Amended Tender Offer Statement by Third Party (sc To-t/a)
December 28 2021 - 10:47AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
SCHEDULE TO
TENDER OFFER STATEMENT UNDER SECTION 14(D)(1)
OR 13(E)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
DICERNA PHARMACEUTICALS, INC.
(Name of Subject Company (Issuer))
NNUS NEW RESEARCH, INC.
an indirect wholly owned subsidiary of
NOVO NORDISK A/S
(Names of Filing Persons (Offeror))
Common Stock, Par Value $0.0001 Per Share
(Title of Class of Securities)
253031108
(Cusip Number of Class of Securities)
Tomas Haagen
General Counsel
Novo Nordisk A/S
Novo Allé, DK- 2880, Bagsvaerd
Denmark
Telephone: +45 4444 8888
(Name, Address and Telephone Number of Person Authorized
to
Receive Notices and Communications on Behalf of Filing Persons)
Copy to:
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William H. Aaronson
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
(212) 450-4000
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CALCULATION OF FILING FEE
Transaction Valuation*
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Amount of Filing Fee**
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3,234,126,302.44
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299,803.51
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*
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Solely for the purpose of calculating the filing fee, the underlying value of the transaction was calculated based on the sum of (a)
the product of 75,849,396 shares of common stock (calculated as 78,129,378 shares of common stock issued and outstanding less 2,279,982
shares of common stock owned by Novo Nordisk A/S) and $38.25 per share; (b) the product of 13,418,179 shares of common stock underlying
outstanding options and $21.61, which is the difference between $38.25 and the weighted average exercise price of $16.64 per share of
the underlying outstanding stock options; (c) the product of 1,122,093 shares of common stock underlying outstanding restricted stock
unit awards and $38.25 per share. The calculation of the filing fee is based on information provided by the Company as of November 22,
2021.
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**
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The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory
No. 1 for Fiscal Year 2022, issued August 23, 2021 and effective October 1, 2021, by multiplying the transaction value by 0.0000927.
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☒
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Check box if any part of the fee is offset as provided by Rule 0-11(a)(2) 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.
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Amount Previously Paid:
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$299,803.51
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Filing Party:
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NNUS New Research, Inc. and Novo Nordisk A/S
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Form or Registration No.:
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Schedule TO-T
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Date Filed:
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November 24, 2021
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☐
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Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
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Check the appropriate boxes below
to designate any transactions to which the statement relates:
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☒
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third-party tender offer subject to Rule 14d-1.
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☐
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issuer tender offer subject to Rule 13e-4.
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☐
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going-private transaction subject to Rule 13e-3.
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☐
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amendment to Schedule 13D under Rule 13d-2.
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Check the following box if the filing is a final amendment reporting
the results of the tender offer. ☒
This Amendment No. 3 (this “Amendment”) amends and supplements
the Tender Offer Statement on Schedule TO filed with the Securities and Exchange Commission on November 24, 2021 (together with any subsequent
amendments and supplements thereto, the “Schedule TO”), by NNUS New Research, Inc., a Delaware corporation (“Purchaser”)
and an indirect wholly owned subsidiary of Novo Nordisk A/S, a Danish aktieselskab (“Parent”), and Parent. The Schedule
TO relates to the offer by Purchaser to purchase all of the outstanding shares of common stock, par value $0.0001 per share (the “Shares”),
of Dicerna Pharmaceuticals, Inc., a Delaware corporation (the “Company”), at a purchase price of $38.25 per Share, net to
the holder in cash, without interest and subject to any withholding of taxes, upon the terms and subject to the conditions described in
the Offer to Purchase dated November 24, 2021 (together with any amendments or supplements thereto, the “Offer to Purchase”)
and in the accompanying Letter of Transmittal (together with any amendments or supplements thereto and with the Offer to Purchase, the
“Offer”), which are attached to the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively.
Except as otherwise set forth in this Amendment, the information set
forth in the Schedule TO remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment.
Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule TO.
ITEMS 1 THROUGH 9; AND ITEM 11.
The information set forth in the Offer to Purchase and Items 1 through
9 and Item 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase,
are hereby amended and supplemented as follows:
“The Offer expired at 5:00 p.m., Eastern
Time, on December 27, 2021. The Depository advised Purchaser that, as of the expiration of the Offer, a total of 64,946,526 Shares
were validly tendered and not validly withdrawn, representing approximately 82.6% of the Shares outstanding as of the expiration
of the Offer.
As of the expiration of the Offer, the number
of Shares validly tendered and not validly withdrawn pursuant to the Offer satisfied the Minimum Condition, and all other conditions to
the Offer were satisfied or waived. Immediately after the expiration of the Offer, Purchaser irrevocably accepted for payment, and will
promptly (and in any event within three business days) pay for, all Shares tendered and not validly withdrawn pursuant to the Offer.
Parent and Purchaser completed the acquisition
of the Company on December 28, 2021 by consummating the Merger pursuant to the Merger Agreement without a vote of the Company shareholders
in accordance with Section 251(h) of the DGCL. At the effective time of the Merger, each outstanding Share (other than (i) Shares
held by the Company (or held in the treasury of the Company), (ii) Shares held by Parent, Purchaser or any other direct or indirect wholly
owned subsidiary of Parent and (iii) Shares held by stockholders who were entitled to appraisal rights under Section 262 of the DGCL and
properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262
of the DGCL and, as of the effective time of the Merger, had neither effectively withdrawn nor lost their rights to such appraisal and
payment under the DGCL) were converted into the right to receive $38.25, in cash, without interest.
Following consummation of the Merger, the Shares
will be delisted and will cease to trade on Nasdaq. Parent and Purchaser intend to take steps to cause the termination of the registration
of the Shares under the Exchange Act and suspend all of the Company’s reporting obligations under the Exchange Act as promptly as
practicable.
ITEMS 12. EXHIBITS
Index
No.
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(a)(5)(C)*
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Press Release issued by Parent, dated December 28, 2021.
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________________
* Filed
herewith
SIGNATURE
After due 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.
Dated: December 28, 2021
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NNUS NEW RESEARCH, INC.
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By:
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/s/ Ulrich Christian Otte
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Name:
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Ulrich Christian Otte
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Title:
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President
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NOVO NORDISK A/S
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By:
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/s/ Karsten Munk Knudsen
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Name:
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Karsten Munk Knudsen
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Title:
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Executive Vice President and Chief Financial Officer
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