# EDGAR Filing Document

**Accession Number:** 0001637655
**File Stem:** 0001193125-23-027109
**Filing Date:** 2023-2
**Character Count:** 15573
**Document Hash:** 0c63c8c66382fae2b3c19d9e746aab63
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-027109.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001193125-23-027109

**CONFORMED SUBMISSION TYPE**: SC TO-T/A

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Horizon Global Corp
- **CENTRAL INDEX KEY:** 0001637655
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 473574483
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-T/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-88963
- **FILM NUMBER:** 23596140

**BUSINESS ADDRESS:**
- **STREET 1:** 47912 HALYARD DRIVE
- **STREET 2:** SUITE 100
- **CITY:** PLYMOUTH
- **STATE:** MI
- **ZIP:** 48170
- **BUSINESS PHONE:** 7346563000

**MAIL ADDRESS:**
- **STREET 1:** 47912 HALYARD DRIVE
- **STREET 2:** SUITE 100
- **CITY:** PLYMOUTH
- **STATE:** MI
- **ZIP:** 48170
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Brands Group, LLC
- **CENTRAL INDEX KEY:** 0001960811
- **IRS NUMBER:** 462872032

**FILING VALUES:**
- **FORM TYPE:** SC TO-T/A

**BUSINESS ADDRESS:**
- **STREET 1:** 127 PUBLIC SQUARE
- **STREET 2:** SUITE 5300
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44114
- **BUSINESS PHONE:** (216) 302-2590

**MAIL ADDRESS:**
- **STREET 1:** 127 PUBLIC SQUARE
- **STREET 2:** SUITE 5300
- **CITY:** CLEVELAND
- **STATE:** OH
- **ZIP:** 44114

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**SCHEDULE TO/A** 

**(Rule 14d-100)**

**TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) or 13(e)(1)** 

**OF THE SECURITIES EXCHANGE ACT OF 1934** 

**(Amendment No. 2)** 

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## HORIZON GLOBAL CORPORATION
**(Name of Subject Company (Issuer))** 

**PHX MERGER SUB, INC.** 

**(Name of Filing Persons (Offeror)) a wholly-owned subsidiary of** 

**FIRST BRANDS GROUP, LLC** 

**(Name of Filing Persons (Parent of Offeror))** 

**Common Stock, par value $0.01 Per Share** 

**Series B Preferred Stock, par value $0.01 Per Share** 

**(Title of Class of Securities)** 

**44052W104** 

**(CUSIP Number of Class of Securities)** 

**Stephen Graham** 

**Michael Baker** 

**PHX Merger Sub, Inc.** 

**First Brands Group, LLC** 

**127 Public Square, Suite 5300** 

**Cleveland, OH 44114** 

**(216) 302-2590**

**(Name, address and telephone number of person authorized to receive notices and communications on behalf of filing person)** 

***Copy to:***

**Jonathan E. Kellner** 

**Carl Sanchez** 

**Joseph Swanson** 

**Paul Hastings LLP** 

**200 Park Avenue** 

**New York, NY 10166**

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☒ Check the 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: $12,387.94 | Filing party: | First Brands Group, LLC and PHX Merger Sub, Inc. |
| Form or Registration No.: Schedule TO | Date filed: | January 10, 2023 |

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☐ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

☒ third party tender offer subject to Rule 14d-1.

☐ issuer tender offer subject to Rule 13e-4.

☐ going-private transaction subject to Rule 13e-3.

☐ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer. ☒

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**INTRODUCTION** 

This Amendment No. 2 to Schedule TO (this "Amendment") is filed by First Brands Group, LLC ("Parent"), a Delaware limited liability company, and PHX Merger Sub, Inc. (the "Purchaser"), a Delaware corporation and wholly-owned subsidiary of Parent, and amends and supplements the Tender Offer Statement on Schedule TO filed with the United States Securities and Exchange Commission on January 10, 2023, (together with any amendments and supplements thereto, the "Schedule TO") by Parent and Purchaser. This Amendment relates to the offer by Purchaser to purchase all of the outstanding shares of common stock, par value $0.01 per share (the "Common Stock"), and all of the outstanding shares of Series B Preferred Stock, par value $0.01 per share (the "Preferred Stock" and together with the Common Stock, the "Shares") of Horizon Global Corporation, a Delaware corporation ("Horizon"), at a price of $1.75 per share of Common Stock and an amount equal to the Redemption Price (as defined in the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation incorporated herein by reference to Exhibit (d)(3) to Amendment No. 1 to the Schedule TO filed by Parent and Purchaser with the SEC on January 20, 2023) per share of Preferred Stock calculated as of the Acceptance Time, in each case, net to the seller in cash, without interest thereon and less any applicable withholding taxes, upon the terms and conditions set forth in the offer to purchase dated January 9, 2023 (together with any amendments and supplements thereto, the "Offer to Purchase"), and in the related letter of transmittal (together with any amendments and supplements thereto, the "Letter of Transmittal"), which, together with any other related materials, as each may be amended or supplemented from time to time, collectively constitute the "Offer." This Amendment is being filed on behalf of Parent and Purchaser.

Except as otherwise set forth in this Amendment, the information set forth in the Schedule TO and the Offer to Purchase, as each may be amended or supplemented from time to time (including all schedules thereto), remains unchanged and is incorporated herein by reference to the extent relevant to the matters set forth in this Amendment. Capitalized terms used but not defined in this Amendment have the meanings given to them in the Offer to Purchase. This Amendment should be read together with the Schedule TO.

*Items 1 through 9 and Item 11* 

The information set forth in the Offer to Purchase and in items 1 through 9 and Item 11 of the Schedule TO is hereby amended and supplemented to include the following:

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"The Offer expired one minute after 11:59 P.M., Eastern Time, on February 6, 2023 (such time and date, the "Expiration Time"). The Depository Agent has advised Parent that, as of the Expiration Time, 100% of the Preferred Stock was validly tendered and not withdrawn pursuant to the Offer, and 25,727,921 shares of Common Stock were validly tendered and not withdrawn pursuant to the Offer which represent approximately 92.77% of the shares of Common Stock outstanding as of the expiration of the Offer. Accordingly, the Minimum Tender Condition has been satisfied and all other Offer Conditions were satisfied or waived.

Purchaser expects to promptly accept for payment, on February 8, 2023, all Shares validly tendered and not validly withdrawn pursuant to the Offer. Purchaser will promptly pay for all Shares accepted pursuant to the Offer. Parent expects the Merger to close on February 8, 2023, promptly following the acceptance of all Shares validly tendered and not validly withdrawn pursuant to the Offer, with Purchaser merging with and into Horizon, with Horizon continuing as the surviving corporation and a wholly owned subsidiary of Parent.

On February 7, 2023, Parent issued a press release announcing the expiration and results of the Offer. The full text of the press release is attached as Exhibit (a)(5)(B) hereto and is incorporated herein by reference."

*Item 12* 

Item 12 is hereby amended and supplemented by adding the following exhibit:

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| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
|  (a)(5)(B) | [Press Release issued by Parent and Horizon on February 7, 2023 announcing the expiration and results of the Offer.](d449122dex99a5b.htm) |

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**SIGNATURES** 

After due inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: February 7, 2023

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| | |
|:---|:---|
| **FIRST BRANDS GROUP, LLC** | **FIRST BRANDS GROUP, LLC** |
| By: | /s/ Michael Baker |
| Name: | Michael Baker |
| Title: | Chief Corporate Strategy Officer |
| **PHX MERGER SUB, INC.** | **PHX MERGER SUB, INC.** |
| By: | /s/ Michael Baker |
| Name: | Michael Baker |
| Title: | Chief Corporate Strategy Officer |

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## Ex-99.(A)(5)(B)

**Exhibit (a)(5)(B)** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g449122g0208025412133.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g449122g0208025411909.jpg)  |

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**FOR IMMEDIATE RELEASE** 

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| | |
|:---|:---|
| **CONTACT**: | Michael Baker, Chief Corporate Strategy Officer |
|  | First Brands Group, LLC |
|  | (216) 302-2590 |
|  | Michael.Baker@firstbrandsgroup.com |
|  | Matthew Meyer |
|  | Horizon Global Corporation |
|  | Chief Accounting Officer |
|  | (734) 656-3000 |
|  | ir@horizonglobal.com |

---

**FIRST BRANDS GROUP AND HORIZON GLOBAL CORPORATION ANNOUNCE EXPIRATION OF TENDER OFFER** 

**Plymouth, Michigan, February 7, 2023** - First Brands Group, LLC ("First Brands") and Horizon Global Corporation ("Horizon Global") today announced that First Brands' tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global (NYSE: HZN) at a price of $1.75 per share (the "Common Stock Offer Price"), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisition of Horizon Global (the "Preferred Stock Offer Price") (the Common Stock Offer Price and the Preferred Stock Offer Price are referred to herein as the "Offer Price") subject to any required withholding of taxes, net to the seller in cash without interest, expired one minute after 11:59 p.m. Eastern Time on Monday, February 6, 2023.

First Brands and Horizon Global expect the transaction to close on February 8, 2023, promptly following the acceptance of all shares of preferred stock and common stock validly tendered and not validly withdrawn in the tender offer.

**<u>Additional Transaction Details</u>**

The depository agent for the tender offer has advised that, as of the expiration of the tender offer, 100% of the shares of Horizon Global's preferred stock were validly tendered and not withdrawn, and a total of 25,727,921 shares of Horizon Global's common stock were validly tendered and not withdrawn. Such shares of Horizon Global's common stock represent approximately 92.77% of the shares of common stock issued and outstanding as of the expiration of the offer, which satisfied the minimum tender condition.

**<u>Forward Looking Statements</u>**

This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made and give our current expectations or forecasts of future events. These forward-looking statements can be identified by the use of forward-looking words, such as "may," "could," "should," "estimate," "project," "forecast," "intend," "expect," "anticipate," "believe," "target," "plan" or other comparable words, or by discussions of strategy that may involve risks and uncertainties.

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These forward-looking statements are subject to numerous assumptions, risks and uncertainties which could materially affect our business, financial condition or future results including, but not limited to, risks and uncertainties with respect to: statements about the expected timetable for completing the transaction; First Brands' and Horizon Global's beliefs and expectations and statements about the benefits sought to be achieved in the proposed acquisition of Horizon Global, the potential effects of the acquisition on both First Brands and Horizon Global; the impact of the COVID-19 pandemic on Horizon Global's business, results of operations, financial condition and liquidity, including, without limitation, supply chain and logistics issues and inflationary pressures; interest rate volatility; liabilities and restrictions imposed by Horizon Global's debt instruments, market demand; competitive factors; supply constraints and shipping disruptions; material, logistics and energy costs, including the increased material costs resulting from the COVID-19 pandemic; inflation and deflation rates; the impact the conflict between Russia and Ukraine has on our business, financial condition or future results, including the duration and scope of such conflict, its impact on disruptions and inefficiencies in our supply chain and our ability to procure certain raw materials, as well as on our energy supply in Europe; technology factors; litigation; government and regulatory actions including the impact of any tariffs, quotas, or surcharges; Horizon Global's accounting policies; future trends; general economic and currency conditions, including recessionary conditions and volatile interest rates; various conditions specific to Horizon Global's business and industry; the success of Horizon Global's action plan, including the actual amount of savings and timing thereof; the success of Horizon Global's business improvement initiatives in Europe-Africa, including the amount of savings and timing thereof; Horizon Global's exposure to product liability claims from customers and end users, and the costs associated therewith; factors affecting Horizon Global's business that are outside of its control, including natural disasters and severe weather conditions (including those caused by climate change), global health pandemics, accidents and governmental actions; and other risks that are discussed in Part I, Item 1A, "Risk Factors" in Horizon Global's Annual Report on Form 10-K for the twelve months ended December 31, 2021 and Part II, Item 1A, "Risk Factors" in Horizon Global's subsequent Quarterly Reports on Form 10-Q. The risks described in Horizon Global's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q are not the only risks facing Horizon Global. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows.

The cautionary statements set forth above should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect Horizon Global. We do not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as otherwise required by law.

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