0001104659-20-056574.txt : 20200505 0001104659-20-056574.hdr.sgml : 20200505 20200505085003 ACCESSION NUMBER: 0001104659-20-056574 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200505 DATE AS OF CHANGE: 20200505 GROUP MEMBERS: CROSS MARK LTD GROUP MEMBERS: LIU YUFENG SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: China Biologic Products Holdings, Inc. CENTRAL INDEX KEY: 0001369868 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 752308816 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-83122 FILM NUMBER: 20847079 BUSINESS ADDRESS: STREET 1: 18TH FL, JIALONG INTERNATIONALBUILDING STREET 2: 19 CHAOYANG PARK ROAD, CHAOYANG DISTRICT CITY: BEIJING STATE: F4 ZIP: 100125 BUSINESS PHONE: 86-10-6598-3111 MAIL ADDRESS: STREET 1: 18TH FL, JIALONG INTERNATIONALBUILDING STREET 2: 19 CHAOYANG PARK ROAD, CHAOYANG DISTRICT CITY: BEIJING STATE: F4 ZIP: 100125 FORMER COMPANY: FORMER CONFORMED NAME: China Biologic Products, Inc. DATE OF NAME CHANGE: 20070213 FORMER COMPANY: FORMER CONFORMED NAME: GRC Holdings, Inc. DATE OF NAME CHANGE: 20060721 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PW Medtech Group Ltd CENTRAL INDEX KEY: 0001726917 IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: BUILDING 1, NO. 23 PANLONG WEST ROAD STREET 2: PINGGU DISTRICT CITY: BEIJING STATE: F4 ZIP: 101204 BUSINESS PHONE: 86 10 8478 3617 MAIL ADDRESS: STREET 1: BUILDING 1, NO. 23 PANLONG WEST ROAD STREET 2: PINGGU DISTRICT CITY: BEIJING STATE: F4 ZIP: 101204 SC 13D/A 1 tm2018625d1_sc13da.htm SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

(Amendment No. 6)*

 

China Biologic Products Holdings, Inc.

(Name of Issuer)

 

Ordinary Shares, Par Value $0.0001

(Title of Class of Securities)

 

G21515104

(CUSIP Number)

 

George Chen

PW Medtech Group Limited

Building 1, No. 23 Panlong West Road

Pinggu District, Beijing

People’s Republic of China

+86 10 8478 3617

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

May 5, 2020

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box. ¨

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

   

 

SCHEDULE 13D

CUSIP No. G21515104    
             
1.  

Names of Reporting Persons.

PW Medtech Group Limited

2.  

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) x (b) ¨

3.   SEC Use Only
4.  

Source of Funds (See Instructions)

BK

5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

¨

6.  

Citizenship or Place of Organization

Cayman Islands

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7.  

Sole Voting Power

0

  8.  

Shared Voting Power

6,321,000 ordinary shares(1)

  9.  

Sole Dispositive Power

0

  10.  

Shared Dispositive Power

6,321,000 ordinary shares(1)

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

6,321,000 ordinary shares(1)

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

¨

13.  

Percent of Class Represented by Amount in Row (11)

16.43%(2)

14.  

Type of Reporting Person (See Instructions)

CO

               
  (1) 1,000,000 Ordinary Shares will be sold to Beachhead Holdings Limited pursuant to a share purchase agreement dated September 18, 2019 (as amended from time to time). Please refer to Item 4 for a brief description of such share purchase agreement.
  (2) Percentage calculated based on 38,480,580 Ordinary Shares issued and outstanding as of March 9, 2020 as provided in the Issuer’s Form 20-F filed on March 12, 2020.
                                 
 2 

 

 

CUSIP No. G21515104    
             
1.  

Names of Reporting Persons.

Cross Mark Limited

2.  

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) x (b) ¨

3.   SEC Use Only
4.  

Source of Funds (See Instructions)

OO

5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

¨

6.  

Citizenship or Place of Organization

British Virgin Islands

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7.  

Sole Voting Power

0

  8.  

Shared Voting Power

2,316,647 ordinary shares

  9.  

Sole Dispositive Power

0

  10.  

Shared Dispositive Power

2,316,647 ordinary shares

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

2,316,647 ordinary shares

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

¨

13.  

Percent of Class Represented by Amount in Row (11)

6.02%(1)

14.  

Type of Reporting Person (See Instructions)

CO

                                 
  (1)

Percentage calculated based on 38,480,580 Ordinary Shares issued and outstanding as of March 9, 2020 as provided in the Issuer’s Form 20-F filed on March 12, 2020.

                                 

 

 3 

 

 

CUSIP No. G21515104    
             
1.  

Names of Reporting Persons.

Liu Yufeng

2.  

Check the Appropriate Box if a Member of a Group (See Instructions).

(a) x (b) ¨

3.   SEC Use Only
4.  

Source of Funds (See Instructions)

OO

5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

¨

6.  

Citizenship or Place of Organization

New Zealand

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

  7.  

Sole Voting Power

0

  8.  

Shared Voting Power

2,316,647 ordinary shares

  9.  

Sole Dispositive Power

0

  10.  

Shared Dispositive Power

2,316,647 ordinary shares

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

2,316,647 ordinary shares

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

¨

13.  

Percent of Class Represented by Amount in Row (11)

6.02%(1)

14.  

Type of Reporting Person (See Instructions)

IN

                                 
  (1)

Percentage calculated based on 38,480,580 Ordinary Shares issued and outstanding as of March 9, 2020 as provided in the Issuer’s Form 20-F filed on March 12, 2020.

 

 4 

 

 

Introduction

 

This Amendment No. 6 to Schedule 13D (this “Amendment No.6”) amends and supplements the statement on Schedule 13D filed with the U.S. Securities and Exchange Commission (the “Commission”) on January 10, 2018, as amended and supplemented by the Amendment No. 1 filed under Schedule 13D/A on August 27, 2018, the Amendment No. 2 filed under Schedule 13D/A on September 24, 2018, the Amendment No. 3 filed under Schedule 13D/A on September 19, 2019, the Amendment No. 4 filed under Schedule 13D/A on January 24, 2020 and the Amendment No. 5 filed under Schedule 13D/A on March 20, 2020 (the “Original Schedule 13D”), by each of PW Medtech Group Limited (“PWM”), Cross Mark Limited (“Cross Mark”), and Ms. Liu Yufeng (together with PWM and Cross Mark, the “Reporting Persons”) relating to the ordinary shares, par value $0.0001 per share (the “Ordinary Shares”) of China Biologic Products Holdings, Inc., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Issuer”).

 

Except as provided herein, this Amendment No.6 does not modify any of the information previously reported on the Original Schedule 13D. Capitalized terms used but not defined in this Amendment No.6 have the means ascribed to them in the Original Schedule 13D.

 

Item 4. Purpose of Transaction.

 

Item 4 of the Original Schedule 13D is hereby supplemented by inserting the following after the last paragraph thereof:

 

On May 4, 2020, in order to enable discussions and negotiations among members of the Buyer Consortium and the management members of the Issuer or its subsidiaries regarding the potential treatment of the equity securities of the Issuer beneficially owned by such management members in connection with the Transaction, the board of directors of the Issuer (the “Board”) has granted to members of the Buyer Consortium and other applicable parties a waiver from complying with certain restrictions as agreed under (i) those certain investor rights agreements entered into by and between the Issuer and each of PWM, Beachhead, CITIC Capital MB Investment Limited (an affiliate of CITIC Capital) and HH China Bio Holdings LLC (an affiliate of Hillhouse), respectively, and (ii) those certain confidentiality agreements, dated as of October 20, 2019, entered into by and between the Issuer and each of PWM, Beachhead, CITIC Capital, Hillhouse and Temasek, respectively. The Board has also determined, among other things, that parties to such waiver letter, such management members of the Issuer and their respective affiliates will not be deemed to be an “Acquiring Person” under the Issuer’s currently effective preferred shares rights agreement, nor shall any provision under such preferred shares rights agreement be otherwise triggered. The waiver will expire on May 18, 2020.

 

On May 5, 2020, PWM and Beachhead entered into an Amendment No. 2 to Share Purchase Agreement (the “SPA Amendment No. 2”), pursuant to which PWM and Beachhead agreed to, among others, waive the closing condition under the PWM SPA that a definitive agreement for the Transaction shall have been entered into.

 

On May 5, 2020, (i) Beachhead, Point Forward Holdings Limited (an affiliate of Beachhead, “Point Forward”) and PWM entered into an assignment agreement (the “Point Forward Assignment Agreement”), pursuant to which Beachhead assigned its rights and obligations with respect to the purchase of 385,000 Ordinary Shares under the PWM SPA to Point Forward; and (ii) Beachhead, Double Double Holdings Limited (an affiliate of Beachhead, “Double Double”) and PWM entered into an assignment agreement (the “Double Double Assignment Agreement,” and together with the Point Forward Assignment Agreement, the “Assignment Agreements” collectively), pursuant to which Beachhead assigned its rights and obligations with respect to the purchase of 615,000 Ordinary Shares under the PWM SPA to Double Double.

 

References to the SPA Amendment No. 2 in this Amendment No. 6 are qualified in their entirety by reference to the SPA Amendment No. 2, a copy of which is attached hereto as Exhibit 12 incorporated herein by reference in its entirety.

 

 5 

 

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of Issuer.

 

Item 6 of the Original Schedule 13D is hereby amended and supplemented by inserting the following paragraph before the last paragraph thereof:

 

The descriptions of the principal terms of the SPA Amendment No. 2 and Assignment Agreements under Item 4 are incorporated herein by reference in their entirety.

 

Item 7. Materials to be Filed as Exhibits.

 

Item 7 of the Original Schedule 13D is hereby amended and supplemented by adding the following at the end thereof:

 

Exhibit 12*   Amendment No. 2 to Share Purchase Agreement dated May 5, 2020 by and between PWM and Beachhead.

 

*Filed herewith

 

 6 

 

 

SIGNATURES

 

After reasonable 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.

 

Date: May 5, 2020

 

  PW MEDTECH GROUP LIMITED
     
  By: /s/ Yue’e Zhang
    Name: Yue’e Zhang
    Title: Executive Director and Chief Executive Officer
   
  CROSS MARK LIMITED
     
  By /s/ Liu Yufeng
    Name: Liu Yufeng
    Title: Director
   
  LIU YUFENG
     
  By /s/ Liu Yufeng

 

 7 

 

EX-12 2 tm2018625d1_ex12.htm EXHIBIT 12

Exhibit 12

 

AMENDMENT NO. 2 TO SHARE PURCHASE AGREEMENT

 

THIS AMENDMENT NO. 2 TO SHARE PURCHASE AGREEMENT (this “Amendment”), dated as of May 5, 2020, is entered into by and between PW Medtech Group Limited, a Cayman Islands company (the “Seller”) and Beachhead Holdings Limited, a Cayman Islands company (the “Purchaser”).

 

WHEREAS, the parties hereto entered into a share purchase agreement dated as of September 18, 2019 (as amended by the Amendment No. 1 to Share Purchase Agreement dated as of March 17, 2020, the “SPA”), pursuant to and subject to the terms and conditions of which, the Seller has agreed to sell to the Purchaser, and the Purchaser has agreed to purchase from the Seller the Sale Shares;

 

WHEREAS, Section 6.4 of the SPA provides that the SPA may be amended by written instrument making specific reference to the SPA signed by the party of the SPA against whom enforcement of such amendment is sought; and

 

WHEREAS, the parties hereto desire to amend the SPA pursuant to the terms as set forth herein.

 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.                   Definitions. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the SPA.

 

2.                   Amendments to SPA. Section 1.2(b) of the SPA is hereby amended and restated in its entirety to read as follows:

 

“(b)        At the Closing:

 

(i)the Seller shall deliver, or cause its broker to deliver, to the Purchaser:

 

(A)the Sale Shares on a settlement by delivery against payment basis; and

 

(B)a copy of the director resolutions of the Seller duly authorizing and approving this Agreement and the transactions contemplated hereby; and

 

(ii)the Purchaser shall deliver, or cause its broker to deliver, to the Seller:

 

(A)immediately available funds by wire transfer into an account designated by the Seller in the amount of the Purchase Price on a settlement by payment against delivery basis; and

 

(B)a copy of the director resolutions of the Purchaser duly authorizing and approving this Agreement and the transactions contemplated hereunder.”

 

3.                   No Further Amendment. The parties hereto agree that all other provisions of the SPA shall, subject to Section 2 of this Amendment, continue unmodified, in full force and effect and constitute legal and binding obligations of the parties hereto in accordance with their terms. This Amendment forms an integral and inseparable part of the SPA.

 

 1 

 

 

4.                   Additional Seller’s Representations and Warranties. The Seller hereby makes a representation and warranty to the Purchaser as of the date of this Amendment and the Closing Date that the shareholders of the Seller have duly approved the transactions contemplated by the SPA at an Extraordinary General Meeting of the Seller in accordance with requirements of the Hong Kong Listing Rules and the Organizational Documents of the Seller.

 

5.                   Waiver of Conditions.

 

(a)           The Seller hereby irrevocably and unconditionally waives Section 4.1(c) of the SPA as a condition to its obligations to consummate the Closing, and Section 4.1(c) of the SPA shall, from the date hereof, no longer be a condition to the Seller’s obligations to consummate the Closing.

 

(b)          The Purchaser hereby irrevocably and unconditionally waives Section 4.2(c) of the SPA as a condition to its obligations to consummate the Closing, and Section 4.2(c) of the SPA shall, from the date hereof, no longer be a condition to the Purchaser’s obligations to consummate the Closing.

 

6.                   References. All references to the SPA (including “hereof,” “herein,” “hereunder,” “hereby” and “this Agreement”) in the SPA shall refer to the SPA as amended by this Amendment. Notwithstanding the foregoing, references to the date of the SPA (as amended hereby) and references in the SPA to “the date hereof,” “the date of this Agreement” and terms of similar import shall in all instances continue to refer to September 18, 2019.

 

7.                   Other Miscellaneous Terms. The provisions of Sections 6.4 (Complete Agreement; Amendments; Waivers), 6.5 (Expenses), 6.6 (Severability), 6.7 (Binding Effect; Assignment), 6.8 (Governing Law), 6.9 (Dispute Resolution), 6.10 (Notices), 6.11 (Survival), 6.12 (Section and Other Headings), and 6.13 (Counterparts) of the SPA shall apply mutatis mutandis to this Amendment, and to the SPA as modified by this Amendment, taken together as a single agreement, reflecting the terms therein as modified by this Amendment.

 

[SIGNATURE PAGES FOLLOW]

 

 

 

 

IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment as of the day and year first above written.

 

 

  PW Medtech Group Limited (普华和顺集团公司)
      
      
  By:  /s/  Yue’e Zhang
  Name:  Yue’e Zhang
  Title:  Executive Director

 

 

[Signature Page to Amendment No. 2 to Share Purchase Agreement]

 

 

 

IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment as of the day and year first above written.

 

 

  Beachhead Holdings Limited
      
      
  By:  /s/ Hui Li 
  Name:  Hui Li
  Title:  Director

 

 

[Signature Page to Amendment No. 2 to Share Purchase Agreement]