This Amendment No. 2 on Schedule 13D/A (this
Amendment No.
2
), is
being filed jointly by WC SACD One Merger Sub, Inc. (
Merger Sub
), WC SACD One Parent, Inc. (
Parent
), WC SACD One, Inc. (
WC SACD
), and WndrCo Holdings, LLC (
WndrCo
, and
together with Merger Sub, Parent and WC SACD, the
Reporting Persons
). This Amendment No. 2 amends and supplements the Schedule 13D as previously filed by the Reporting Persons on November 13, 2018, as amended by
Amendment No. 1 thereto, filed on January 9, 2019 (as amended, the
Schedule 13D
), with respect to the common stock of Intersections Inc., a Delaware corporation (the
Company
), par value $0.01 per share
(the
Common Stock
).
Each Item below amends and supplements the information disclosed under the corresponding Item of the Schedule 13D.
Unless otherwise indicated herein, capitalized terms used but not defined in this Amendment No. 2 shall have the same meaning herein as are ascribed to such terms in the Schedule 13D. Except as set forth in this Amendment No. 2, the
information contained in the Schedule 13D has not been updated or amended.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended and supplemented to add the following:
The aggregate consideration paid by Merger Sub in the Offer and Merger was approximately $65 million, not including the value of the Rollover Shares
and related transaction fees and expenses. WC SACD provided Merger Sub and Parent with the funds necessary to complete the Offer and Merger in accordance with the Merger Agreement. WC SACD funded these payments with a combination of
(i) proceeds from the Bridge Note from WndrCo and (ii) an equity investment from iSubscribed, WndrCo, and the GC Funds.
Item 4.
|
Purpose of Transaction.
|
Item 4 is hereby amended and supplemented to add the following:
Closing of the Merger
Upon consummation of the
Offer, Merger Sub accepted for purchase a total of 13,443,400 Shares (the
Tender Offer Shares
), which were validly tendered and not validly withdrawn from the Offer (including 8,012 Shares that were validly tendered pursuant to
the notice of guaranteed delivery procedures). On January 11, 2019, immediately prior to the Effective Time of the Merger, the Parent Note automatically converted into 13,240,089 shares of Common Stock in accordance with its terms (the
Converted Shares
). Pursuant to the terms of the Contribution and Assignment Agreements, the Rollover Holders contributed the Rollover Shares (consisting of an aggregate of 11,103,640 Shares) to WC SACD, and prior to the
consummation of the Merger, WC SACD contributed and assigned the Rollover Shares to Parent.
Subsequently, on January 11, 2019, Parent completed its
acquisition of the Company pursuant to the terms of the Merger Agreement, wherein Merger Sub merged with and into the Company in accordance with Section 251(h) of the DGCL, with the Company surviving as an indirect wholly-owned subsidiary of
Parent (the
Merger
). At the Effective Time, each Share not tendered into the Offer, other than Shares held by stockholders who perfected their appraisal rights under Delaware law, Shares held in the treasury of the Company or
owned, directly or indirectly, by Parent or Merger Sub immediately prior to the Effective Time (including the Tender Offer Shares, the Converted Shares and the Rollover Shares), were automatically cancelled and converted into the right to receive
$3.68 in cash (without interest and subject to deduction for any applicable withholding tax), which is the same price that was paid in the Offer. Each Share held in the treasury of the Company or owned, directly or indirectly, by Parent or Merger
Sub immediately prior to the Effective Time (including the Tender Offer Shares, the Converted Shares and the Rollover Shares) were automatically cancelled for no consideration and ceased to exist.
At the Effective Time of the Merger, each share of common stock of Merger Sub issued and outstanding immediately before the Effective Time automatically
converted into and become one validly issued, fully paid and
non-assessable
share of common stock, par value $0.01 per share, of the Company. In connection with the Merger, at the Effective Time, (a) each
of the directors of the Company (John M. Albertine, Thomas G. Amato, Bruce M. Lev, David A. McGough, Melvin R. Seiler, Michael R. Stanfield) resigned as directors of the Company and its subsidiaries, as applicable; (b) Hari Ravichandran, Hamed
Saeed and Blake Cunneen became the directors of the Company following the Effective Time; and (c) Hari Ravichandran, Melba M. Amissi, Duane L. Berlin, Ronald L. Barden and Tracy M. Ward became the officers of the Company following the Effective
Time.
At the Effective Time, the Companys certificate of incorporation was amended and restated in its entirety in the form attached as Exhibit C
to the Merger Agreement, and Merger Subs bylaws became the bylaws of the Company (provided, all references therein to Merger Sub became references to the Company).
Immediately following the effectiveness of the Merger, the Company notified the Nasdaq Global Select Market (
Nasdaq
) of the completion of
the Merger and the Companys intent to remove its Common Stock from listing on the Nasdaq. On January 11, 2019, Nasdaq filed with the SEC a Form 25 to delist and deregister the Common Stock under Section 12(b) of the Securities
Exchange Act of 1934, as amended (the
Exchange Act
). Trading of the Common Stock on the Nasdaq was suspended as of approximately 9:00 a.m. New York City time on January 14, 2019. In addition, the Company intends to file with
the SEC a certification and notice of termination on Form 15 with respect to the Common Stock, requesting that the Common Stock be deregistered under the Exchange Act, and that the reporting obligations of the Company with respect to the Common
Stock under Sections 13(a) and 15(d) of the Exchange Act be suspended.