SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13E-3
(Amendment No. 2)
RULE 13E-3 TRANSACTION STATEMENT UNDER SECTION 13(e)
OF THE SECURITIES EXCHANGE ACT OF 1934
NUVEI CORPORATION
NUVEI CORPORATION
(Name of the Issuer)
Nuvei Corporation
Neon Maple Purchaser Inc.
Neon Maple Holdings Inc.
Neon Maple Midco Inc.
Neon Maple Parent Inc.
Advent International, L.P.
Advent International GPE X Limited Partnership
AI Maple Aggregator, L.P.
AI Maple Holdings, L.P.
AI Maple Holdings GP Limited
Novacap Management Inc.
Caisse de dépôt et placement du Québec
Philip Fayer
Whiskey Papa Fox Inc.
(Name of Person(s) Filing Statement)
Subordinate Voting Shares, no par value
(Title of Class of Securities)
67079A102
(CUSIP Number of Class of Securities)
Lindsay Matthews Nuvei Corporation 1100 René-Lévesque Boulevard West, Suite 900 Montréal, Québec H3B 4N4 (514) 313-1190 |
Neon Maple Purchaser Inc. Neon Maple Holdings Inc. Neon Maple Midco Inc. Neon Maple Parent Inc. Advent International, L.P. Advent International GPE X Limited Partnership AI Maple Aggregator, L.P. AI Maple Holdings, L.P. AI Maple Holdings GP Limited Prudential Tower, 800 Boylston Street Boston, MA 02199-8069 Attention: Amanda McGrady Morrison (617) 951-9400 |
(Name, address, and telephone numbers of persons authorized to receive notices and communications on behalf of the persons filing statement)
Copies to:
Adam Givertz Ian Hazlett Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, NY 10019 (212) 373-3000 |
Evan Rosen Davis Polk & Wardwell LLP 450 Lexington Avenue New York, NY 10017 (212) 450-4000 |
Willard S. Boothby, P.C. Frances D. Dales Kirkland & Ellis LLP 601 Lexington Avenue New York, NY 10022 (212) 446-4800 |
This statement is filed in connection with (check the appropriate box):
☐ | The filing of solicitation materials or an information statement subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under the Securities Exchange Act of 1934. |
☐ | The filing of a registration statement under the Securities Act of 1933. |
☐ | A tender offer. |
☒ | None of the above. |
Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: ☐
Check the following box if the filing is a final amendment reporting the results of the transaction: ☐
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THIS TRANSACTION, PASSED UPON THE MERITS OR FAIRNESS OF THIS TRANSACTION, OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS TRANSACTION STATEMENT ON SCHEDULE 13E-3. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
INFORMATION REQUIRED BY SCHEDULE 13E-3
INTRODUCTION
This Amendment No. 2 to Schedule 13E-3 (together with the exhibits attached hereto (the Amended Transaction Statement)), which amends and supplements the Rule 13e-3 Transaction Statement on Schedule 13E-3 filed with the Securities and Exchange Commission (the SEC) on May 14, 2024 (the Initial Schedule 13E-3), as amended by Amendment No. 1 to Schedule 13E-3 filed with the SEC on June 4, 2024, is being filed with the SEC pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the Exchange Act), jointly by the following persons (each, a Filing Person, and collectively, the Filing Persons): (i) Nuvei Corporation, a corporation existing under the federal laws of Canada (Nuvei) and the issuer of the subordinate voting shares (the Subordinate Voting Shares) that is the subject of the Rule 13e-3 transaction, (ii) Neon Maple Purchaser Inc. (Purchaser), a corporation existing under the federal laws of Canada, (iii) Neon Maple Holdings Inc., an Ontario corporation and the parent company of the Purchaser (Holdings), (iv) Neon Maple Midco Inc., an Ontario corporation and the parent company of Holdings (Midco), (v) Neon Maple Parent Inc., an Ontario corporation and the parent company of Midco (Canada Parent), (vi) AI Maple Holdings, L.P., a Cayman Islands exempted limited partnership and the sole stockholder of Canada Parent (AI Maple Holdings), (vii) AI Maple Aggregator, L.P., a Cayman Islands exempted limited partnership and the sole limited partner of AI Maple Holdings (AI Maple Aggregator), (viii) AI Maple Holdings GP Limited, a Cayman Islands exempted company and the general partner of each of AI Maple Holdings and AI Maple Aggregator (AI Maple GP), (ix) Advent International GPE X Limited Partnership, a Cayman Islands exempted partnership and the sole member of AI Maple GP (AI GPE X), (x) Advent International, L.P., a Delaware limited partnership and the investment adviser to AI GPE X (Advent), (xi) Caisse de dépôt et placement du Québec (CDPQ), a legal person governed by an Act respecting the Caisse de dépôt et placement du Québec, (xii) Novacap Management Inc. (Novacap), a company incorporated under the laws of Canada and the general partner of certain investment funds and vehicles holding Multiple Voting Shares (as defined below), (xiii) Philip Fayer, and (xiv) Whiskey Papa Fox Inc., a corporation existing under the federal laws of Canada (together with CDPQ, Novacap and Mr. Fayer, each a Rollover Shareholder and, collectively, the Rollover Shareholders).
This Amended Transaction Statement relates to the plan of arrangement (the Plan of Arrangement), pursuant to Section 192 of the Canada Business Corporations Act, contemplated by an arrangement agreement between Purchaser and Nuvei, dated as of April 1, 2024 (the Arrangement Agreement), pursuant to which Purchaser will acquire all of the outstanding subordinate voting shares of Nuvei (Subordinate Voting Shares) and multiple voting shares of Nuvei (Multiple Voting Shares) that are not Rollover Shares (as defined in the Arrangement Agreement) for a price of US$34.00 per share, in cash. A copy of the Plan of Arrangement is included as Appendix B to the Management Proxy Circular, which is attached as Exhibit (a)(2)(i) hereto (the Circular). A special meeting of Nuveis shareholders has been called for June 18, 2024 (the Meeting) to approve a special resolution approving the Plan of Arrangement in the form attached as Appendix A to the Circular (the Arrangement Resolution). The Circular has been provided to Nuveis shareholders pursuant to applicable Canadian law.
Capitalized terms used but not defined in this Amended Transaction Statement shall have the meanings given to them in the Circular or the Initial Schedule 13E-3, as applicable.
Except as otherwise set forth herein, the information set forth in the Initial Schedule 13E-3 remains unchanged and is incorporated by reference into this Amended Transaction Statement. All information set forth in this Amended Transaction Statement should be read together with the information contained in or incorporated by reference in the Initial Schedule 13E-3.
All information contained in, or incorporated by reference into, this Amended Transaction Statement concerning each Filing Person has been supplied by such Filing Person, and no Filing Person is responsible for the accuracy or completeness of the information supplied by any other Filing Person.
ITEM 7. PURPOSES, ALTERNATIVES, REASONS AND EFFECTS.
(a) The following paragraph under Item 7(a) is hereby added:
The Purchaser Filing Parties did not establish, and did not consider, a going concern value for the Company as a public company to determine the fairness of the Consideration to the Companys unaffiliated security holders because, following the Arrangement, the Company will have a different ownership structure. To the extent the pre-acquisition going concern value was reflected in the price per Subordinate Voting Share on March 29, 2024, the last trading day prior to the public announcement of the Arrangement, the Consideration represents a premium to the going concern value of the Company.
ITEM 16. EXHIBITS.
* | Previously filed. |
[Remainder of Page Intentionally Left Blank]
SIGNATURES
After due inquiry and to the best of our knowledge and belief, the undersigned hereby certify that the information set forth in this statement is true, complete and correct.
Nuvei Corporation | ||||
Date: June 7, 2024 | By: | /s/ Lindsay Matthews | ||
Name: Lindsay Matthews | ||||
Title: General Counsel | ||||
Advent International, L.P. By: Advent International GP, LLC, General Partner | ||||
Date: June 7, 2024 | By: | /s/ Neil Crawford | ||
Name: Neil Crawford | ||||
Title: Vice President of FinanceFund Administration | ||||
Neon Maple Purchaser Inc. | ||||
Date: June 7, 2024 | By: | /s/ Ben Scotto | ||
Name: Ben Scotto | ||||
Title: President | ||||
Neon Maple Holdings Inc. | ||||
Date: June 7, 2024 | By: | /s/ Ben Scotto | ||
Name: Ben Scotto | ||||
Title: President | ||||
Neon Maple Midco Inc. | ||||
Date: June 7, 2024 | By: | /s/ Ben Scotto | ||
Name: Ben Scotto | ||||
Title: President | ||||
Neon Maple Parent Inc. | ||||
Date: June 7, 2024 | By: | /s/ Ben Scotto | ||
Name: Ben Scotto | ||||
Title: President | ||||
Advent International GPE X Limited Partnership By: GPE X GP Limited Partnership, General Partner By: Advent International GPE X, LLC, General Partner By: Advent International, L.P., Manager By: Advent International GP, LLC, General Manager | ||||
Date: June 7, 2024 | By: | /s/ Neil Crawford | ||
Name: Neil Crawford | ||||
Title: Vice President of FinanceFund Administration |
AI Maple Holdings, L.P. By: AI Maple Holdings GP Limited, General Partner | ||||
Date: June 7, 2024 | By: | /s/ Bo Huang | ||
Name: Bo Huang | ||||
Title: Director | ||||
AI Maple Aggregator, L.P. By: AI Maple Holdings GP Limited, General Partner | ||||
Date: June 7, 2024 | By: | /s/ Bo Huang | ||
Name: Bo Huang | ||||
Title: Director | ||||
AI Maple Holdings GP Limited | ||||
Date: June 7, 2024 | By: | /s/ Bo Huang | ||
Name: Bo Huang | ||||
Title: Director | ||||
Caisse de dépôt et placement du Québec | ||||
Date: June 7, 2024 | By: | /s/ Jacques Marchand | ||
Name: Jacques Marchand | ||||
Title: Vice President, Private Large Capitalizations Quebec | ||||
Date: June 7, 2024 | By: | /s/ Catherine Beauchemin | ||
Name: Catherine Beauchemin | ||||
Title: Senior Director, Private Equity, Quebec | ||||
Novacap Management Inc. | ||||
Date: June 7, 2024 | By: | /s/ Pascal Tremblay | ||
Name: Pascal Tremblay | ||||
Title: President and CEO, Managing Partner | ||||
Philip Fayer | ||||
Date: June 7, 2024 | By: | /s/ Philip Fayer | ||
Whiskey Papa Fox Inc. | ||||
Date: June 7, 2024 | By: | /s/ Philip Fayer | ||
Name: Philip Fayer | ||||
Title: President & Secretary |