UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 20, 2015
PERICOM SEMICONDUCTOR CORPORATION
(Exact Name of Registrant as Specified in Charter)
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California |
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000-27026 |
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77-0254621 |
(State or Other Jurisdiction |
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(Commission |
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(IRS Employer |
of Incorporation) |
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File Number) |
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Identification No.) |
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1545 Barber Lane, Milpitas, California |
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95035 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code (408) 232-9100
N/A
(Former Name or
Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.07 Submission of Matters to a Vote of Security Holders.
At the special meeting of shareholders held on November 20, 2015, the shareholders of Pericom Semiconductor Corporation
(Pericom of the Company) voted on the proposals set forth below. The proposals are described in detail in the Companys definitive proxy statement filed with the SEC on October 30, 2015. The preliminary
voting results regarding each proposal, as determined by MacKenzie Partners, Inc., the Companys proxy solicitor, are set forth below. There were 21,891,319 shares issued and outstanding on the record date for the special meeting and entitled
to vote thereat, and 16,496,500 shares were represented in person or by proxy at the special meeting, which number constituted a quorum.
Proposal No. 1. Approval of the Agreement and Plan of Merger, dated as of September 2, 2015 (the Merger Agreement) by
and among Pericom, Diodes Incorporated, a Delaware corporation, and PSI Merger Sub, Inc., a California corporation and a wholly owned subsidiary of Diodes Incorporated, and the merger of PSI Merger Sub, Inc. with and into Pericom (the
Merger) with Pericom surviving the Merger as a direct wholly owned subsidiary of Diodes Incorporated pursuant thereto (the Merger Proposal).
This proposal was approved by the requisite vote of the Companys shareholders.
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For |
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Against |
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Abstain |
15,383,419 |
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897,864 |
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215,217 |
Proposal No. 2. Approval to adjourn the special meeting to solicit additional votes to approve the Merger
Proposal, if necessary or appropriate.
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For |
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Against |
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Abstain |
14,997,810 |
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1,281,101 |
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217,589 |
Adjournment of the special meeting was deemed not necessary or appropriate because there was a quorum present
and there were sufficient votes at the time of the special meeting to approve the adoption of the Merger Agreement.
Proposal No. 3.
Approval, on a non-binding, advisory basis, of certain compensation that will or may become payable to certain named executive officers of Pericom that is based on or otherwise relates to the Merger.
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For |
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Against |
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Abstain |
15,235,175 |
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1,036,507 |
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224,818 |
Item 8.01 Other Events.
On November 20, 2015, the Company issued a press release announcing the preliminary results of the special meeting held on
November 20, 2015. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01.
Financial Statements and Exhibits.
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Press release, dated November 20, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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PERICOM SEMICONDUCTOR CORPORATION |
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Dated: November 20, 2015 |
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/s/ Kevin Bauer |
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Name: Kevin S. Bauer |
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Title: Chief Financial Officer |
EXHIBIT INDEX
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Press release, dated November 20, 2015. |
Exhibit 99.1
Pericom Shareholders Approve Merger with Diodes
Transaction Expected to Close as Early as Next Week Following Final Certification
of Results by Independent Inspector of Elections
Combination Will Broaden Pericoms Diverse Range of Product Offerings
and Expand International Customer Base
Milpitas, CA November 20, 2015 Pericom Semiconductor Corporation (Pericom or the Company) (NASDAQ:
PSEM) announced today that, based on a preliminary count of the votes cast at the Companys Special Meeting of Shareholders held this morning, Pericom shareholders have approved the previously announced Agreement and Plan of Merger between
Diodes Incorporated (Diodes) (NASDAQ: DIOD) and Pericom (the Agreement).
Based on the preliminary count by MacKenzie Partners,
Inc., Pericoms proxy solicitor, approximately 15.4 million shares were voted in favor of the Agreement, or 70.3% of the total shares outstanding and 93.2% of the total shares voted. As of September 22, 2015, the record date for the
Special Meeting, there were approximately 21.9 million shares of Pericom common stock outstanding.
We are extremely pleased with the outcome
of todays vote, said Alex Hui, Chairman and CEO of Pericom. The Pericom Board of Directors and management team recognize and appreciate the support and patience of our shareholders throughout this process, and we are eager to
reward them with the value they deserve. We look forward to joining the Diodes family. The combined companys expanded size and scale will enable us to offer a broader range of products to a larger customer base, driving higher levels of growth
than Pericom would have been able to achieve as a standalone company.
Pursuant to the terms of the Agreement and pending final certification of the
voting results, Diodes will acquire Pericom for the agreed-upon purchase price of $17.75 per share. As the transaction is not subject to regulatory approval, it is expected to close shortly after the certification by the independent inspector of
elections of the final results of todays voting at the Special Meeting. Pericom expects final results to be announced early next week.
Cowen and
Company is serving as independent financial advisor to Pericom, and Latham & Watkins LLP is serving as the Companys outside legal counsel.
Forward Looking Statements
This document contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that
could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to, the ability of the parties to consummate the proposed transaction; satisfaction of closing conditions to the
consummation of the proposed transaction; the impact of the announcement of the proposed transaction on Pericoms relationships with its employees, existing customers or potential future customers; and such other risks and uncertainties
pertaining to Pericoms business as detailed in its
filings with the SEC on Forms 10-K and 10-Q, which are available on the SECs website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date thereof. Pericom assumes no obligation to update any forward-looking statement contained in this document.
About
Pericom
Pericom Semiconductor Corporation (NASDAQ: PSEM) enables serial connectivity with the industrys most complete solutions for the
computing, communications, consumer and embedded market segments. Pericoms analog, digital and mixed-signal integrated circuits, along with its frequency control products are essential in the timing, switching, bridging and conditioning of
high-speed signals required by todays ever-increasing speed and bandwidth demanding applications. Company headquarters is in Milpitas, California, with design centers and technical sales and support offices globally.
Company Contact:
Pericom Semiconductor
Kevin Bauer, CFO
P: 408-232-9100
E: kbauer@pericom.com
Investor Contacts:
MacKenzie Partners, Inc.
Daniel Burch / Larry Dennedy
P: 212-929-5500
E: dburch@mackenziepartners.com or
ldennedy@mackenziepartners.com
Media Contact:
Sard Verbinnen & Co
Steven Goldberg / John
Christiansen
310-201-2040 / 415-618-8750
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