Joshua M. Samek, Esq.
J.A. Glaccum, Esq.
DLA Piper LLP (US)
200 South Biscayne Boulevard, Suite 2500
Miami, Florida 33131
Telephone: (305) 423-8500
Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
This Amendment No. 3 (this Amendment) to Schedule 14D-9 amends and supplements the Solicitation / Recommendation Statement on Schedule 14D-9 previously filed by TherapeuticsMD, Inc., a Nevada corporation (the Company, TherapeuticsMD, we, our or us), with the Securities and Exchange Commission on June 13, 2022 (as amended on June 29, 2022 and July 6, 2022, the Schedule 14D-9), relating to the cash tender offer by Athene Merger Sub, Inc. (Merger Sub), a Nevada corporation and wholly-owned subsidiary of Athene Parent, Inc., a Nevada Corporation (Parent), to purchase all of the issued and outstanding shares of the Companys common stock, par value $0.001 per share (the Shares), at a purchase price of $10.00 per Share, net to the seller in cash, without interest, and subject to withholding taxes, upon the terms and subject to the conditions set forth in the Agreement and Plan of Merger, dated as of May 27, 2022, by and among the Company, Parent and Merger Sub, the Offer to Purchase, dated as of June 6, 2022 and the related Letter of Transmittal, each of which may be amended or supplemented from time to time.
Except as otherwise set forth in this Amendment, the information set forth in the Schedule 14D-9 remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule 14D-9.
Item 8. Additional Information.
Item 8 of the Schedule 14D-9 is hereby amended and supplemented by adding the following paragraphs as a new subsection following the heading entitled Item 8. Additional Information Extension of the Offer on page 46:
Expiration of the Offer
The Offer and withdrawal rights expired as scheduled at one minute after 11:59 p.m., New York City time, on July 12, 2022 and was not extended. The Depositary and Paying Agent of Parent has indicated that, as of the Expiration Date, approximately 2,705,915 Shares have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 30.6% of the outstanding Shares. As a result, the Minimum Condition was not satisfied and no Shares were accepted for payment or paid for pursuant to the Offer.
The press release of the Company announcing the expiration and results of the Offer is attached as Exhibit (a)(5)(E) to this Schedule 14D-9 and is incorporated herein by reference.
Item 9. Exhibits.
Item 9 of the Schedule 14D-9 is hereby amended by inserting the following Exhibit below (a)(5)(D) as Exhibit (a)(5)(E).
|Press Release issued by the Company, dated July 13, 2022.|
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.
Dated: July 13, 2022
|Marlan D. Walker|
|Title: General Counsel and Secretary|
FOR IMMEDIATE RELEASE
TherapeuticsMD Announces Expiration of Tender Offer
Company anticipates termination of Merger Agreement with EW Healthcare Partners
BOCA RATON, Fla. July 13, 2022 TherapeuticsMD, Inc. (NASDAQ: TXMD), (TXMD or the Company) an innovative, leading womens healthcare company, announced today that Athene Merger, Inc., an affiliate of EW Healthcare Partners (EW), did not acquire the required majority of shares of TXMD through the previously announced tender offer by the extended offer deadline of one minute after 11:59 PM Eastern Time on July 12, 2022. As a result, the tender offer has expired according to its terms. The Company anticipates that the Merger Agreement between TXMD and EW will be terminated pursuant to its terms following 11:59 PM Eastern Time on July 13, 2022.
TherapeuticsMD intends to maintain normal operations at this time.
Greenhill & Co., LLC is serving as financial advisor and DLA Piper LLP (US) and Jones Day are serving as legal counsel to TherapeuticsMD.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. TherapeuticsMDs products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. TherapeuticsMD is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit https://www.therapeuticsmd.com/ or follow us on Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
Cautionary Notes Regarding Forward Looking Statements
Certain statements in this communication, including, without limitation, statements regarding the proposed transaction, plans and objectives, and managements beliefs, expectations or opinions, may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and often address expected future actions and expected future business and financial performance. Forward-looking statements may be identified by the use of words such as believe, will, should, estimate, anticipate, potential, expect, intend, plan, may, subject to, continues, if and similar words and phrases. These forward-looking statements are not guarantees of future events and involve risks, uncertainties and assumptions that are difficult to predict.
Actual results, developments and business decisions may differ materially from those expressed or implied in any forward-looking statements as a result of numerous factors, risks and uncertainties over which the Company has no control. These factors, risks and uncertainties include, but are not limited to, the following: whether the Company will be able to repay the indebtedness under the Companys Financing Agreement, which is scheduled to mature on July 13, 2022, and, if not, whether the Company will be able to continue as a going concern; risks that the failure of the proposed transaction disrupts current plans and operations and potential difficulties in employee retention as a result of the failure of the proposed transaction; risks related to diverting managements attention from ongoing business operations; the outcome of any legal proceedings that may be instituted related to the proposed transaction or the transaction agreement between the parties to the proposed transaction; the
amount of the costs, fees, expenses and other charges related to the proposed transaction; general economic conditions, particularly those in the life science and medical device industries; stock trading prices, including the impact of the failure of the proposed transaction on the Companys stock price, particularly in relation to the Companys current and future capital needs and its ability to raise additional funds to finance its future operations; and other factors discussed from time to time in the reports of the Company filed with the Securities and Exchange Commission (the SEC), including the risks and uncertainties contained in the sections titled Risk Factors and Cautionary Note Regarding Forward-Looking Statements in the Companys most recent Annual Report on Form 10-K, as filed with the SEC on March 23, 2022, and related sections in the Companys subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all of which are available free of charge at http://www.sec.gov or under the Investors & Media section on the Companys website at www.therapeuticsmd.com.
Forward-looking statements reflect the views and assumptions of management as of the date of this communication with respect to future events. The Company does not undertake, and hereby disclaims, any obligation, unless required to do so by applicable laws, to update any forward-looking statements as a result of new information, future events or other factors. The inclusion of any statement in this communication does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.
Lisa M. Wilson
In-Site Communications, Inc.