UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE
14D-9
(Rule 14d-101)
Solicitation/Recommendation Statement
Under Section 14(d)(4) of the Securities Exchange Act of 1934
ENERNOC, INC.
(Name of
Subject Company)
ENERNOC, INC.
(Name of
Person Filing Statement)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
292764107
(CUSIP Number of Class of Securities)
Timothy Healy
Chief Executive Officer
EnerNOC, Inc.
One Marina
Park Drive, Suite 400
Boston, Massachusetts 02210
(617)
224-9900
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications
on Behalf of the Person Filing Statement)
With
copies to:
Miguel Vega, Esq.
Barbara L. Borden, Esq.
Cooley LLP
500
Boylston Street
14
th
Floor
Boston, MA 02216
(617)
937-2300
☒
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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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On June 22, 2017, EnerNOC, Inc. (
EnerNOC
) issued a press release announcing the
execution of an Agreement and Plan of Merger (the
Merger Agreement
). Pursuant to the Merger Agreement, Pine Merger Sub, Inc. (
Purchaser
), a wholly owned subsidiary of Enel Green Power North
America, Inc., will commence a tender offer (the
Offer
) to purchase all of the issued and outstanding shares of EnerNOC common stock for $7.67 per share in cash. If successful, the Offer will be followed by a merger of
Purchaser with and into EnerNOC (the
Merger
).
This Schedule
14D-9
filing consists of
the following document relating to the proposed Offer and Merger:
(i)
|
Notice to Wells Fargo Bank, National Association, as trustee for EnerNOCs 2.25% Convertible Senior Notes due 2019, sent on June 23, 2017.
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2
June 23, 2017
Holders of the 2.25% Convertible Senior Notes due 2019
and
Wells Fargo Bank, National Association,
as Trustee
150 East 42nd Street, 40th Floor
New York, New York 10017
Attention: Corporate Trust Services
Ladies and Gentlemen:
Reference is made to the Indenture, dated as of August 18, 2014 (the
Indenture
), by and between
EnerNOC, Inc., a Delaware corporation (the
Company
), and Wells Fargo Bank, National Association, as trustee thereunder (the
Trustee
), for the 2.25% Convertible Senior Notes due 2019 (the
Notes
). All capitalized terms used but not defined herein shall have the respective meaning given them in the Indenture.
Pursuant to that certain Agreement and Plan of Merger (the
Merger Agreement
), dated as of
June 21, 2017, by and among the Company, Enel Green Power North America, Inc., a Delaware corporation (
Parent
), Pine Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent (the
Purchaser
), and Enel S.p.A., an Italian joint-stock company and the parent of Parent, the Purchaser will commence a tender offer (the
Offer
) no later than July 10, 2017 to acquire all of the
outstanding shares of common stock of the Company, $0.001 par value per share, (the
Shares
) at a purchase price of $7.67 per Share, net to the seller in cash, without interest and subject to any required withholding of
taxes. Following the consummation of the Offer, the Purchaser will be merged with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of Parent (the
Merger
and,
together with the Offer, the
Transaction
). If consummated, the Transaction will constitute a Fundamental Change, a Make-Whole Fundamental Change and a Specified Corporate Event under the Indenture. However, because the
Stock Price is expected to be below the lower bound of the make-whole table, no Additional Shares are expected to be added to the Conversion Rate for the Notes under Section 14.03 of the Indenture.
The Company currently anticipates that the Offer will be consummated on or about August 8, 2017 (subject to obtaining
required regulatory approvals and other closing conditions) and August 9, 2017 will be the date as of which it is expected that holders of Shares of record shall be entitled to exchange their Shares for cash. Accordingly, the Notes may be
submitted for conversion pursuant to Section 14.01(b)(iii) of the Indenture, commencing from and after the first Business Day following the date of this notice.
The foregoing notice is being filed with the Trustee and provided to the Holders pursuant to Sections 14.01(b)(iii) and 14.10
of the Indenture.
Additional Information about the Transaction and Where to Find It
The Offer has not yet commenced. This notice is neither an offer to buy nor a solicitation of an offer to sell any securities of the Company. The solicitation
and the offer to buy the Shares will only be made pursuant to a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials that Purchaser intends to file with the Securities and
Exchange Commission (the
SEC
). In addition, the Company will file with the SEC a Solicitation/Recommendation Statement on Schedule
14D-9
with respect to the Offer. Once filed,
investors and security holders will be able to obtain the tender statement on Schedule TO, the offer to purchase, the Solicitation/Recommendation Statement of the Company on Schedule
14D-9
and related
materials with respect to the tender offer and the merger, free of charge at the website of the SEC at www.sec.gov or from the information agent and dealer manager named in the tender offer materials. Investors and security holders may also obtain,
at no charge, the documents filed with or furnished to the SEC by the Company under the Investors section of the Companys website at www.enernoc.com. Investors and security holders are advised to read these documents when they
become available, including the Solicitation/Recommendation Statement of the Company and any amendments thereto, as well as any other documents relating to the Offer and the Merger that are filed with the SEC, carefully and in their entirety prior
to making any decisions with respect to whether to tender their shares into the Offer because they contain important information, including the terms and conditions of the Offer.
Forward-Looking Statements
Certain statements either
contained in or incorporated by reference into this notice, other than purely historical information, including statements relating to the sale of the Company and any statements relating to the Companys business and expected operating results,
and the assumptions upon which those statements are based, are forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or
conditions, and include words such as believes, plans, anticipates, projects, estimates, expects, intends, strategy, future,
opportunity, may, will, should, could, potential, or similar expressions. Such forward-looking statements include the ability of the Company, Parent, Purchaser and Guarantor to
complete the transactions contemplated by the Merger Agreement, including the parties ability to satisfy the conditions to the consummation of the Offer and the other conditions set forth in the Merger Agreement and the possibility of any
termination of the Merger Agreement. The forward-looking statements contained in this document are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the
forward-looking statements. Actual results may differ materially from current expectations because of risks associated with uncertainties as to the timing of the Offer and the subsequent Merger; uncertainties as to how many of the Companys
stockholders will tender their Shares in the Offer; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the Offer or the Merger may not be satisfied or waived,
including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the Offer or the Merger; the effects of disruption from the transactions of the Companys business and the fact that the announcement
and pendency of the transactions may make it more difficult to establish or maintain relationships with employees, suppliers and other business partners; and other uncertainties pertaining to the business of the Company, including those detailed in
the Companys public filings with the Securities and Exchange Commission from time to time, including the Companys most recent Annual Report on Form
10-K
for the year ended December 31, 2016
and Quarterly Reports on Form
10-Q.
The reader is cautioned not to unduly rely on these forward-looking statements. The Company expressly disclaims any intent or obligation to update or revise publicly these
forward-looking statements except as required by law.
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