-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EMxjZq/T9AA6dBS2el2Q79uiwoASRE5/fxEH10qqASrQzaxDMZRSNIEsVioRx592 y0kYsUBEgV4VoJcnCziZNg== 0000899140-03-000537.txt : 20030724 0000899140-03-000537.hdr.sgml : 20030724 20030703111416 ACCESSION NUMBER: 0000899140-03-000537 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030627 FILED AS OF DATE: 20030703 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: WELLMAN INC CENTRAL INDEX KEY: 0000812708 STANDARD INDUSTRIAL CLASSIFICATION: PLASTIC MAIL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820] IRS NUMBER: 041671740 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 595 SHREWSBURY AVENUE CITY: SHREWSBURY STATE: NJ ZIP: 07702 BUSINESS PHONE: (732)212-3300 MAIL ADDRESS: STREET 1: P.O. BOX 31331 CITY: CHARLOTTE STATE: NC ZIP: 28231 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WARBURG PINCUS PRIVATE EQUITY VIII L P CENTRAL INDEX KEY: 0001157334 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10033 FILM NUMBER: 03774113 BUSINESS ADDRESS: STREET 1: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128780600 MAIL ADDRESS: STREET 1: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WARBURG PINCUS LLC CENTRAL INDEX KEY: 0001162870 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10033 FILM NUMBER: 03774111 BUSINESS ADDRESS: STREET 1: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128780600 MAIL ADDRESS: STREET 1: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: WARBURG PINCUS & CO CENTRAL INDEX KEY: 0000929408 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10033 FILM NUMBER: 03774112 BUSINESS ADDRESS: STREET 1: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 100173147 BUSINESS PHONE: 2128780600 MAIL ADDRESS: STREET 1: 466 LEXINGTON AVENUE STREET 2: NEW YORK CITY: NY STATE: NY ZIP: 100173147 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BARR DAVID CENTRAL INDEX KEY: 0001239309 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10033 FILM NUMBER: 03774110 BUSINESS ADDRESS: STREET 1: C/O WARBURG PINCUS LLC STREET 2: 466 LEXINGTON AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128780600 MAIL ADDRESS: STREET 1: C/O WARBURG PINCUS LLC STREET 2: 466 LEXINGTON AVE CITY: NEW YORK STATE: NY ZIP: 10017 3 1 wppe8_wellman3-070303ex.xml X0101 3 2003-06-27 0 0000812708 WELLMAN INC WLM 0001157334 WARBURG PINCUS PRIVATE EQUITY VIII L P 0 0 1 0 0000929408 WARBURG PINCUS & CO 0 0 1 0 0001162870 WARBURG PINCUS LLC 0 0 1 0 0001239309 BARR DAVID 1 0 0 0 Series A Convertible Preferred Stock 11.25 1988-08-08 1988-08-08 Common Stock 4502143 I See (1) on Exhibit 99 Series B Convertible Preferred Stock 11.25 1988-08-08 1988-08-08 Common Stock 6700000 I See (1) on Exhibit 99 Common Stock Purchase Warrant 11.25 2003-02-12 2010-02-12 Common Stock 1250000 I See (1) on Exhibit 99 Common Stock Purchase Warrant 11.25 2003-06-27 2010-06-27 Common Stock 1250000 I See (1) on Exhibit 99 See Exhibit 99 See Exhibit 99 See Exhibit 99 Timothy J. Curt 2003-07-03 EX-99 3 w070303.txt EXHIBIT 99 ---------- (1) All of the securities disclosed on this Form 3 are owned by Warburg Pincus Private Equity VIII, L.P., a Delaware limited partnership ("WP VIII"), including three related limited partnerships. The sole general partner of WP VIII is Warburg Pincus & Co., a New York general partnership ("WP"). Warburg Pincus LLC, a New York limited liability company ("WP LLC") manages WP VIII. The members of WP LLC are substantially the same as the partners of WP. By reason of the provisions of Rule 16a-1 of the Securities Exchange Act of 1934, WP and WP LLC may be deemed to be the beneficial owners of Common Stock beneficially owned by WP VIII, although both WP and WP LLC disclaim beneficial ownership of such securities except to the extent of any indirect pecuniary interest therein. (2) On February 12, 2003, WP VIII purchased a convertible subordinated promissory note in the amount of $20,000,000 (the "Note") of the Company and received a warrant (the "Initial Warrant") to purchase 1,250,000 shares of the Company's common stock, par value $.001 per share (the "Common Stock) at an exercise price of $11.25 per share (the "Initial Warrant"). On June 27, 2003 (the "Second Closing Date"), (i) WP VIII purchased 2,666,667 shares of Series A Convertible Preferred Stock of the Company ("Series A Preferred Stock") for an aggregate purchase price of $30,000,000 (or $11.25 per share), (ii) WP VIII purchased 6,700,000 shares of Series B Convertible Preferred Stock of the Company ("Series B Preferred Stock" and, together with the Series A Preferred Stock, the "Preferred Stock") for an aggregate purchase price of $75,375,000 (or $11.25 per share), (iii) WP VIII received an additional warrant to purchase 1,250,000 shares of Common Stock at an exercise price of $11.25 per share (the "Additional Warrant" and together with Initial Warrant, the "Warrants") and (iv) the Note (together with interest in the amount of $649,109.59, accrued on the principal amount thereon up to (but not including) the Second Closing Date at a rate of 8.775%) automatically converted into 1,835,476 shares of Series A Preferred Stock. Each share of Preferred Stock is convertible into shares of Common Stock at an initial conversion price of $11.25 and an initial conversion rate of 1.0, subject, in each case, to certain adjustments as set forth in the Company's Certificate of Amendment of Certificate of Incorporation (the "Certificate of Incorporation"). (3) The holders of the Preferred Stock may convert shares of Preferred Stock into Common Stock (i) at any time after a Conversion Event (as defined below), (ii) if the volume-weighted average price of the Common Stock for the 60 consecutive trading days prior to the date of conversion is at least $23.00 per share, or (iii) upon consent of the Board of Directors (excluding any director designated by WP VIII). A "Conversion Event" is the first to occur of the following: (i) the Company publicly reports that its cash earnings per share (as defined) for four calendar quarters prior to such report are or will be less than $1.50; (ii) an extraordinary charge or charges in any calendar year results in or is expected to result in cash payments of more than $50 million; (iii) the first date following the fourth anniversary of the issuance of the Preferred Stock when the highest price of the Common Stock is at least 110% of the lowest price on a trading day (not more than 20 trading days before such anniversary) selected by the holders of a majority of the Preferred Stock or, if no such date is selected, such fourth anniversary; (vi) when the Company enters into an agreement that would cause an occurrence of a Change in Control (as defined in the Certificate of Incorporation) or a notice of redemption is given; and (v) the date on which a majority of the directors then in office (excluding directors designated by WP VIII) adopts a resolution that a Conversion Event has occurred. The Company can require a conversion of the Preferred Stock at any time after the fifth anniversary of the respective issuance dates if the closing price for the Preferred Stock exceeds 125% of the then applicable conversion price for 30 consecutive trading days. WARBURG PINCUS PRIVATE EQUITY VIII, L.P. By: Warburg, Pincus & Co., General Partner By: /s/ Timothy J. Curt July 3, 2003 ----------------------------------- ------------ Name: Timothy J. Curt Date Title: Partner WARBURG, PINCUS & CO. By: /s/ Timothy J. Curt July 3, 2003 ----------------------------------- ------------ Name: Timothy J. Curt Date Title: Partner WARBURG PINCUS LLC By: /s/ Timothy J. Curt July 3, 2003 ----------------------------------- ------------ Name: Timothy J. Curt Date Title: Managing Director and Member /s/ David Barr - --------------------------------- David Barr -----END PRIVACY-ENHANCED MESSAGE-----