Document:

Exhibit 10.2

 

 

JPMorgan Chase Bank, National Association

London Branch

25 Bank Street

Canary Wharf

London E14 5JP

England

 

	
 
    	
February 23,   2015
    

 

To:                             AMAG Pharmaceuticals, Inc.

1100 Winter Street

Waltham, Massachusetts 02451

Attention:                                         Mr. Frank E. Thomas: Executive Vice President, Chief Operating Officer

Telephone No.:             (617) 498-3377

Facsimile No.:                   (617) 588-0475

 

Re:                             Amendment to Warrants Transactions

 

This letter agreement (this “Amendment”) amends the terms and conditions of the transactions (the “Transactions”) evidenced by (i) the letter agreement re: Base Warrants between JPMorgan Chase Bank, National Association, London Branch (“Dealer”) and AMAG Pharmaceuticals, Inc. (“Company”) dated as of February 11, 2014 (as amended or modified prior to the date hereof, the “Base Confirmation”), and (ii) the letter agreement re: Additional Warrants between Dealer and Company dated as of February 13, 2014 (as amended or modified prior to the date hereof, the “Additional Confirmation” and together with the Base Confirmation, the “Confirmations”).

 

1.                                      Definitions.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Confirmations.

 

2.                                      Representations and Warranties.  Each party represents to the other party that:

 

(a)                                 it is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or incorporation;

 

(b)                                 it has the power to execute and deliver, and perform its obligations under, this Amendment, and has taken all necessary action to authorize such execution, delivery and performance;

 

(c)                                  such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;

 

(d)                                 all governmental and other consents that are required to have been obtained by it with respect to this Amendment have been obtained and are in full force and effect and all conditions of any such consents have been complied with;

 

(e)                                  its obligations under this Amendment constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at law)); and

 

JPMorgan Chase Bank, National Association

Organised under the laws of the United States as a National Banking Association.

Main Office 1111 Polaris Parkway, Columbus, Ohio 43240

Registered as a branch in England & Wales branch No. BR000746

Registered Branch Office 25 Bank Street, Canary Wharf, London E14 5JP

Authorised by the Office of the Comptroller of the Currency in the jurisdiction of the USA.

Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct

Authority and to limited regulation by the Prudential Regulation Authority. Details about the

extent of our regulation by the Prudential Regulation Authority are available from us on request.

 

 

(f)                                   each of it and its affiliates is not in possession of any material nonpublic information regarding Company or its common stock.

 

3.                                      Amendments.

 

(a)                                 Section 9(p)(i) in each of the Confirmations is hereby amended and restated as follows:

 

Notwithstanding any other provision of this Confirmation, the Agreement or the Equity Definitions, in no event will Company at any time be required to deliver a number of Shares greater than the Maximum Number of Shares to Dealer in connection with the Transaction, subject to the provisions regarding Deficit Shares in Section 9(p)(ii).  The “Maximum Number of Shares” shall be (x) prior to the Share Reservation Date (if any), 1.32 times the product of the Number of Warrants and the Warrant Entitlement, and (y) on and after the Share Reservation Date (if any), two times the product of the Number of Warrants and the Warrant Entitlement.  The “Share Reservation Date” (if any) shall be the first date on which Company has (x) held a meeting of its stockholders and obtained the requisite stockholder approvals for an amendment to the Restated Certificate of Incorporation of Company to increase the number of authorized and unissued Shares, or otherwise made available for this Transaction additional authorized and unissued shares, such that Company can reserve for issuance upon exercise and settlement or termination of the Transaction by all required corporate action of Company, a number of Shares equal to two times the product of the Number of Warrants and the Warrant Entitlement (the “Transaction Reservation Number”), and (y) reserved for issuance upon exercise and settlement or termination of the Transaction, by all required corporate action of Company, a number of Shares equal to the Transaction Reservation Number.  Promptly following the Share Reservation Date, Company shall notify Dealer in writing that the Share Reservation Date has occurred.

 

(b)                                 A new Section 9(h)(ii)(F) shall be added to each of the Confirmations which shall read as follows:

 

On any day during the period from and including the date hereof, to and including the earlier of (x) the final Expiration Date and (y) the Share Reservation Date (if any), (I) the Notional Unwind Shares (as defined below) as of such day exceeds a number of Shares equal to 60% of the Maximum Number of Shares, or (II) Company makes a public announcement of any transaction or event that, in the reasonable opinion of Dealer would, upon consummation of such transaction or upon the occurrence of such event, as applicable, and after giving effect to any applicable adjustments hereunder, cause the Notional Unwind Shares immediately following the consummation of such transaction or the occurrence of such event to exceed a number of Shares equal to 60% of the Maximum Number of Shares.  The “Notional Unwind Shares” as of any day is a number of Shares equal to (1) the amount that would be payable pursuant to Section 6 of the Agreement (determined as of such day as if an Early Termination Date had been designated in respect of the Transaction and as if the Company were the sole Affected Party and the Transaction were the sole Affected Transaction), divided by (2) the Settlement Price (determined as if such day were a Valuation Date).

 

4.                                      No Other Changes.  Except as expressly set forth herein, all of the terms and conditions of the Confirmations shall remain in full force and effect.

 

 

5.                                      No Reliance.  Each of Company and Dealer hereby confirms that it has relied on the advice of its own counsel and other advisors (to the extent it deems appropriate) with respect to any legal, tax, accounting, or regulatory consequences of this Amendment, that it has not relied on the other party or such other party’s affiliates in any respect in connection therewith, and that it will not hold the other party or such other party’s affiliates accountable for any such consequences.

 

6.                                      Role of Agent.  Each party agrees and acknowledges that (i) J.P. Morgan Securities LLC, an affiliate of Dealer (“JPMS”), has acted solely as agent and not as principal with respect to this Amendment and (ii) JPMS has no obligation or liability, by way of guaranty, endorsement or otherwise, in any manner in respect of this Amendment. Each party agrees it will look solely to the other party (or any guarantor in respect thereof) for performance of such other party’s obligations under this Amendment.

 

7.                                      Counterparts.   This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if all of the signatures thereto and hereto were upon the same instrument.

 

8.                                      Governing Law.  The provisions of this Amendment shall be governed by the laws of the State of New York law (without reference to choice of law doctrine).

 

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation and returning it to J.P. Morgan Securities LLC, 383 Madison Ave, New York, NY 10179, and by email to EDG_Notices@jpmorgan.com and EDG_NY_Corporate_Sales_Support@jpmorgan.com.

 

 

	
 
    	
 
    	
Very   truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
J.P. Morgan Securities LLC, as agent for
    
	
 
    	
 
    	
JPMorgan Chase Bank, National Association
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized   Signatory
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accepted   and confirmed
    	
 
    	
 
    
	
as   of the date set forth above:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
AMAG Pharmaceuticals, Inc.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Authorized   Signatory
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
					

 

JPMorgan Chase Bank, National Association

Organised under the laws of the United States as a National Banking Association.

Main Office 1111 Polaris Parkway, Columbus, Ohio 43240

Registered as a branch in England & Wales branch No. BR000746

Registered Branch Office 25 Bank Street, Canary Wharf, London E14 5JP

Authorised by the Office of the Comptroller of the Currency in the jurisdiction of the USA.

Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct

Authority and to limited regulation by the Prudential Regulation Authority. Details about the

extent of our regulation by the Prudential Regulation Authority are available from us on request.

 

[Signature Page to Amendment to Warrant Confirmation]Exhibit 10.4

 

Lunar Representative, LLC

c/o Shareholder Representative Services LLC

1614 15th Street, Suite 200

Denver, CO 80202

 

March 10, 2015

 

VIA FACSIMILE AND EMAIL

 

AMAG Pharmaceuticals, Inc.

1100 Winter Street

Waltham, MA 02451

Attention: General Counsel
 Facsimile: (617) 499-3361

 

Re: Extension of time to respond to the Closing Statement pursuant to the Merger Agreement (as defined below) and Change of Notice Provision

 

Ladies and Gentlemen:

 

Reference is made to (i) the Agreement and Plan of Merger, dated September 28, 2014, by and among Lumara Health, Inc. (the “Company”), Lunar Representative, LLC, in its capacity as the Stockholders’ Representative (the “Stockholders’ Representative”), AMAG Pharmaceuticals, Inc., (“Buyer”), and Snowbird, Inc. (as amended by that certain letter agreement dated November 12, 2014, among the Company, the Stockholders’ Representative and Buyer, the “Merger Agreement”) and (ii) that certain Closing Statement dated January 10, 2015, delivered by Buyer pursuant to Section 2.14(a) of the Merger Agreement.  Capitalized terms used and not defined herein shall have the meanings given to them in the Merger Agreement.

 

Section 2.14(b) of the Merger Agreement specifies that the Stockholders’ Representative will have sixty (60) days after receiving the Closing Statement (the “Initial Deadline”) to deliver written notice (a “Dispute Notice”) to Buyer setting forth the items disputed by the Stockholders’ Representative with respect to the Closing Statement.  Notwithstanding the foregoing or anything to the contrary in the Merger Agreement, including anything to the contrary in Section 2.14(b) of the Merger Agreement, the parties desire to extend the Initial Deadline for the Stockholders’ Representative to prepare and deliver the Dispute Notice to Buyer; and, accordingly, the parties hereby agree that the Stockholders’ Representative shall be required to prepare and deliver the Dispute Notice to Buyer prior to 11:59 p.m., New York City time, on Friday, April 10, 2015 instead of the Initial Deadline.  This paragraph shall be deemed to amend the Merger Agreement, including Section 2.14(b) of the Merger Agreement.  Except as expressly amended hereby, the Merger Agreement shall continue in full force and effect in accordance with the provisions thereof.

 

This letter also serves as Buyer’s designation in writing under Section 12.1 of the Merger Agreement that copies of notices to Buyer and/or the Surviving Corporation shall be given to Goodwin Procter LLP instead of Latham & Watkins LLP as follows:

 

Goodwin Procter LLP

Exchange Place

53 State Street

Boston, Massachusetts 02109

 

 

Attention: Stuart M. Cable (scable@goodwinprocter.com)

Facsimile: (617) 321-4402

 

This letter embodies the entire agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any and all prior and contemporaneous understandings, agreements, arrangements or representations by or among the parties hereto, written or oral, which may relate to the subject matter hereof in any way.  This letter will bind and inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.  This letter may be executed in any number of counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each party and delivered (by facsimile or otherwise) to the other party, it being understood that all parties need not sign the same counterpart. Any counterpart or other signature hereupon delivered by facsimile shall be deemed for all purposes as constituting good and valid execution and delivery of this letter by such party.  This letter shall be governed by and construed in accordance with the internal laws of the State of Delaware applicable to agreements made and to be performed entirely within such state, without regard to the conflicts of law principles of such State.  Except as set forth herein, the terms and provisions of the Merger Agreement will remain in full force and effect and are hereby ratified and confirmed. On or after the date of this letter, each reference in the Merger Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Merger Agreement shall mean and be a reference to the Merger Agreement as amended by this letter and this letter shall be deemed to be a part of the Merger Agreement.

 

[Signature page follows]

 

 

	
LUNAR REPRESENTATIVE, LLC
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Dave Ray
    	
 
    
	
Name:
    	
Dave Ray
    	
 
    
	
Title:
    	
Authorized Signatory
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Acknowledged and agreed:
    	
 
    
	
 
    	
 
    
	
AMAG PHARMACEUTICALS, INC.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Scott A. Holmes
    	
 
    
	
Name:
    	
Scott A. Holmes
    	
 
    
	
Title:
    	
SVP Finance and Treasurer
    	
 
    

 

[Signature page to Letter Extending Delivery of Response to Closing Statement]

 

 

CC: Via E-Mail

 

Latham & Watkins LLP

200 Clarendon Street

John Hancock Tower, 27th Floor

Boston, MA 02116

Attention: Johan Brigham (johan.brigham@lw.com) and Julie Scallen (julie.scallen@lw.com)

Facsimile: (617) 948-6001

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