As filed with the Securities and Exchange Commission on July 3, 2018
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Tender Offer Statement under Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
Juniper Pharmaceuticals, Inc.
(Name of Subject Company (Issuer))
Catalent Boston, Inc.
A wholly owned subsidiary of
Catalent Pharma Solutions, Inc.
A wholly owned subsidiary of
(Names of Filing Persons (Offeror))
Common Stock, par value $0.01 per share
(Title of Class of Securities)
(CUSIP Number of Class of Securities)
Steven L. Fasman, Esq.
Senior Vice President, General Counsel and Secretary
14 Schoolhouse Road
Somerset, New Jersey 08873
(Name, Address and Telephone Numbers of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)
Richard A. Silfen, Esq.
Barry Steinman, Esq.
Peter D. Visalli, Esq.
Duane Morris LLP
30 South 17th Street
Philadelphia, Pennsylvania 19103
CALCULATION OF FILING FEE
|Transaction Valuation*||Amount of Filing Fee*|
|*||A filing fee is not required in connection with this filing as it relates solely to preliminary communications made before the commencement of the tender offer|
|☐||Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) of the Securities Exchange Act of 1934 and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.|
Amount Previously Paid: None
|Filing Party: Not applicable|
Form or Registration No.: Not applicable
|Date Filed: Not applicable|
|☒||Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.|
Check the appropriate boxes below to designate any transactions to which the statement relates:
|☒||third-party tender offer subject to Rule 14d-1.|
|☐||issuer tender offer subject to Rule 13e-4.|
|☐||going-private transaction subject to Rule 13e-3.|
|☐||amendment to Schedule 13D under Rule 13d-2.|
Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐
This filing relates solely to preliminary communications made before the commencement of a tender offer by Catalent Boston, Inc. (Merger Sub), a wholly owned subsidiary of Catalent Pharma Solutions, Inc. (CPS), which is a wholly owned subsidiary of Catalent, Inc. (the Company), to acquire all of the outstanding shares of common stock of Juniper Pharmaceuticals, Inc. (the Target), at a price of $11.50 per share, net to the seller in cash, without interest, pursuant to an Agreement and Plan of Merger, dated July 2, 2018, among CPS, the Target, and Merger Sub.
In connection with the proposed acquisition, CPS and Merger Sub will commence the Offer for the outstanding shares of common stock of the Target. The Offer has not yet commenced. This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of common stock of the Target, nor is it a substitute for the Offer materials that the Company, CPS, and Merger Sub will file with the U.S. Securities and Exchange Commission (the SEC) upon commencement of the Offer. At the time the Offer is commenced, the Company, CPS, and Merger Sub will file tender offer materials on Schedule TO with the SEC, and Target will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the Offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL, AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY AND CONSIDERED BY TARGETS STOCKHOLDERS BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Both the tender offer statement and the solicitation/recommendation statement will be made available to Targets stockholders free of charge. A free copy of the tender offer statement and the solicitation/recommendation statement will also be made available to all stockholders of Target by contacting Target by phone at +1 (617) 639-1500. In addition, the tender offer statement and the solicitation/recommendation statement (and all other documents filed with the SEC) will be available at no charge on the SECs website, www.sec.gov, upon filing with the SEC. TARGETS STOCKHOLDERS ARE ADVISED TO READ THE SCHEDULE TO AND THE SCHEDULE 14D-9, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER. THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES THERETO.
Cautionary Note Concerning Forward-Looking Statements
This document and the exhibit attached hereto contain both historical and forward-looking statements, including concerning the Offer and Merger. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified because they relate to the topics set forth above or by the use of statements that include phrases such as believe, expect, anticipate, intend, estimate, plan, project, foresee, likely, may, will, would or other words or phrases with similar meanings. Similarly, statements that describe the Companys objectives, plans or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the Companys expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: regulatory actions that may delay or interfere with the closing of the acquisition or result in other changes to the Companys business; other unanticipated events that may prevent a closing of the acquisition or may make it more difficult to realize the anticipated benefits of the transaction; participation in a highly competitive market and increased competition may adversely affect the business of the Company or of Target; demand for the Companys or Targets offerings which depends in part on their customers research and development and the clinical success of their products; failure to comply with existing and future regulatory requirements; failure to provide quality offerings to customers could have an adverse effect on the business and subject it to regulatory actions and costly litigation; problems providing the highly exacting and complex services or support required; global economic, political and regulatory risks to the operations of the Company and Target; inability to enhance existing or introduce new technology or service offerings in a timely manner; inadequate patents, copyrights, trademarks and other forms of intellectual property protections; changes in market access or healthcare reimbursement in the United States or internationally; fluctuations in the exchange rate of the U.S. dollar and other foreign currencies including as a result of the recent U.K. referendum to exit from the European Union; adverse tax legislation initiatives or challenges to the Companys tax positions; loss of key personnel; risks generally associated with information systems; inability to complete any future acquisition or other transactions that may complement or expand the business of the Company or divest of non-strategic businesses or assets and the Companys ability to successfully integrate acquired business and realize anticipated benefits of such acquisitions; offerings and customers products that may infringe on the intellectual property rights of third parties; environmental, health and safety laws and regulations, which could increase costs and restrict operations; labor and employment laws and regulations; additional cash contributions required to fund the Companys existing pension plans;
substantial leverage resulting in the limited ability of the Company to raise additional capital to fund operations and react to changes in the economy or in the industry, exposure to interest rate risk to the extent of the Companys variable rate debt and preventing the Company from meeting its obligations under its indebtedness. For a more detailed discussion of these and other factors, see the information under the caption Risk Factors in the Companys Annual Report on Form 10-K for the fiscal year ended June 30, 2017, filed August 28, 2017 with the SEC. All forward-looking statements speak only as of the date of this document or as of the date they are made, and the Company does not undertake to update any forward-looking statement as a result of new information or future events or developments except to the extent required by law.
|99.1||Presentation to Juniper Pharmaceuticals, dated July 3, 2018|
|99.2||Letter from John Chiminski, Chairman and CEO of Catalent, Inc. to Juniper Pharmaceuticals Employees, dated July 3, 2018|
Juniper Town Hall JONATHAN ARNOLD PRESIDENT, ORAL DRUG DELIVERY 03.07.18 DEVELOPMENT DELIVERY SUPPLY more products. better treatments. reliably supplied.TM
Were excited to have your business join ours!
Why Juniper? An early-phase EU development hub to complement our San Diego, CA and Somerset, NJ development Centers of Excellence A strong source of new molecules for our manufacturing network to enable your customers to seamlessly scale up and launch Shared values and commitment to solutions-oriented development, quality, and operational excellence Strong leadership and well-defined strategy targeting molecules with challenges
Catalent + Juniper Juniper fits perfectly with Catalents Follow-the-Molecule strategy Molecule from Discovery CATALENT SERVICES Development Solutions Molecule analysis Dose formulation Clinical testing Regulatory filings Advanced Delivery Technologies Commercial Lifecycle Innovator Product OTC Branded & Private Label Generic Rx Products . building a new pipeline for commercial product manufacturing
Catalent is the #1 ADVANCED DELIVERY PARTNER in helping pharmaceutical, biotech and consumer health innovators DEVELOP and SUPPLY superior products that improve peoples lives.
The Catalent story 80-year history Journey of transformation IPO, July 2014 on NYSE Strong track record of investments and growth FY09 FY17 FY09 FY17
Our business units Softgel Technologies Softgel capsules for pharmaceutical, OTC, nutritional & beauty product supply Biologics & Specialty Drug Delivery Biologics development, drug substance, drug product, respiratory & ophthalmic supply Oral Drug Delivery Formulation development, analytical services & oral solid dose supply Clinical Supply Services Packaging & distribution supply solutions for global clinical trials
A GLOBALNETWORK SPANNING FIVE CONTINENTS +30 SITES SUPPLYING +72B DOSES OF +7000 PRODUCTS TO +1000 CUSTOMERS BIOLOGIES CLINICAL SUPPLY SERVICES INHALATION DEVELOPMENT & ANALYTICAL SERVICES INTEGRATED PACKAGING ORAL SOLID SOLUTIONS PARTICALE SIZE SCIENCES SOFTGEL TECHNOLOGIES STERILE TECHNOLOGIES SALES & MANAGEMENT OFFICE
KEEPING PATIENTS FIRST At the core of Catalents mission is developing and supplying products to ENHANCE AND IMPROVE THE LIVES OF YOUR PATIENTS We are dedicated to using all our expertice and advanced technologies in partnering with you to design better treatments that deliver for PATIENTS FIRST With our responsibility for supplying thousands of products to patients worldwide, we share your view that when patients come first, EVERY OUTCOME MATTERS!
What happens now? We are still two separate companies. Its business as usual. The closing is expected during Junipers 3rd qtr. Forward customer or media questions to your normal channels. The only information that can be shared is what is available publicly.
Thank you for hosting me today!
discover more. CATALENT PHARMA SOLUTIONS 14 SCHOOLHOUSE ROAD SOMERSET, NJ 08873 + 1 866 720 3148 WWW.CATALENT.COM more products. Better treatments. Reliably supplied.TM DEVELOPMENT DELIVERY SUPPLY
|Catalent, Inc.||John Chiminski|
|14 Schoolhouse Road||Chair & Chief Executive Officer|
|Somerset, NJ 08873|
T (732) 537-6200
|F (732) 537-5932|
July 3, 2018
Dear Juniper Team,
As you heard today from Nikin Patel, Catalent is excited about the prospect of joining your great team with ours. I wanted to reach out to you directly to tell you a little more about our company and to echo what Nikin has already told you: your skills and expertise are an important part of our future. This acquisition will bring together two companies with complementary capabilities and shared values. Like you, our first commitment is to those who rely on the life-saving, life-enhancing products we deliver. Together, we can bring more transformative therapies to people around the world.
From pharmaceuticals and biologics to consumer health products, Catalent is the industry leader in drug development solutions and advanced drug delivery technologies. Every year we reliably supply:
|||72 billion doses of 7,000 products|
|||1 in every 20 doses taken globally|
|||1,000+ customers in 80+ countries|
|||180+ new product launches|
Above all, we operate with a patient-first mindset, which drives our commitment to operational and regulatory excellence and innovation.
You should also know that Catalent doesnt enter into these types of deals lightly. Our standards for acquisitions are high. Your company possesses all the characteristics we look for: an experienced, values-minded team; an impressive breadth of products and capabilities; a strong reputation for customer service and operational excellence; and capacity to grow. Further, the Nottingham location will allow us to establish an early-stage formulation and development center of excellence in Western Europe to complement our U.S.-based early drug development facilities in San Diego and Somerset, NJ.
As weve come to know your company, we have also come to appreciate the successes youve had. We intend to build on those achievements and look forward to welcoming your company into ours.
Chair and CEO