UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 16, 2016
Wolverine World Wide, Inc.
(Exact Name of Registrant as
Specified in its Charter)
Delaware |
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001-06024 |
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38-1185150 |
9341 Courtland Drive N.E. |
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49351 |
Registrants telephone number, including area code: (616) 866-5500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On August 16, 2016, Wolverine World Wide, Inc. (the Company) announced the pricing of its offering of $250 million in aggregate principal amount of 5.000% Senior Notes due 2026 in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the 144A Offering). The Company intends to use the net proceeds from the 144A Offering, together with borrowings under its senior credit facility and cash on hand, to fund the redemption of its outstanding 6.125% Senior Notes due 2020, and pay related fees and expenses.
A copy of the press release announcing the 144A Offering is being filed as Exhibit 99.1 herewith.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits:
99.1 Press release, dated August 16, 2016, announcing the pricing of the 144A Offering.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 16, 2016 |
WOLVERINE WORLD WIDE, INC. |
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/s/ Brendan M. Gibbons |
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Brendan M. Gibbons |
EXHIBIT INDEX
Exhibit Number |
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Document |
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99.1 |
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Press release, dated August 16, 2016, announcing the pricing of the 144A Offering. |
Exhibit 99.1
WOLVERINE WORLDWIDE 9341 Courtland Drive N.E., Rockford, MI 49351 Phone (616) 866-5500; Fax (616) 866-0257
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FOR IMMEDIATE RELEASE (616) 866-5728 |
Wolverine Worldwide Announces
Pricing of Senior Notes
ROCKFORD, Mich., August 16, 2016 /PRNewswire/ Wolverine World Wide, Inc. (NYSE: WWW) (the Company) today announced the pricing of its offering of $250 million aggregate principal amount of 5.000% Senior Notes due 2026 (the Notes). The Company intends to use the net proceeds from the offering, together with borrowings under its senior credit facility and cash on hand, to fund the redemption of its outstanding 6.125% Senior Notes due 2020, and pay related fees and expenses. The Notes will be guaranteed by certain of the Companys domestic subsidiaries. The offering is expected to close on August 30, 2016.
The Notes and related guarantees will be offered only to persons believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In addition, this press release does not constitute a notice of redemption with respect to the existing notes. Any such notice of redemption will be separately issued by the Company when and if the existing notes are called for redemption. This press release is being issued pursuant to, and in accordance with, Rule 135c under the Securities Act.
This press release contains forward-looking statements. In addition, words such as guidance, estimates, anticipates, believes, forecasts, step, plans, predicts, projects, is likely, expects, intends, should, will, confident, variations of such words, and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions (Risk Factors) that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence. Risk Factors include, among others: changes in general economic conditions, employment rates, business conditions, interest rates, tax policies and other factors affecting consumer spending in the markets and regions in which the Companys products are sold; the inability for any reason to effectively compete in global footwear, apparel and consumer-direct markets; the inability to maintain positive brand images and anticipate, understand and respond to changing footwear and apparel trends and consumer preferences; the inability to effectively manage inventory levels; increases or changes in duties, tariffs, quotas or applicable assessments in countries of import and export; currency fluctuations; currency restrictions; capacity constraints, production disruptions, quality issues, price increases or other risks associated with foreign sourcing; the cost and availability of raw materials, inventories, services and labor for owned and contract manufacturers; labor disruptions; changes in relationships with, including the loss of, significant wholesale customers; the failure of the U.S. Department of Defense to exercise future purchase options or award new contracts, or the cancellation or modification of existing contracts by the Department of Defense or other military purchasers; risks related to the significant investment in, and performance of, the
Companys consumer-direct operations; risks related to the expanding into new markets and complementary product categories as well as consumer-direct operations; the impact of seasonality and unpredictable weather conditions; changes in general economic conditions and/or the credit markets on the Companys distributors, suppliers and customers; increase in the Companys effective tax rates; failure of licensees or distributors to meet planned annual sales goals or to make timely payments to the Company; the risks of doing business in developing countries, and politically or economically volatile areas; the ability to secure and protect owned intellectual property or use licensed intellectual property; the impact of regulation, regulatory and legal proceedings and legal compliance risks; the potential breach of the Companys databases, or those of its vendors, which contain certain personal information or payment card data; problems affecting the Companys distribution system, including service interruptions at shipping and receiving ports; strategic actions, including new initiatives and ventures, acquisitions and dispositions, and the Companys success in integrating acquired businesses, and implementing new initiatives and ventures; the risk of impairment to goodwill and other acquired intangibles; the success of the Companys consumer-direct realignment initiatives; changes in future pension funding requirements and pension expenses; and additional factors discussed in the Companys reports filed with the Securities and Exchange Commission and exhibits thereto. The foregoing Risk Factors, as well as other existing Risk Factors and new Risk Factors that emerge from time to time, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Furthermore, the Company undertakes no obligation to update, amend, or clarify forward-looking statements.
SOURCE Wolverine Worldwide