# EDGAR Filing Document

**Accession Number:** 0001068875
**File Stem:** 0001839882-23-002930
**Filing Date:** 2023-2
**Character Count:** 15839
**Document Hash:** a21872865ccdb7ae6d368c0afc5686d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001839882-23-002930.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001839882-23-002930

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

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AVANTAX, INC.
- **CENTRAL INDEX KEY:** 0001068875
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 911718107
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-55807
- **FILM NUMBER:** 23587081

**BUSINESS ADDRESS:**
- **STREET 1:** 3200 OLYMPUS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75019
- **BUSINESS PHONE:** 972-870-6000

**MAIL ADDRESS:**
- **STREET 1:** 3200 OLYMPUS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLUCORA, INC.
- **DATE OF NAME CHANGE:** 20120605

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INFOSPACE INC
- **DATE OF NAME CHANGE:** 20000428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INFOSPACE COM INC
- **DATE OF NAME CHANGE:** 19980824
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AVANTAX, INC.
- **CENTRAL INDEX KEY:** 0001068875
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 911718107
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 3200 OLYMPUS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75019
- **BUSINESS PHONE:** 972-870-6000

**MAIL ADDRESS:**
- **STREET 1:** 3200 OLYMPUS BLVD.
- **STREET 2:** SUITE 100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLUCORA, INC.
- **DATE OF NAME CHANGE:** 20120605

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INFOSPACE INC
- **DATE OF NAME CHANGE:** 20000428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INFOSPACE COM INC
- **DATE OF NAME CHANGE:** 19980824

**As filed with the Securities and Exchange Commission on February 3, 2023**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE TO**

**Tender Offer Statement under Section 14(d)(1) or 13(e)(1)<br> of the Securities Exchange Act of 1934**

**(Amendment No. 1)**

**Avantax, Inc.**

**(Name of Subject Company (Issuer))**

**Avantax, Inc.**

**(Names of filing Persons (Offeror and Issuer))**

**Common Stock, par value $0.0001 per share<br> (Title of Class of Securities)<br> 095229100<br> (CUSIP Number of Class of Securities)<br> (Underlying Common Stock)**

**Tabitha Bailey<br> Chief Legal Officer and Corporate Secretary<br> Avantax, Inc.<br> 3200 Olympus Blvd, Suite 100<br> Dallas, Texas 75019<br> Tel: (972) 870-6400**

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

***Copies to:*<br> Beth E. Berg<br> Sidley Austin LLP<br> One South Dearborn<br> Chicago, Illinois 60603<br> (312) 853-7443**

☐ 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: ☐

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

☐ Rule 13e-4(i) (Cross-Border Issuer Tender Offer)

☐ Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

**SCHEDULE TO**

This Amendment No. 1 (this "***Amendment No. 1***") amends and supplements the Tender Offer Statement on Schedule TO originally filed with the Securities and Exchange Commission on January 27, 2023 (the "***Schedule TO***"), related to the offer by Avantax, Inc., a Delaware corporation formerly known as Blucora, Inc. (the "***Company***"), to purchase for cash up to $250,000,000 of its common stock, par value $0.0001 per share (the "***shares***"), at a price per share of not less than $27.00 and not more than $31.00 in cash, without interest and subject to any applicable withholding taxes. The Company's offer is made upon the terms and subject to the conditions described in the Offer to Purchase, dated January 27, 2023 (as amended or supplemented from time to time, the "***Offer to Purchase***"), a copy of which was filed as Exhibit (a)(1)(i) to the Schedule TO, and in the accompanying Letter of Transmittal (as amended or supplemented from time to time, the "***Letter of Transmittal***" and, together with the Offer to Purchase, the "***tender offer***"), a copy of which was attached as Exhibit (a)(1)(ii) to the Schedule TO.

Except as specifically provided herein, the information contained in the Schedule TO remains unchanged and this Amendment No. 1 does not modify any of the information previously reported on the Schedule TO. You should read this Amendment No. 1 together with the tender offer.

<u>Amendments to Exhibit (a)(1)(i)</u>

**Item 4. Terms of the Transaction.**

The information set forth in Item 4 is hereby amended and supplemented by the following:

(1) The third sentence of the first paragraph on page 28 of the Offer to Purchase is hereby deleted in its entirety.

**I** **tem 7. Source and Amount of Funds or other Consideration.**

The information set forth in Item 7 is hereby amended and supplemented by the following:

(1) The information on page 28 of the Offer to Purchase is hereby amended and supplemented to add the following two paragraphs immediately
following the first paragraph on page 28:

We do not have any current plans to refinance any indebtedness under the Delayed Draw Term Loan Facility, but we plan to regularly consider whether to refinance such indebtedness based on our results of operations, financial condition, liquidity and prevailing market conditions.

There is no financing condition to the tender offer, although the tender offer is subject to certain other conditions. See Section 7.

**Item 9. Persons/Assets, Retained, Employed, Compensated or Used.**

The information set forth in Item 9 is hereby amended and supplemented by the following:

(1) The information in the first paragraph on page 43 of the Offer to Purchase is hereby amended
and supplemented in order to add the following sentence as the final sentence of such paragraph:

Specifically, and assuming the tender offer is fully subscribed, we expect that the aggregate of all fees and expenses related to the tender offer will be approximately $1,750,000. These fees and expenses include amounts payable to the Dealer Managers and their and our respective counsel, the Depositary, the Information Agent and expenses associated with financial printing.

**Item 11. Additional Information.**

The information set forth in Item 11 is hereby amended and supplemented by the following:

(1) The first sentence on page 10 of the Offer to Purchase is hereby deleted in its entirety and replaced with the following:

This Offer to Purchase and the documents incorporated by reference into this Offer to Purchase contain certain "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended (the "***Securities Act***"), and Section 21E of the Exchange Act.

(2) The information in the second paragraph on page 30 of the Offer to Purchase is hereby amended
and supplemented to delete the second sentence following the sub-caption "*Incorporation by Reference*" in such paragraph
and to include in its place the following two sentences:

Any information incorporated this way is considered to be part of this Offer to Purchase. Any statement contained in any document incorporated into this Offer to Purchase will be deemed to be modified or superseded for purposes of this Offer to Purchase to the extent that a statement contained in this Offer to Purchase or any subsequently filed document that is incorporated by reference into this Offer to Purchase modifies or supersedes the statement.

(3) The information in the second paragraph on page 30 of the Offer to Purchase is further hereby
amended and supplemented to delete the word "and" opposite "Current Reports on Form 8-K" and to replace it with
"," and to add "and January 27, 2023" immediately following "January 26, 2023."

**SIGNATURES**

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 3, 2023

**AVANTAX, INC.**

By: <u>/s/ Tabitha Bailey</u> <br> Name: Tabitha Bailey<br> Title: Chief Legal Officer and Corporate Secretary<br>

## Corresp

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|:---|:---|
| ![PPT_Sidley Austin LLP.gif](avta-001.jpg) | SIDLEY AUSTIN LLP<br> 787 SEVENTH AVENUE<br> NEW YORK, NY 10019<br> +1 212 839 5300<br> +1 212 839 5599 FAX<br>AMERICA • ASIA PACIFIC • EUROPE |

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February 3, 2023

<u>Via EDGAR and Email</u>

United States Securities and Exchange Commission

Division of Corporation Finance

Office of Mergers & Acquisitions

100 F Street, N.E.

Washington, D.C. 20549

Attention: Mr. Michael Killoy and Christina Chalk

**Re:** 

**Avantax, Inc.**

**Schedule TO-I filed on January 27, 2023** 

**File No. 005-55807**

Ladies and Gentlemen:

On behalf of our client, Avantax, Inc. (the "***Company***"), we hereby acknowledge receipt of the comment letter dated February 1, 2023 (the "***Comment Letter***") from the staff (the "***Staff***") of the U.S. Securities and Exchange Commission concerning the above captioned Schedule TO-I (the "***Schedule TO-I***").

We submit this letter in response to the Comment Letter on behalf of the Company. For ease of reference, we have reproduced the text of the Staff's comment in bold-face type below, followed by the Company's response. Unless otherwise noted, page number references herein refer to Exhibit (a)(1)(i) to the Schedule TO-I, which is the Offer to Purchase.

The Company has today filed, via EDGAR, an amendment to Schedule TO-I ("***Amendment No. 1***") together with this response letter.

**<u>Responses to Staff Comments on Schedule TO-I</u>**

<u>Cautionary Note Regarding Forward-Looking Statements, page 10</u>

Securities and Exchange Commission

Division of Corporation Finance

Office of Mergers and Acquisitions

February 3, 2023

*Response*: In response to the Staff's comment, the Company will amend the disclosure on page 10 of the Offer to Purchase by replacing the first sentence on page 10 with the following:

"This Offer to Purchase and the documents incorporated by reference into this Offer to Purchase contain certain "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended (the "***Securities Act***"), and Section 21E of the Exchange Act."

<u>Conditions of the Tender Offer, page 28</u>

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **Refer to the following statement in the first paragraph on page 28: "Our failure at any time to exercise any of the foregoing rights will not be deemed a waiver of any right, and each such right will be deemed an ongoing right that may be asserted at any time prior to the Expiration Time." When an event occurs that implicates an offer condition, the bidder must promptly notify target security holders whether it will waive the condition or proceed with the offer, or assert the condition and terminate. This statement implies that Avantax is not under an obligation to advise security holders what it will do when such event occurs. Please revise.** 

*Response*: In response to the Staff's comment, the Company will amend the disclosure on page 28 of the Offer to Purchase by deleting in its entirety the third sentence of the first paragraph on page 28.

<u>Source and Amount of Funds, page 28</u>

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Revise to provide the disclosure required by Item 7 of Schedule TO and Item 1007(d)(2) of Regulation M-A as to the funds being used to purchase tendered shares.** 

*Response*: In response to the Staff's comment, the Company will amend the disclosure on page 28 of the Offer to Purchase by adding the following two paragraphs immediately following the first paragraph on page 28:

"We do not have any current plans to refinance any indebtedness under the Delayed Draw Term Loan Facility, but we plan to regularly consider whether to refinance such indebtedness based on our results of operations, financial condition, liquidity and prevailing market conditions.

![PPT_Sidley Austin LLP.gif](avta-002.jpg)

Securities and Exchange Commission

Division of Corporation Finance

Office of Mergers and Acquisitions

February 3, 2023

There is no financing condition to the tender offer, although the tender offer is subject to certain other conditions. See Section 7."

<u>Certain Information Concerning Us, page 29</u>

&nbsp;&nbsp;&nbsp;&nbsp;**4.** **We note your disclosure that "any information that we file later with the SEC will automatically update and, in some cases, supersede the information herein." Schedule TO does not expressly authorize such apparent "forward incorporation by reference." Rather, General Instruction F specifies how you may incorporate by reference in a Schedule TO. Please revise.** 

*Response*: In response to the Staff's comment, the Company will amend the disclosure on page 30 of the Offer to Purchase by deleting the second sentence following the sub-caption "*Incorporation by Reference*" in such paragraph in its entirety and including in its place the following two sentences:

"Any information incorporated this way is considered to be part of this Offer to Purchase. Any statement contained in any document incorporated into this Offer to Purchase will be deemed to be modified or superseded for purposes of this Offer to Purchase to the extent that a statement contained in this Offer to Purchase or any subsequently filed document that is incorporated by reference into this Offer to Purchase modifies or supersedes the statement."

<u>Fees and Expenses, page 43</u>

&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Please provide a reasonably-detailed list of expenses incurred or expected to be incurred in connection with the tender offer. See Item 7 of Schedule TO and Item 1007(c) of Regulation M-A.** 

*Response*: In response to the Staff's comment, the Company will amend the disclosure on page 43 of the Offer to Purchase by amending the first paragraph on page 43 to add the following sentence as the final sentence of such paragraph:

"Specifically, and assuming the tender offer is fully subscribed, we expect that the aggregate of all fees and expenses related to the tender offer will be approximately $1,750,000. These fees and expenses include amounts payable to the Dealer Managers and their and our respective counsel, the Depositary, the Information Agent and expenses associated with financial printing."

\* \* \*

![PPT_Sidley Austin LLP.gif](avta-002.jpg)

Securities and Exchange Commission

Division of Corporation Finance

Office of Mergers and Acquisitions

February 3, 2023

The Company acknowledges that the Staff may have additional comments after reviewing this response letter.

We appreciate your assistance in reviewing this response letter. Please direct any questions or comments regarding this filing to me at (312) 853-7443 or bberg@sidley.com.

Sincerely,

<u>/s/ Beth E. Berg</u> 

Beth E. Berg, Esq.

Sidley Austin LLP

cc:

Robert Mandell, Esq.

Sidley Austin LLP