As filed with the Securities and Exchange Commission on February 1, 2024
Registration No. 333-
Maryland | | | 52-2242751 |
(State or other jurisdiction of incorporation or organization) | | | (I.R.S. Employer Identification No.) |
Large accelerated filer | | | ☒ | | | Accelerated filer | | | ☐ |
Non-accelerated filer | | | ☐ | | | Smaller reporting company | | | ☐ |
| | ☐ | | | Emerging growth company | | | ☐ |
• | our Annual Report on Form 10-K for the fiscal year ended July 1, 2023, filed with the SEC on August 17, 2023; |
• | our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, filed with the SEC on November 9, 2023; |
• | our Current Reports on Form 8-K filed with the SEC on August 10, 2023, September 1, 2023, September 19, 2023, November 3, 2023, November 6, 2023, November 9, 2023 (second report filed), November 21, 2023 and November 27, 2023; |
• | the portions of our Definitive Proxy Statement on Schedule 14A filed with the SEC on September 22, 2023, which were incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended July 1, 2023; and |
• | the description of our common stock contained in our Registration Statement on Form 8-A, File No. 001-16153, including any amendment or report filed for the purpose of updating such description. |
• | the impact of economic conditions, recession and inflationary measures; |
• | the impact of the coronavirus pandemic; |
• | our exposure to international risks, including currency fluctuations and changes in economic or political conditions in the markets where we sell or source our products; |
• | our ability to retain the value of our brands and to respond to changing fashion and retail trends in a timely manner, including our ability to execute on our e-commerce and digital strategies; |
• | our ability to successfully implement the initiatives under our 2025 growth strategy; |
• | the effect of existing and new competition in the marketplace; |
• | our ability to control costs; |
• | the effect of seasonal and quarterly fluctuations on our sales or operating results; |
• | the risk of cyber security threats and privacy or data security breaches; |
• | our ability to protect against infringement of our trademarks and other proprietary rights; |
• | the impact of tax and other legislation; |
• | the risks associated with potential changes to international trade agreements and the imposition of additional duties on importing our products; |
• | our ability to achieve intended benefits, cost savings and synergies from acquisitions, including our proposed acquisition of Capri (as defined below); |
• | the satisfaction of the conditions precedent to consummation of the proposed acquisition of Capri, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; |
• | the impact of pending and potential future legal proceedings; |
• | the risks associated with climate change and other corporate responsibility issues; and |
• | the other factors discussed under the heading “Risk Factors” and elsewhere in this prospectus and in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents and reports filed from time to time with the SEC. |
• | the title; |
• | any limit on the aggregate principal amount; |
• | the percentage of the principal amount at which the debt securities will be sold and, if applicable, the method of determining the price; |
• | the maturity date or dates; |
• | the rate at which the debt securities will bear interest, if any, and the interest payment dates; |
• | the date or dates from which any interest will accrue, or how such date or dates will be determined, and the interest payment dates and any related record dates; |
• | any provisions for the payment of additional amounts for taxes; |
• | the denominations in which the currency or currency unit of the debt securities will be issuable if other than denominations of $2,000 and integral multiples of $1,000 in excess thereof; |
• | the terms and conditions on which we may optionally redeem the debt securities; |
• | the terms and conditions on which we may be required to redeem the debt securities; |
• | any obligation for us to redeem, purchase or repay the debt securities at the option of a holder upon the happening of an event, and the terms and conditions of redemption, purchase or repayment; |
• | the names and duties of any co-trustees, depositaries, authenticating agents, calculation agents, paying agents, transfer agents or registrars for the debt securities; |
• | any changes in or additions to the covenants applicable to the particular debt securities being issued; |
• | any additions to or changes in the events of default with respect to the securities and any change in the right of the trustee or the holders to declare the principal and interest, if any, with respect to such securities to be due and payable; |
• | the terms and conditions, if any, pursuant to which the debt securities are secured; |
• | any material provisions of the indenture described in this prospectus that do not apply to the debt securities; |
• | any other terms of the debt securities, which may modify, supplement or delete any provision of the indenture as it applies to that series; and |
• | any other specific terms of the debt securities. |
• | the designation and par value of such class or series of preferred stock, |
• | the number of shares of such class or series of preferred stock offered, the liquidation preference per share and the offering price of such class or series of preferred stock, |
• | the dividend rate(s), period(s), and/or payment date(s) or method(s) of calculation thereof applicable to such class or series of preferred stock, |
• | whether dividends on such class or series of preferred stock are cumulative or not and, if cumulative, the date from which dividends on such class or series of preferred stock shall accumulate, |
• | the provision for a sinking fund, if any, for such class or series of preferred stock, |
• | the provision for redemption, if applicable, of such class or series of preferred stock, |
• | any listing of such class or series of preferred stock on any securities exchange, |
• | the preemptive rights, if any, of such class or series of preferred stock, |
• | the terms and conditions, if applicable, upon which shares such class or series of preferred stock will be convertible into shares of our common stock or shares of any other class or series of our stock or other securities, including the conversion price (or manner of calculation thereof), |
• | a discussion of any additional material federal income tax consequences applicable to an investment in such class or series of preferred stock, |
• | the relative ranking and preferences of such class or series of preferred stock as to dividend rights and rights upon liquidation, dissolution or winding up of the affairs of our Company, |
• | any limitations on issuance of any class or series of stock ranking senior to or on parity with such class or series of preferred stock as to dividend rights and rights upon liquidation, dissolution or winding up of the affairs of our Company, |
• | any voting rights of such class or series of preferred stock, and |
• | any other specific terms, preferences, rights, limitations or restrictions of such class or series of preferred stock. |
• | any person who beneficially owns, directly or indirectly, 10% or more of the voting power of the corporation’s outstanding voting stock; or |
• | an affiliate or associate of the corporation who, at any time within the two-year period prior to the date in question, was the beneficial owner of 10% or more of the voting power of the then outstanding voting stock of the corporation. |
• | 80% of the votes entitled to be cast by holders of outstanding shares of voting stock of the corporation; and |
• | two-thirds of the votes entitled to be cast by holders of voting stock of the corporation other than shares held by the interested stockholder with whom (or with whose affiliate) the business combination is to be effected or held by an affiliate or associate of the interested stockholder. |
• | one-tenth or more but less than one-third; |
• | one-third or more but less than a majority; or |
• | a majority or more of all voting power. |
• | a classified board; |
• | a two-thirds vote requirement for removing a director; |
• | a requirement that the number of directors be fixed only by the board of directors; |
• | a requirement that a vacancy on the board be filled only by the remaining directors and for the remainder of the full term of the class of directors in which the vacancy occurred; or |
• | a majority requirement for the calling by stockholders of a special meeting of stockholders. |
• | with respect to an annual meeting of stockholders, nominations of individuals for election to the board of directors and the proposal of business to be considered by stockholders at the annual meeting may be made only: |
• | pursuant to our notice of the meeting; |
• | by or at the direction of our board of directors; |
• | by a stockholder: (1) who was a stockholder of record as of the record date set by the our board of directors for the purposes of determining stockholders entitled to vote at the annual meeting, at the time of giving of the notice required by our bylaws and at the time of the annual meeting (and any postponement or adjournment thereof), (2) who is entitled to vote at the meeting in the election of each individual so nominated or on such other business and (3) who has provided the information and certifications required by the advance notice procedures set forth in our bylaws; or |
• | by a stockholder or group of no more than 20 stockholders that satisfies the requirements of our bylaws who complied with the proxy access procedures set forth in our bylaws; |
• | with respect to special meetings of stockholders, only the business specified in our notice of meeting may be brought before the meeting of stockholders and except as contemplated by and in accordance with the bylaws no stockholder may nominate an individual for election to the board of directors or make a proposal of other business to be considered at the meeting, and nominations of individuals for election to our board of directors may be made only: |
• | by or at the direction of our board of directors; or |
• | provided that the meeting has been called for the purpose of electing directors, by a stockholder who is a stockholder of record as of the record date set by the our board of directors for the purposes of determining stockholders entitled to vote at the special meeting, at the time of giving of the notice required by our bylaws and at the time of the meeting (and any postponement or adjournment thereof), who is entitled to vote at the meeting in the election of each individual so nominated and who has provided the information and certifications required by the advance notice procedures set forth in our bylaws. |
• | through underwriters or dealers; |
• | through agents; |
• | directly to one or more purchasers; or |
• | through a combination of any of these methods of sale. |
ITEM 14. | Other Expenses of Issuance and Distribution |
SEC registration fee | | | $ ** |
FINRA filing fee | | | ** |
The New York Stock Exchange supplemental listing fee | | | ** |
Printing expenses | | | ** |
Legal fees and expenses | | | ** |
Accounting fees and expenses | | | ** |
Blue sky qualification fees and expenses | | | ** |
Trustee fees and expenses | | | ** |
Transfer agent fees and expenses | | | ** |
Depositary fees and expenses | | | ** |
Warrant agent fees and expenses | | | ** |
Rights agent fees and expenses | | | ** |
Rating agency fees and expenses | | | ** |
Miscellaneous | | | ** |
Total* | | | $** |
* | Applicable SEC registration fees have been deferred in accordance with Rules 456(b) and 457(r) of the Securities Act and are not estimable at this time. |
** | These fees and expenses are calculated based on the number of issuances and amount of securities offered, and accordingly, cannot be estimated at this time. Information regarding estimated expenses of issuance and distribution of each identified class of securities being registered will be provided at the time such information is available in a prospectus supplement in accordance with Rule 430B. |
ITEM 15. | INDEMNIFICATION OF DIRECTORS AND OFFICERS |
ITEM 16. | EXHIBITS |
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: |
(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; and |
(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; |
(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. |
(5) | That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: |
(A) | 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 |
(B) | 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 |
(6) | 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: |
(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 the 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) | The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to 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. |
(h) | 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 Securities Act of 1933 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 Securities Act of 1933 and will be governed by the final adjudication of such issue. |
Exhibit No. | | | Description |
1.1* | | | Form of Underwriting Agreement. |
| | Articles of Incorporation, dated June 1, 2000, which is incorporated herein by reference from Exhibit 3.1 of to the registrant’s Registration Statement on Form S-1 filed on June 16, 2000. | |
| | Articles Supplementary of Coach, Inc., dated May 3, 2001, which is incorporated herein by reference from Exhibit 3.2 to the registrant’s Current Report on Form 8-K filed on May 9, 2001. | |
| | Articles of Amendment of Coach, Inc., dated May 3, 2001, which is incorporated herein by reference from Exhibit 3.3 to the registrant’s Current Report on Form 8-K filed on May 9, 2001. | |
| | Articles of Amendment of Coach, Inc., dated May 3, 2002, which is incorporated by reference from Exhibit 3.4 to the registrant’s Annual Report on Form 10-K for the fiscal year ended June 29, 2002. | |
| | Articles of Amendment of Coach, Inc., dated February 1, 2005, which is incorporated by reference from Exhibit 99.1 to the registrant’s Current Report on Form 8-K filed on February 2, 2005. | |
| | Articles of Amendment to Charter of Tapestry, Inc., effective as of October 31, 2017, which is incorporated by reference from Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on October 31, 2017. | |
| | Bylaws of Tapestry, Inc., effective as of April 12, 2023, which is incorporated herein by reference from Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on April 13, 2023. | |
| | Specimen Certificate for Common Stock of Tapestry, Inc., which is incorporated by reference from Exhibit 4.1 to the registrant’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018, filed on August 16, 2018. | |
4.2* | | | Form of Specimen Certificate Representing Preferred Stock. |
| | Form of Indenture, to be entered into between the Company and U.S. Bank Trust Company, National Association, as trustee. | |
4.4* | | | Form of Debt Security. |
4.5* | | | Form of Warrant. |
4.6* | | | Form of Warrant Agreement. |
4.7* | | | Form of Agreement for Rights. |
4.8* | | | Form of Deposit Agreement. |
4.9* | | | Form of Purchase Contract Agreement. |
4.10* | | | Form of Unit Agreement. |
| | Opinion of Venable LLP. | |
| | Opinion of Latham & Watkins LLP. | |
| | Consent of Deloitte & Touche LLP. | |
| | Consent of Ernst & Young LLP. | |
| | Consent of Venable LLP (contained in Exhibit 5.1). | |
| | Consent of Latham & Watkins LLP (contained in Exhibit 5.2). | |
| | Power of Attorney (incorporated by reference to the signature page hereto). | |
| | Statement of eligibility on Form T-1 under the Trust Indenture Act of 1939, as amended, of U.S. Bank Trust Company, National Association, as trustee under the indenture filed as Exhibit 4.3 above. | |
| | Filing Fee Table. |
* | To be filed by amendment or as an exhibit to a Current Report on Form 8-K by the registrant in connection with a specific offering and incorporated by reference herein. |
| | TAPESTRY, INC. | ||||
| | | | |||
| | By: | | | /s/ Joanne C. Crevoiserat | |
| | Name: | | | Joanne C. Crevoiserat | |
| | Title: | | | Chief Executive Officer |
/s/ Joanne C. Crevoiserat | | | Chief Executive Officer and Director (Principal Executive Officer) | | | February 1, 2024 |
Joanne C. Crevoiserat | | |||||
| | | ||||
/s/ Scott A. Roe | | | Chief Financial Officer (Principal Financial Officer) | | | February 1, 2024 |
Scott A. Roe | | |||||
| | | | |||
/s/ Manesh B. Dadlani | | | Corporate Controller (Principal Accounting Officer) | | | February 1, 2024 |
Manesh B. Dadlani | | |||||
| | | | |||
/s/ Anne Gates | | | Director | | | February 1, 2024 |
Anne Gates | | |||||
| | | | |||
/s/ John P. Bilbrey | | | Director | | | February 1, 2024 |
John P. Bilbrey | | |||||
| | | | |||
/s/ Darrell Cavens | | | Director | | | February 1, 2024 |
Darrell Cavens | | |||||
| | | | |||
/s/ Johanna W. Faber | | | Director | | | February 1, 2024 |
Johanna W. Faber | | |||||
| | | |