0001209191-20-050210.txt : 20200911
0001209191-20-050210.hdr.sgml : 20200911
20200911184237
ACCESSION NUMBER: 0001209191-20-050210
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200909
FILED AS OF DATE: 20200911
DATE AS OF CHANGE: 20200911
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: CD&R Investment Associates IX, Ltd.
CENTRAL INDEX KEY: 0001624514
STATE OF INCORPORATION: E9
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38794
FILM NUMBER: 201171933
BUSINESS ADDRESS:
STREET 1: MAPLES CORPORATE SERVICES LIMITED
STREET 2: UGLAND HOUSE
CITY: GRAND CAYMAN
STATE: E9
ZIP: KY101194
BUSINESS PHONE: 345-949-8066
MAIL ADDRESS:
STREET 1: MAPLES CORPORATE SERVICES LIMITED
STREET 2: UGLAND HOUSE
CITY: GRAND CAYMAN
STATE: E9
ZIP: KY101194
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: CD&R VFC Holdings L.P.
CENTRAL INDEX KEY: 0001766983
STATE OF INCORPORATION: E9
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38794
FILM NUMBER: 201171934
BUSINESS ADDRESS:
STREET 1: UGLAND HOUSE
STREET 2: SOUTH CHURCH STREET
CITY: GRAND CAYMAN
STATE: E9
ZIP: KY1-1104
BUSINESS PHONE: 212-407-5200
MAIL ADDRESS:
STREET 1: C/O CLAYTON, DUBILIER & RICE, LLC
STREET 2: 375 PARK AVE, 18TH FL
CITY: NEW YORK
STATE: NY
ZIP: 10152
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: COVETRUS, INC.
CENTRAL INDEX KEY: 0001752836
STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912]
IRS NUMBER: 831448706
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7 CUSTOM HOUSE STREET
CITY: PORTLAND
STATE: ME
ZIP: 04101
BUSINESS PHONE: 888-280-2221
MAIL ADDRESS:
STREET 1: 7 CUSTOM HOUSE STREET
CITY: PORTLAND
STATE: ME
ZIP: 04101
FORMER COMPANY:
FORMER CONFORMED NAME: HS Spinco, Inc.
DATE OF NAME CHANGE: 20180912
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2020-09-09
0
0001752836
COVETRUS, INC.
CVET
0001624514
CD&R Investment Associates IX, Ltd.
C/O M+C CORPORATE SERVICES LIMITED
P.O. BOX 309 UGLAND HSE, SOUTH CHURCH ST
GEORGE TOWN
E9
KY1-1104
CAYMAN ISLANDS
0
0
1
0
0001766983
CD&R VFC Holdings L.P.
C/O M+C CORPORATE SERVICES LIMITED
P.O. BOX 309 UGLAND HSE, SOUTH CHURCH ST
GEORGE TOWN
E9
KY1-1104
CAYMAN ISLANDS
0
0
1
0
Common Stock
2020-09-09
4
C
0
14357478
0.00
D
25423956
I
By affiliate
Series A Preferred Stock
11.10
2020-09-09
4
C
0
159368
D
Common Stock
14357478
90632
I
By affiliate
On September 9, 2020, 159,368 shares of 7.5% Series A Preferred Stock (the "Preferred Stock") of Covetrus, Inc. (the "Issuer") were converted into 14,357,477 shares of common stock of the Issuer (the "Common Stock") at the option of the Issuer, pursuant to the terms of the certificate of designations, preferences and right governing the Preferred Stock.
These securities are owned directly by CD&R VFC Holdings, L.P. ("CD&R Stockholder"). CD&R Investment Associates IX, Ltd., as the general partner of CD&R Stockholder, may be deemed to beneficially own the shares of Common Stock and Preferred Stock held by CD&R Stockholder. CD&R Investment Associates IX, Ltd. expressly disclaims beneficial ownership of the shares of Common Stock and Preferred Stock held by CD&R Stockholder, except to the extent of its pecuniary interest therein.
CD&R Stockholder directly owns 90,632 shares of Preferred Stock of the Issuer, which are convertible into shares of Common Stock at a price per share of $11.10, which is subject to anti-dilution adjustments, including in the event of any stock split, stock dividend, recapitalization of similar event.
The Series A Preferred Stock is convertible at any time at the option of the holder and has no expiration date. Unless certain stockholder approval is obtained, no holder may convert any share of Series A Preferred Stock if the conversion of such share would result in such holder beneficially owning more than 19.99% of the then-outstanding stockholder voting power of the Issuer.
The Issuer may, at its option, require conversion of all (but not less than all) of the outstanding shares of Series A Preferred Stock to shares of the Common Stock if (i) at any time, the Issuer satisfies certain financial metrics or (ii) the volume weighted average price of the Common Stock on any trading day (a) until (but not including) the date that is two years from the issuance date, exceeds 200%, (b) from the date that is two years from the issuance date until (but not including) the date that is two years and six months from the issuance date, exceeds 195%, (c) from the date that is two years and six months from the issuance date until (but not including) the date that is three years from the issuance date, exceeds 190%, (d) from the date that is three years from the issuance date until (but not including) the date that is three years and six months from the issuance date, exceeds 185%, (continued next footnote)
(e) from the date that is three years and six months from the issuance date until (but not including) the date that is four years from the issuance date, exceeds 180%, and (f) at any time thereafter, exceeds 175%, in each case, of the then-effective conversion price for at least 20 out of the 30 trailing trading days. The Series A Preferred Stock accrues dividends at a rate of 7.50% per annum, payable in cash or in additional shares of Series A Preferred Stock.
Holders of Series A Preferred Stock are also entitled to receive certain dividends declared or paid on the Common Stock on an as-converted basis.
CD&R Investment Associates IX, Ltd., By: Theresa A. Gore, CFO, Treas. and Sec.
2020-09-11
CD&R VFC Holdings, L.P., By: CD&R Investment Associates IX, Ltd, general partner; By: /s/ Theresa A. Gore, CFO, Treas. and Sec.
2020-09-11