sv3asr
As filed with the Securities and Exchange Commission on February 13, 2009
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-3
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
HILL-ROM HOLDINGS, INC.
(Exact name of Registrant as specified in its charter)
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Indiana
(State or other jurisdiction of
incorporation or organization)
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35-1160484
(I.R.S. Employer
Identification No.) |
1069 State Route 46 East
Batesville, Indiana 47006
(812) 934-7777
(Address including zip code and telephone number, including area code, of registrants principal executive offices)
Patrick D. de Maynadier
Senior Vice President, General Counsel and Secretary
Hill-Rom Holdings, Inc.
1069 State Route 46 East
Batesville, Indiana 47006
(812) 934-7777
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copy to:
Charles H. Still, Jr.
Bracewell & Giuliani LLP
711 Louisiana Street, Suite 2300
Houston, Texas 77002-2770
(713) 221-3309
Approximate date of commencement of proposed sale to the public: From time to time after
the effective date of this Registration Statement.
If the only securities being registered on this Form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. o
If any of the securities being registered on this Form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities
offered only in connection with dividend or interest reinvestment plans, check the following box.
þ
If this Form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same
offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities
Act, check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. o
If delivery of the prospectus is expected to be made pursuant to Rule 434, please check the
following box. o
If this Form is a registration statement pursuant to General Instruction I.D. or a
post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. þ
If this Form is a post-effective amendment to a registration statement filed pursuant to
General Instruction I.D. filed to register additional securities or additional classes of
securities pursuant to Rule 413(b) under the Securities Act, check the following box. o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer þ |
Accelerated filer o |
Non-accelerated filer o (Do not check if a smaller reporting company) |
Smaller reporting company o |
CALCULATION OF REGISTRATION FEE
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Amount to be Registered/ |
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Proposed Maximum Aggregate Offering Price/ |
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Title of Each Class of Securities to be Registered |
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Amount of Registration Fee (1) |
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Debt Securities |
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Preferred Stock, no par value |
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Depositary Shares |
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Common Stock, no par value |
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Warrants to purchase Debt Securities, Preferred Stock and Common Stock |
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Securities Purchase Contracts |
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Securities Purchase Units |
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An indeterminate aggregate initial offering price, principal amount or number of the
securities of each identified class is being registered as may from time to time be issued
at indeterminate prices or upon conversion, exchange or exercise of securities registered
hereunder to the extent any such securities are, by their terms, convertible into or
exchangeable or exercisable for such securities. Separate consideration may or may not be
received for securities that are issuable on exercise, conversion or exchange of other
securities or that are issued in units. In accordance with Rules 456(b) and 457(r), the
registrant is deferring payment of all of the registration fees. |
PROSPECTUS
HILL-ROM HOLDINGS, INC.
Debt Securities
Preferred Stock
Depositary Shares
Common Stock
Warrants to Purchase Debt Securities, Preferred Stock and Common Stock
Securities Purchase Contracts
Securities Purchase Units
WE WILL PROVIDE SPECIFIC TERMS OF THESE SECURITIES IN
SUPPLEMENTS TO THIS PROSPECTUS.
YOU SHOULD READ THIS PROSPECTUS AND ANY SUPPLEMENT
CAREFULLY BEFORE YOU INVEST.
Our common stock is listed on the New York Stock Exchange under the trading symbol HRC.
Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or passed upon the adequacy or accuracy of this
prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus is February 13, 2009.
ABOUT THIS PROSPECTUS
This prospectus is part of a registration statement that we have filed with the SEC utilizing
a shelf registration process. Under this shelf registration process, we may, from time to time,
sell any combination of the securities described in this prospectus in one or more offerings.
This prospectus provides you with a general description of the securities we may offer. Each
time we sell securities, we will provide a prospectus supplement that will contain specific
information about the terms of that offering and the securities offered by us in that offering. The
prospectus supplement may also add, update or change information contained in this prospectus. You
should read both this prospectus and any prospectus supplement together with additional information
described below under the heading Where You Can Find More Information.
You should rely only on the information provided in this prospectus and in any prospectus
supplement, including the information incorporated by reference. We have not authorized anyone to
provide you with different information. We are not offering the securities in any state where the
offer is not permitted. You should not assume that the information in this prospectus, any
supplement to this prospectus or any document incorporated by reference is accurate at any date
other than the date of the document in which such information is contained or such other date
referred to in that document, regardless of the time of any sale or issuance of a security.
Any statement made in this prospectus, any prospectus supplement or a document incorporated or
deemed to be incorporated by reference in this prospectus will be deemed to be modified or
superseded for purposes of this prospectus to the extent that a statement contained in this
prospectus, any prospectus supplement or any other subsequently filed document that is also
incorporated or deemed to be incorporated by reference in this prospectus modifies or supersedes
that statement. Any statement so modified or superseded will not be deemed, except as so modified
or superseded, to constitute a part of this prospectus. See Incorporation of Certain Documents By
Reference.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This prospectus, including the documents incorporated by reference in this prospectus,
contains, and any prospectus supplement may contain, forward-looking statements within the meaning
of Section 21E of the Exchange Act and Section 27A of the Securities Act. Forward-looking
statements are subject to certain risks and uncertainties, which could cause actual results to
differ materially from those indicated by the forward-looking statements. Forward-looking
statements can be identified by the fact that they do not relate strictly to historical or current
facts.
We have tried, wherever possible, to identify these forward-looking statements by using words
such as intend, anticipate, believe, plan, mitigate, evaluate, attempt, could,
future, expect, may, estimate, strategy, will, projection, should, forecast,
continue or the negative of those terms or other variations of them or by comparable terminology,
but the absence of such terms does not mean that the statement is not forward-looking. In
particular, statements, expressed or implied, concerning future actions, conditions or events, or
future operating results or the ability to generate sales, income or cash flow are forward-looking
statements.
Forward-looking statements give our expectations or predictions of future conditions, events
or results. They are not guarantees of future performance. By their nature, forward-looking
statements are subject to risks and uncertainties. There are a number of factors many of which
are beyond our control that could cause actual conditions, events or results to differ
significantly from those described in the forward-looking statements. For example:
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An adverse outcome in the ongoing antitrust litigation in which we are a defendant could
materially adversely affect our results of operations, financial position and liquidity. |
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Failure by us or our suppliers to comply with the Food and Drug Administration
regulations and similar foreign regulations applicable to the products we manufacture or
distribute could expose us to enforcement actions or other adverse consequences. |
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Capital equipment sales and rental revenues may be adversely affected by Medicare and
state government Medicaid funding cuts that could affect customers in every segment of our
health care business. We could be subject to substantial fines or damages and possible
exclusion from participation in federal health care programs if we fail to comply with the
laws and regulations applicable to our business. |
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Our future financial performance will depend in part on the successful introduction of
new products into the marketplace on a cost-effective basis. The financial success of new
products could be adversely impacted by competitors products, lack of differentiation or
willingness of customers to pay for such differentiation, customer acceptance, difficulties
in product development and manufacturing, quality issues and warranty claims, certain
regulatory approvals and other factors. The introduction of new products may also cause
customers to defer purchases of existing products, which could have an adverse effect on
sales. |
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Adverse changes in general domestic and worldwide economic conditions and instability
and disruption of credit markets could adversely affect our operating results, financial
condition, or liquidity. |
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Our business is significantly dependent on major contracts with group purchasing
organizations, or GPOs, and integrated delivery networks, or IDNs. |
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Increased prices for, or unavailability of, raw materials or sub-assemblies used in our
products could adversely affect profitability or revenues. In particular, our results of
operations continue to be adversely affected by high prices for metals, fuel, plastics and
other petroleum based products. |
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We face significant competition as a result of low cost competitors entering the market
as well as consolidation among competitors, which could reduce our share of the market and
our net sales. Competition could also cause us to increase expenditures or cause us to
reduce our prices thereby negatively impacting our margins. |
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We may be unable to achieve some or all of the benefits that we expect to achieve from
the separation of Hillenbrand, Inc. from us, and any such benefits may be offset in part by
certain negative consequences of the separation. |
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Our agreements with Hillenbrand, Inc. may not reflect terms that would have resulted
from arms-length negotiations among unaffiliated third parties. |
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The distribution of shares of Hillenbrand, Inc. stock to our shareholders could result
in significant tax liability. |
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Our strategic initiatives may not produce the intended growth in revenue and operating
income. |
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We may not be successful in achieving expected operating efficiencies and operating cost
reductions, and may experience business disruptions, associated with announced
restructuring, realignment and cost reduction activities. |
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Product liability or other liability claims could expose us to adverse judgments or
could affect the sales of our products. |
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We are involved on an ongoing basis in claims, lawsuits and governmental proceedings
relating to our operations, including environmental, antitrust, patent infringement,
business practices, commercial transactions, and other matters. |
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We may not be able to grow if we are unable to successfully acquire and integrate, or
form business relationships with, other companies. |
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We may not be able to attract, retain and develop key personnel. |
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If we are unable to convert our portfolio of auction rate securities to cash, our
liquidity and earnings could be adversely affected. |
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A substantial portion of our workforce is unionized, and we could face labor disruptions
that would interfere with our operations. |
For a more in depth discussion of these and other factors that could cause actual results to
differ from those contained in forward-looking statements, see the discussions under the heading
Risk Factors in our Annual Report on Form 10-K for the year ended September 30, 2008 filed with
the SEC and other factors described in this prospectus, the documents incorporated by reference in
this prospectus or any prospectus supplement. We assume no obligation to update or revise any
forward-looking statements.
WHERE YOU CAN FIND MORE INFORMATION
We are subject to the information requirements of the Securities Exchange Act of 1934, as
amended (the Exchange Act). In accordance with the Exchange Act, we file annual, quarterly and
current reports, proxy statements and other information with the SEC. Our SEC file number is
1-6651. You can read and copy this information at the SECs Public Reference Room, 100 F Street,
N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on its
public reference room. The SEC also maintains a website that
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contains reports, proxy statements and other information about issuers, like us, that file
electronically with the SEC. The address of that site is www.sec.gov.
This prospectus, which forms part of the registration statement, does not contain all of the
information that is included in the registration statement. You will find additional information
about our company in the registration statement. Any statements made in this prospectus concerning
the provisions of legal documents are not necessarily complete and you should read the documents
that are filed as exhibits to the registration statement or otherwise filed with the SEC for a more
complete understanding of the document or matter.
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The SEC allows us to incorporate by reference information that we file with the SEC, which
means that we can disclose important information to you by referring you to those documents filed
separately with the SEC. The information incorporated by reference is an important part of this
prospectus, and information that we subsequently file will automatically update and supersede
information in this prospectus and in our other filings with the SEC. We incorporate by reference
the documents listed below, which we have already filed with the SEC, and any future filings under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, until our offering is completed, other than
in each case any portions of such filing that were or are furnished rather than filed:
1. Annual Report on Form 10-K for the year ended September 30, 2008, filed with the SEC
on November 26, 2008;
2. Quarterly Report on Form 10-Q for quarter ended December 31, 2008, filed with the SEC
on February 5, 2009;
3. Current Reports on Form 8-K filed with the SEC on October 2, 2008, October 6, 2008,
December 5, 2008 and January 16, 2009; and
4. Description of Hill-Roms common stock, contained in Form 8-A filed with the SEC on
May 17, 1971.
You may request a copy of these filings, other than an exhibit to a filing, unless that
exhibit is specifically incorporated by reference into the filing, at no cost, and a copy of the
indentures, the warrant agreements, the depositary agreement and any other agreements that we refer
to in this prospectus by writing or calling us at our principal executive offices at the following
address:
Hill-Rom Holdings, Inc.
1069 State Route 46 East
Batesville, Indiana 47006
Attention: Secretary
(812) 934-7777
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HILL-ROM HOLDINGS, INC.
Hill-Rom Holdings, Inc. is a leading worldwide manufacturer and provider of medical
technologies and related services for the health care industry, including patient support systems,
safe mobility and handling solutions, non-invasive therapeutic products for a variety of acute and
chronic medical conditions, medical equipment rentals and information technology solutions. Our
comprehensive product and service offerings are used by health care providers across the health
care continuum in hospitals, extended care facilities and home care settings worldwide, to enhance
the safety and quality of patient care. Unless the context otherwise requires, the terms
Hill-Rom, we, us and our refer to Hill-Rom Holdings, Inc. and its consolidated
subsidiaries.
Hill-Rom is an Indiana corporation, and our principal executive offices are located at 1069
State Route 46 East, Batesville, Indiana 47006. Our telephone number is (812) 934-7777. Our
website is www.hill-rom.com. Information on, or accessible through, this website is not a part of
this prospectus.
USE OF PROCEEDS
Unless we specify otherwise in the applicable prospectus supplement, we intend to use the net
proceeds we receive from the sale of the securities offered by this prospectus and the accompanying
prospectus supplement(s) for general corporate purposes. General corporate purposes may include,
without limitation:
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repayment of debt; |
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investments in our subsidiaries; |
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redemption or repurchase of securities; and |
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financing of possible acquisitions or business expansion or the refinancing of prior
acquisitions. |
The net proceeds may be invested temporarily or applied to repay short-term debt until they
are used for their stated purpose.
RATIO OF EARNINGS TO FIXED CHARGES
The following table shows the ratio of earnings to fixed charges of Hill-Rom for each of the
periods indicated. Because we had no shares of preferred stock outstanding during any of the
periods presented or as of the date of this prospectus, we do not separately present the ratio of
earnings to combined fixed charges and preferred stock dividends. Refer to Exhibit 12 to the
registration statement of which this prospectus forms a part for information regarding the
computation of the ratio of earnings to fixed charges.
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Three |
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months |
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ended |
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December 31, |
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Fiscal year ended September 30 |
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2008 |
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Ratio of earnings to fixed charges |
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5.88 |
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5.31 |
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4.34 |
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4.83 |
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* |
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5.59 |
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As a result of the loss incurred for fiscal 2005, earnings were insufficient to cover fixed
charges by approximately $281.6 million. Earnings for fiscal 2005 included a litigation charge
of approximately $358.6 million associated with the settlement of antitrust litigation with
Spartanburg Regional Healthcare System. |
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DESCRIPTION OF DEBT SECURITIES
The following description of the terms of the debt securities sets forth general terms that
may apply to the debt securities. The particular terms of any debt securities will be described in
the prospectus supplement relating to those debt securities.
The debt securities will be either our senior debt securities or our subordinated debt
securities. The senior debt securities will be issued under an indenture dated as of December 1,
1991, between Hill-Rom and Union Bank of California, N.A. (as successor to prior trustees
thereunder), as trustee. This indenture is referred to as the senior indenture. The subordinated
debt securities will be issued under an indenture to be entered into between us and the trustee
named in a prospectus supplement. This indenture is referred to as the subordinated indenture.
The senior indenture and the subordinated indenture are together called the indentures.
The following is a summary of the most important provisions of the indentures. Copies of the
indentures are filed as exhibits to the registration statement of which this prospectus is a part.
Section references below are to the sections in the applicable indentures. The referenced sections
of the indentures are incorporated by reference. We encourage you to read our indentures.
General
Neither indenture limits the amount of debt securities that we may issue. Debt securities may
be issued up to the principal amount authorized by our board of directors from time to time. The
senior debt securities will be unsecured and will have the same rank as all of our other unsecured
and unsubordinated debt. The subordinated debt securities will be unsecured and will be
subordinated and junior to all senior indebtedness.
The debt securities may be issued in one or more separate series of senior debt securities or
subordinated debt securities. The prospectus supplement relating to the particular series of debt
securities being offered will describe the particular amounts, prices and terms of those debt
securities. These terms will include:
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the title of the debt securities; |
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any limit upon the total principal amount of the debt securities; |
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the date or dates on which the principal of the debt securities will be payable; |
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the interest rate or rates, if any, that the debt securities will bear, the date or
dates from which any interest will accrue, the interest payment dates for the debt
securities and the record date for any interest payable on any interest payment date; |
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any optional or mandatory redemption provisions; |
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any sinking fund or other provisions that would obligate us to repurchase or otherwise
redeem the debt securities; |
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any changes to or additional events of default or covenants; |
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whether the debt securities will be denominated in, and whether the principal of and
any premium and any interest on the debt securities will be payable in, any foreign
currency or foreign currency units; |
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whether the debt securities are to be issued in individual certificates to each holder
or in the form of global securities held by a depositary on behalf of holders; |
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any special tax implications of the debt securities, including provisions for original
issue discount securities, if offered; |
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any conversion or exchange provisions; and |
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any other specific terms of the debt securities. |
Unless we otherwise specify in the prospectus supplement:
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the debt securities will be registered debt securities; |
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the principal amount of debt securities will be payable upon a declaration of
acceleration; and |
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registered debt securities denominated in U.S. dollars will be issued in denominations
of $1,000 or an integral multiple of $1,000. (Section 302 of the indentures). |
If any of the debt securities are sold for any foreign currency or currency unit, or if any
payments on the debt securities are payable in any foreign currency or currency unit, the
prospectus supplement will describe any
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restrictions, elections, tax consequences, specific terms and other information relating to
the debt securities and the foreign currency or currency unit.
Some of the debt securities may be issued as original issue discount debt securities. Original
issue discount securities bear no interest or bear interest at below-market rates. These are sold
at a discount below their stated principal amount. If we issue these securities, the prospectus
supplement will describe any special tax, accounting or other considerations relevant to these
securities.
Exchange, Registration and Transfer
Debt securities may be transferred or exchanged at the corporate trust office of the security
registrar or at any other office or agency which is maintained for these purposes. No service
charge will be payable upon the transfer or exchange, except for any applicable tax or governmental
charge.
The designated security registrar in the United States for the senior debt securities is Union
Bank of California, N.A., located at 551 Madison Avenue, 11th Floor, New York, New York
10022. The security registrar for the subordinated debt securities will be designated in a
prospectus supplement.
In the event of any redemption in part of any series of debt securities, we will not be
required to issue, register the transfer of or exchange debt securities of any series between the
opening of business 15 days before the day of the mailing of a notice of redemption of securities
of the series selected for redemption and the close of business on the day of mailing of the
relevant notice of redemption.
(Section 305 of the indentures)
Payment and Paying Agent
We will pay principal and any premium on fully registered securities in the designated
currency or currency unit at the office of the paying agent. Payment of interest on fully
registered securities may be made at the office of the paying agent or by check mailed to the
persons in whose names the debt securities are registered on days specified in the indentures or
any prospectus supplement. (Section 307 of the indentures)
If any amount payable on any debt security or coupon remains unclaimed at the end of three
years after the amount became due and payable, the paying agent will release any unclaimed amounts
to us. (Section 1003 of the indentures)
Our paying agent in the United States for the senior debt securities is Union Bank of
California, N.A., located at 551 Madison Avenue, 11th Floor, New York, New York 10022.
We will designate the paying agent for the subordinated debt securities in the applicable
prospectus supplement.
Global Securities
The debt securities of a series may be issued in whole or in part in the form of one or more
global certificates. Those certificates will be deposited with a depositary that we will identify
in a prospectus supplement. We will describe the specific terms of the depositary arrangement
relating to a series of debt securities in the prospectus supplement. (Section 311 of the senior
indenture; Section 204 of the subordinated indenture)
Unless we otherwise specify in a prospectus supplement, we anticipate that the following
provisions will apply to our depositary arrangements:
U.S. Book-Entry Securities. Debt securities of a series represented by a definitive global
registered security and deposited with or on behalf of a depositary in the United States will be
registered in the name of the depositary or its nominee. These securities are referred to as book-
entry securities.
When a global security is issued and deposited with the depositary, the depositary will
credit, on its book-entry registration and transfer system, the respective principal amounts
represented by that global security to the accounts of institutions that have accounts with the
depositary. Institutions that have accounts with the depositary are referred to as participants.
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The accounts to be credited shall be designated by the underwriters or agents for the sale of
such book-entry securities or by us, if we offer and sell those securities directly.
Ownership of book-entry securities is limited to participants or persons that may hold
interests through participants. In addition, ownership of these securities will be evidenced only
by, and the transfer of that ownership will be effected only through, records maintained by the
depositary or by participants or persons that hold through other participants.
So long as the depositary, or its nominee, is the registered owner of a global security, that
depositary or nominee will be considered the sole owner or holder of the book-entry securities
represented by the global security for all purposes under the indenture. Payments of principal,
interest and premium on those securities will be made to the depositary or its nominee as the
registered owner or the holder of the global security.
Owners of book-entry securities:
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will not be entitled to have the debt securities registered in their names; |
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will not be entitled to receive physical delivery of the debt securities in definitive
form; and |
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will not be considered the owners or holders of those debt securities under either
indenture. |
Special Situation When a Global Security Will Be Terminated. In a few special situations, the
global security will terminate and interests in it will be exchanged for physical certificates
representing those interests. After that exchange, the choice of whether to hold securities
directly or in street name will be up to the investor. Investors must consult their own bank or
brokers to find out how to have their interests in securities transferred to their own name, so
that they will be direct holders. We have described the rights of holders and street name investors
below.
The global security will terminate when the following special situations occur:
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if the depositary notifies us that it is unwilling, unable or no longer qualified to
continue as depositary for that global security and we do not appoint another institution
to act as depositary within 90 days; |
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if we notify the trustee that we wish to terminate that global security; or |
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if an event of default has occurred with regard to debt securities represented by that
global security and has not been cured or waived. We discuss defaults later under Events
of Default, Notice and Waiver. |
The prospectus supplement may also list additional situations for terminating a global
security that would apply only to the particular series of securities covered by the prospectus
supplement. When a global security terminates, the depositaryand not we or the trusteeis
responsible for deciding the names of the institutions that will be the initial direct holders.
(Section 311 of the senior indenture; Section 204 of the subordinated indenture)
We expect that the depositary for book-entry securities of a series will immediately credit
participants accounts with payments received by the depositary or nominee in amounts proportionate
to the participants beneficial interests as shown on the records of such depositary.
We also expect that payments by participants to owners of beneficial interests in a global
security held through the participants will be governed by standing instructions and customary
practices, as is now the case with securities held for the accounts of customers in bearer form or
registered in street name. The payments by participants to the owners of beneficial interests
will be the responsibility of those participants.
Satisfaction and Discharge; Defeasance
We may be discharged from our obligations on the debt securities of any series that have
matured or will mature or be redeemed within one year if we deposit with the trustee enough cash to
pay all the principal, interest and any premium due to the stated maturity date or redemption date
of the debt securities. (Section 401 of the indentures)
Each indenture contains a provision that permits us to elect:
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1. to be discharged from all of our obligations (subject to limited exceptions) with respect
to any series of debt securities then outstanding; and/or
2. to be released from our obligations under the following covenants and from the consequences
of an event of default or cross-default resulting from a breach of these covenants:
(a) the limitations on mergers, consolidations and transfers of assets,
(b) with respect to the senior indenture, the limitations on liens, and
(c) with respect to the senior indenture, the limitations on sale and leaseback transactions.
To make either of these elections, we must deposit in trust with the trustee enough money to
pay in full the principal, interest and premium on the debt securities. This amount may be made in
cash and/or U.S. government obligations, if the debt securities are denominated in U.S. dollars.
This amount may be made in cash and/or foreign government securities if the debt securities are
denominated in a foreign currency. As a condition to either of these elections, we must deliver to
the trustee an opinion of counsel that the holders of the debt securities will not recognize
income, gain or loss for Federal income tax purposes as a result of the action.
If either of the above events occur, the holders of the debt securities of the series will not
be entitled to the benefits of the indentures, except for registration of transfer and exchange of
debt securities and replacement of lost, stolen or mutilated debt securities. (Article XIII of the
senior indenture; Section 403 of the subordinated indenture).
Events Of Default, Notice and Waiver
If a specified event of default for any series of debt securities occurs and continues, the
trustee or the holders of at least 25% in principal amount of the debt securities of the series may
declare the entire principal amount of all the debt securities of that series (or, if the debt
securities are original issue discount securities, such portion of the principal as may be
described in the applicable prospectus supplement) to be due and payable immediately. Upon the
occurrence and continuance of an event of default relating to Hill-Roms bankruptcy, insolvency or
reorganization, the principal amount (or portion thereof in the case of original issue discount
securities) will become immediately due and payable without any declaration or other act on the
part of the trustee or any holder of debt securities.
The declaration may be annulled and past defaults may be waived by the holders of a majority
of the principal amount of the debt securities of that series if we satisfy certain conditions.
However, payment defaults that are not cured may only be waived by all holders of the debt
securities. (Sections 502 and 513 of the indentures)
Each indenture defines an event of default in connection with any series of debt securities as
one or more of the following events:
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we fail to pay interest when due on debt securities of that series for 30 days after
it is due; |
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we fail to pay the principal of or any premium on debt securities of that series when
due; |
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we fail to perform any other covenant in the indenture related to the debt securities
of the series and this failure continues for 90 days after we receive written notice of
it; |
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we or a court take certain actions relating to the bankruptcy, insolvency or
reorganization of our company; and |
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any other event of default provided in a supplemental indenture or board resolution
under which a series of debt securities is issued or in the form of that debt security
occurs. |
(Section 501 of the indentures)
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For the events of default applicable to a particular series of debt securities, see the
prospectus supplement relating to that series. A default under our other indebtedness will not be a
default under the indentures, and a default under one series of debt securities will not
necessarily be a default under another series.
Each indenture requires the trustee to give the holders of a series of debt securities notice
of a default for that series within 90 days unless the default is cured or waived. However, the
trustee may withhold this notice if it determines in good faith that it is in the interest of those
holders. The trustee may not, however, withhold this notice in the case of a payment default.
(Section 602 of the indentures)
Other than its duties in case of a default, a trustee is not obligated to exercise any of its
rights or powers under either indenture at the request or direction of any of the holders of debt
securities, unless the holders have offered to the trustee reasonable indemnification. (Section 603
of the indentures)
If such indemnification is provided, the holders of a majority in principal amount of
outstanding debt securities of any series may, subject to certain limitations, direct the time,
method and place of conducting any proceeding for any remedy available to the trustee, or
exercising any trust or other power conferred on the trustee. (Section 512 of the indentures)
Each indenture includes a covenant that we will deliver within 120 days after the end of each
fiscal year to the trustee a certificate of no default, or specifying the nature and status of any
default that exists. (Section 1009 of the senior indenture; Section 1004 of the subordinated
indenture)
Street name and other indirect holders should consult their banks and brokers for information
on their requirements for giving notice or taking other actions upon a default.
Modification of the Indentures
Together with the trustee, we may, when authorized by our board of directors, modify the
indentures without the consent of the holders of debt securities for limited purposes, including,
but not limited to, adding to our covenants or events of default, establishing forms or terms of
debt securities and curing ambiguities. (Section 901 of the indentures)
Together with the trustee, we may, when authorized by our board of directors, also make
modifications and amendments to each indenture with the consent of the holders of not less than
66-2/3% in principal amount of the outstanding debt securities of all affected series. However,
without the consent of each affected holder, no modification may:
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change the stated maturity of any debt security; |
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reduce the principal, premium (if any) or rate of interest, or change the method of
computing the amount of principal or interest, on any debt security; |
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change any place of payment or the currency in which any debt security or any premium
or interest thereon is payable; |
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impair the right to enforce any payment after the stated maturity or redemption date; |
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reduce the percentage of holders of outstanding debt securities of any series required
to consent to any modification, amendment or waiver under the indentures; or |
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modify the provisions in the indentures relating to the waiver of past defaults and
the waiver of certain covenants. |
(Section 902 of the indentures)
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Notices to Holders
Notice shall be given to holders of securities by mail to the addresses of the holders as they
appear in the security register. (Section 106 of the indentures)
Title
We, the trustee, and any agent of ours or the trustee may treat the registered owner of any
registered security as the absolute owner of that security for all purposes. (Section 308 of the
indentures)
Replacement of Securities
We will replace debt securities that have been mutilated, but you will have to pay for the
replacement and will have to surrender the mutilated debt security to the trustee first. Debt
securities that become destroyed, stolen, or lost will only be replaced by us upon your providing
evidence of destruction, loss, or theft that the trustee and we find satisfactory. In the case of a
destroyed, lost, or stolen debt security, we may also require you, as the holder of the debt
security, to indemnify the trustee and us before we will issue any replacement debt security.
(Section 306 of the indentures)
Governing Law
The indentures and the debt securities will be governed by, and construed under, the laws of
the State of New York.
Our Relationship with the Trustee
We may from time to time maintain lines of credit, and have other customary banking
relationships, with the trustee under the senior indenture or the trustee under the subordinated
indenture.
Limitation on Merger, Consolidation and Transfers or Conveyances of Assets
The following covenant is applicable to both our senior debt securities and our subordinated
debt securities. We may not merge into or consolidate with any other corporation, or convey or
transfer our properties and assets substantially as an entirety to another person unless:
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the successor is a U.S. corporation that assumes our obligations under the debt
securities and the indentures; and |
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immediately after giving effect to the transaction, there is no default under the
applicable indenture. |
In addition, if, as a result of our merger, consolidation, transfer or conveyance of
substantially all our assets, any of our Principal Properties becomes subject to a mortgage or
other lien not permitted by the senior indenture, we or our successor must take all necessary steps
to equally and ratably secure our senior debt securities with such other secured indebtedness.
(Section 801 of the indentures)
Provisions Applicable Only to Senior Debt Securities
Ranking. The senior debt securities will be unsecured and will rank equally with all of our
other unsecured and non-subordinated debt.
Covenants. The restrictive covenants summarized below will apply (unless waived or amended)
so long as any of the senior debt securities are outstanding, unless the applicable prospectus
supplement states otherwise. We have provided at the end of these covenants definitions of the
capitalized words used in discussing the covenants.
Limitation on Liens. We have agreed that we will not, and will not permit any
Restricted Subsidiary to, create, incur, grant or suffer to exist any mortgage or other lien upon
any Principal Property or any debt or equity
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securities issued by any Restricted Subsidiary and owned by us or a Restricted Subsidiary
without securing the senior debt securities equally and ratably with, or prior to, all other
indebtedness or other obligations secured by the mortgage or other lien. This covenant has certain
exceptions, which generally permit: mortgages and other liens existing on the date of the senior
indenture;
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mortgages and other liens existing on property owned by persons at the time they
become Restricted Subsidiaries or created at that time; |
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mortgages and other liens existing at the time property is acquired by us or a
Restricted Subsidiary; |
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mortgages and other liens securing the payment of all or any part of the price of
acquiring, constructing, installing or improving property, or incurred at, or prior to,
the time of acquisition or construction or within 90 days thereafter to finance the
purchase, construction, alteration, repair or improvement thereof; |
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mortgages and other liens securing indebtedness of a Restricted Subsidiary owed to us
or another Restricted Subsidiary; |
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mortgages and other liens existing on the property of a corporation at the time such
corporation is merged into or substantially all of its assets are acquired by us or a
Restricted Subsidiary; |
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mortgages and other liens existing on the property of a person at the time of our
merger or the merger of a Restricted Subsidiary into such person or the sale of
substantially all of our assets or the assets of a Restricted Subsidiary to such person; |
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mortgages and liens in favor of governmental entities to secure progress, advance
other payments; and |
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generally any extension, renewal or replacement (or successive extensions, renewals or
replacements) in whole or in part of any of the foregoing mortgages or other liens, so
long as the principal amount of indebtedness or other obligations so secured at the time
of such extension, renewal or replacement does not increase and the scope of the mortgage
or other lien is limited to the same property subject to the mortgage or other lien so
extended, renewed or replaced (and any improvements on such property). |
(Section 1007 of the senior indenture)
Limitation on Sale and Leaseback Transactions. Generally, sale and leaseback
transactions by us or any Restricted Subsidiary involving a Principal Property are prohibited
unless the net proceeds from the sale are at least equal to fair value of the property involved,
and within 90 days after the effective date of any such transaction we apply the net proceeds of
the sale to the retirement of senior debt securities or Funded Debt of Hill-Rom or any Restricted
Subsidiary ranking prior to or on a parity with senior debt securities. Sale and leaseback
transactions with Restricted Subsidiaries or those having an aggregate lease term of three years or
less are excepted from the prohibition. (Section 1008 of the senior indenture)
Basket. Mortgages and other liens and sale and leaseback transactions otherwise
prohibited by the senior indenture are permitted as long as the aggregate outstanding principal
amount of all indebtedness of us and our Restricted Subsidiaries which would otherwise be subject
to the prohibition on mortgages and other liens but for this basket and the Attributable Debt
relating to existing sale and leaseback transactions which would otherwise be subject to the
prohibition on sale and leaseback transactions but for this basket do not exceed 15% of
shareholders equity reflected in our consolidated balance sheet. (Sections 1007 and 1008 of the
senior indenture).
General. Other than the foregoing restrictions on liens and sale and leaseback
transactions, the senior indenture and the senior debt securities do not contain any covenants or
other provisions designed to protect holders of the debt securities in the event of a highly
leveraged transaction involving Hill-Rom.
Definitions. We have summarized below definitions of some of the terms used in the
senior indenture. In the definitions, all references to us, we or our mean Hill-Rom Holdings,
Inc. only. (Section 101 of the senior indenture)
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Attributable Debt when used with respect to any sale and leaseback transaction means the
present value (discounted at the weighted average interest rate borne by the outstanding senior
debt securities compounded semi-annually) of the total net amount of rent required to be paid
during the remaining term of the related lease (including any period for which such lease has been
extended).
Funded Debt means any indebtedness of Hill-Rom or a Restricted Subsidiary for borrowed money
having a maturity of more than 12 months from the date such indebtedness was incurred or having a
maturity of less than 12 months but by its terms being renewable or extendable at the option of the
obligor beyond 12 months from the date such indebtedness was incurred.
Principal Property means, generally, the corporate headquarters of Hill-Rom and each
manufacturing facility of Hill-Rom or any Subsidiary in excess of 100,000 square feet located in
the United States (other than its territories or possessions) or Puerto Rico, other than any such
facility or portion thereof that our board of directors reasonably determines is not of material
importance to the business conducted by us and our Subsidiaries as an entirety.
Restricted Subsidiary means any Subsidiary that owns, operates or leases one or more
Principal Properties.
Subsidiary means each corporation of which we, or we and one or more Subsidiaries, or any
one or more Subsidiaries, directly or indirectly own securities entitling the holders thereof to
elect a majority of the directors, either at all times or so long as there is no default or
contingency that permits the holders of any other class or classes of securities to vote for the
election of one or more directors.
Provisions Applicable Only to Subordinated Debt Securities
The subordinated debt securities will be unsecured. The subordinated debt securities will be
subordinate in right of payment to all senior indebtedness. (Section 1201 of the subordinated
indenture)
In addition, claims of our Subsidiaries creditors and preferred stockholders generally will
have priority with respect to the assets and earnings of the Subsidiaries over the claims of our
creditors, including holders of the subordinated debt securities, even though those obligations may
not constitute senior indebtedness. The subordinated debt securities, therefore, will be
effectively subordinated to creditors, including trade creditors, and preferred stockholders of our
subsidiaries.
The subordinated indenture defines senior indebtedness to mean the principal of, premium, if
any, and interest on:
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all indebtedness for money borrowed or guaranteed by Hill-Rom other than the
subordinated debt securities, unless the indebtedness is by its terms expressly stated to
be not superior in right of payment, or to rank pari passu with, the subordinated debt
securities; and |
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any deferrals, renewals or extensions of any senior indebtedness. |
However, the term senior indebtedness will not include:
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any of our obligations to our Subsidiaries; |
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any liability for Federal, state, local or other taxes owed or owing by us; |
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any accounts payable or other liability to trade creditors, arising in the ordinary
course of business, including guarantees of, or instruments evidencing, such liabilities; |
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any indebtedness, guarantee or obligation of ours which is expressly subordinate or
junior in right of payment in any respect to any other indebtedness, guarantee or
obligation of ours, including any senior subordinated indebtedness and any subordinated
obligations; |
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any obligations with respect to any capital stock; or |
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any indebtedness incurred in violation of the subordinated indenture. |
There is no limitation on our ability to issue additional senior indebtedness. The senior debt
securities constitute senior indebtedness under the subordinated indenture. The subordinated debt
securities will rank equally with our other subordinated indebtedness.
Under the subordinated indenture, no payment may be made on the subordinated debt securities
and no purchase, redemption or retirement of any subordinated debt securities may be made in the
event:
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any senior indebtedness is not paid when due; or |
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any other default on senior indebtedness occurs and the maturity of that senior
indebtedness is accelerated in accordance with its terms, |
unless, in either case, the default has been cured or waived and the acceleration has been
rescinded or that senior indebtedness has been paid in full.
We may, however, pay the subordinated debt securities without regard to the above restriction
if the representatives of the holders of the applicable senior indebtedness approve the payment in
writing to us and the trustee. (Section 1203 of the subordinated indenture)
If a default on senior indebtedness occurs that could result in the acceleration of that
senior indebtedness maturity immediately without further notice (other than notice to effect the
acceleration) or the expiration of any grace periods, the representatives of the holders of that
senior indebtedness may notify us and the trustee in writing of the default and specify an election
to make a payment blockage. In this event, we may not pay the subordinated debt securities for 179
days after receipt of that notice of such default unless
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the person who gave such notice gives written notice to the trustee and to us
terminating the period of non-payment, |
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the senior indebtedness is paid in full or |
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the default that caused such notice is no longer continuing. |
If the holders of senior indebtedness or their representatives have not accelerated the
maturity of the senior indebtedness at the end of the 179 day period, we may resume payments on the
subordinated debt securities. Not more than one such notice may be given in any consecutive 360-day
period, irrespective of the number of defaults with respect to senior indebtedness during that
period. (Section 1203 of the subordinated indenture)
In the event we pay or distribute our assets to creditors upon a total or partial liquidation
or dissolution of us, or in bankruptcy, reorganization, insolvency, receivership or similar
proceedings relating to us or our property, the holders of senior indebtedness will be entitled to
receive payment in full of the senior indebtedness before the holders of subordinated debt
securities are entitled to receive any payment of principal of or interest on or other amounts
payable with respect to subordinated debt securities. Until the senior indebtedness is paid in
full, any payment or distribution to which holders of subordinated debt securities would be
entitled but for the subordination provisions of the subordinated indenture will be made to holders
of the senior indebtedness, except that holders of subordinated debt securities may receive shares
of stock and any debt securities that are subordinated to at least the same extent as the
subordinated debt securities and do not provide for the payment of principal prior to the stated
maturity of all senior indebtedness. (Section 1202 of the subordinated indenture)
If a distribution is made to holders of subordinated debt securities that, due to the
subordination provisions, should not have been made to them, those holders of subordinated debt
securities are required to hold it in trust for the holders of senior indebtedness, and pay it over
to them as their interests may appear. (Section 1205 of the subordinated indenture)
If payment of the subordinated debt securities is accelerated because of an event of default,
either we or the trustee will promptly notify the holders of senior indebtedness or their
representatives of the acceleration. We may not pay the subordinated debt securities until five
business days after the holders of senior indebtedness or their
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representatives receive notice of the acceleration. Thereafter, we may pay the subordinated
debt securities only if the subordination provisions of the subordinated indenture otherwise permit
payment at that time. (Section 1204 of the subordinated indenture)
As a result of the subordination provisions contained in the subordinated indenture, in the
event of insolvency, our creditors who are holders of senior indebtedness may recover more,
ratably, than the holders of subordinated debt securities. In addition, our creditors who are not
holders of senior indebtedness may recover less, ratably, than holders of senior indebtedness and
may recover more, ratably, than the holders of subordinated indebtedness. It is important to keep
this in mind if you decide to hold our subordinated debt securities.
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DESCRIPTION OF PREFERRED STOCK
The following is a description of general terms and provisions of our preferred stock. The
particular terms of any series of preferred stock will be described in the applicable prospectus
supplement.
All the terms of the preferred stock are, or will be, contained in our amended and restated
articles of incorporation and the articles of amendment relating to each series of the preferred
stock, which will be effective without shareholder action and will be filed with the SEC at or
before the time we issue a series of the preferred stock.
Our amended and restated articles of incorporation authorize us to issue up to 1,000,000
shares of preferred stock, without par value, of which no shares had been issued as of the date of
this prospectus. Under our charter, we are permitted to:
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issue one or more series of preferred stock; |
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determine the designation for any series by number, letter or title that shall
distinguish the series from any other series of preferred stock; and |
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determine the number of shares in any series. |
The board of directors is authorized to determine, for each series of preferred stock, and the
prospectus supplement will set forth with respect to the series the following information:
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whether dividends on that series of preferred stock will be cumulative and, if so,
from which date; |
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the dividend rate; |
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the dividend payment date or dates; |
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the liquidation preference per share of that series of preferred stock, if any; |
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any conversion provisions applicable to that series of preferred stock; |
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any redemption or sinking fund provisions applicable to that series of preferred
stock; |
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the voting rights of that series of preferred stock, if any; and |
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the terms of any other preferences or special rights applicable to that series of
preferred stock. |
The preferred stock, when issued, will be fully paid and nonassessable.
Dividends
Holders of preferred stock will be entitled to receive, when, as and if declared by our board
of directors, cash dividends at the rates and on the dates as set forth in the applicable articles
of amendment. Generally, no dividends will be declared or paid on any series of preferred stock
unless full dividends for all series of preferred stock, including any cumulative dividends still
owing, have been or contemporaneously are declared and paid. When those dividends are not paid in
full, dividends will be declared pro-rata so that the amount of dividends declared per share on
each series of preferred stock will bear to each other series the same ratio that accrued dividends
per share for each respective series of preferred stock bear to aggregate accrued dividends for all
outstanding shares of preferred stock. In addition, generally, unless all dividends on the
preferred stock have been paid, no dividends will be declared or paid on the common stock and we
may not redeem or purchase any common stock.
Payment of dividends on any series of preferred stock may be restricted by loan agreements,
indentures and other transactions we may enter into.
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Convertibility
No series of preferred stock will be convertible into, or exchangeable for, other securities
or property except as set forth in the applicable articles of amendment and applicable prospectus
supplement.
Redemption and Sinking Fund
No series of preferred stock will be redeemable or receive the benefit of a sinking fund
except as set forth in the applicable articles of amendment and applicable prospectus supplement.
Shares of preferred stock that we redeem or otherwise reacquire will resume the status of
authorized and unissued shares of preferred stock undesignated as to series, and will be available
for subsequent issuance. There are no restrictions on repurchase or redemption of the preferred
stock while there is any arrearage on sinking fund installments except as may be set forth in the
applicable articles of amendment.
Liquidation
In the event we voluntarily or involuntarily liquidate, dissolve or wind up our affairs, the
holders of each series of preferred stock will be entitled to receive the liquidation preference
per share specified in the applicable prospectus supplement, plus any accrued and unpaid dividends.
Holders of preferred stock will be entitled to receive these amounts before any distribution is
made to the holders of common stock.
If the amounts payable to preferred stockholders are not paid in full, the holders of
preferred stock will share ratably in any distribution of assets based upon the aggregate
liquidation preference for all outstanding shares for each series. After the holders of shares of
preferred stock are paid in full, they will have no right or claim to any of our remaining assets.
The liquidation preference is not indicative of the price at which the preferred stock will
actually trade on or after the date of issuance.
Voting
The holders of preferred stock will not be entitled to vote with the holders of common stock
in the election of directors, except as provided in the articles of amendment with respect to a
particular series and the applicable prospectus supplement.
No Other Rights
The shares of a series of preferred stock will not have any preemptive rights, preferences,
voting powers or relative, participating, optional or other special rights except as set forth
above or in the prospectus supplement, our amended and restated articles of incorporation or
articles of amendment or as otherwise required by law.
Transfer Agent and Registrar
We will designate the transfer agent for each series of preferred stock in the applicable
prospectus supplement.
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DESCRIPTION OF DEPOSITARY SHARES
We may, at our option, elect to offer fractional shares of preferred stock, rather than full
shares of preferred stock. If we do, we will issue receipts for depositary shares, and each of
these depositary shares will represent a fraction of a share of a particular series of preferred
stock. Each owner of a depositary share will be entitled, in proportion to the applicable
fractional interest in shares of preferred stock underlying that depositary share, to all rights
and preferences of the preferred stock underlying that depositary share. Those rights include
dividend, voting, redemption and liquidation rights.
The shares of preferred stock underlying the depositary shares will be deposited with a
depositary under a deposit agreement among us, the depositary and the holders of the depositary
receipts evidencing the depositary shares. The depositary will be a bank or trust company selected
by us. The depositary will also act as the transfer agent, registrar and dividend disbursing agent
for the depositary shares.
Holders of depositary receipts agree to be bound by the deposit agreement, which requires
holders to take certain actions such as filing proof of residence and paying certain charges.
The following is a summary of the most important terms of the depositary shares. The deposit
agreement, our amended and restated articles of incorporation and the articles of amendment for the
applicable series of preferred stock that are, or will be, filed with the SEC will set forth all of
the terms relating to the depositary shares.
Dividends
The depositary will distribute all cash dividends or other cash distributions received
relating to the series of preferred stock underlying the depositary shares to the record holders of
depositary receipts in proportion to the number of depositary shares owned by those holders on the
relevant record date. The record date for the depositary shares will be the same date as the record
date for the preferred stock.
In the event of a distribution other than in cash, the depositary will distribute property
received by it to the record holders of depositary receipts that are entitled to receive the
distribution. However, if the depositary determines that it is not feasible to make the
distribution, the depositary may, with our approval, adopt another method for the distribution. The
method may include selling the property and distributing the net proceeds to the holders.
Liquidation Preference
In the event of our voluntary or involuntary liquidation, dissolution or winding up, the
holders of each depositary share will be entitled to receive the fraction of the liquidation
preference accorded each share of the applicable series of preferred stock, as set forth in the
applicable prospectus supplement.
Redemption
If a series of preferred stock underlying the depositary shares is subject to redemption, the
depositary shares will be redeemed from the proceeds received by the depositary resulting from the
redemption, in whole or in part, of preferred stock held by the depositary. Whenever we redeem any
preferred stock held by the depositary, the depositary will redeem, as of the same redemption date,
the number of depositary shares representing the preferred stock so redeemed. The depositary will
mail the notice of redemption to the record holders of the depositary receipts promptly upon
receiving the notice from us and not less than 35 nor more than 60 days prior to the date fixed for
redemption of the preferred stock and the depositary shares. The redemption price per depositary
share will be equal to the applicable fraction of the redemption price payable per share for the
applicable series of preferred stock. If fewer than all the depositary shares are redeemed, the
depositary shares will be selected by lot or ratably as the depositary will decide.
Voting
Upon receipt of notice of any meeting at which the holders of preferred stock are entitled to
vote, the depositary will mail the information contained in the notice of meeting to the record
holders of the depositary receipts representing the preferred stock. Each record holder of those
depositary receipts on the record date will be
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entitled to instruct the depositary as to the exercise of the voting rights pertaining to the
amount of preferred stock underlying that holders depositary shares. The record date for the
depositary shares will be the same date as the record date for the preferred stock. The depositary
will try, as far as practicable, to vote the preferred stock underlying the depositary shares in a
manner consistent with the instructions of the holders of the depositary receipts. We will agree to
take all action which may be deemed necessary by the depositary in order to enable the depositary
to do so. The depositary will not vote the preferred stock to the extent that it does not receive
specific instructions from the holders of depositary receipts.
Withdrawal Of Preferred Stock
Owners of depositary shares are entitled, upon surrender of depositary receipts at the
principal office of the depositary and payment of any unpaid amount due the depositary, to receive
the number of whole shares of preferred stock underlying the depositary shares. Partial shares of
preferred stock will not be issued. These holders of preferred stock will not be entitled to
deposit the shares under the deposit agreement or to receive depositary receipts evidencing
depositary shares for the preferred stock.
Amendment and Termination of Deposit Agreement
The form of depositary receipt evidencing the depositary shares and any provision of the
deposit agreement may be amended at any time and from time to time by agreement between us and the
depositary. However, any amendment which materially and adversely alters the rights of the holders
of depositary shares, other than any change in fees, will not be effective unless the amendment has
been approved by the holders of at least a majority of the depositary shares then outstanding. The
deposit agreement automatically terminates if:
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all outstanding depositary shares have been redeemed; or |
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there has been a final distribution relating to the preferred stock in connection with
our dissolution, and that distribution has been made to all the holders of depositary
shares. |
Charges of Depositary
We will pay all transfer and other taxes and governmental charges arising solely from the
existence of the depositary arrangements. We will also pay charges of the depositary in connection
with the initial deposit of the preferred stock and the initial issuance of the depositary shares,
any redemption of the preferred stock and all withdrawals of preferred stock by owners of
depositary shares. Holders of depositary receipts will pay transfer, income and other taxes and
governmental charges and certain other charges as provided in the deposit agreement. In certain
circumstances, the depositary may refuse to transfer depositary shares, withhold dividends and
distributions, and sell the depositary shares evidenced by the depositary receipts, if the charges
are not paid.
Reports to Holders
The depositary will forward to the holders of depositary receipts all reports and
communications we deliver to the depositary that we are required to furnish to the holders of the
preferred stock. In addition, the depositary will make available for inspection by holders of
depositary receipts at the principal office of the depositaryand at other places as it thinks are
advisableany reports and communications we deliver to the depositary as the holder of preferred
stock.
Liability and Legal Proceedings
Neither we nor the depositary will be liable if either of us is prevented or delayed by law or
any circumstance beyond our control in performing our obligations under the deposit agreement. Our
obligations and those of the depositary will be limited to performance in good faith of our duties
under the deposit agreement. Neither we nor the depositary will be obligated to prosecute or defend
any legal proceeding in respect of any depositary shares or preferred stock unless satisfactory
indemnity is furnished. We and the depositary may rely on written advice of counsel or accountants,
on information provided by holders of depositary receipts or other persons believed in good faith
to be competent to give such information and on documents believed to be genuine and to have been
signed or presented by the proper persons.
-15-
Resignation and Removal of Depositary
The depositary may resign at any time by delivering a notice to us of its election to do so.
We may also remove the depositary at any time. Any such resignation or removal will take effect
upon the appointment of a successor depositary and its acceptance of such appointment. The
successor depositary must be appointed within 60 days after delivery of the notice for resignation
or removal. In addition, the successor depositary must be a bank or trust company having its
principal office in the United States of America and must have a combined capital and surplus of at
least $150,000,000.
Federal Income Tax Consequences
Owners of the depositary shares will be treated for Federal income tax purposes as if they
were owners of the preferred stock underlying the depositary shares. Accordingly, the owners will
be entitled to take into account for Federal income tax purposes income and deductions to which
they would be entitled if they were holders of the preferred stock. In addition:
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no gain or loss will be recognized for Federal income tax purposes upon the withdrawal
of preferred stock in exchange for depositary shares; |
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the tax basis of each share of preferred stock to an exchanging owner of depositary
shares will, upon the exchange, be the same as the aggregate tax basis of the depositary
shares exchanged; and |
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the holding period for preferred stock in the hands of an exchanging owner of
depositary shares will include the period during which the person owned the depositary
shares. |
-16-
DESCRIPTION OF COMMON STOCK
As of the date of this prospectus, we are authorized to issue up to 199,000,000 shares of
common stock, without par value. As of January 30, 2009, 62,575,079 shares of common stock were
outstanding. The common stock is listed on the New York Stock Exchange under the symbol HRC.
Dividends
Holders of common stock are entitled to receive dividends out of any assets legally available
for payment of dividends as may from time to time be declared by our Board of Directors, subject to
the rights of the holders of preferred stock.
Voting
Each holder of common stock is entitled to one vote per share on all matters requiring a vote
of the stockholders, including, without limitation, the election of directors. The holders of
common stock do not have cumulative voting rights.
Rights Upon Liquidation
In the event of our voluntary or involuntary liquidation, dissolution, or winding up, the
holders of common stock will be entitled to share equally in our assets available for distribution
after payment in full of all debts and after the holders of preferred stock have received their
liquidation preferences in full.
Board Of Directors
Our amended and restated articles of incorporation and amended and restated code of by-laws
provide that our board of directors shall be divided into three classes each consisting of an
equal, or as nearly equal as possible, number of directors. Each class will be elected for a
three-year term, and the term of each class will expire in succeeding years. It will, therefore,
require elections in three consecutive years to reelect or to replace our entire board of
directors. At any meeting of our board of directors, a majority of the total number of the
directors constitutes a quorum.
Miscellaneous
Shares of common stock are not redeemable and have no subscription, conversion or preemptive
rights.
-17-
DESCRIPTION OF WARRANTS
We may issue warrants for the purchase of debt securities, preferred stock or common stock.
Warrants may be issued independently or together with our debt securities, preferred stock or
common stock and may be attached to or separate from any offered securities. Each series of
warrants will be issued under a separate warrant agreement to be entered into between us and a bank
or trust company, as warrant agent. The warrant agent will act solely as our agent in connection
with the warrants and will not have any obligation or relationship of agency or trust for or with
any holders or beneficial owners of warrants. A copy of the warrant agreement will be filed with
the SEC in connection with any offering of warrants.
The prospectus supplement relating to a particular issue of warrants to purchase debt
securities, preferred stock or common stock will describe the terms of those warrants, including
the following, to the extent applicable:
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the title of the warrants; |
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the offering price for the warrants, if any; |
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the aggregate number of the warrants; |
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the designation and terms of the debt securities, preferred stock or common stock that
may be purchased upon exercise of the warrants; |
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if applicable, the designation and terms of the securities that the warrants are
issued with and the number of warrants issued with each security; |
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if applicable, the date from and after which the warrants and any securities issued
with them will be separately transferable; |
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the principal amount of debt securities that may be purchased upon exercise of a
warrant and the price at which the debt securities may be purchased upon exercise; |
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the number of shares of preferred stock or common stock that may be purchased upon
exercise of a warrant and the price at which the shares may be purchased upon exercise; |
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the dates on which the right to exercise the warrants will commence and expire; |
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if applicable, the minimum or maximum amount of the warrants that may be exercised at
any one time; |
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whether the warrants represented by the warrant certificates or debt securities that
may be issued upon exercise of the warrants will be issued in registered or bearer form; |
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information relating to book-entry procedures, if any; |
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the currency or currency units in which the offering price, if any, and the exercise
price are payable; |
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if applicable, a discussion of material United States federal income tax
considerations; |
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anti-dilution provisions of the warrants, if any; |
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redemption or call provisions, if any, applicable to the warrants; |
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any additional terms of the warrants, including terms, procedures and limitations
relating to the exchange and exercise of the warrants; and |
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any other information we think is important about the warrants. |
-18-
DESCRIPTION OF SECURITIES PURCHASE CONTRACTS
AND SECURITIES PURCHASE UNITS
This section describes the general terms of the securities purchase contracts and securities
purchase units that Hill-Rom may offer and sell by this prospectus. This prospectus and any
accompanying prospectus supplement will contain the material terms and conditions for each
securities purchase contract and securities purchase unit. The accompanying prospectus supplement
may add, update or change the terms and conditions of the securities purchase contracts and
securities purchase units as described in this prospectus.
Stock Purchase Contracts and Stock Purchase Units
We may issue stock purchase contracts, representing contracts obligating holders to purchase
from us, and obligating us to sell to the holders, a specified number of shares of common stock or
preferred stock at a future date or dates, or a variable number of shares of common stock or
preferred stock for a stated amount of consideration. The price per share and the number of shares
of common stock or preferred stock may be fixed at the time the stock purchase contracts are issued
or may be determined by reference to a specified formula set forth in the stock purchase contracts.
Any such formula may include anti-dilution provisions to adjust the number of shares of common
stock or preferred stock issuable pursuant to the stock purchase contracts upon certain events.
The stock purchase contracts may be issued separately or as a part of units consisting of a
stock purchase contract and, as security for the holders obligations to purchase the shares under
the stock purchase contracts, either (a) our senior debt securities or subordinated debt securities
or, (b) debt obligations of third parties, including U.S. Treasury securities. The stock purchase
contracts may require us to make periodic payments to the holders of the stock purchase units or
vice versa, and such payments may be unsecured or prefunded on some basis. The stock purchase
contracts may require holders to secure their obligations in a specified manner, and in certain
circumstances we may deliver newly issued prepaid stock purchase contracts upon release to a holder
of any collateral securing such holders obligations under the original stock purchase contract.
Debt Purchase Contracts and Debt Purchase Units
We may issue debt purchase contracts, representing contracts obligating holders to purchase
from us, and obligating us to sell to the holders, a specified principal amount of debt securities
at a future date or dates. The purchase price and the interest rate may be fixed at the time the
debt purchase contracts are issued or may be determined by reference to a specific formula set
forth in the debt purchase contracts.
The debt purchase contracts may be issued separately or as a part of units consisting of debt
purchase contracts and, as security for the holders obligations to purchase the securities under
the debt purchase contracts, either (a) our senior debt securities or subordinated debt securities
or (b) debt obligations of third parties, including U.S. Treasury securities. The debt purchase
contracts may require us to make periodic payments to the holders of the debt purchase units or
vice versa, and such payments may be unsecured or prefunded on some basis. The debt purchase
contracts may require holders to secure their obligations in a specified manner and in certain
circumstances we may deliver newly issued prepaid debt purchase contracts upon release to a holder
of any collateral securing such holders obligations under the original debt purchase contract.
The prospectus supplement will describe the general terms of any purchase contracts or
purchase units and, if applicable, prepaid purchase contracts. The description in the prospectus
supplement will not purport to be complete and will be qualified in its entirety by reference to
(a) the purchase contracts, (b) the collateral arrangements and depositary arrangements, if
applicable, relating to such purchase contracts or purchase units and (c) if applicable, the
prepaid purchase contracts and the document pursuant to which such prepaid purchase contracts will
be issued. Material United States federal income tax considerations applicable to the purchase
contracts and the purchase units will also be discussed in the prospectus supplement.
-19-
PLAN OF DISTRIBUTION
We may sell the securities:
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through underwriters or dealers; |
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through agents; or |
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directly to purchasers. |
We will describe in a prospectus supplement the particular terms of the offering of the
securities, including the following:
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the names of any underwriters; |
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the purchase price and the proceeds we will receive from the sale; |
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any underwriting discounts and other items constituting underwriters compensation; |
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any initial public offering price and any discounts or concessions allowed or
reallowed or paid to dealers; |
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any securities exchanges on which the securities of the series may be listed; and |
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any other information we think is important. |
If we use underwriters in the sale, the underwriters will acquire the securities for their own
account. The underwriters may resell the securities in one or more transactions, including
negotiated transactions, at a fixed public offering price or at varying prices determined at the
time of sale. The securities may be either offered to the public through underwriting syndicates
represented by managing underwriters or by underwriters without a syndicate. The obligations of the
underwriters to purchase the securities will be subject to certain conditions. The underwriters
will be obligated to purchase all the securities of the series offered if any of the securities are
purchased. The underwriters may change from time to time any initial public offering price and any
discounts or concessions allowed or re-allowed or paid to dealers.
We may sell offered securities through agents designated by us. Any agent involved in the
offer or sale of the securities for which this prospectus is delivered will be named, and any
commissions payable by us to that agent will be set forth, in the prospectus supplement. Unless
indicated in the prospectus supplement, the agents will use their reasonable best efforts to
solicit purchases for the period of their appointment.
We also may sell offered securities directly. In this case, no underwriters or agents would be
involved.
We may authorize agents or underwriters to solicit offers by certain types of institutions to
purchase securities from us at the public offering price set forth in the prospectus supplement
pursuant to delayed delivery contracts. These contracts will provide for payment and delivery on a
specified date in the future. The conditions to these contracts and the commissions payable for
solicitation of such contracts will be set forth in the applicable prospectus supplement.
One or more firms, referred as remarketing firms, may also offer or sell the debt
securities, if a prospectus supplement so indicates, in connection with a remarketing arrangement
upon the purchase of the debt securities. Remarketing firms will act as principals for their own
accounts or as agents for us. These remarketing firms will offer or sell the debt securities in
accordance with a redemption or repayment pursuant to the terms of the debt securities. The
prospectus supplement will identify any remarketing firm and terms of the agreement, if any, with
us and will describe the remarketing firms compensation. Remarketing firms may be deemed to be
underwriters in connection with the debt securities they remarket. Remarketing firms may be
entitled under agreements that may be entered into with us to indemnification by us against certain
civil liabilities, including liabilities under the Securities Act, or to contribution with respect
to payments which they may be required to make because of those liabilities.
-20-
Remarketing firms or their affiliates may engage in transaction with, or perform services for,
us or our affiliates in the ordinary course of their business.
We may engage in at the market offerings only of our common stock. An at the market offering
is an offering of our common stock at other than a fixed price into an existing trading market for
our common stock. Any underwriter that we engage for an at the market offering would be named in
a prospectus supplement. Additional details of our arrangement with the underwriter, including
commissions or fees paid by us and whether the underwriter is acting as principal or agent, would
be described in the related prospectus supplement.
Underwriters, dealers and agents that participate in the distribution of the offered
securities may be underwriters as defined in the Securities Act, and any discounts or commissions
received by them from us and any profit on the resale of the offered securities by them may be
treated as underwriting discounts and commissions under the Securities Act. We will identify any
underwriters or agents, and describe their compensation, in a prospectus supplement.
Certain of any such underwriters and agents, including their associates, may be customers of,
engage in transactions with or perform services for us and our subsidiaries in the ordinary course
of business. One or more of our affiliates may from time to time act as an agent or underwriter in
connection with the sale of the securities to the extent permitted by applicable law. The
participation of any such affiliate in the offer and sale of the securities will comply with Rule
2720 of the Conduct Rules of the National Association of Securities Dealers regarding the offer and
sale of securities of an affiliate.
We may have agreements with the underwriters, dealers and agents to indemnify them against
certain civil liabilities, including liabilities under the Securities Act, or to contribute with
respect to payments which the underwriters, dealers or agents may be required to make.
In order to facilitate the offering of the securities, any underwriters or agents, as the case
may be, involved in the offering of the securities may engage in transactions that stabilize,
maintain or otherwise affect the price of the securities being offered or any other securities the
prices of which may be used to determine payments on the securities being offered. Specifically,
the underwriters or agents, as the case may be, may overallot in connection with the offering,
creating a short position in the securities for their own account. In addition, to cover
overallotments or to stabilize the price of the securities being offered or any such other
securities, the underwriters or agents, as the case may be, may bid for, and purchase, the
securities or any such other securities in the open market. Finally, in any offering of securities
through a syndicate of underwriters, the underwriting syndicate may reclaim selling concessions
allotted to an underwriter or a dealer for distributing the securities in the offering if the
syndicate repurchases previously distributed securities in transactions to cover syndicate short
positions, in stabilization transactions or otherwise. Any of these activities may stabilize or
maintain the market price of the securities above independent market levels. The underwriters or
agents, as the case may be, are not required to engage in these activities, and may end any of
these activities at any time.
Some or all of the securities may be new issues of securities with no established trading
market. Any underwriter to which securities are sold by us for public offering and sale may make a
market in the securities, but will not be obligated to do so, and may discontinue any market making
at any time without notice. We cannot and will not give any assurances as to the liquidity of the
trading market for any of our securities.
-21-
LEGAL MATTERS
The validity of shares of common stock and preferred stock to be offered by Hill-Rom will be
passed upon for Hill-Rom by Barnes & Thornburg LLP, Indianapolis, Indiana. The validity of the
other securities to be offered by Hill-Rom will be passed upon for Hill-Rom by Bracewell & Giuliani
LLP, Houston, Texas. If the securities are being distributed in an underwritten offering, the
validity of the securities will be passed upon for the underwriters by counsel identified in the
related prospectus supplement.
EXPERTS
The financial statements and managements assessment of the effectiveness of internal control
over financial reporting (which is included in Managements Report on Internal Control over
Financial Reporting) incorporated in this prospectus by reference to the Annual Report on Form 10-K
for the year ended September 30, 2008 have been so incorporated in reliance on the reports of
PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the
authority of said firm as experts in auditing and accounting.
-22-
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 14. Other Expenses Of Issuance And Distribution.
The following sets forth the expenses in connection with the issuance and distribution of the
securities being registered hereby, other than underwriting discounts and commissions. All amounts
are estimated.
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SEC Registration Fee |
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* |
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Printing expenses |
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75,000 |
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Legal fees and expenses |
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200,000 |
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Accounting fees and expenses |
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125,000 |
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Trustee fees and expenses (including counsel fees) |
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25,000 |
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Rating agency fees |
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200,000 |
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Miscellaneous |
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50,000 |
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Total |
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675,000 |
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* |
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Deferred in accordance with Rules 456(b) and 457(r) |
Item 15. Indemnification of Directors and Officers.
Chapter 37 of the Indiana Business Corporation Law authorizes every Indiana corporation to
indemnify its officers and directors under certain circumstances against liability incurred in
connection with proceedings to which the officers of directors are made a party by reason of their
relationship to the corporation. Officers and directors may be indemnified where they have acted
in good faith, the action taken was not against the interests of the corporation, and the action
was lawful or there was no reason or cause to believe the action was unlawful. Chapter 37 also
requires every Indiana corporation to indemnify any of its officers or directors (unless limited by
the articles of incorporation of the corporation) who were wholly successful, on the merits or
otherwise, in the defense of any such proceeding against reasonable expenses incurred in connection
with the proceeding. A corporation may also, under certain circumstances, pay for or reimburse the
reasonable expenses incurred by an officer or director who is a party to a proceeding in advance of
final disposition of the proceeding.
Section 8.6 of our amended and restated articles of incorporation provides that we may
indemnify our officers and directors against all liability and reasonable expenses incurred by such
a person on account of or arising out of that persons relationship to us, provided that the party
to be indemnified satisfies the requirements of Chapter 37 of the Indiana Business Corporation Law.
Chapter 37 states that the indemnification provided for therein is not exclusive of any other
rights to which a person may be entitled under, among other things, any other agreement. We have
entered into indemnification agreements with our directors and certain of our officers which are
broader than the mandatory indemnification provisions of Chapter 37. Generally, these
indemnification agreements obligate us to indemnify each director to the full extent permitted by
the laws of the State of Indiana. Indemnification is required against judgments, fines, amounts
paid in settlement and reasonable expenses, including attorneys fees, actually and necessarily
incurred in connection with the defense or settlement of a claim, made against the director or
officer by reason of his or her service in such role for us. Indemnification is not available in
certain circumstances, including where the director or officer derived an improper personal
benefit, where a court determines that indemnification is not lawful under any applicable statute
or public policy or in connection with any proceeding initiated by the officer or director unless
required by law, authorized by the Board of Directors or related to enforcement of the
indemnification agreement.
We carry directors and officers liability insurance that covers certain liabilities and
expenses of our directors and officers.
II-1
Item 16. Exhibits.
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EXHIBIT NO. |
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(1) (a)
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Form of Underwriting Agreement for debt securities* |
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(1) (b)
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Form of Underwriting Agreement for equity securities* |
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(4) (a)
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Indenture dated as of December 1, 1991, between Hill-Rom
Holdings, Inc. and Union Bank of California, N.A. (as successor
to Harris Trust and Savings Bank and LaSalle Bank National
Association) as Trustee (incorporated by reference to Exhibit
(4) (a) to Registration Statement on Form S-3, Registration No.
33-44086) |
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(4) (b)
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Form of Indenture for subordinated debt securities |
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(4) (c)
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Form of senior debt security (included in Exhibit (4) (a)) |
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(4) (d)
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Form of subordinated debt security* |
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(4) (e)
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Articles of Amendment to Articles of Incorporation designating a
series of preferred stock* |
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(4) (f)
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Form of preferred stock certificate* |
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(4) (g)
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Form of Deposit Agreement* |
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(4) (h)
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Form of Depositary Receipt (to be included as an exhibit to the
Form of Deposit Agreement)* |
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(4) (i)
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Form of Warrant Agreement* |
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(4) (j)
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Form of Warrant Certificate (to be included as an exhibit to the
Form of Warrant Agreement)* |
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(5) (a)
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Opinion of Barnes & Thornburg LLP |
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(5) (b)
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Opinion of Bracewell & Giuliani LLP |
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(12)
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Computation of Ratio of Earnings to Fixed Charges |
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(23) (a)
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Consent of PricewaterhouseCoopers LLP |
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(23) (b)
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Consent of Barnes & Thornburg LLP (included in Exhibit (5) (a)) |
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(23) (c)
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Consent of Bracewell & Giuliani LLP (included in Exhibit (5) (b)) |
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(24)
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Powers of Attorney (set forth on signature page) |
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(25) (a)
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Statement of Eligibility on Form T-1 of Union Bank of
California, N.A. as Trustee under the Indenture filed as Exhibit (4) (a) |
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(25) (b)
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Statement of Eligibility on Form T-1 of Trustee under the
Indenture for subordinated debt securities filed as Exhibit (4) (b)* |
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(*) |
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To be filed by amendment or on a Form 8-K |
Item 17. UNDERTAKINGS.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
II-2
(i) To include any prospectus required by Section 10(a)(3) of the Securities
Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the SEC pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than
20 percent change in the maximum aggregate offering price set forth in the
Calculation of Registration Fee table in the effective registration statement.
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
provided, however, that paragraphs (a(l)(i), (a)(l)(ii) and (a)(l)(iii) do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement, or is contained in a form of prospectus filed
pursuant to Rule 424(b) that is part of the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(4) That, for the purpose of determining liability under the Securities Act of 1933 to
any purchaser:
(i) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall
be deemed to be part of the registration statement as of the date the filed
prospectus was deemed part of and included in the registration statement; and
(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5)
or (b)(7) as part of a registration statement in reliance on Rule 430B relating to
an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of
providing the information required by section 10(a) of the Securities Act of 1933
shall be deemed to be part of and included in the registration statement as of the
earlier of the date such form of prospectus is first used after effectiveness or the
date of the first contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
person that is at that date an underwriter, such date shall be deemed to be a new
effective date of the registration statement relating to the securities in the
registration statement to which that prospectus relates, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof. Provided, however, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement or
prospectus that is part of the registration statement will, as to a purchaser with a
time of contract of sale prior to such effective date, supersede or modify any
statement that was made in the registration statement or prospectus that was part of
the registration statement or made in any such document immediately prior to such
effective date.
II-3
(5) That, for the purpose of determining liability of the registrant under the
Securities Act of 1933 to any purchaser in the initial distribution of the securities, the
undersigned registrant undertakes that in a primary offering of securities of the
undersigned registrant pursuant to this registration statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the securities are
offered or sold to such purchaser by means of any of the following communications, the
undersigned registrant will be a seller to the purchaser and will be considered to offer or
sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned registrant
relating to the offering required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on
behalf of such undersigned registrant or used or referred to by the undersigned
registrant;
(iii) The portion of any other free writing prospectus relating to the
offering containing material information about the undersigned registrant or its
securities provided by or on behalf of the undersigned registrant; and
(iv) Any other communication that is an offer in the offering made by the
undersigned registrant to the purchaser.
(b) |
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The undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the registrants annual report pursuant to
Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof. |
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(c) |
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The undersigned registrant hereby undertakes to file an application for the purpose of
determining the eligibility of the trustee to act under subsection (a) of Section 310 of the
Trust Indenture Act in accordance with the rules and regulations prescribed by the Commission
under Section 305(b)(2) of the Trust Indenture Act. |
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(d) |
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Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of such issue. |
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Batesville, state of Indiana, on February 13, 2009.
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HILL-ROM HOLDINGS, INC.
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By: |
/s/ Patrick D. de Maynadier
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Name: |
Patrick D. de Maynadier |
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Title: |
Senior Vice President, General Counsel
and Secretary |
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POWER OF ATTORNEY
Each person whose individual signature appears below constitutes and appoints Gregory N.
Miller, Patrick D. de Maynadier and Richard G. Keller, and each of them, with full power to act
without the other, his true and lawful attorneys-in-fact and agents, with full and several power of
substitution, for him and in his name, place and stead, in any and all capacities, to sign any or
all amendments, including post-effective amendments, to this registration statement and any
registration statement for the same offering covered by this registration statement that is to be
effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933, and to file the
same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission, granting unto such attorneys-in-fact and agents and each of them, full
power and authority to do and perform each and every act and thing requisite and necessary to be
done in and about the premises, as fully to all intents and purposes as they or he might or could
do in person, hereby ratifying and confirming all that such attorneys-in-fact and agents or any of
them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed below by the following persons in the capacities and on the dates indicated.
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NAME |
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TITLE |
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DATE |
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President, Chief Executive
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February 13, 2009 |
Peter H. Soderberg
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Officer and Director |
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Senior Vice President and
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February 13, 2009 |
Gregory N. Miller
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Chief Financial Officer |
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Vice President-Controller and
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February 13, 2009 |
Richard G. Keller
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Chief Accounting Officer |
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Chairman of the Board of
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February 13, 2009 |
Rolf A. Classon
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Directors |
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Director
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February 13, 2009 |
Charles E. Golden |
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II-5
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NAME |
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TITLE |
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DATE |
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Director
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February 13, 2009 |
W August Hillenbrand |
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Director
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February 13, 2009 |
Ronald A. Malone |
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Director
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February 13, 2009 |
Eduardo R. Menascé |
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Director
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February 13, 2009 |
Patrick T. Ryan |
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Director
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February 13, 2009 |
Joanne C. Smith |
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II-6
EXHIBIT INDEX
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EXHIBIT NO. |
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(1) (a)
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Form of Underwriting Agreement for debt securities* |
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(1) (b)
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Form of Underwriting Agreement for equity securities* |
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(4) (a)
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Indenture dated as of December 1, 1991, between Hill-Rom
Holdings, Inc. and Union Bank of California, N.A. (as successor
to Harris Trust and Savings Bank and LaSalle Bank National
Association) as Trustee (incorporated by reference to Exhibit
(4) (a) to Registration Statement on Form S-3, Registration No.
33-44086) |
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(4) (b)
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Form of Indenture for subordinated debt securities |
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(4) (c)
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Form of senior debt security (included in Exhibit (4) (a)) |
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(4) (d)
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Form of subordinated debt security* |
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(4) (e)
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Articles of Amendment to Articles of Incorporation designating a
series of preferred stock * |
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(4) (f)
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Form of preferred stock certificate* |
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(4) (g)
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Form of Deposit Agreement* |
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(4) (h)
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Form of Depositary Receipt (to be included as an exhibit to the
Form of Deposit Agreement)* |
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(4) (i)
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Form of Warrant Agreement* |
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(4) (j)
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Form of Warrant Certificate (to be included as an exhibit to the
Form of Warrant Agreement)* |
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(5) (a)
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Opinion of Barnes & Thornburg LLP |
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(5) (b)
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Opinion of Bracewell & Giuliani LLP |
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(12)
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Computation of Ratio of Earnings to Fixed Charges |
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(23) (a)
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Consent of PricewaterhouseCoopers LLP |
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(23) (b)
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Consent of Barnes & Thornburg LLP (included in Exhibit (5) (a)) |
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(23) (c)
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Consent of Bracewell & Giuliani LLP (included in Exhibit (5) (b)) |
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(24)
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Powers of Attorney (set forth on signature page) |
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(25) (a)
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Statement of Eligibility on Form T-1 of Union Bank of
California, N.A. as Trustee under the Indenture filed as Exhibit
(4) (a) |
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(25) (b)
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Statement of Eligibility on Form T-1 of Trustee under the
Indenture for subordinated debt securities filed as Exhibit (4)
(b)* |
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(*) |
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To be filed by amendment or on a Form 8-K |