posam
As filed with the Securities and Exchange Commission on September 24, 2007.
Registration No. 333-114324
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Post-Effective Amendment No. 2 to
Form S-1 on Form S-3
Registration Statement
Under the Securities Act of 1933
CRAY INC.
(Exact name of registrant as specified in its charter)
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WASHINGTON
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93-0962605 |
(State or other jurisdiction
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(IRS Employer |
of incorporation or organization)
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Identification No.) |
411 First Avenue South, Suite 600
Seattle, Washington
(206) 701-2000 (telephone)
(206) 701-2500 (facsimile)
(Address, including zip code, and telephone and facsimile numbers,
including area code, of principal executive offices)
Kenneth W. Johnson,
Senior Vice President, General Counsel
and Corporate Secretary
Cray Inc.
411 First Avenue South
Suite 600
Seattle, WA 98104-2860
(206) 701-2000 (telephone)
(206) 701-2500 (facsimile)
(Name, address, including zip code, and
telephone and facsimile numbers, including area code, of agent for service)
Copy to:
L. John Stevenson, Jr.
Stoel Rives LLP
One Union Square, 36th Floor
Seattle, WA 98101-3197
(206) 624-0900 (telephone)
(206) 386-7500 (facsimile)
Approximate date of commencement of proposed sale to the public:
From time to time after this post-effective amendment becomes effective
If the only securities being registered on this Form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. o
If any of the securities being registered on this Form are to be offered on a delayed or continuous
basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in
connection with dividend or interest reinvestment plans, check the
following box. þ
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b)
under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for
the same offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act,
check the following box and list the Securities Act registration number of the earlier effective
registration statement for the same offering. o
If this Form is a registration statement pursuant to General Instruction l.D. or a post-effective
amendment thereto that shall become effective upon filing with the Commission pursuant to Rule
462(e) un the Securities Act, check the following box.
o
If this Form is a post-effective amendment to a registration statement filed pursuant to General
Instruction I.D. filed to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following
box. o
The Registrant hereby amends this registration statement on such date or dates as may be
necessary to delay its effective date until the Registrant shall file a further amendment which
specifically states that this registration statement shall thereafter become effective in
accordance with section 8(a) of the Securities Act of 1933 or until the registration statement
shall become effective on such date as the Securities and Exchange Commission, acting pursuant to
said section 8(a), may determine.
EXPLANATORY NOTE
This Post-Effective Amendment No. 2 to Form S-1 on Form S-3 is being filed to convert the
registration statement of Cray Inc. on Form S-1 (Registration No. 333-114324) into a registration
statement on Form S-3.
All numbers of shares of Cray Inc. common stock, per share calculations and trading prices and
similar information involving Cray Inc. common stock in this post-effective amendment to the
registration statement, including in the prospectus included herein, have been adjusted to reflect
a one-for-four reverse stock split of Cray common stock that became effective on June 8, 2006.
Such information in documents dated prior to June 8, 2006, that are incorporated by reference
herein do not reflect the reverse stock split.
The information in this prospectus is not complete and may be changed. These securities may
not be sold using this prospectus until the post-effective amendment filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer to sell these securities and it
is not soliciting an offer to buy these securities in any state where the offer or sale is not
permitted.
PROSPECTUS, Subject to Completion, dated September 24, 2007
CRAY INC.
6,367 shares of common stock
The selling shareholders are offering and selling up to 6,367 shares of our
common stock under this prospectus.
The selling shareholders may sell the shares at fixed prices, market prices, prices computed
with formulas based on market prices, or at negotiated prices, and may engage a broker or dealer to
sell the shares. We will not receive any proceeds from the sale of the shares by the selling
shareholders, but will bear the costs relating to the registration of the shares. For additional
information on the selling shareholders possible methods of sale, you should refer to the section
of this prospectus entitled Plan of Distribution.
Our common stock is traded on the Nasdaq Global Market under the symbol CRAY. On September
21, 2007, the closing price for our common stock was $7.01 per share.
All numbers of shares of our common stock in this prospectus, per share calculations, trading
prices and similar information involving our common stock reflect the one-for-four reverse stock
split effected on June 8, 2006. Such information in documents dated prior to June 8, 2006, that
are incorporated by reference into this prospectus do not reflect the one-for-four reverse stock
split.
Investing in our common stock involves significant risks. Before purchasing any of the common
stock, you should carefully consider the Risk Factors contained in our quarterly report on Form
10-Q for the year ended June 30, 2007, and our future filings with the Securities and Exchange
Commission, which are incorporated by reference into this prospectus.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE
SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SHARES, OR
DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this prospectus is , 2007.
This prospectus does not constitute an offer of, or an invitation to purchase, any of the
shares of common stock in any jurisdiction in which, or to any person to whom, such offer or
invitation would be unlawful. In making your investment decision, you should rely only on the
information contained in or incorporated by reference into this prospectus. Neither we nor the
selling shareholders have authorized any other person to provide you with information different
from that contained in or incorporated by reference into this prospectus. If you receive any
unauthorized information, you must not rely on it. You should not assume that the information
contained in or incorporated by reference into this prospectus is accurate as of any date other
than the date on the front cover of this prospectus or the date of such incorporated information,
as applicable. Neither the delivery of this prospectus nor any sales of the common stock shall,
under any circumstances, create any implication that there has been no change in the affairs of
Cray Inc. after the date of this prospectus.
TABLE OF CONTENTS
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EXHIBIT
23.1
EXHIBIT
23.2
You should rely only on information contained or incorporated by reference in this prospectus.
See Incorporation of Certain Documents by Reference on page 8. Neither we nor the selling
shareholders have authorized any other person to provide you with information different from that
contained in this prospectus.
The shares of common stock are not being offered in any jurisdiction where the offering is not
permitted.
2
OUR BUSINESS
We design, develop, manufacture, market and service high performance computing (HPC)
systems, commonly known as supercomputers. Our supercomputer systems provide capability, capacity
and sustained performance far beyond typical server-based computer systems and address challenging
scientific and engineering computing problems.
We believe we are well-positioned to meet the HPC markets demanding needs by providing
superior supercomputer systems with performance and cost advantages when sustained performance on
challenging applications and total cost of ownership are taken into account. We differentiate
ourselves from our competitors primarily by concentrating our research and development efforts on
the processing, interconnect and software capabilities that enable our systems to scale that is,
to continue to increase performance as our systems grow in size. Purpose-built for the
supercomputer market, our systems balance highly capable processors, highly scalable software and
very high speed interconnect and communications capabilities.
We focus our sales and marketing activities on government agencies, industrial companies and
academic institutions that purchase high-end HPC systems. We sell our products primarily through a
direct sales force that operates throughout the United States and in Canada, Europe, Japan and
Asia-Pacific.
We were incorporated under the laws of the State of Washington in December 1987 under the name
Tera Computer Company. We changed our corporate name to Cray Inc. in connection with our April 2000
acquisition of the Cray Research operating assets from Silicon Graphics, Inc. Our corporate
headquarter offices are located at 411 First Avenue South, Suite 600, Seattle, Washington,
98104-2860, our telephone number is (206) 701-2000 and our website address is: www.cray.com. The
contents of our website are not incorporated by reference into this prospectus or our other SEC
reports and filings.
3
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains or incorporates by reference forward-looking statements that
involve risks and uncertainties, as well as assumptions that, if they never materialize or prove
incorrect, could cause our results to differ materially from those expressed or implied by such
forward-looking statements. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements, including any projections of earnings, revenue or
other financial items; any statements of the plans, strategies and objectives of management for
future operations; any statements concerning proposed new products, services or developments; any
statements regarding future economic conditions or performance; statements of belief; and any
statement of assumptions underlying any of the foregoing. We assume no obligation to update these
forward-looking statements. The risks, uncertainties and assumptions referred to above include the
following: significantly fluctuating operating results with possibility of periodic losses; the
need for increased product revenue and margin, particularly from our Cray XT4 and successor
massively parallel systems; completion of the development of the Cray XMT and BlackWidow systems;
our reliance on third-party suppliers to build and timely deliver components that meet our
specifications; the technical challenges of developing new supercomputer systems on time and
budget; competitive pressures from established companies well known in the high performance
computer market and system builders and resellers of systems constructed from commodity components;
the timing and level of government support for supercomputer system purchases and development; a
volatile stock price; our ability to attract, retain and motivate key employees and other risks
that are described from time to time under Risk Factors in our SEC reports. In various reports
that we file with the SEC, and that have been or may be incorporated by reference herein, we rely
on and refer to information and statistics regarding the markets for various products. We obtain
this information from third party sources, discussions with our customers and our own internal
estimates. We believe that these third-party sources are reliable, but we have not independently
verified them and we cannot assure you that they are accurate.
4
SELLING SHAREHOLDERS
On April 1, 2004, we acquired OctigaBay Systems Corporation, or OctigaBay, through a
wholly-owned subsidiary. As a result of the acquisition:
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we issued 1,890,221 shares of our common stock to certain shareholders of OctigaBay
in a transaction exempt from the registration requirements of the Securities Act
pursuant to Section 3(a)(10) thereof; and |
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our wholly-owned Nova Scotia subsidiary issued 1,210,105 shares that were
exchangeable into an equivalent number of shares of our common stock to certain other
shareholders of OctigaBay in a transaction exempt from the registration requirements of
the Securities Act pursuant to Section 3(a)(10) thereof. We refer to these securities
as Exchangeable Shares. As of January 31, 2006, all Exchangeable Shares had been
exchanged for shares of our common stock. |
The offer and sale of the shares of our common stock upon the exchange of the Exchangeable
Shares were made in reliance on Regulation S or Regulation D under the Securities Act and,
consequently, such shares are deemed to be restricted securities within the meaning of the
Securities Act. As a partial inducement to the OctigaBay shareholders to approve our proposal to
acquire their company, we agreed to file a registration statement, of which this prospectus forms a
part, to register the resale of shares of our common stock issuable to the holders of the
Exchangeable Shares upon the exchange thereof. We have agreed with the selling shareholders to
prepare and file such amendments and supplements to the registration statement as may be necessary
to keep the registration statement effective until the shares are no longer required to be
registered for sale by the selling shareholders.
As of the date of this prospectus, the selling shareholders beneficially owned an aggregate of
6,367 shares of common stock which they had received in exchange for Exchangeable Shares, which
includes any transferee, donee, devisee, pledgee or distributee of any selling shareholder. All of
the shares covered by this prospectus are being sold for the account of the selling shareholders.
If all shares covered by this prospectus are sold, we have been advised that the selling
shareholders will not hold any shares of our common stock. The shares covered by this prospectus
include only the shares of common stock issued to the selling shareholders upon exchange of the
Exchangeable Shares.
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Ownership After Offering |
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If All Shares Offered |
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Shares Owned |
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Shares Being |
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Hereby Are Sold |
Selling Shareholder |
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Prior To Offering |
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Offered |
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Shares |
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Percent |
William Barrable |
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0 |
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6,300 |
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0 |
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Jose Rabasso |
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0 |
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67 |
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0 |
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No selling shareholder has had any material relationship with us or any of our affiliates
within the past three years, nor has any right with respect to the nomination or election of our
directors or those of our affiliates.
5
PLAN OF DISTRIBUTION
We are registering the shares covered by this prospectus for the selling shareholders. The
selling shareholders and their pledgees, donees, transferees or other successors-in-interest may
sell the shares directly or through agents, broker-dealers, or underwriters, in one or more
transactions at fixed prices, at market prices prevailing at the time of sale, at prices related to
prevailing market prices at the time of sale, or at negotiated prices. In addition, the shares may
be sold by one or more of the following methods:
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a block trade in which a broker or dealer so engaged will attempt to sell the shares
as agent but may position and resell a portion of the block, as principal, in order to
facilitate the transaction; |
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purchases by a broker or dealer, as principal, in a market maker capacity or
otherwise and resale by the broker or dealer for its account pursuant to a prospectus
supplement; |
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ordinary brokerage transactions and transactions in which a broker solicits purchases; |
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privately negotiated transactions; or |
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any combination of these methods of sale. |
Such sales may be effected in transactions on any national securities exchange, U.S.
inter-dealer quotation system or registered national securities association on which our common
stock may be listed or quoted at the time of sale, in the over-the-counter market, in other ways
not involving market makers or established trading markets, including direct sales to purchasers or
sales effected through agents, or at the market to or through market makers or into an existing
market for the shares. The selling shareholders also may sell our common stock short and deliver
the shares offered hereby to close out such short positions.
The selling shareholders also may enter into derivative transactions with third parties, or
sell securities not covered by this prospectus to third parties in privately negotiated
transactions. If the applicable prospectus supplement indicates, in connection with any such
derivative transactions, the third parties may sell shares covered by this prospectus and the
applicable prospectus supplement, including in short sale transactions. If so, the third party may
use securities pledged by a selling shareholder or borrowed from a selling shareholder or others to
settle those sales or to close out any related open borrowings of stock, and may use shares
received from the selling shareholder in settlement of those derivatives to close out any related
open borrowings of stock. The third party in such sale transactions will be an underwriter and
will be identified in a prospectus supplement or a post-effective amendment to the registration
statement of which this prospectus constitutes a part.
Some or all of the common stock covered by this prospectus may be sold to or through an agent,
broker-dealer or underwriter. Any shares sold in that manner will be acquired by the agent,
broker-dealer or underwriter for its own account and may be resold at different times in one or
more transactions, including negotiated transactions, at a fixed public offering price or at
varying prices determined at the time of sale. The common stock may be offered to the public
through underwriting syndicates represented by one or more managing underwriters or may be offered
to the public directly by one or more underwriters. Any public offering price and any discounts or
concessions allowed or paid to dealers may be changed at different times. Some of the agents,
broker-dealers or underwriters and their associates may be customers of, engage in transactions
with and perform services for us or
6
the selling shareholders in the ordinary course of business. The specific number of shares of
common stock to be sold in this manner and the purchase price, public offering price, names of any
agent, broker-dealer or underwriter, any applicable commission or discount and other terms
constituting compensation from the selling shareholder, and any other material information with
respect to a particular offering will be set forth in a prospectus supplement or post-effective
amendment to the registration statement of which this prospectus constitutes a part.
We will pay the costs and fees of registering the shares, but the selling shareholders will
pay any brokerage commissions, discounts or other expenses relating to the sale of the shares. We
have agreed with the selling shareholders to indemnify each other against certain liabilities,
including liabilities arising under the Securities Act, that relate to statements or omissions in
the registration statement of which this prospectus forms a part.
Regulation M under the Exchange Act provides that during the period that any person is engaged
in the distribution, as so defined in Regulation M, of our common stock, such person generally may
not purchase shares of our common stock. The selling shareholders are subject to applicable
provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder,
including, without limitation, Regulation M, which provisions may limit the timing of purchases and
sales of shares of our common stock by the selling shareholders. The foregoing may affect the
marketability of our common stock.
The selling shareholders may negotiate and pay brokers or dealers commissions, discounts or
concessions for their services. In effecting sales, brokers or dealers engaged by the selling
shareholders may allow other brokers or dealers to participate. However, the selling shareholders
and any brokers or dealers involved in the sale or resale of the shares may qualify as
underwriters within the meaning of the Section 2(a)(11) of the Securities Act.
In addition, the brokers or dealers commissions, discounts or concessions may qualify as
underwriters compensation under the Securities Act. If any of the selling shareholders qualifies
as an underwriter, it will be subject to the prospectus delivery requirements of section 5(b)(2)
of the Securities Act.
In addition to selling its shares under this prospectus, the selling shareholders may:
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agree to indemnify any broker or dealer or agent against certain liabilities
related to the selling of the shares, including liabilities arising under the
Securities Act; |
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transfer its shares in other ways not involving market makers or established
trading markets, including directly by gift, distribution, or other transfer; or |
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sell their shares under Rule 144 of the Securities Act rather than under this
prospectus, if the transaction meets the requirements of Rule 144. |
Upon notification by a selling shareholder that any material arrangement has been entered into
with a broker or dealer for the sale of the shares through a block trade, special offering,
exchange distribution or secondary distribution or a purchase by a broker or dealer, we will file a
supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, or a
post-effective amendment to the registration statement of which this prospectus constitutes a part,
that discloses the material terms of the transaction.
7
LEGAL MATTERS
For purposes of this offering, Kenneth W. Johnson, our general counsel has given an opinion on
the validity of the common shares. As of the date of this prospectus, Mr. Johnson held 47,395
shares of our common stock and options exercisable for 118,022 shares of our common stock.
EXPERTS
The financial statements and related financial statement schedule as of December 31, 2005, and
2006, and for the two years then ended, and managements report on the effectiveness of internal
control over financial reporting, incorporated in this prospectus by reference from our Annual
Report on Form 10-K, as amended, for the year ended December 31, 2006, have been audited by
Peterson Sullivan PLLC, an independent registered public accounting firm, as stated in its reports,
which are incorporated herein by reference (which reports express (1) an unqualified opinion on the
financial statements, (2) an unqualified opinion on managements assessment regarding the
effectiveness of internal control over financial reporting, and (3) an unqualified opinion on the
effectiveness of internal control over financial reporting), and have been so incorporated in
reliance upon the reports of such firm given upon their authority as experts in accounting and
auditing.
The financial statements and related financial statement schedule for the year ended December
31, 2004, incorporated in this prospectus by reference from the Companys Annual Report on Form
10-K, as amended, for the year ended December 31, 2006, have been audited by Deloitte & Touche LLP,
an independent registered public accounting firm, as stated in their report (which report expresses
an unqualified opinion on the financial statements and related financial statement schedule and
includes an explanatory paragraph related to the restatement described in Note 20 to the financial
statements), which is incorporated herein by reference and have been so incorporated in reliance
upon the report of such firm given upon their authority as experts in accounting and auditing.
LIMITATION OF LIABILITY AND INDEMNIFICATION
Our Restated Articles of Incorporation provide that, to the fullest extent permitted by the
Washington Business Corporation Act, our directors will not be liable for monetary damages to Cray
or its shareholders, excluding, however, liability for acts or omissions involving intentional
misconduct or knowing violations of law, illegal distributions or transactions from which the
director receives benefits to which the director is not legally entitled. Our Restated Bylaws
provide that Cray will indemnify its directors and, by action of the Board of Directors, may
indemnify its officers, employees and other agents to the fullest extent permitted by applicable
law, except for any legal proceeding that is initiated by such directors, officers, employees or
agents without authorization of the Board of Directors.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of Cray pursuant to the foregoing provisions, or
otherwise,
we have been advised that, in the opinion of the SEC, such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable.
8
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The SEC allows us to incorporate by reference into this prospectus the publicly filed
reports described below, which means that information included in those reports is considered part
of this prospectus. Information that we file with the SEC subsequent to the date of this
prospectus will automatically update and supersede the information contained in this prospectus.
We specifically incorporate by reference in this prospectus the following documents we have filed
with the SEC pursuant to the Securities Exchange Act of 1934, as amended, which we refer to
hereafter as the Exchange Act (other than any portions of the respective filings that were
furnished pursuant to Item 2.02 or 7.01 of Current Reports on Form 8-K or other applicable SEC
rules) and any future filings made with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the
Securities Exchange Act of 1934 between the filing date and the effective date of the
post-effective amendment of which prospectus is a part, or after such effective date and until the
selling shareholders have sold all the shares:
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our Annual Report on Form 10-K for the fiscal year ended December 31, 2006, filed on
March 9, 2007; |
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Amendment No. 1 to our Annual Report on Form 10-K for the fiscal year ended
December 31, 2006, filed on June 20, 2007; |
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our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2007, filed on
May 8, 2007; |
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our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2007, filed on
August 7, 2007; |
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our Current Report on Form 8-K, filed on January 4, 2007; |
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our Current Report on Form 8-K, filed on January 9, 2007; |
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our amended Current Report on Form 8-K, filed on February 12, 2007; |
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our Current Report on Form 8-K, filed on February 16, 2007; |
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our Current Report on Form 8-K, filed on March 27, 2007; |
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our current Report on Form 8-K, filed on May 4, 2007; |
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our current Report on Form 8-K, filed on June 5, 2007; |
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our current Report on Form 8-K, filed on June 7, 2007; |
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our current Report on Form 8-K, filed on August 3, 2007; |
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our current Report on Form 8-K, filed on August 21, 2007; |
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our Definitive Proxy Statement for the 2007 annual meeting of our shareholders, filed on
March 30, 2007; and |
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The description of our common stock set forth in our Registration Statement on
Form SB-2 (Registration No. 33-95460-LA), including any amendment or report
filed for the purpose of updating such description, as incorporated by reference in our
Registration Statement on Form 8-A (Registration No. 0-26820), including the amendment
thereto on Form 8-A/A. |
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These filings are available at the SECs website, www.sec.gov, as well as our website,
www.cray.com. We will furnish without charge, on written or oral request, to each person, including
any beneficial owner, to whom a prospectus is delivered, a copy of any or all of the information
incorporated by reference in this prospectus but not delivered with the prospectus. You should
direct any requests for documents to Investor Relations, Cray Inc., 411 First Avenue South, Suite
600, Seattle, Washington 98104, telephone (206) 701-2000.
The information relating to us contained in this prospectus is not comprehensive and should be
read together with the information contained in the incorporated documents.
Statements contained in this prospectus as to the contents of any contract or other document
are not necessarily complete. For a more detailed evaluation, you should refer to the copy of the
contract or other document filed as an exhibit to the Registration Statement.
You should not assume that the information contained or incorporated by reference in this
prospectus is accurate as of any date other the date on the front of this prospectus or the dates
of the incorporated documents.
WHERE YOU CAN FIND ADDITIONAL INFORMATION
This prospectus is part of a registration statement on Form S-3 that we filed with the
Securities and Exchange Commission. Information in the registration statement has been omitted from
this prospectus as permitted by the Securities and Exchange Commissions rules.
We file annual, quarterly and current reports and other information with the SEC. You may read
and copy the registration statement of which this prospectus constitutes a part and any other
materials that we file with the SEC at the SECs public reference room located at 100 F Street,
N.E., Washington, D.C. 20549. You may obtain information on the operation of the public reference
room by calling the SEC at 1-800-SEC-0330. The SEC maintains an Internet site that contains
reports, proxy and information statements, and other information regarding issuers that file
electronically with the SEC. Our SEC filings are available to you free of charge on that SEC web
site at http://www.sec.gov.
10
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
The following table sets forth the costs and expenses payable by the Company in connection
with the sale of the securities being registered. All amounts are estimates except the SEC
registration fee.
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SEC registration fee |
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$ |
4,128 |
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Legal fees and expenses |
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17,000 |
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Accounting fees and expenses |
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12,000 |
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Printing fees and expenses |
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5,000 |
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Transfer Agent fees and expenses |
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6,000 |
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Miscellaneous |
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1,872 |
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Total |
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$ |
46,000 |
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Item 15. Indemnification of Directors and Officers.
Article VII of the Companys Restated Articles of Incorporation and Section 10 of the
Companys Restated Bylaws require indemnification of directors and permit the indemnification of
officers, employees and agents of the Company to the fullest extent permitted by the Washington
Business Corporation Act (the Act). Sections 23B.08.500 through 23B.08.600 of the Act authorize
a court to award, or a corporations board of directions to grant, indemnification to directors and
officers on terms sufficiently broad to permit indemnification under certain circumstances for
liabilities arising under the Securities Act.
Section 23B.08.320 of the Act authorizes a corporation to limit a directors liability to the
corporation or its shareholders for monetary damages for acts or omissions as a director, except in
certain circumstances involving intentional misconduct, self-dealing or illegal corporate loans or
distributions, or any transaction from which the director personally receives a benefit in money,
property or services to which the director is not legally entitled. Article VI of the Companys
Restated Articles of Incorporation contains provisions implementing, to the fullest extent
permitted by Washington law, such limitations on a directors liability to the Company and its
shareholders.
Item 16. Exhibits
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Exhibit |
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Number |
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Description |
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3.1 |
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Restated Articles of Incorporation (1) |
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3.2 |
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Amended and Restated Bylaws (2) |
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5.1 |
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Opinion on Legality by the General Counsel (3) |
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23.1 |
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Consent of Peterson Sullivan PLLC, Independent Registered Public Accounting Firm |
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23.2 |
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Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm |
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23.3 |
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Consent of the General Counsel (included in Exhibit 5.1) |
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24.1 |
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Power of Attorney for certain directors and officers (3) |
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24.2 |
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Power of Attorney for additional directors and officers (4) |
II - 1
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(1) |
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Incorporated by reference to the Companys Current Report on Form 8-K, as filed with the
Commission on June 8, 2006. |
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(2) |
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Incorporated by reference to the Companys Current Report on Form 8-K, as filed with the
Commission on February 12, 2007. |
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(3) |
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Incorporated by reference to the Registration Statement on Form S-3, Registration No.
333-114324, as filed with the Commission on April 8, 2004. |
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(4) |
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Incorporated by reference to the Companys Post-Effective Amendment No. 1 to Form S-3 on Form
S-1, Registration No. 333-114324, as filed with the Commission on July 12, 2006. |
Item 17. 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) |
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To include any prospectus required by Section
10(a)(3) of the Securities Act; |
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(ii) |
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To reflect in the prospectus any facts or events
arising after the effective date of this 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 this Registration Statement; and |
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(iii) |
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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; |
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provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do
not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in reports filed with or furnished
to the Commission by the registrant pursuant to Section 13 or Section 15(d) of
the Exchange Act 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, each 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; and |
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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 that remain unsold at the
termination of the offering. |
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(b) |
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The undersigned registrant hereby undertakes that, for purposes of determining
any liability under the Securities Act of 1933 to any purchaser, each prospectus filed
pursuant to Rule 424(b) as part of a registration statement relating to an offering,
other than registration statements relying on Rule 430B or other than prospectuses
filed in reliance on Rule 430A, shall be deemed to be part of and included in the
registration statement as of the date it is first used after effectiveness. Provided,
however, that no statement made in a registration statement or prospectus that is part
of the registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the
registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify |
II - 2
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any statement that was made in the
registration statement or prospectus that was part of the registration statement or
made in any such document immediately prior to such date of first use. |
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(c) |
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The undersigned registrant hereby undertakes that, for purposes of determining
any liability under the Securities Act of 1933, each filing of the registrants annual
report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of
1934 that is incorporated by reference in the registration statement shall be deemed to
be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof. |
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(d) |
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Insofar as indemnification for liabilities arising under the Securities Act 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 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 Securities Act and will be governed by the final adjudication of such issue. |
II - 3
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-3 and has duly caused this post-effective amendment to this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in Seattle, Washington, on September
24, 2007.
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CRAY INC.
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By: |
/s/ Kenneth W. Johnson
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Kenneth W. Johnson |
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Senior Vice President and
General Counsel |
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Pursuant to the requirements of the Securities Act of 1933, this post-effective amendment to
this registration statement has been duly signed by the following persons on September 24, 2007, in
the capacities indicated.
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/s/ Peter J. Ungaro*
Peter J. Ungaro
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President, Chief Executive Officer and Director
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/s/ Brian C. Henry*
Brian C. Henry
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Executive Vice President and Chief Financial
Officer
(Principal Financial Officer)
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/s/ Kenneth D. Roselli*
Kenneth D. Roselli
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Vice President and Corporate Controller
(Principal Accounting Officer)
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/s/ William C. Blake*
William C. Blake
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Director
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/s/ John B. Jones, Jr.*
John B. Jones, Jr.
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Director
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/s/ Stephen C. Kiely*
Stephen C. Kiely
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Director
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/s/ Frank L. Lederman*
Frank L. Lederman
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Director
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II - 4
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/s/ Sally G. Narodick*
Sally G. Narodick
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Director
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/s/ Daniel C. Regis*
Daniel C. Regis
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Director
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/s/ Stephen C. Richards*
Stephen C. Richards
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Director
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*By
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/s/ Kenneth W. Johnson
Kenneth W. Johnson
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Attorney-in-Fact |
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II - 5