forms8.htm
As
filed with the Securities and Exchange Commission on June 19, 2008
Registration
No. 333
–
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
___________________________________
FORM
S-8
REGISTRATION
STATEMENT
Under
THE
SECURITIES ACT OF 1933
___________________________________
CLEAN
DIESEL TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
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300
Atlantic Street
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Suite
702
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Delaware
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Stamford,
Connecticut 06901
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06-1393453
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(State
or other jurisdiction of incorporation or organization)
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(Address
of registrant's principal executive offices, including zip
code)
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(I.R.S.
Employer Identification Number)
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THE
1994 INCENTIVE PLAN OF
CLEAN
DIESEL TECHNOLOGIES, INC.
(Full
title of the plan)
Charles
W. Grinnell, Esq.
300
Atlantic Street
Suite
702
Stamford,
Connecticut 06901
(203)
327-7050
__________________________________________________________________________________________________
(Name,
address, and telephone number of agent for service)
___________________________________
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.
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Large
Accelerated Filer ¨
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Accelerated
Filer þ
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Non-Accelerated
Filer ¨
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(Do
not check if a smaller reporting company.)
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Smaller
reporting company ¨
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CALCULATION
OF REGISTRATION FEE
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Title
of Securities
to
be Registered
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Amount
to be Registered (1)
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Proposed
Maximum
Offering
Price
Per Share (2)
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Proposed
Maximum Aggregate
Offering
Price (2)
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Amount
of
Registration
Fee
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Common
Stock, par value $0.01 per share
(the
“Common Stock”)
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1,500,000
shares
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$19.125
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$19,226,846
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$756
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(1)
In addition, pursuant to Rule 416(c) under the Securities Act of 1933, as
amended (the “Securities Act”), this registration statement includes an
indeterminate number of shares of Common Stock to be offered or sold pursuant to
the employee benefits plan described herein and also includes an indeterminate
number of shares of Common Stock that may be issuable by reason of stock splits,
stock dividends or similar transactions in accordance with Rule 416 under the
Securities Act).
(2)
The proposed maximum offering price per share and proposed maximum aggregate
offering price are estimated solely for the purpose of determining the
registration fee pursuant to the provisions of Rule 457(c) and (h) of the
Securities Act, based upon the weighted average price of the following shares
and exercise price, adjusted for the June 2007 1 for 5 reverse stock split of
the Common Stock: (a) for shares of Common Stock subject to outstanding stock
options previously granted under the 1994 Incentive Plan (the “Plan”): 30,000
shares at $9.20; 44,200 shares at $9.70; 6,000 shares at $7.25; 10,000 shares at
$7.875; 20,000 shares at $6.955; 59,867 shares at $5.10; 11,000 shares at
$8.375; 10,000 shares at $8.25; 121,000 shares at $9.10; 5,000 shares at $15.55;
153,500 shares at $19.125; 3,000 shares at $17.665; 10,000 shares at $16.99; and
5,000 shares at $13.435; and (b) for shares of Common Stock reserved for
issuance under the Plan pursuant to stock options to be granted in the future
1,011,433 shares at $13.225, which is the average of the highest and lowest
price per share of the Common Stock as reported by the NASDAQ Stock Market LLC
on June 17, 2008.
EXPLANATORY
NOTE
Clean
Diesel Technologies, Inc. (the “Registrant”) hereby files this Registration
Statement on Form S-8 (the “Registration Statement”) relating to its Common
Stock, par value $0.01 per share, issuable under the Incentive Plan of Clean
Diesel Technologies, Inc., as amended (the “Plan”). This Registration
Statement is filed pursuant to Instruction E to Form S-8 to register 1,500,000 additional
shares of Common Stock issuable under the Plan.
INCORPORATION
OF CONTENTS OF
REGISTRATION
STATEMENTS BY REFERENCE
Pursuant
to Instruction E to Form S-8, except with respect to Items 3 and 5 (which have
been updated and are set forth below), the Registrant hereby incorporates by
reference into this Registration Statement the contents of the Registrant’s
previous registration statements on Form S-8 (File Nos. 333-16939, 333-33276 and
333-117057), and any post-effective amendments thereto.
PART
I
The
documents containing information specified by Part I of this Registration
Statement will be sent or given to participants as specified in Rule 428(b)(1)
promulgated by the Securities and Exchange Commission (the “SEC”) under the
Securities Act. Such documents are not being filed either as part of
this Registration Statement or as prospectuses or prospectus supplements
pursuant to Rule 424. Such documents and the documents incorporated
by reference in this Registration Statement pursuant to Item 3 of Part II of
this Registration Statement, taken together, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act.
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item
3. Incorporation of Documents by Reference
The Registration Statement incorporates
herein by reference the following documents of the Registrant which it has filed
with the SEC:
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(a)
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Annual
Report on Form 10-K for the fiscal year ended December 31,
2007;
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(b)
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Quarterly
Report on Form 10-Q for the quarterly period ended March 31,
2008;
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(c)
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Proxy
Statement dated April 1, 2008; and
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(d)
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Form
8-K filed with the SEC on January 2, 2008;
and
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(e)
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The
description of the Registrant’s Common Stock contained in the Registrant’s
Registration Statement on Form 8-A under the Exchange Act, filed September
27, 2007.
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All
documents subsequently filed by the Registrant pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Securities and Exchange Act of 1934 prior to the
filing of a post-effective amendment to this Registration Statement which
indicates that all of the shares of Common Stock offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be part thereof
from the date of filing such documents.
Item
4. Description of Securities
Not
applicable. The class of securities to be offered is registered under Section 12
of the Exchange Act.
Item
5. Interests of Named Experts and Counsel
Charles W. Grinnell, counsel to the
Registrant, who has issued an opinion as to the validity of the shares of Common
Stock covered by this Registration Statement, is a director and officer of the
Registrant, owns 6,193 shares of Registrant’s Common Stock and holds options to
purchase 52,000 shares of Common Stock covered by this Registration
Statement.
Item
6. Indemnification of Directors and Officers
Under
Section 145 of the Delaware General Corporation Law, a corporation may indemnify
a director, officer, employee or agent of the corporation (or a person who is or
was serving at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other
enterprise) against expenses (including attorney’s fees), judgments, fines, and
amounts paid in settlement actually and reasonably incurred by the person if he
acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the corporation and, with respect to any
criminal action or proceeding, had no reasonable cause to believe his conduct
was unlawful. In the case of an action brought by or in the right of
a corporation, the corporation may indemnify a director, officer, employee or
agent of the corporation (or a person who is or was serving at the request of
the corporation as a director, officer, employee, or agent of another
corporation, partnership, joint venture, trust or other enterprise) against
expenses (including attorney’s fees) actually and reasonably incurred by him if
he acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the corporation, except that no indemnification
may be made in respect of any claim, issue or matter as to which such person
shall have been adjudged to be liable to the corporation unless and only to the
extent a court finds that, in view of all the circumstances of the case, such
person is fairly and reasonably entitled to indemnity for such expenses as the
court shall deem proper.
The
Registrant’s Certificate of Incorporation provides that no director of Clean
Diesel shall be liable to Clean Diesel or its stockholders for monetary damages
for breach of fiduciary duty as a director to the fullest extent permitted by
law.
Our
Certificate of Incorporation also provides that Clean Diesel shall indemnify to
the fullest extent permitted by Delaware Law any and all of its directors and
officers or former directors and officers, or any person who may have served at
the Registrant’s request as a director or officer of another corporation,
partnership, joint venture, trust or other enterprise.
Item
7. Exemption from Registration Claimed
Not applicable.
Item
8. Exhibits
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The
following exhibits are filed as part of this Registration
Statement: |
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4.1
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1994
Incentive Plan of Clean Diesel Technologies, Inc. as amended through June
11, 2002, incorporated by reference to Exhibit 10(d) to the Registrant’s
Annual Report on Form 10-K, filed March 30,
2007.
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4.2
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Form
of Incentive Stock Option Agreement incorporated by reference to Exhibit
10(g) to the Registrant’s Annual Report on Form 10-K, filed March 30,
2007.
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4.3
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Form
of Non-Qualified Stock Option Agreement incorporated by reference to
Exhibit 10(h) to Registrants Annual Report on Form 10-K, filed March 30,
2007.
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4.4
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Form
of Non-Executive Director Stock Option Agreement incorporated by reference
to Exhibit 4.10 to Registrant’s Registration Statement on Form S-8 (File
No. 333-117057), filed July 1, 2004.
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Opinion
of Charles W. Grinnell, Esq.
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Consent
of Eisner LLP.
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23.2*
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Consent
of Charles W. Grinnell, Esq. (included in opinion filed as Exhibit
5.0).
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24.0*
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Powers
of Attorney (included on the signature
page).
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______________________
* Filed
herewith.
Item
9. Undertakings
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(a)
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The
undersigned Registrant hereby
undertakes:
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(1)
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To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration
statement:
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(i) To
include any prospectus required by section 10(a)(3) of the Securities Act of
1933;
(ii) To
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than 20% change in
the maximum aggregate offering price set forth in the “Calculation of
Registration Fee” table in the effective registration statement;
(iii) To
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement.
Provided,
however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii)
of this section do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the Commission by the registrant pursuant to
section 13 or section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement, or is contained in a
form of prospectus filed pursuant to Rule 424(b) that is part of the
registration statement.
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(2)
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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.
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(3)
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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.
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(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 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.
(c)
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers or persons controlling the Company
pursuant to the foregoing provisions, we have been informed that in the opinion
of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is therefore
unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Stamford, State of Connecticut, on this 19th day of June, 2008.
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CLEAN
DIESEL TECHNOLOGIES, INC.
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By:
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/s/ Bernhard Steiner
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Bernhard
Steiner
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Chief
Executive Officer, President and Director
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POWER
OF ATTORNEY
WE, THE
UNDERSIGNED OFFICERS AND DIRECTORS OF CLEAN DIESEL TECHNOLOGIES, INC. hereby
severally constitute and appoint Ann B. Ruple and Charles W. Grinnell, and each
of them singly, our true and lawful attorneys-in-fact and agents with full power
to them, and each of them without the joinder of the others and with full power
of substitution, to sign for us and in our names and capacities indicated below,
the Registration Statement on Form S-8 filed herewith and any and all
pre-effective and post-effective amendments to said Registration Statement, and
any and all documents in connection therewith, and to file the same, with all
exhibits thereto, and all documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys-in-fact and agents full
power and authority to do and perform each and every act and thing in our names
and behalf in our capacities as officers and directors to enable Clean Diesel
Technologies, Inc. to comply with the provisions of the Securities Act of 1933,
as amended, and all requirements of the Securities and Exchange Commission, and
hereby ratify, approve and confirm all that said attorneys-in-fact and agents
may lawfully do or cause to be done by virtue hereof.
IN
WITNESS WHEREOF, each of the undersigned has executed this Power of Attorney as
of the date indicated.
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the dates
indicated:
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Signature
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Capacity
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Date
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/s/ Bernhard Steiner
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Chief
Executive Officer, President and Director
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June
19, 2008
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Bernhard
Steiner
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(principal
executive officer)
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/s/ Ann B. Ruple
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Chief
Financial Officer, Vice President and Treasurer
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June
19, 2008
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Ann
B. Ruple
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(principal
financial and accounting officer)
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/s/ John A. deHavilland
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Director
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June
19, 2008
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John
A. de Havilland
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/s/ Derek R. Gray
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Director,
Non-Executive Chairman of the Board of Directors
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June
19, 2008
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Derek
R. Gray
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/s/ Charles W. Grinnell
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Director,
Vice President and Corporate Secretary
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June
19, 2008
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Charles
W. Grinnell
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/s/ John J. McCloy
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Director
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June
19, 2008
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John
J. McCloy
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/s/ David F. Merrion
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Director
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June
19, 2008
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David
F. Merrion
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