UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
(AMENDMENT NO. 8)
TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
ELMER'S RESTAURANTS, INC.
(NAME OF SUBJECT COMPANY (ISSUER))
BRUCE N. DAVIS
LINDA ELLIS-BOLTON
KAREN K. BROOKS
RICHARD P. BUCKLEY
DAVID D. CONNOR
STEPHANIE M. CONNOR
THOMAS C. CONNOR
CORYDON H. JENSEN, JR.
DEBRA A. WOOLLEY-LEE
DOUGLAS A. LEE
DAVID C. MANN
SHEILA J. SCHWARTZ
GERALD A. SCOTT
WILLIAM W. SERVICE
DENNIS M. WALDRON
GARY N. WEEKS
GREG W. WENDT
RICHARD C. WILLIAMS
DOLLY W. WOOLLEY
DONALD W. WOOLLEY AND
DONNA P. WOOLLEY, TOGETHER
WITH ERI ACQUISITION CORP., AS OFFEROR
(NAMES OF FILING PERSONS (IDENTIFYING STATUS AS OFFEROR,
ISSUER OR OTHER PERSON))
COMMON STOCK, NO PAR VALUE
(TITLE OF CLASS OF SECURITIES)
289393
(CUSIP NUMBER OF CLASS OF SECURITIES)
JEFFREY C. WOLFSTONE, ESQ.
GREGORY L. ANDERSON, ESQ.
BENJAMIN G. LENHART, ESQ.
LANE POWELL PC
601 SW SECOND AVENUE, SUITE 2100
PORTLAND, OREGON 97204
(503) 778-2100
(NAME, ADDRESS, AND TELEPHONE NUMBERS OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS ON
BEHALF OF FILING PERSONS)
Calculation of Filing Fee
--------------------------------------------------------------------------------
Transaction valuation* Amount of filing fee**
$6,019,091 $708.45
--------------------------------------------------------------------------------
*Estimated for purposes of calculating the filing fee only. This calculation
assumes the purchase of 756,601 shares of common stock of Elmer's Restaurants,
Inc. at the tender offer price of $7.50 per share of common stock. The
transaction value also includes the offer price of $7.50 less $4.81, which is
the average exercise price of outstanding options, multiplied by 128,098, the
estimated number of options outstanding not held by the Filing Persons listed
above.
**The amount of filing fee, calculated in accordance with Rule 0-11 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Fee Rate
Advisory No. 6 for fiscal year 2005, equals $117.70 per million of transaction
value, or $708.45.
[X] Check the box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
Amount Previously Paid: $708.45
-------------------------
Form or Registration No.: SC TO-T/13E-3
---------------------------
Date Filed: December 20, 2004
---------------------------
Filing Party: Bruce N. Davis, Linda Ellis-Bolton,
Karen K. Brooks, Richard P. Buckley, David D. Connor, Stephanie M. Connor,
Thomas C. Connor, Corydon H. Jensen, Jr., Debra A. Woolley-Lee, Douglas A. Lee,
David C. Mann, Sheila J. Schwartz, Gerald A. Scott, William W. Service, Dennis
M. Waldron, Gary N. Weeks, Greg W. Wendt, Richard C. Williams, Dolly W. Woolley,
Donald W. Woolley, and Donna P. Woolley, together with ERI Acquisition Corp.
[ ] Check the box if the filing relates solely to preliminary
communications made before the commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which the
statement relates:
[X] third-party tender offer subject to Rule 14d-l.
[ ] issuer tender offer subject to Rule 13e-4.
[X] going-private transaction subject to Rule 13e-3.
[X] amendment to Schedule 13D under Rule 13d-2.
Check the following box if the filing is a final amendment reporting the results
of the tender offer: [ ]
2
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Linda Ellis-Bolton
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- -------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- -------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- -------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to ERI Acquisition
Corp. ("Purchaser") by its members for contribution upon the successful
completion of the tender offer by Purchaser and its members for the outstanding
common stock of Elmer's Restaurants, Inc. ("Elmer's") not owned by the members,
and 262,024 options to purchase common stock of Elmer's exercisable within 60
days from February 3, 2005 that may be exercised and contributed to Purchaser.
3
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Karen K. Brooks
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
4
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Richard P. Buckley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
5
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Thomas C. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
6
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
David D. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
7
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Stephanie M. Connor
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
8
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Bruce N. Davis
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
9
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Corydon H. Jensen, Jr.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
10
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Douglas A. Lee
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
11
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Debra A. Woolley-Lee
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
12
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
David Mann
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
13
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Sheila J. Schwartz
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
14
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Gerald A. Scott
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
15
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
William W. Service
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
16
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Dennis M. Waldron
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
17
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Gary M. Weeks
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
18
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Greg W. Wendt
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
19
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Richard C. Williams
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
20
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Dolly W. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
21
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Donald W. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
22
--------------------------------------------------------------------------------
CUSIP No. 289393
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Donna P. Woolley
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
----- --------------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X| (b) |_|
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------------------- ---------- -------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES BENEFICIALLY
OWNED BY EACH -0- shares
REPORTING PERSON ---------- --------------------------------------------------
WITH 8 SHARED VOTING POWER
-1,348,368- shares*
---------- --------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0- shares
---------- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
-1,348,368- shares*
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,348,368*
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES |_|
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 64.05%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN
----- --------------------------------------------------------------------------
* The number of shares includes 1,086,344 shares pledged to Purchaser by its
members for contribution upon the successful completion of the tender offer by
Purchaser and its members for the outstanding common stock of Elmer's not owned
by the members, and 262,024 options to purchase common stock of Elmer's
exercisable within 60 days from February 3, 2005 that may be exercised and
contributed to Purchaser.
23
This Amendment No. 8 amends and /or supplements the Tender Offer Statement and
Rule 13e-3 Transaction Statement filed under cover of Schedule TO filed on
December 20, 2004 by ERI Acquisition Corp., a newly formed Oregon corporation
("Purchaser") and the individuals listed thereon, as amended and/or supplemented
by Amendment No. 1 filed on January 11, 2005; as further amended and/or
supplemented by Amendment No. 2 filed on January 13, 2005; as further amended
and/or supplemented by Amendment No. 3 filed January 18, 2005; as further
amended and/or supplemented by Amendment No. 4 filed on January 19, 2005; as
further amended and/or supplemented by Amendment No. 5 filed January 19, 2005;
as further amended and/or supplemented by Amendment No. 6 filed January 21,
2005; and as further amended and/or supplemented by Amendment No. 7 filed
February 3, 2005 (the original filing together with all amendments and
supplements, collectively, the "Schedule TO"). The Schedule TO relates to
Purchaser's offer to purchase all of the outstanding shares of common stock, no
par value per share (the "Shares"), of Elmer's Restaurants, Inc., an Oregon
corporation ("Elmer's"), not currently owned by the Continuing Shareholders (as
defined in the Offer to Purchase), at a purchase price of $7.50 per Share, in
cash, upon the terms and subject to the conditions set forth in the Offer to
Purchase dated December 20, 2004, as amended and restated January 18, 2005 (the
"Offer to Purchase") and in the related Letter of Transmittal, as amended.
The information and exhibits set forth in the Offer to Purchase and in the
related Letter of Transmittal are expressly incorporated herein by reference in
response to all of the Items of this Amendment, including without limitation all
of the information required by Schedule 13E-3 that is not included in or covered
by the items in the Schedule TO. In addition, the information set forth in Items
1 through 13 of the Schedule TO are incorporated herein by reference with
respect to Items 1 through 13 of this Amendment, except those Items as to which
information specifically provided herein is relevant, in which case the
information contained in the Schedule TO is incorporated herein by reference in
partial answer to those Items unless otherwise noted hereto.
For purposes of this Amendment, all references to the Offer to Purchase that are
expressly set forth in this Amendment or incorporated herein by reference from
other documents specifically refer to the amended and restated Offer to Purchase
dated January 18, 2005, unless otherwise stated herein.
This Amendment also constitutes an amendment to the Schedule 13D filed on August
6, 2004, as amended by Amendment No. 1 filed on August 9, 2004; as amended and
restated by Amendment No. 2 filed November 19, 2004; and by Amendment No. 4 to
the Schedule TO filed January 19, 2005, by Purchaser and the Continuing
Shareholders.
--------------------------------------------------------------------------------
ITEM 1. SUMMARY TERM SHEET.
The section titled "Summary Term Sheet" is hereby amended and/or
supplemented by:
1. The first bullet point on page 2 has been amended to include the
following sentence as the second to last sentence: "If we effect the
Merger, shareholders who did not tender in the Offer will receive
additional information regarding the Merger pursuant to our filing,
disclosure and dissemination requirements under Securities and Exchange
Commission ("SEC") Rule 13e-3."
The section titled "Questions and Answers About the Tender Offer" has
been amended and/or supplemented by:
1. amending the filing on page 10 such that the question and answer
regarding the financial analysis reads in its entirety as follows:
"Have you received a financial analysis regarding the consideration to
be received by the shareholders in the Offer and the Merger?
Yes. Our financial advisor, Veber Partners, LLC, has delivered
to us a financial analysis concluding that, as of August 5, 2004, $6.57
per Share constitutes fair value for such Shares. You should be aware,
however, that Veber Partners' conclusion (a) does not take into account
the Offer (rather, it provides our financial advisor's conclusion as to
the fair value of one Share in the abstract and without taking into
account the existence or success of the Offer), (b) was obtained for
the purpose of supporting our views on the substantive fairness of the
Offer, and (c) was based on and subject to important assumptions,
limitations and qualifications. In addition, in light of Veber
Partners' work in prior years with the Company and certain of the
Continuing Shareholders, we believe actual or potential conflicts of
interest may exist such that Veber Partners would not qualify as an
independent third party. See "Special Factors--Section 3. Analysis of
Veber Partners, LLC" for more information regarding the analysis and
Veber Partners' actual or potential conflicts of interest and Exhibit
(c) to Schedule TO for a full copy of the analysis.
24
We considered whether to obtain a more recent financial
analysis than August 5, 2004 using the Company's financial data up to
the period ended March 29, 2004. As part of this consideration, we took
into account the following:
o The decline in, among other things, the Company's revenues
and income for the twenty-eight week period ended October
11, 2004, as reported in the Company's Quarterly Report on
Form 10-Q; and
o Our views that the public announcement of the proposed
going private transaction caused a higher Share price on
the open market than otherwise might have been the case in
the absence of such announcement.
Evaluating the foregoing factors in their entirety, and our belief that
a more recent financial analysis would not have provided investors with
any meaningfully better information regarding the value of the Company
in connection with their decision to tender Shares in the Offer, we
concluded that the financial analysis dated August 5, 2004 served its
intended purpose and decided not to obtain a more recent financial
analysis."
ITEM 2. SUBJECT COMPANY INFORMATION.
(c) Section (c) of Item 2 is amended and/or supplemented by the following:
1. by amending the filing on page 68 to delete the second sentence of
the first full paragraph, which reads "The inclusion of this
information should not be regarded as an indication that anyone who
received this information considered it a reliable predictor of future
events, and this information should not be relied on as such."
ITEM 4. TERMS OF THE TRANSACTION.
(a) Section 4(a) of Item 4 is hereby amended and/or supplemented by the
following:
1. by amending the first full paragraph on page 20 of the filing to
delete the sentence "Purchaser and the Continuing Shareholders are not
obligated to publicly update or revise any forward-looking statement,
whether as a result of new information, future results, or for any
other reason, except as may be required by federal securities laws"
such that such paragraph now reads in its entirety:
"There may also be other factors that are currently not identifiable or
quantifiable, but may arise or become known in the future.
Forward-looking statements speak only as of the date the statement was
made. Purchaser and the Continuing Shareholders have a duty to, and
will, amend the Offer to Purchase to reflect material changes in the
information disclosed herein as set forth in Rule 13e-3(d)(2), Rule
13e-3(f)(1)(iii) and Rule 14d-3(b)."
ITEM 8. INTEREST IN SECURITIES OF THE SUBJECT COMPANY.
(a). Section (a) of Item 8 is amended and/or restated by the following:
1. by amending and restating the table on page 74 to read in its
entirety as follows:
Amount Shared Voting Sole Shared
Name of Continuing Shareholder Beneficially Percentage of Sole Voting Power Dispositive Dispositive
Owned(1)(2) Class(3) Power Power Power
------------------------------ ------------ ------------- ----------- ------------- ----------- -----------
Linda Ellis-Bolton 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Karen K. Brooks 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Richard P. Buckley 1,348,368 64.05% -- 1,348,368 -- 1,348,368
David D. Connor 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Stephanie M. Connor 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Thomas C. Connor 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Bruce N. Davis 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Corydon H. Jensen 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Douglas A. Lee 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Debra A. Woolley-Lee 1,348,368 64.05% -- 1,348,368 -- 1,348,368
David C. Mann 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Sheila J. Schwartz 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Gerald A. Scott 1,348,368 64.05% -- 1,348,368 -- 1,348,368
William W. Service 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Dennis M. Waldron 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Gary N. Weeks 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Gregory W. Wendt 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Richard C. Williams 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Dolly W. Woolley 1,348,368 64.05% -- 1,348,368 -- 1,348,368
25
Amount Shared Voting Sole Shared
Name of Continuing Shareholder Beneficially Percentage of Sole Voting Power Dispositive Dispositive
Owned(1)(2) Class(3) Power Power Power
------------------------------ ------------ ------------- ----------- ------------- ----------- -----------
Donald W. Woolley 1,348,368 64.05% -- 1,348,368 -- 1,348,368
Donna P. Woolley 1,348,368 64.05% -- 1,348,368 -- 1,348,368
(1) The Shares beneficially owned by each of the Continuing
Shareholders are held by the Continuing Shareholders as members of a group.
Under Rule 13d-5(a) of the Exchange Act, when two or more persons agreed to act
together for the purpose of acquiring equity securities of an issuer, the group
formed thereby shall be deemed to have acquired beneficial ownership, for
purposes of Section (13(d) and 13(g) of the Exchange Act, of all equity
securities of that issuer beneficially owned by any such person. The number of
Shares that such Continuing Shareholder individually owns of record (including
options exercisable within 60 days from February 3, 2005) is as follows: Linda
Ellis-Bolton, 84,847; Karen K. Brooks, 91,062; Richard P. Buckley, 84,278; David
D. Connor, 78,423; Stephanie M. Connor, 39,212; Thomas C. Connor, 57,790; Bruce
N. Davis, 145,603; Corydon H. Jensen, 103,425; Douglas A. Lee, 16,595; Debra A.
Woolley-Lee, 16,594; David C. Mann, 89,062; Sheila J. Schwartz, 84,847; Gerald
A. Scott, 42,537; William W. Service, 149,792; Dennis M. Waldron, 2,000; Gary N.
Weeks, 108,421; Gregory W. Wendt, 5,000; Richard C. Williams, 36,194; Dolly W.
Woolley, 39,212; Donald W. Woolley, 57,789; and Donna P. Woolley, 15,685.
(2) Includes Shares issuable upon exercise of options held by certain
of the Continuing Shareholders within 60 days from February 3, 2005. The number
of Shares that each of the Continuing Shareholders has a right to acquire within
60 days from February 3, 2005 is as follows: Mr. Thomas C. Connor, 18,578; Mr.
Davis, 78,829; Mr. Jensen, 18,578; Mr. Scott, 26,854; Mr. Service, 80,029; Mr.
Waldron, 2,000; Mr. Williams, 18,578; and Mr. Donald W. Woolley, 18,578.
(3) Based on 1,842,945 shares of Common Stock deemed outstanding as of
February 3, 2005 (as reported by the Company to Purchaser and the Continuing
Shareholders) as adjusted for each Continuing Shareholder to include outstanding
options exercisable by any of the Continuing Shareholder within sixty days of
February 3, 2005.
ITEM 11. ADDITIONAL INFORMATION.
(a). Section (a) of Item 11 is amended and/or restated by the following:
1. by amending the first bullet point on page 86 to read in its
entirety as follows:
o Any materially adverse change in the business, properties, assets,
liabilities, capitalization, shareholders' equity, financial
condition, operations, results of operations or prospects of
Elmer's.
2. by amending the first full paragraph on page 87 to delete the
first sentence reading "Notwithstanding the fact that Purchaser and the
Continuing Shareholders reserve the right to assert the occurrence of a
condition following acceptance of properly tendered Shares for payment
but prior to payment for such Shares, Purchaser will either promptly
pay for such Shares or promptly return such Shares in order to delay
payment or cancel its obligation to pay for properly tendered shares."
ITEM 12. EXHIBITS.
(a)(1)(xviii) Supplement describing Offer amendments issued by Purchaser
dated February 8, 2005.
(a)(1)(xix) Shareholder Letter regarding OTR broker instructions dated
February 8, 2005.
(a)(1)(xx) Shareholder Letter regarding broker instructions dated
February 8, 2005.
ITEM 13. INFORMATION REQUIRED BY SCHEDULE 13E-3.
Item 13 disclosing "Item 8. Fairness of the Transaction" of Schedule
13E-3 is hereby amended and/or supplemented by the following:
1. by amending the first paragraph on page 44 to read in its entirety
as follows:
"Rule 13e-3 and related rules under the Exchange Act require Purchaser
and each of the Continuing Shareholders, as affiliates of the Company,
to express their reasonable belief as to the fairness of the Offer to
the Company's shareholders who are not affiliated with Purchaser and
the Continuing Shareholders, including those shareholders who tenders
their Shares in the Offer ("Tendering Shareholders") and those
shareholders who elect not to tender their Shares in the Offer
("Non-Tendering Shareholders")."
2. by amending the second full paragraph on page 44 to read in its
entirety as follows:
"Purchaser and each of the Continuing Shareholders believe that the
Offer and the Merger are both substantively and procedurally fair both
to Tendering Shareholders and Non-Tendering Shareholders. Purchaser and
the Continuing Shareholders base their belief on their observations of
the following factors, each of which, in their judgment, supports their
views as to the fairness of the Offer and the Merger:"
26
3. by amending the first sentence of the full paragraph following the
bullet-points on page 46 to read in its entirety as follows:
"The Offer Price represents a 34% premium relative to the Company's net
book value of $5.59 per share as reported on the Company's most recent
Form 10-Q for the twenty-eight weeks ended October 11, 2004 filed with
the SEC, and a 41.5% premium relative to the Company's net book value
of $5.30 per share as reported on the Company's Form 10-K for the
fiscal year ended March 29, 2004 filed with the SEC."
4. by amending the final bullet point on page 47 to read in its
entirety as follows:
"The absence of a fairness opinion from an independent third party."
5. by amending the final full paragraph on page 48 to read in its
entirety as follows:
"Neither Purchaser and the Continuing Shareholders nor the Company have
requested or sought to obtain any report, opinion or appraisal from an
independent third party relating to the consideration or fairness of
the consideration offered to the shareholders of Elmer's unaffiliated
with Purchaser or the Continuing Shareholders. Although Purchaser and
the Continuing Shareholders did obtain the Analysis, in light of Veber
Partners' work in prior years with the Company and certain of the
Continuing Shareholders (see "Special Factor--Section 3. Analysis of
Veber Partners, LLC"), Purchaser and the Continuing Shareholders do not
believe Veber Partners would qualify as an independent third party. The
decision not to seek such a report, opinion or appraisal from an
independent third party poses certain risks to shareholders in
determining whether to tender their Shares. In particular, shareholders
would not have the benefit of having an independent analysis of the
Offer Price performed by a party that does not have actual or potential
conflicts of interest in the transaction, such as those of Veber
Partners (as mentioned above) or such as those described in "Special
Factors--Section 6. Conflicts of Interest."
6. by amending the final paragraph on page 64 to read in its entirety
as follows:
"INTENT TO TENDER. Mr. Dennis Miller, Elmer's Secretary and Corporate
Controller, is the only executive officer of the Company who is not
also a Continuing Shareholder. As of the date hereof, Purchaser and the
Continuing Shareholders are not aware (i) whether Mr. Miller believes
the Offer is fair, (ii) if he will exercise his options to purchase
Shares and, (iii) if he does, whether he intends to tender such Shares
in the Offer."
Item 13 disclosing "Item 9. Reports, Opinions, Appraisals and Certain
Negotiations" of Schedule 13E-3 is hereby amended and/or supplemented by the
following:
1. by amending the filing on page 42, the first full paragraph to add
as its third sentence this cross-reference: "See "The Offer--Section 7.
Certain Information Concerning the Company" for the recast results and
a complete description thereof and see Exhibit D to the Analysis
(attached as Exhibit (c) to this Schedule TO-T/13E-3) for the recast
results Veber Partners used in connection with the Analysis."
2. by amending the filing on page 36 to add the following sentence to
the end of the first paragraph:
"Veber Partners consented to the use of the Analysis, and the
disclosures related thereto, in the Offer to Purchase and in the
combined Schedule TO-T/13E-3 transaction statements, as amended, to
which the Offer to Purchase is attached as Exhibit (a)(1)(i)."
3. by amending the filing on page 36 to delete the word "solely" from
the first sentence of the second full paragraph such that such first
sentence now reads in its entirety:
"The Analysis was prepared for the use and benefit of Purchaser and the
Continuing Shareholders and is not intended to be and does not
constitute a recommendation to any Elmer's shareholder as to whether
such shareholder should take any action, such as voting on any matter
or tendering any Shares, in connection with the Offer or any other
potential transaction."
27
SIGNATURE
After due inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
Dated: February 8, 2005 ERI ACQUISITION CORP.
By: /s/ BRUCE N. DAVIS
--------------------------------
Name: Bruce N. Davis
Title: President and CEO
/s/ LINDA ELLIS-BOLTON /s/ GERALD A. SCOTT
------------------------------------ -------------------------------------
Linda Ellis-Bolton Gerald A. Scott
/s/ KAREN K. BROOKS /s/ SHEILA J. SCHWARTZ
------------------------------------ -------------------------------------
Karen K. Brooks Sheila J. Schwartz
/s/ RICHARD P. BUCKLEY /s/ WILLIAM W. SERVICE
------------------------------------ -------------------------------------
Richard P. Buckley William W. Service
/s/ DAVID D. CONNOR /s/ DENNIS M. WALDRON
------------------------------------ -------------------------------------
David D. Connor Dennis M. Waldron
/s/ STEPHANIE M. CONNOR /s/ GARY N. WEEKS
------------------------------------ -------------------------------------
Stephanie M. Connor Gary N. Weeks
/s/ THOMAS C. CONNOR /s/ GREGORY W. WENDT
------------------------------------ -------------------------------------
Thomas C. Connor Gregory W. Wendt
/s/ BRUCE N. DAVIS /s/ RICHARD C. WILLIAMS
------------------------------------ -------------------------------------
Bruce N. Davis Richard C. Williams
/s/ CORYDON H. JENSEN, JR. /s/ DOLLY W. WOOLLEY
------------------------------------ -------------------------------------
Corydon H. Jensen, Jr. Dolly W. Woolley
/s/ DEBORAH A. WOOLLEY-LEE /s/ DONALD W. WOOLLEY
------------------------------------ -------------------------------------
Debra A. Woolley-Lee Donald W. Woolley
/s/ DOUGLAS A. LEE /s/ DONNA P. WOOLLEY
------------------------------------ -------------------------------------
Douglas A. Lee Donna P. Woolley
/s/ DAVID C. MANN
------------------------------------
David C. Mann
28
EXHIBIT INDEX
EXHIBIT DESCRIPTION
(a)(1)(xviii) Supplement describing Offer amendments issued by Purchaser
dated February 8, 2005.
(a)(1)(xix) Shareholder Letter regarding OTR broker instructions dated
February 8, 2005.
(a)(1)(xx) Shareholder Letter regarding broker instructions dated
February 8, 2005.
29