On
July 5, 2013, Meade Instruments Corp. (the Company) filed a Solicitation/Recommendation Statement on Schedule 14D-9 (the Schedule 14D-9) with the Securities and Exchange Commission (SEC) announcing that its
Board of Directors, after careful consideration with its outside legal counsel, recommended that the Companys stockholders reject the offer (the MITC Offer) of VictoryOne Inc. (Purchaser), a wholly-owned subsidiary of
MIT Capital Inc., to acquire all of the outstanding shares of Meades common stock for $3.65 per share in cash and not tender their shares of common stock to Purchaser pursuant to the MITC Offer. The basis for the Boards recommendation is
set forth in Schedule 14D-9, which is included as Exhibit 99.1 to this report, and is incorporated by reference.
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The Board also reaffirmed its recommendation that the Companys stockholders vote in
favor of the adoption of the merger agreement with JOC North America LLC (JOC) that is described in the Current Report on Form 8-K that the Company filed with the SEC on May 17, 2013. Under the merger agreement with JOC, JOC will
acquire all of the outstanding shares of the Companys common stock for cash consideration of $3.45 per share.
The
foregoing matters were also included in a press release issued by the Company today, and such press release is included as Exhibit 99.2 to this report and is incorporated by reference.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. One can identify these forward-looking statements by the use of
the words such as expect, anticipate, plan, may, will, estimate or other similar expressions. Because such statements apply to future events, they are subject to risks and
uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual results to differ materially, including, without limitation: the ability to obtain regulatory approvals of the JOC acquisition on the
proposed terms and schedule; the failure of the Companys stockholders to approve the JOC acquisition; the risk that the JOC acquisition may not be completed in the time frame expected by the parties or at all; the parties ability to
satisfy the closing conditions and consummate the JOC transaction; and the Companys ability to maintain existing relationships with customers, employees or suppliers. Additional factors that may affect future results are described in the
Companys reports on Form 10-K and Form 10-Q filed with the SEC.
All forward-looking statements speak only as of the
date they were made. Neither of the Company, nor any of its affiliates undertakes any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date
of this Form 8-K.
Additional Information
In connection with the proposed merger with a wholly-owned subsidiary of JOC (the JOC merger), the Company will file a definitive proxy statement and other relevant documents concerning the
proposed transaction with the SEC. The definitive proxy statement and other materials filed with the SEC will contain important information regarding the JOC Merger, including, among other things, the recommendation of the Companys board of
directors with respect to the JOC Merger. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS THAT THE COMPANY FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE JOC
MERGER AND RELATED MATTERS. You will be able to obtain the proxy statement, as well as other filings containing information about the Company, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of the proxy statement and
other filings made by the Company with the SEC can also be obtained, free of charge, by directing a request to Meade Instruments Corp., 27 Hubble, Irvine, CA 92618, Attention: Corporate Secretary.
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Participants in the Solicitation
The directors and executive officers of the Company and other persons may be deemed to be participants in the solicitation of proxies in
respect of the JOC merger. Information regarding the Companys directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on May 30, 2013. Other information regarding the participants in the proxy
solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Investors should
read the proxy statement carefully when it becomes available before making any voting or investment decisions.
Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description of Exhibit
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99.1
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Solicitation/Recommendation Statement on Schedule 14D-9 (incorporated by reference in its entirety as filed by the Company with the Securities and Exchange Commission on
July 5, 2013)
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99.2
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Press Release dated July 5, 2013 (incorporated by reference to Exhibit (a)(2) of the Solicitation/Recommendation Statement on Schedule 14D-9 filed by the Company with the Securities
and Exchange Commission on July 5, 2013)
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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.
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MEADE INSTRUMENTS CORP
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Date: July 5, 2013
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By:
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/s/ John A. Elwood
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Name: John A. Elwood
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Title: Chief Financial Officer
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INDEX OF EXHIBITS
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Exhibit No.
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Description of Exhibit
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99.1
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Solicitation/Recommendation Statement on Schedule 14D-9 (incorporated by reference in its entirety as filed by the Company with the Securities and Exchange Commission on
July 5, 2013)
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99.2
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Press Release dated July 5, 2013 (Incorporated by reference to Exhibit (a)(2) of the Solicitation/Recommendation Statement on Schedule 14D-9 filed by the Company with the Securities
and Exchange Commission on July 5, 2013)
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