* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. | |
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (the Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). |
CUSIP No. |
09069N108 |
13D | Page | 2 |
of | 15 |
1 | NAMES OF REPORTING PERSONS Richard H. Friedman |
||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) |
||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
00 | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
United States of America | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 2,411,944 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 3,329,499* | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 2,411,944 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
3,329,499* | |||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
þ** | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
7.9%* | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IN |
* | See discussion in Items 4 and 5 of this Statement on Schedule 13D. As more fully described in the responses to Items 4 and 5 of this Statement on Schedule 13D, beneficial ownership of the above referenced shares of Common Stock is being reported hereunder solely because the Reporting Persons and certain other beneficial owners of Common Stock named herein may be deemed to have beneficial ownership of such shares as a result of the Voting Agreement described below. Neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by any Reporting Person that, except as set forth herein, it is the beneficial owner of any shares of Common Stock for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership thereof is expressly disclaimed. | |
** | See footnotes 1 - 4 in Item 5 (a) - (b). |
CUSIP No. |
09069N108 |
13D | Page | 3 |
of | 15 |
1 | NAMES OF REPORTING PERSONS Richard M. Smith |
||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) |
||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
00 | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
United States of America | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 155,000 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 3,329,499* | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 155,000 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
3,329,499* | |||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
þ** | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
7.9%* | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IN |
* | See discussion in Items 4 and 5 of this Statement on Schedule 13D. As more fully described in the responses to Items 4 and 5 of this Statement on Schedule 13D, beneficial ownership of the above referenced shares of Common Stock is being reported hereunder solely because the Reporting Persons and certain other beneficial owners of Common Stock named herein may be deemed to have beneficial ownership of such shares as a result of the Voting Agreement described below. Neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by any Reporting Person that, except as set forth herein, it is the beneficial owner of any shares of Common Stock for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership thereof is expressly disclaimed. | |
** | See footnotes 1 - 4 in Item 5 (a) - (b). |
CUSIP No. |
09069N108 |
13D | Page | 4 |
of | 15 |
1 | NAMES OF REPORTING PERSONS Barry A. Posner |
||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) |
||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
00 | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
United States of America | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 384,388 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 3,329,499* | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 384,388 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
3,329,499* | |||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
þ** | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
7.9%* | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IN |
* | See discussion in Items 4 and 5 of this Statement on Schedule 13D. As more fully described in the responses to Items 4 and 5 of this Statement on Schedule 13D, beneficial ownership of the above referenced shares of Common Stock is being reported hereunder solely because the Reporting Persons and certain other beneficial owners of Common Stock named herein may be deemed to have beneficial ownership of such shares as a result of the Voting Agreement described below. Neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by any Reporting Person that, except as set forth herein, it is the beneficial owner of any shares of Common Stock for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership thereof is expressly disclaimed. | |
** | See footnotes 1 - 4 in Item 5 (a) - (b). |
CUSIP No. |
09069N108 |
13D | Page | 5 |
of | 15 |
1 | NAMES OF REPORTING PERSONS Stanley G. Rosenbaum |
||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) |
||||||||||
(a) o | |||||||||||
(b) þ | |||||||||||
3 | SEC USE ONLY | ||||||||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | ||||||||||
00 | |||||||||||
5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ||||||||||
o | |||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||
United States of America | |||||||||||
7 | SOLE VOTING POWER | ||||||||||
NUMBER OF | 378,167 | ||||||||||
SHARES | 8 | SHARED VOTING POWER | |||||||||
BENEFICIALLY | |||||||||||
OWNED BY | 3,329,499* | ||||||||||
EACH | 9 | SOLE DISPOSITIVE POWER | |||||||||
REPORTING | |||||||||||
PERSON | 378,167 | ||||||||||
WITH | 10 | SHARED DISPOSITIVE POWER | |||||||||
0 | |||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||
3,329,499* | |||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | ||||||||||
þ** | |||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||
7.9%* | |||||||||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | ||||||||||
IN |
* | See discussion in Items 4 and 5 of this Statement on Schedule 13D. As more fully described in the responses to Items 4 and 5 of this Statement on Schedule 13D, beneficial ownership of the above referenced shares of Common Stock is being reported hereunder solely because the Reporting Persons and certain other beneficial owners of Common Stock named herein may be deemed to have beneficial ownership of such shares as a result of the Voting Agreement described below. Neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by any Reporting Person that, except as set forth herein, it is the beneficial owner of any shares of Common Stock for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership thereof is expressly disclaimed. | |
** | See footnotes 1 - 4 in Item 5 (a) - (b). |
CUSIP No. 09069N108 | 13D | Page 6 of 15 |
CUSIP No. 09069N108 | 13D | Page 7 of 15 |
| at any time that the Issuer conducts a meeting of, or otherwise seeks a vote or consent of, the holders of the Common Stock for the purpose of approving and adopting the Merger (as defined below), the other transactions contemplated by the Merger Agreement and the actions required in furtherance thereof, such Reporting Person will vote, or provide a consent with respect to, the shares of Common Stock owned by such Reporting Person: |
o | in favor of the Merger, the other transactions contemplated by the Merger Agreement and the actions required in furtherance thereof, which includes the |
CUSIP No. 09069N108 | 13D | Page 8 of 15 |
issuance of Common Stock and Warrants (as defined below) in connection with the Merger; and | |||
o | against any action or agreement that would compete with, impede, delay or interfere with the approval of the Merger and the other transactions contemplated by the Merger Agreement; and |
| that at the first annual meeting of the holders of Common Stock following the closing of the Merger for the purpose of the election of directors to the Board of Directors of the Issuer, such Reporting Person will vote the shares of Common Stock owned by such Reporting Person in favor of each of the two individuals designated by the Stockholders Representative pursuant to the terms of the stockholders agreement, dated as of January 24, 2010, by and among the Issuer, the Target Stockholders and Colleen Lederer. |
| Cash of $110,000,000 (which will be subject to increase if net indebtedness of CHS at the Effective Time is less than $132,000,000 and decrease if net indebtedness of CHS at the Effective Time is greater than $132,000,000); |
| the repayment of net indebtedness of CHS (approximately $132,000,000 at December 31, 2009, subject to adjustment as described above); |
| approximately 12,655,600 shares of Common Stock having an aggregate value of $98,966,792 based on the Issuers closing stock price of $7.82 on January 22, 2010, the last trading day prior to execution of the Merger Agreement (which will be subject to increase if net indebtedness of CHS at the Effective Time is less than $132,000,000), and assuming that no Options have been exercised between the date of the Merger Agreement and the closing of the Merger and that CHSs expenses in connection with the Merger are $10,000,000 and the net indebtedness is $132,000,0000; and |
CUSIP No. 09069N108 | 13D | Page 9 of 15 |
| warrants representing the right to purchase, in the aggregate, 3,400,945 shares of Common Stock, having a $10.00 per share strike price and a five year term (the Warrants). |
CUSIP No. 09069N108 | 13D | Page 10 of 15 |
Shared | ||||||||||||||||||||||||
Sole | power to | |||||||||||||||||||||||
Percent of shares of | Sole | Shared | power to | dispose of | ||||||||||||||||||||
Common | power to | power to | dispose or | or | ||||||||||||||||||||
Shares of | Stock outstanding | vote or | vote or | direct the | direct the | |||||||||||||||||||
Reporting | Common | pursuant to Rule | direct | direct | disposition | disposition | ||||||||||||||||||
Person | Stock | 13d-3(d)(1)(5) | the vote | the vote | of | of | ||||||||||||||||||
Richard H. Friedman |
2,411,944(1) | 5.8%(1) | 2,411,944 | 3,329,499 | 2,411,941 | 0 | ||||||||||||||||||
Richard M. Smith |
155,000(2) | 0.4%(2) | 155,000 | 3,329,499 | 155,000 | 0 | ||||||||||||||||||
Barry A. Posner |
384,388 (3) | 0.9%(3) | 384,388 | 3,329,499 | 384,388 | 0 | ||||||||||||||||||
Stanley G. Rosenbaum |
378,167(4) | 0.9%(4) | 378,167 | 3,329,499 | 378,167 | 0 |
(1) | Includes 1,395,865 shares issuable upon exercise of the vested portion of options held by Mr. Friedman. Excludes 225,000 shares subject to the unvested portion of options held by Mr. Friedman. Includes 250,000 shares of Common Stock owned by the Richard H. Friedman Grantor Retained Annuity Trust, of which Mr. Friedman is the trustee. | |
(2) | Includes 35,000 shares issuable upon exercise of the vested portion of options held by Mr. Smith. Excludes 70,000 shares subject to the unvested portion of options held by Mr. Smith. | |
(3) | Includes 334,262 shares issuable upon exercise of the vested portion of options held by Mr. Posner. Excludes 133,750 shares subject to the unvested portion of options held by Mr. Posner. | |
(4) | Includes 193,410 shares issuable upon exercise of the vested portion of options held by Mr. Rosenbaum. Excludes 146,874 shares subject to the unvested portion of options held by Mr. Rosenbaum. | |
(5) | Based on 40,420,776 shares of Common Stock outstanding as of January 29, 2010. |
CUSIP No. 09069N108 | 13D | Page 11 of 15 |
Shares | ||||||||||||||||
Exercisable | ||||||||||||||||
within 60 | ||||||||||||||||
Shares | days of | Exercise | ||||||||||||||
Name | Option Date | Plan | Outstanding | 2/2/2010 | Price | |||||||||||
Friedman, Richard |
||||||||||||||||
11/28/2001 | 2001 Incentive Stock Plan | 200,000 | 200,000 | $12.20 | ||||||||||||
1/2/2002 | 2001 Incentive Stock Plan | 200,000 | 200,000 | $17.80 | ||||||||||||
1/2/2003 | 2001 Incentive Stock Plan | 91,698 | 91,698 | $ 5.80 | ||||||||||||
1/2/2004 | 2001 Incentive Stock Plan | 200,000 | 200,000 | $ 7.03 | ||||||||||||
1/3/2005 | 2001 Incentive Stock Plan | 200,000 | 200,000 | $ 6.36 | ||||||||||||
1/3/2006 | 2001 Incentive Stock Plan | 200,000 | 200,000 | $ 7.54 | ||||||||||||
1/2/2007 | 2001 Incentive Stock Plan | 66,667 | 66,667 | $ 3.46 |
CUSIP No. 09069N108 | 13D | Page 12 of 15 |
Shares | ||||||||||||||||
Exercisable | ||||||||||||||||
within 60 | ||||||||||||||||
Shares | days of | Exercise | ||||||||||||||
Name | Option Date | Plan | Outstanding | 2/2/2010 | Price | |||||||||||
1/2/2008 | 2001 Incentive Stock Plan | 130,000 | 130,000 | $ 7.70 | ||||||||||||
1/2/2008 | 2001 Incentive Stock Plan | 70,000 | 70,000 | $ 7.70 | ||||||||||||
4/29/2008 | 2008 Equity Incentive Plan | 112,500 | 37,500 | $ 6.52 | ||||||||||||
4/28/2009 | 2008 Equity Incentive Plan | 150,000 | 0 | $ 2.73 | ||||||||||||
Smith, Richard M. |
||||||||||||||||
1/2/2009 | 2008 Equity Incentive Plan | 105,000 | 35,000 | $ 2.27 | ||||||||||||
Posner, Barry A. |
||||||||||||||||
11/28/2001 | 2001 Incentive Stock Plan | 70,000 | 70,000 | $12.20 | ||||||||||||
9/24/2003 | 2001 Incentive Stock Plan | 75,000 | 75,000 | $ 7.95 | ||||||||||||
7/1/2005 | 2001 Incentive Stock Plan | 13,800 | 13,800 | $ 6.00 | ||||||||||||
11/1/2006 | 2001 Incentive Stock Plan | 158,587 | 158,587 | $ 2.47 | ||||||||||||
4/29/2008 | 2008 Equity Incentive Plan | 50,625 | 16,875 | $ 6.52 | ||||||||||||
4/28/2009 | 2008 Equity Incentive Plan | 100,000 | 0 | $ 2.73 | ||||||||||||
Rosenbaum, Stanley |
||||||||||||||||
11/1/2006 | 2001 Incentive Stock Plan | 169,972 | 169,972 | $ 2.47 | ||||||||||||
4/29/2008 | 2008 Equity Incentive Plan | 70,312 | 23,438 | $ 6.52 | ||||||||||||
4/30/2008 | 2008 Equity Incentive Plan | 100,000 | 0 | $ 2.73 |
CUSIP No. 09069N108 | 13D | Page 13 of 15 |
Exhibit No. | Description | |
99.1
|
Agreement and Plan of Merger, dated as of January 24, 2010, by and among BioScrip, Inc., Camelot Acquisition Corp., Critical Homecare Solutions Holdings, Inc., Kohlberg Investors V, L.P., Kohlberg Partners V, L.P., Kohlberg Offshore Investors V, L.P., Kohlberg TE Investors V, L.P., KOCO Investors V, L.P., Robert Cucuel, Mary Jane Graves, Nitin Patel, Joey Ryan, Colleen Lederer, Blackstone Mezzanine Partners II L.P., Blackstone Mezzanine Holdings II L.P., and S.A.C. Domestic Capital Funding, Ltd. (incorporated herein by reference to Exhibit 2.1 of BioScrip Inc.s Current Report on Form 8-K filed January 27, 2010). | |
99.2
|
Voting Agreement, dated as of January 24, 2010, by and among Critical Homecare Solutions Holdings, Inc., Kohlberg Investors V, L.P., Richard H. Friedman, Barry A. Posner, Richard M. Smith and Stanley G. Rosenbaum (incorporated herein by reference to Exhibit 10.2 of BioScrip Inc.s Current Report on Form 8-K filed January 27, 2010). | |
99.3
|
Amended and Restated 2001 Incentive Stock Plan (incorporated herein by reference to BioScrip Inc.s definitive proxy statement for its 2003 annual meeting of stockholders filed April 30, 2003). | |
99.4
|
2008 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.1 of BioScrip Inc.s Registration Statement on Form S-8 filed May 16, 2008). | |
99.5
|
Form of Option Agreement for the Amended and Restated 2001 Incentive Stock Plan. | |
99.6
|
Form of Stock Option Agreement under the 2008 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.2 of BioScrip Inc.s Registration Statement on Form S-8 filed May 16, 2008). | |
99.7
|
Joint Filing Agreement, dated February 3, 2010, by and among Richard H. Friedman, Richard M. Smith, Barry A. Posner and Stanley G. Rosenbaum. |
CUSIP No. 09069N108 | 13D | Page 14 of 15 |
/s/ Richard H. Friedman | ||||
Richard H. Friedman | ||||
/s/ Richard M. Smith | ||||
Richard M. Smith | ||||
/s/ Barry A. Posner | ||||
Barry A. Posner | ||||
/s/ Stanley G. Rosenbaum | ||||
Stanley G. Rosenbaum | ||||
CUSIP No. 09069N108 | 13D | Page 15 of 15 |
Exhibit No. | Description | |
99.1
|
Agreement and Plan of Merger, dated as of January 24, 2010, by and among BioScrip, Inc., Camelot Acquisition Corp., Critical Homecare Solutions Holdings, Inc., Kohlberg Investors V, L.P., Kohlberg Partners V, L.P., Kohlberg Offshore Investors V, L.P., Kohlberg TE Investors V, L.P., KOCO Investors V, L.P., Robert Cucuel, Mary Jane Graves, Nitin Patel, Joey Ryan, Colleen Lederer, Blackstone Mezzanine Partners II L.P., Blackstone Mezzanine Holdings II L.P., and S.A.C. Domestic Capital Funding, Ltd. (incorporated herein by reference to Exhibit 2.1 of BioScrip Inc.s Current Report on Form 8-K filed January 27, 2010). | |
99.2
|
Voting Agreement, dated as of January 24, 2010, by and among Critical Homecare Solutions Holdings, Inc., Kohlberg Investors V, L.P., Richard H. Friedman, Barry A. Posner, Richard M. Smith and Stanley G. Rosenbaum (incorporated herein by reference to Exhibit 10.2 of BioScrip Inc.s Current Report on Form 8-K filed January 27, 2010). | |
99.3
|
Amended and Restated 2001 Incentive Stock Plan (incorporated herein by reference to BioScrip Inc.s definitive proxy statement for its 2003 annual meeting of stockholders filed April 30, 2003). | |
99.4
|
2008 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.1 of BioScrip Inc.s Registration Statement on Form S-8 filed May 16, 2008). | |
99.5
|
Form of Option Agreement for the Amended and Restated 2001 Incentive Stock Plan. | |
99.6
|
Form of Stock Option Agreement under the 2008 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.2 of BioScrip Inc.s Registration Statement on Form S-8 filed May 16, 2008). | |
99.7
|
Joint Filing Agreement, dated February 3, 2010, by and among Richard H. Friedman, Richard M. Smith, Barry A. Posner and Stanley G. Rosenbaum. |