As
filed with the Securities and Exchange Commission on August 23 , 2016
Registration
No. 333-
213036
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Amendment
No. 1
to
FORM
S-3
REGISTRATION
STATEMENT
Under
THE
SECURITIES ACT OF 1933
ONCOSEC
MEDICAL INCORPORATED
(Exact
name of registrant as specified in its charter)
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Nevada
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98-0573252
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(State
or other jurisdiction of
incorporation or organization)
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(I.R.S.
Employer
Identification Number)
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5820
Nancy Ridge Drive
San
Diego, CA 92121
(855)
662-6732
(Address,
including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Punit
Dhillon
President
and Chief Executive Officer
OncoSec
Medical Incorporated
5820
Nancy Ridge Drive
San
Diego, CA 92121
(855)
662-6732
(Name,
address, including zip code, and telephone number, including area code, of agent for service)
Copies
to:
Steven
G. Rowles, Esq.
Morrison
& Foerster LLP
12531
High Bluff Drive, Suite 100
San
Diego, CA 92130
(858)
720-5100
Approximate
date of commencement of proposed sale to the public: From time to time, after the effective date of this registration statement.
If
the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please
check the following box. [ ]
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. [X]
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. [ ]
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) 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.
[ ]
If
this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become
effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. [ ]
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. [ ]
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 [ ]
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Non-accelerated
filer [ ] (Do not check if smaller reporting company)
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Smaller
reporting company [X]
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Pursuant
to Rule 429(a) of the Securities Act, the prospectus included in this registration statement is a combined prospectus relating
to the Newly Registered Securities and the Previously Registered Securities. Pursuant to Rule 429(b), this registration statement,
upon effectiveness, also constitutes a post-effective amendment to the registrant’s Registration Statement on Form S-3,
File No. 333-195387, initially filed on April 18, 2014 and declared effective on May 12, 2014 (the “Prior Registration Statement”),
which post-effective amendment shall hereafter become effective concurrently with the effectiveness of this registration statement
and in accordance with Section 8(c) of the Securities Act.
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 this registration statement shall become effective
on such date as the Commission, acting pursuant to said Section 8(a), may determine.
The
information in this prospectus is not complete and may be changed. We may not sell the securities until the registration statement
filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and is
not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
SUBJECT
TO COMPLETION, DATED AUGUST 23, 2016
PROSPECTUS
ONCOSEC
MEDICAL INCORPORATED
$100,000,000
Common
Stock
Warrants
Debt
Securities
Rights
Units
$5,471,763
Common
Stock
Warrants
Debt
Securities
By
this prospectus, we may offer, from time to time, up to $100,000,000 of any combination of the securities described in this prospectus.
Additionally, by this prospectus, we may offer, from time to time, up to $5,471,763 of any combination of common stock, debt securities
or warrants to purchase common stock and/or debt securities, which were registered pursuant to our Registration Statement on Form
S-3, File No. 333-187893, initially filed on April 18, 2014 and declared effective on May 12, 2014. All of the securities registered
hereby may be sold separately or as units with other securities.
This
prospectus may not be used to sell securities unless accompanied by a prospectus supplement, which will describe the method and
the terms of the offering. We will provide you with specific amount, price and terms of the applicable offered securities in one
or more supplements to this prospectus. You should read this prospectus and any supplement carefully before you purchase any of
our securities.
Our
common stock is listed on the NASDAQ Capital Market under the symbol “ONCS.” On August 22 , 2016, the closing
price of our common stock on the NASDAQ Capital Market was $1.83 per share. The aggregate market value of our outstanding
common stock held by non-affiliates, computed by reference to the last sold price of $1.91 per share on the NASDAQ Capital Market
on August 9, 2016, is approximately $34.3 million, based on 18,704,052 shares of common stock outstanding, of which 17,944,664
are held by non-affiliates. We have not offered or sold any securities pursuant to General Instruction I.B.6 of Form S-3
during the 12 calendar month period that ends on, and includes, the date of this prospectus.
Investing
in our securities involves risk. Please carefully read the information under “Risk Factors” beginning on page 3 for
information you should consider before investing in our securities.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
We
may offer the securities in amounts, at prices and on terms determined at the time of offering. We may sell the securities directly
to you, through agents we select, or through underwriters and dealers we select. If we use agents, underwriters or dealers to
sell the securities, we will name them and describe their compensation in a prospectus supplement. In addition, the underwriters
may overallot a portion of the securities. For additional information regarding the methods of sale of our securities, you should
refer to the section entitled “Plan of Distribution” in this prospectus.
This
prospectus is dated , 2016
Table
of Contents
ABOUT
THIS PROSPECTUS
This
prospectus is part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission (the “SEC”)
using a “shelf” registration process. Under this shelf process, we may, from time to time, offer or sell any combination
of the securities described in this prospectus in one or more offerings.
This
prospectus provides you with a general description of the securities offered by us. Each time we sell securities, we will provide
a prospectus supplement that will contain specific information about the terms of that offering. The prospectus supplement may
also add to, update or change information contained in the prospectus and, accordingly, to the extent inconsistent, information
in this prospectus is superseded by the information in the prospectus supplement.
The
prospectus supplement to be attached to the front of this prospectus may describe, as applicable: the terms of the securities
offered; the initial public offering price; the price paid for the securities; net proceeds; and the other specific terms related
to the offering of the securities.
You
should only rely on the information contained or incorporated by reference in this prospectus and any prospectus supplement or
issuer free writing prospectus relating to a particular offering. No person has been authorized to give any information or make
any representations in connection with this offering other than those contained or incorporated by reference in this prospectus,
any accompanying prospectus supplement and any related issuer free writing prospectus in connection with the offering described
herein and therein, and, if given or made, such information or representations must not be relied upon as having been authorized
by us. Neither this prospectus nor any prospectus supplement nor any related issuer free writing prospectus shall constitute an
offer to sell or a solicitation of an offer to buy offered securities in any jurisdiction in which it is unlawful for such person
to make such an offering or solicitation. This prospectus does not contain all of the information included in the registration
statement. For a more complete understanding of the offering of the securities, you should refer to the registration statement,
including its exhibits. You should read the entire prospectus and any prospectus supplement and any related issuer free writing
prospectus, as well as the documents incorporated by reference into this prospectus or any prospectus supplement or any related
issuer free writing prospectus, before making an investment decision. Neither the delivery of this prospectus or any prospectus
supplement or any issuer free writing prospectus nor any sale made hereunder shall under any circumstances imply that the information
contained or incorporated by reference herein or in any prospectus supplement or issuer free writing prospectus is correct as
of any date subsequent to the date hereof or of such prospectus supplement or issuer free writing prospectus, as applicable.
PROSPECTUS
SUMMARY
The
following summary highlights information contained in this prospectus or incorporated by reference. While we have included what
we believe to be the most important information about us and this offering, the following summary may not contain all the information
that may be important to you. You should read this entire prospectus carefully, including the risks of investing discussed under
“Risk Factors” beginning on page 3, the information to which we refer you and the information incorporated into this
prospectus by reference, for a complete understanding of our business and this offering. References in this prospectus to “our
company,” “we,” “our,” “us” and “OncoSec” refer to OncoSec Medical Incorporated,
a Nevada corporation.
Company
Overview
As
a biotechnology company, our mission is to focus on the advancement of immune system-stimulating treatments, with a focus on discovering
and developing novel immuno-oncology therapies. Our portfolio includes biologic immunology therapeutic product candidates intended
to treat a wide range of tumor types. Our technology also includes intellectual property relating to our ImmunoPulse™ delivery
technology. ImmunoPulse™ is an electroporation delivery device that we use in combination with our therapeutic product candidates,
including DNA plasmids that encode for immunologically active agents, to deliver the therapeutic directly into the tumor and promote
an inflammatory response against the cancer. This unique therapeutic modality is intended to reverse the immunosuppressive microenvironment
in the tumor and engender a systemic anti-tumor response against untreated tumors in other parts of the body. Our electroporation
devices consist of an electrical pulse generator and disposable applicators, which can be adapted to treat different tumor types.
Corporate
Information
We
were incorporated under the laws of the State of Nevada on February 8, 2008 under the name Netventory Solutions Inc. Initially,
we provided online inventory services to small and medium sized companies. In March 2011, we acquired certain assets related to
the use of drug-medical device combination products for the treatment of various cancers, abandoned our efforts in the online
inventory services industry and began focusing our efforts in the biotechnology industry, and changed our name to OncoSec Medical
Incorporated.
Our
principal executive offices are located at 5820 Nancy Ridge Drive, San Diego, California 92121. The telephone number at our principal
executive office is (855) 662-6732. Our website address is www.oncosec.com. Information contained on our website is not deemed
part of this prospectus.
The
Securities We May Offer
We
may offer up to $100,000,000 of common stock, warrants, debt securities, rights and units in one or more offerings and in any
combination, and we also may offer up to $5,471,763 of common stock, warrants and debt securities in one or more offerings and
in any combination. This prospectus provides you with a general description of the securities we may offer. A prospectus supplement,
which we will provide each time we offer securities, will describe the specific amounts, prices and terms of these securities.
We
may sell the securities to or through underwriters, dealers or agents or directly to purchasers or as otherwise set forth below
under “Plan of Distribution.” We, as well as any agents acting on our behalf, reserve the sole right to accept and
to reject in whole or in part any proposed purchase of securities. Each prospectus supplement will set forth the names of any
underwriters, dealers, agents or other entities involved in the sale of securities described in that prospectus supplement and
any applicable fee, commission or discount arrangements with them.
Capital
Stock
Our
capital stock consists of our common stock, par value $0.0001 per share. We may offer shares of our common stock, either alone
or underlying other registered securities exercisable for or convertible into our common stock. Holders of our common stock are
entitled to receive dividends declared by our board of directors out of funds legally available for the payment of dividends.
Currently, we do not pay a dividend. Each holder of common stock is entitled to one vote per share. The holders of common stock
have no preemptive rights.
Warrants
We
may offer warrants for the purchase of common stock or debt securities. We may issue warrants independently or together with other
securities.
Debt
Securities
We
may offer secured or unsecured obligations in the form of one or more series of senior or subordinated debt. The senior debt securities
and the subordinated debt securities are together referred to in this prospectus as “debt securities.” The senior
debt securities will have the same rank as all of our other unsubordinated debt. The subordinated debt securities generally will
be entitled to payment only after payment of our senior debt. Senior debt generally includes all debt for money borrowed by us,
except debt that is stated in the instrument governing the terms of that debt to be not senior to, or to have the same rank in
right of payment as, or to be expressly junior to, the subordinated debt securities. We may issue debt securities that are convertible
into shares of our common stock.
The
senior and subordinated debt securities will be issued under separate indentures between us and a trustee. We have summarized
the general features of the debt securities to be governed by the indentures. These indentures have been filed as exhibits to
the registration statement of which this prospectus forms a part. We encourage you to read these indentures. Instructions on how
you can get copies of these documents are provided under the heading “Where You Can Find More Information.”
Rights
We
may issue rights to purchase our common stock, debt securities or other securities, or any combination thereof. These rights may
be issued independently or together with other securities.
Units
We
may issue units composed of any combination of our common stock, warrants and debt securities.
RISK
FACTORS
An
investment in our securities involves a high degree of risk. The prospectus supplement applicable to each offering of our securities
will contain a discussion of the risks applicable to an investment in our securities. Prior to making a decision about investing
in our securities, you should carefully consider the specific factors discussed under the heading “Risk Factors” in
the applicable prospectus supplement, together with all of the other information contained or incorporated by reference in the
prospectus supplement or appearing or incorporated by reference in this prospectus. Each of the referenced risks and uncertainties
could adversely affect our business, operating results and financial condition, as well as adversely affect the value of an investment
in our securities.
FORWARD-LOOKING
STATEMENTS
This
prospectus and the registration statement of which it forms a part, any prospectus supplement, any related issuer free writing
prospectus and the documents incorporated by reference into these documents contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements deal with our current plans, intentions,
beliefs and expectations and statements of future economic performance. Statements containing terms such as “believe,”
“do not believe,” “plan,” “expect,” “intend,” “estimate,” “anticipate”
and other phrases of similar meaning are forward-looking statements and contain uncertainty. In addition, from time to time, we
or our representatives have made or will make forward-looking statements orally or in writing. Furthermore, such forward-looking
statements may be included in various filings that we make with the SEC, or press releases or oral statements made by or with
the approval of one of our authorized executive officers. These forward-looking statements are subject to certain known and unknown
risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in or
implied by these forward-looking statements. Factors that might cause actual results to differ include, among others, those set
forth under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results
of Operation” in our most recent Annual Report on Form 10-K, our subsequent Quarterly Reports on Form 10-Q, and in our future
filings made with the SEC. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this
prospectus, any prospectus supplement, any related issuer free writing prospectus or any documents incorporated herein or therein,
which reflect management’s opinions only as of their respective dates. Except as required by law, we undertake no obligation
to revise or publicly release the results of any revisions to any forward-looking statements. You are advised, however, to consult
any additional disclosures we have made or will make in our reports filed with the SEC on Forms 10-K, 10-Q and 8-K. All subsequent
written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their
entirety by the cautionary statements contained in this prospectus, any prospectus supplement, any related issuer free writing
prospectus, or any documents incorporated herein or therein.
RATIO
OF EARNINGS TO FIXED CHARGES
The
following table sets forth our ratio of earnings to fixed charges on a historical basis for each of the periods indicated. You
should read these ratios in connection with our consolidated financial statements, including the notes to those statements, incorporated
by reference in this prospectus.
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Fiscal
Year Ended July 31,
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Nine
Months Ended April 30,
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(In
thousands, except ratios)
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2011
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2012
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2013
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2014
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2015
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2016
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Ratio of earnings to fixed charges
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—
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—
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—
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—
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—
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—
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Deficiency of earnings to
fixed charges
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3,800
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2,400
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7,150
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12,000
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21,200
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6,300
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USE
OF PROCEEDS
Unless
otherwise indicated in the prospectus supplement, the net proceeds from the sale of securities offered by this prospectus will
be used for general corporate purposes and working capital requirements, which may include, among other things, the repayment
or repurchase of debt obligations and other capital expenditures. We may also use a portion of the net proceeds for licensing
or acquiring intellectual property or technologies to incorporate into our products and product candidates or our research and
development programs, capital expenditures, to fund possible investments in and acquisitions of complementary businesses or partnerships.
We have not determined the amounts we plan to spend on the areas listed above or the timing of these expenditures, and we have
no current plans with respect to acquisitions as of the date of this prospectus. As a result, unless otherwise indicated in the
prospectus supplement, our management will have broad discretion to allocate the net proceeds of the offerings. Pending their
ultimate use, we intend to invest the net proceeds in a variety of securities, including commercial paper, government and non-government
debt securities and/or money market funds that invest in such securities.
DIVIDEND
POLICY
We
have never paid cash dividends on our common stock. Moreover, we do not anticipate paying periodic cash dividends on our common
stock for the foreseeable future. We intend to use all available cash and liquid assets in the operation and growth of our business.
Any future determination about the payment of dividends will be made at the discretion of our board of directors and will depend
upon our earnings, if any, capital requirements, operating and financial conditions and on such other factors as our board of
directors deems relevant.
DESCRIPTION
OF CAPITAL STOCK
General
The
following summary of the material features of our capital stock does not purport to be complete and is subject to, and qualified
in its entirety by, the provisions of our articles of incorporation, as currently in effect, our amended and restated bylaws,
the Nevada Revised Statutes and other applicable law. For information on how to obtain copies of our articles of incorporation
and bylaws, which are exhibits to the registration statement of which this prospectus is a part, see “Where You Can Find
More Information.”
Pursuant
to our articles of incorporation, we are currently authorized to issue 160,000,000 shares of common stock, par value $0.0001 per
share. As of August 22 , 2016, there were 18,704,052 shares of our common stock outstanding.
Common
Stock
Voting
Rights
The
outstanding shares of our common stock are fully paid and non-assessable. Holders of our common stock are entitled to one vote,
in person or by proxy, for each share held of record on all matters submitted to a vote of the stockholders. Except as otherwise
provided by applicable law, holders of our common stock are not entitled to cumulative voting of their shares in elections of
directors.
Dividends
Subject
to the provisions of applicable law, including the Nevada Revised Statutes, the holders of shares of our common stock are entitled
to receive, when and as declared by the board of directors, dividends or other distributions (whether payable in cash, property,
or securities of OncoSec) out of the assets of OncoSec legally available for such dividends or other distributions.
Other
Rights
No
stockholder of OncoSec has any preemptive right under our articles of incorporation to subscribe for, purchase, or otherwise acquire
shares of any class or series of capital stock of OncoSec. The shares of our common stock are not subject to redemption by operation
of a sinking fund or otherwise. In the event of any liquidation, dissolution, or winding up of OncoSec, subject to the rights,
if any, of the holders of other classes of our capital stock, the holders of shares of our common stock are entitled to receive
any of our assets available for distribution to our stockholders ratably in proportion to the number of shares held by them.
Our
common stock is listed on the NASDAQ Capital Market under the symbol “ONCS”.
Liability
and Indemnification of Directors and Officers
The
Nevada Revised Statutes provide us with the power to indemnify any of our directors and officers. The director or officer must
have conducted himself/herself in good faith and reasonably believe that his/her conduct was in, or not opposed to, our best interests.
In a criminal action, the director or officer must not have had reasonable cause to believe his/her conduct was unlawful.
Under
applicable sections of the Nevada Revised Statutes, advances for expenses may be made by agreement if the director or officer
affirms in writing that he/she believes he/she has met the standards and will personally repay the expenses if it is determined
the officer or director did not meet the standards.
Our
bylaws include an indemnification provision under which we must indemnify any of our directors or officers, or any of our former
directors or officers, to the full extent permitted by law. We have also entered into indemnification agreements with each of
our directors and officers under which we must indemnify them to the full extent permitted by law. If Section 2115 of the California
Corporations Code is applicable to us, certain laws of California relating to the indemnification of directors, officer and others
also will govern.
At
present, there is no pending litigation or proceeding involving any of our directors or officers for which indemnification is
sought, nor are we aware of any threatened litigation that is likely to result in claims for indemnification. We also maintain
insurance policies that indemnify our directors and officers against various liabilities, including liabilities arising under
the Securities Act, which may be incurred by any director or officer in his or her capacity as such.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted for our directors, officers and controlling
persons pursuant to the foregoing provisions, or otherwise, 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 a claim for indemnification against such liabilities (other than payment by us for expenses incurred or paid by a
director, officer or controlling person of ours in successful defense of any action, suit, or proceeding) is asserted by a director,
officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction, the question of whether such
indemnification by it is against public policy in the Securities Act and will be governed by the final adjudication of such issue.
Anti-Takeover
Provisions of Nevada State Law
Some
features of the Nevada Revised Statutes, which are further described below, may have the effect of deterring third parties from
making takeover bids for control of us or may be used to hinder or delay a takeover bid. This would decrease the chance that our
stockholders would realize a premium over market price for their shares of common stock as a result of a takeover bid.
Acquisition
of Controlling Interest
The
Nevada Revised Statutes contain provisions governing acquisition of a controlling interest of a Nevada corporation. These provisions
provide generally that any person or entity that acquires a certain percentage of the outstanding voting shares of a Nevada corporation
may be denied voting rights with respect to the acquired shares, unless certain criteria are satisfied. Our Amended and Restated
Bylaws provide that these provisions will not apply to us or to any existing or future stockholder or stockholders.
Combination
with Interested Stockholder
The
Nevada Revised Statutes contain provisions governing the combination of a Nevada corporation that has 200 or more stockholders
of record with an interested stockholder. These provisions may have the effect of delaying or making it more difficult to affect
a change in control of our company.
A
corporation affected by these provisions may not engage in a combination within three years after the interested stockholder acquires
his, her or its shares unless the combination or purchase is approved by the board of directors before the interested stockholder
acquired such shares. Generally, if approval is not obtained, then after the expiration of the three-year period, the business
combination may be consummated with the approval of the board of directors before the person became an interested stockholder
or a majority of the voting power held by disinterested stockholders, or if the consideration to be received per share by disinterested
stockholders is at least equal to the highest of:
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the
highest price per share paid by the interested stockholder within the three years immediately preceding the date of the announcement
of the combination or within three years immediately before, or in, the transaction in which he, she or it became an interested
stockholder, whichever is higher;
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the
market value per share on the date of announcement of the combination or the date the person became an interested stockholder,
whichever is higher; or
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if
higher for the holders of preferred stock, the highest liquidation value of the preferred stock, if any.
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Generally,
these provisions define an interested stockholder as a person who is the beneficial owner, directly or indirectly of 10% or more
of the voting power of the outstanding voting shares of a corporation, and define combination to include any merger or consolidation
with an interested stockholder, or any sale, lease, exchange, mortgage, pledge, transfer or other disposition, in one transaction
or a series of transactions with an interested stockholder of assets of the corporation having:
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an
aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation;
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an
aggregate market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation; or
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representing
10% or more of the earning power or net income of the corporation.
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Articles
of Incorporation and Bylaws
There
are no provisions in our articles of incorporation or our bylaws that would delay, defer or prevent a change in control of our
company and that would operate only with respect to an extraordinary corporate transaction involving our company or any of our
subsidiaries, such as merger, reorganization, tender offer, sale or transfer of substantially all of its assets, or liquidation.
Transfer
Agent
The
transfer agent for our common stock is Nevada Agency and Transfer Company. The transfer agent’s address is 50 West Liberty
Street, Suite 880, Reno, Nevada 89501.
DESCRIPTION
OF WARRANTS
General
We
may issue warrants for the purchase of our debt securities or common stock, or any combination thereof. Warrants may be issued
independently or together with any other security offered hereby and may be attached to or separate from any offered securities.
The warrants may be issued under a warrant agreement that we enter into with a warrant agent, all as shall be set forth in a prospectus
supplement relating to the particular series of warrants being offered pursuant to this prospectus and such prospectus supplement.
This summary of certain provisions of the warrants is not complete. For the terms of a particular series of warrants, you should
refer to the prospectus supplement for that series of warrants and the warrant agreement for that particular series.
Debt
Warrants
The
prospectus supplement relating to a particular issue of warrants to purchase debt securities will describe the terms of the debt
warrants, including the following:
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the
title of the debt warrants;
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the
offering price for the debt warrants, if any;
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the
aggregate number of the debt warrants;
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the
designation and terms of the debt securities, including any conversion rights, purchasable upon exercise of the debt warrants;
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if
applicable, the date from and after which the debt warrants and any debt securities issued with them will be separately transferable;
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the
principal amount of debt securities that may be purchased upon exercise of a debt warrant and the exercise price for the warrants,
which may be payable in cash, securities or other property;
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the
dates on which the right to exercise the debt warrants will commence and expire;
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if
applicable, the minimum or maximum amount of the debt warrants that may be exercised at any one time;
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whether
the debt warrants represented by the debt warrant certificates or debt securities that may be issued upon exercise of the
debt warrants will be issued in registered or bearer form;
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information
with respect to book-entry procedures, if any; the currency or currency units in which the offering price, if any, and the
exercise price are payable;
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if
applicable, a discussion of material U.S. federal income tax considerations;
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the
antidilution provisions of the debt warrants, if any;
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the
redemption or call provisions, if any, applicable to the debt warrants;
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any
provisions with respect to the holder’s right to require us to repurchase the warrants upon a change in control or similar
event; and
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any
additional terms of the debt warrants, including procedures, and limitations relating to the exchange, exercise and settlement
of the debt warrants.
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Debt
warrant certificates will be exchangeable for new debt warrant certificates of different denominations. Debt warrants may be exercised
at the corporate trust office of the warrant agent or any other office indicated in the prospectus supplement. Prior to the exercise
of their debt warrants, holders of debt warrants will not have any of the rights of holders of the debt securities purchasable
upon exercise and will not be entitled to payment of principal or any premium, if any, or interest on the debt securities purchasable
upon exercise.
Equity
Warrants
The
prospectus supplement relating to a particular series of warrants to purchase our common stock will describe the terms of the
warrants, including the following:
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the
title of the warrants;
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the
offering price for the warrants, if any;
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the
aggregate number of warrants;
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the
designation and terms of the common stock that may be purchased upon exercise of the warrants;
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if
applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued
with each security;
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if
applicable, the date from and after which the warrants and any securities issued with the warrants will be separately transferable;
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the
number of shares of common stock that may be purchased upon exercise of a warrant and the exercise price for the warrants;
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the
dates on which the right to exercise the warrants shall commence and expire;
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if
applicable, the minimum or maximum amount of the warrants that may be exercised at any one time;
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the
currency or currency units in which the offering price, if any, and the exercise price are payable;
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if
applicable, a discussion of material U.S. federal income tax considerations;
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the
antidilution provisions of the warrants, if any;
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the
redemption or call provisions, if any, applicable to the warrants;
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any
provisions with respect to the holder’s right to require us to repurchase the warrants upon a change in control or similar
event; and
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any
additional terms of the warrants, including procedures, and limitations relating to the exchange, exercise and settlement
of the warrants.
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Holders
of equity warrants will not be entitled:
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to
vote, consent or receive dividends;
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receive
notice as stockholders with respect to any meeting of stockholders for the election of our directors or any other matter;
or
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exercise
any rights as stockholders of us.
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DESCRIPTION
OF DEBT SECURITIES
The
debt securities may be either secured or unsecured and will either be our senior debt securities or our subordinated debt securities.
The debt securities will be issued under one or more separate indentures between us and a trustee to be specified in an accompanying
prospectus supplement. Senior debt securities will be issued under a senior indenture and subordinated debt securities will be
issued under a subordinated indenture. Together, the senior indenture and the subordinated indenture are called indentures in
this description. This prospectus, together with the applicable prospectus supplement, will describe the terms of a particular
series of debt securities.
The
following is a summary of selected provisions and definitions of the indentures and debt securities to which any prospectus supplement
may relate. The summary of selected provisions of the indentures and the debt securities appearing below is not complete and is
subject to, and qualified entirely by reference to, all of the provisions of the applicable indenture and certificates evidencing
the applicable debt securities. For additional information, you should look at the applicable indenture and the certificate evidencing
the applicable debt security that is filed as an exhibit to the registration statement that includes the prospectus. In this description
of the debt securities, the words “OncoSec,” “we,” “us,” or “our” refer only to
OncoSec Medical Incorporated and not to any of our subsidiaries, unless we expressly state or the context otherwise requires.
The
following description sets forth selected general terms and provisions of the applicable indenture and debt securities to which
any prospectus supplement may relate. Other specific terms of the applicable indenture and debt securities will be described in
the applicable prospectus supplement. If any particular terms of the indenture or debt securities described in a prospectus supplement
differ from any of the terms described below, then the terms described below will be deemed to have been superseded by that prospectus
supplement.
General
Debt
securities may be issued in separate series without limitation as to aggregate principal amount. We may specify a maximum aggregate
principal amount for the debt securities of any series.
We
are not limited as to the amount of debt securities we may issue under the indentures. Unless otherwise provided in a prospectus
supplement, a series of debt securities may be reopened to issue additional debt securities of such series.
The
prospectus supplement relating to a particular series of debt securities will set forth:
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whether
the debt securities are senior or subordinated;
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the
offering price;
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the
title;
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any
limit on the aggregate principal amount;
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the
person who shall be entitled to receive interest, if other than the record holder on the record date;
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the
date or dates the principal will be payable;
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the
interest rate or rates, which may be fixed or variable, if any, the date from which interest will accrue, the interest payment
dates and the regular record dates, or the method for calculating the dates and rates;
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the
place where payments may be made;
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any
mandatory or optional redemption provisions or sinking fund provisions and any applicable redemption or purchase prices associated
with these provisions;
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if
issued other than in denominations of U.S. $1,000 or any multiple of U.S. $1,000, the denominations in which the debt securities
shall be issuable;
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if
applicable, the method for determining how the principal, premium, if any, or interest will be calculated by reference to
an index or formula;
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if
other than U.S. currency, the currency or currency units in which principal, premium, if any, or interest will be payable
and whether we or a holder may elect payment to be made in a different currency;
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the
portion of the principal amount that will be payable upon acceleration of maturity, if other than the entire principal amount;
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if
the principal amount payable at stated maturity will not be determinable as of any date prior to stated maturity, the amount
or method for determining the amount which will be deemed to be the principal amount;
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if
applicable, whether the debt securities shall be subject to the defeasance provisions described below under “Satisfaction
and discharge; defeasance” or such other defeasance provisions specified in the applicable prospectus supplement for
the debt securities;
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any
conversion or exchange provisions;
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whether
the debt securities will be issuable in the form of a global security;
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any
subordination provisions applicable to the subordinated debt securities if different from those described below under “Subordinated
debt securities;”
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any
paying agents, authenticating agents, security registrars or other agents for the debt securities, if other than the trustee;
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any
provisions relating to any security provided for the debt securities, including any provisions regarding the circumstances
under which collateral may be released or substituted;
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any
deletions of, or changes or additions to, the events of default, acceleration provisions or covenants;
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any
provisions relating to guaranties for the securities and any circumstances under which there may be additional obligors;
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the
terms, if any, upon which such debt securities are to be issuable upon the exercise of warrants, units or rights; and
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any
other specific terms of such debt securities.
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Unless
otherwise specified in the prospectus supplement, the debt securities will be registered debt securities. Debt securities may
be sold at a substantial discount below their stated principal amount, bearing no interest or interest at a rate which at time
of issuance is below market rates. The U.S. federal income tax considerations applicable to debt securities sold at a discount
will be described in the applicable prospectus supplement.
Exchange
and Transfer
Debt
securities may be transferred or exchanged at the office of the security registrar or at the office of any transfer agent designated
by us.
We
will not impose a service charge for any transfer or exchange, but we may require holders to pay any tax or other governmental
charges associated with any transfer or exchange.
In
the event of any partial redemption of debt securities of any series, we will not be required to:
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issue,
register the transfer of, or exchange, any debt security of that series during a period beginning at the opening of business
15 days before the day of mailing of a notice of redemption and ending at the close of business on the day of the mailing;
or
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register
the transfer of or exchange any debt security of that series selected for redemption, in whole or in part, except the unredeemed
portion being redeemed in part.
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We
will appoint the trustee as the initial security registrar. Any transfer agent, in addition to the security registrar initially
designated by us, will be named in the prospectus supplement. We may designate additional transfer agents or change transfer agents
or change the office of the transfer agent. However, we will be required to maintain a transfer agent in each place of payment
for the debt securities of each series.
Global
Securities
The
debt securities of any series may be represented, in whole or in part, by one or more global securities. Each global security
will:
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be
registered in the name of a depositary, or its nominee, that we will identify in a prospectus supplement;
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be
deposited with the depositary or nominee or custodian; and
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bear
any required legends.
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No
global security may be exchanged in whole or in part for debt securities registered in the name of any person other than the depositary
or any nominee unless:
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the
depositary has notified us that it is unwilling or unable to continue as depositary or has ceased to be qualified to act as
depositary;
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an
event of default is continuing with respect to the debt securities of the applicable series; or
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any
other circumstance described in a prospectus supplement has occurred permitting or requiring the issuance of any such security.
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As
long as the depositary, or its nominee, is the registered owner of a global security, the depositary or nominee will be considered
the sole owner and holder of the debt securities represented by the global security for all purposes under the indentures. Except
in the above limited circumstances, owners of beneficial interests in a global security will not be:
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entitled
to have the debt securities registered in their names;
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entitled
to physical delivery of certificated debt securities; or
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considered
to be holders of those debt securities under the indenture.
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Payments
on a global security will be made to the depositary or its nominee as the holder of the global security. Some jurisdictions have
laws that require that certain purchasers of securities take physical delivery of such securities in definitive form. These laws
may impair the ability to transfer beneficial interests in a global security.
Institutions
that have accounts with the depositary or its nominee are referred to as “participants.” Ownership of beneficial interests
in a global security will be limited to participants and to persons that may hold beneficial interests through participants. The
depositary will credit, on its book-entry registration and transfer system, the respective principal amounts of debt securities
represented by the global security to the accounts of its participants.
Ownership
of beneficial interests in a global security will be shown on and effected through records maintained by the depositary, with
respect to participants’ interests, or any participant, with respect to interests of persons held by participants on their
behalf.
Payments,
transfers and exchanges relating to beneficial interests in a global security will be subject to policies and procedures of the
depositary. The depositary policies and procedures may change from time to time. Neither any trustee nor we will have any responsibility
or liability for the depositary’s or any participant’s records with respect to beneficial interests in a global security.
Payment
and Paying Agents
Unless
otherwise indicated in a prospectus supplement, the provisions described in this paragraph will apply to the debt securities.
Payment of interest on a debt security on any interest payment date will be made to the person in whose name the debt security
is registered at the close of business on the regular record date. Payment on debt securities of a particular series will be payable
at the office of a paying agent or paying agents designated by us. However, at our option, we may pay interest by mailing a check
to the record holder. The trustee will be designated as our initial paying agent.
We
may also name any other paying agents in a prospectus supplement. We may designate additional paying agents, change paying agents
or change the office of any paying agent. However, we will be required to maintain a paying agent in each place of payment for
the debt securities of a particular series.
All
moneys paid by us to a paying agent for payment on any debt security that remain unclaimed for a period ending the earlier of:
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10
business days prior to the date the money would be turned over to the applicable state; or
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at
the end of two years after such payment was due,
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will
be repaid to us thereafter. The holder may look only to us for such payment.
No
Protection in the Event of a Change of Control
Unless
otherwise indicated in a prospectus supplement with respect to a particular series of debt securities, the debt securities will
not contain any provisions that may afford holders of the debt securities protection in the event we have a change in control
or in the event of a highly leveraged transaction, whether or not such transaction results in a change in control.
Covenants
Unless
otherwise indicated in a prospectus supplement with respect to a particular series of debt securities, the debt securities will
not contain any financial or restrictive covenants.
Consolidation,
Merger and Sale of Assets
Unless
we indicate otherwise in a prospectus supplement with respect to a particular series of debt securities, we may not consolidate
with or merge into any other person (other than a subsidiary of us), in a transaction in which we are not the surviving corporation,
or convey, transfer or lease our properties and assets substantially as an entirety to, any person (other than a subsidiary of
us), unless:
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the
successor entity, if any, is a U.S. corporation, limited liability company, partnership, trust or other business entity;
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the
successor entity assumes our obligations on the debt securities and under the indentures;
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immediately
after giving effect to the transaction, no default or event of default shall have occurred and be continuing; and
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certain
other conditions specified in the indenture are met.
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Events
of Default
Unless
we indicate otherwise in a prospectus supplement, the following will be events of default for any series of debt securities under
the indentures:
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(i)
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we
fail to pay principal of or any premium on any debt security of that series when due;
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(ii)
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we
fail to pay any interest on any debt security of that series for 60 days after it becomes due;
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(iii)
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we
fail to deposit any sinking fund payment when due;
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(iv)
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we
fail to perform any other covenant in the indenture and such failure continues for 90 days after we are given the notice required
in the indentures; and
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(v)
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certain
events involving our bankruptcy, insolvency or reorganization.
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Additional
or different events of default applicable to a series of debt securities may be described in a prospectus supplement. An event
of default of one series of debt securities is not necessarily an event of default for any other series of debt securities.
The
trustee may withhold notice to the holders of any default, except defaults in the payment of principal, premium, if any, interest,
any sinking fund installment on, or with respect to any conversion right of, the debt securities of such series. However, the
trustee must consider it to be in the interest of the holders of the debt securities of such series to withhold this notice.
Unless
we indicate otherwise in a prospectus supplement, if an event of default, other than an event of default described in clause (v)
above, shall occur and be continuing with respect to any series of debt securities, either the trustee or the holders of at least
a 25 percent in aggregate principal amount of the outstanding securities of that series may declare the principal amount and premium,
if any, of the debt securities of that series, or if any debt securities of that series are original issue discount securities,
such other amount as may be specified in the applicable prospectus supplement, in each case together with accrued and unpaid interest,
if any, thereon, to be due and payable immediately.
Unless
we indicate otherwise in a prospectus supplement, if an event of default described in clause (v) above shall occur, the principal
amount and premium, if any, of all the debt securities of that series, or if any debt securities of that series are original issue
discount securities, such other amount as may be specified in the applicable prospectus supplement, in each case together with
accrued and unpaid interest, if any, thereon, will automatically become immediately due and payable. Any payment by us on the
subordinated debt securities following any such acceleration will be subject to the subordination provisions described below under
“Subordinated debt securities.”
Notwithstanding
the foregoing, each indenture will provide that we may, at our option, elect that the sole remedy for an event of default relating
to our failure to comply with our obligations described under the section entitled “Reports” below or our failure
to comply with the requirements of Section 314(a)(1) of the Trust Indenture Act will for the first 180 days after the occurrence
of such an event of default consist exclusively of the right to receive additional interest on the relevant series of debt securities
at an annual rate equal to (i) 0.25% of the principal amount of such series of debt securities for the first 90 days after the
occurrence of such event of default and (ii) 0.50% of the principal amount of such series of debt securities from the 91st day
to, and including, the 180th day after the occurrence of such event of default, which we call “additional interest.”
If we so elect, the additional interest will accrue on all outstanding debt securities from and including the date on which such
event of default first occurs until such violation is cured or waived and shall be payable on each relevant interest payment date
to holders of record on the regular record date immediately preceding the interest payment date. On the 181st day after such event
of default (if such violation is not cured or waived prior to such 181st day), the debt securities will be subject to acceleration
as provided above. In the event we do not elect to pay additional interest upon any such event of default in accordance with this
paragraph, the debt securities will be subject to acceleration as provided above.
In
order to elect to pay the additional interest as the sole remedy during the first 180 days after the occurrence of any event of
default relating to the failure to comply with the reporting obligations in accordance with the preceding paragraph, we must notify
all holders of debt securities and the trustee and paying agent of such election prior to the close of business on the first business
day following the date on which such event of default occurs. Upon our failure to timely give such notice or pay the additional
interest, the debt securities will be immediately subject to acceleration as provided above.
After
acceleration, the holders of a majority in aggregate principal amount of the outstanding securities of that series may, under
certain circumstances, rescind and annul such acceleration if all events of default, other than the non-payment of accelerated
principal, or other specified amounts or interest, have been cured or waived.
Other
than the duty to act with the required care during an event of default, the trustee will not be obligated to exercise any of its
rights or powers at the request of the holders unless the holders shall have offered to the trustee reasonable indemnity. Generally,
the holders of a majority in aggregate principal amount of the outstanding debt securities of any series will have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the trustee or exercising any trust
or power conferred on the trustee.
A
holder of debt securities of any series will not have any right to institute any proceeding under the indentures, or for the appointment
of a receiver or a trustee, or for any other remedy under the indentures, unless:
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(i)
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the
holder has previously given to the trustee written notice of a continuing event of default with respect to the debt securities
of that series;
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(ii)
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the
holders of at least 25 percent in aggregate principal amount of the outstanding debt securities of that series have made a
written request and have offered reasonable indemnity to the trustee to institute the proceeding; and
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(iii)
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the
trustee has failed to institute the proceeding and has not received direction inconsistent with the original request from
the holders of a majority in aggregate principal amount of the outstanding debt securities of that series within 60 days after
the original request.
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Holders
may, however, sue to enforce the payment of principal, premium or interest on any debt security on or after the due date or to
enforce the right, if any, to convert any debt security (if the debt security is convertible) without following the procedures
listed in (i) through (iii) above.
We
will furnish the trustee an annual statement from our officers as to whether or not we are in default in the performance of the
conditions and covenants under the indenture and, if so, specifying all known defaults.
Modification
and Waiver
Unless
we indicate otherwise in a prospectus supplement, the applicable trustee and we may make modifications and amendments to an indenture
with the consent of the holders of a majority in aggregate principal amount of the outstanding securities of each series affected
by the modification or amendment.
We
may also make modifications and amendments to the indentures for the benefit of holders without their consent, for certain purposes
including, but not limited to:
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providing
for our successor to assume the covenants under the indenture;
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adding
covenants or events of default;
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making
certain changes to facilitate the issuance of the securities;
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securing
the securities;
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providing
for a successor trustee or additional trustees;
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curing
any ambiguities or inconsistencies;
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providing
for guaranties of, or additional obligors on, the securities;
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permitting
or facilitating the defeasance and discharge of the securities; and
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other
changes specified in the indenture.
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However,
neither the trustee nor we may make any modification or amendment without the consent of the holder of each outstanding security
of that series affected by the modification or amendment if such modification or amendment would:
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change
the stated maturity of any debt security;
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reduce
the principal, premium, if any, or interest on any debt security or any amount payable upon redemption or repurchase, whether
at our option or the option of any holder, or reduce the amount of any sinking fund payments;
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reduce
the principal of an original issue discount security or any other debt security payable on acceleration of maturity;
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change
the place of payment or the currency in which any debt security is payable;
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impair
the right to enforce any payment after the stated maturity or redemption date;
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if
subordinated debt securities, modify the subordination provisions in a materially adverse manner to the holders;
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adversely
affect the right to convert any debt security if the debt security is a convertible debt security; or
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change
the provisions in the indenture that relate to modifying or amending the indenture.
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Satisfaction
and Discharge; Defeasance
We
may be discharged from our obligations on the debt securities, subject to limited exceptions, of any series that have matured
or will mature or be redeemed within one year if we deposit enough money with the trustee to pay all the principal, interest and
any premium due to the stated maturity date or redemption date of the debt securities.
Each
indenture contains a provision that permits us to elect either or both of the following:
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we
may elect to be discharged from all of our obligations, subject to limited exceptions, with respect to any series of debt
securities then outstanding. If we make this election, the holders of the debt securities of the series will not be entitled
to the benefits of the indenture, except for the rights of holders to receive payments on debt securities or the registration
of transfer and exchange of debt securities and replacement of lost, stolen or mutilated debt securities.
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we
may elect to be released from our obligations under some or all of any financial or restrictive covenants applicable to the
series of debt securities to which the election relates and from the consequences of an event of default resulting from a
breach of those covenants.
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To
make either of the above elections, we must irrevocably deposit in trust with the trustee enough money to pay in full the principal,
interest and premium on the debt securities. This amount may be made in cash and/or U.S. government obligations or, in the case
of debt securities denominated in a currency other than U.S. dollars, cash in the currency in which such series of securities
is denominated and/or foreign government obligations. As a condition to either of the above elections, for debt securities denominated
in U.S. dollars we must deliver to the trustee an opinion of counsel that the holders of the debt securities will not recognize
income, gain or loss for U.S. federal income tax purposes as a result of the action.
With
respect to debt securities of any series that are denominated in a currency other than United States dollars, “foreign government
obligations” means:
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direct
obligations of the government that issued or caused to be issued the currency in which such securities are denominated and
for the payment of which obligations its full faith and credit is pledged, or, with respect to debt securities of any series
which are denominated in Euros, direct obligations of certain members of the European Union for the payment of which obligations
the full faith and credit of such members is pledged, which in each case are not callable or redeemable at the option of the
issuer thereof; or
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obligations
of a person controlled or supervised by or acting as an agency or instrumentality of a government described in the bullet
above the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government,
which are not callable or redeemable at the option of the issuer thereof.
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Reports
The
indentures provide that any reports or documents that we file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act
will be filed with the trustee within 15 days after the same is filed with the SEC. Documents filed by us with the SEC via the
EDGAR system will be deemed filed with the trustee as of the time such documents are filed with the SEC.
Notices
Notices
to holders will be given by mail to the addresses of the holders in the security register.
Governing
Law
The
indentures and the debt securities will be governed by, and construed under, the laws of the State of New York.
No
Personal Liability of Directors, Officers, Employees and Stockholders
No
incorporator, stockholder, employee, agent, officer, director or subsidiary of ours will have any liability for any obligations
of ours, or because of the creation of any indebtedness under the debt securities, the indentures or supplemental indentures.
The indentures provide that all such liability is expressly waived and released as a condition of, and as a consideration for,
the execution of such indentures and the issuance of the debt securities.
Regarding
the Trustee
The
indentures limit the right of the trustee, should it become our creditor, to obtain payment of claims or secure its claims.
The
trustee will be permitted to engage in certain other transactions with us. However, if the trustee acquires any conflicting interest,
and there is a default under the debt securities of any series for which it is trustee, the trustee must eliminate the conflict
or resign.
Subordinated
Debt Securities
The
following provisions will be applicable with respect to each series of subordinated debt securities, unless otherwise stated in
the prospectus supplement relating to that series of subordinated debt securities.
The
indebtedness evidenced by the subordinated debt securities of any series is subordinated, to the extent provided in the subordinated
indenture and the applicable prospectus supplement, to the prior payment in full, in cash or other payment satisfactory to the
holders of senior debt, of all senior debt, including any senior debt securities.
Upon
any distribution of our assets upon any dissolution, winding up, liquidation or reorganization, whether voluntary or involuntary,
marshalling of assets, assignment for the benefit of creditors, or in bankruptcy, insolvency, receivership or other similar proceedings,
payments on the subordinated debt securities will be subordinated in right of payment to the prior payment in full in cash or
other payment satisfactory to holders of senior debt of all senior debt.
In
the event of any acceleration of the subordinated debt securities of any series because of an event of default with respect to
the subordinated debt securities of that series, holders of any senior debt would be entitled to payment in full in cash or other
payment satisfactory to holders of senior debt of all senior debt before the holders of subordinated debt securities are entitled
to receive any payment or distribution.
In
addition, the subordinated debt securities will be structurally subordinated to all indebtedness and other liabilities of our
subsidiaries, including trade payables and lease obligations. This occurs because our right to receive any assets of our subsidiaries
upon their liquidation or reorganization, and your right to participate in those assets, will be effectively subordinated to the
claims of that subsidiary’s creditors, including trade creditors, except to the extent that we are recognized as a creditor
of such subsidiary. If we are recognized as a creditor of that subsidiary, our claims would still be subordinate to any security
interest in the assets of the subsidiary and any indebtedness of the subsidiary senior to us.
We
are required to promptly notify holders of senior debt or their representatives under the subordinated indenture if payment of
the subordinated debt securities is accelerated because of an event of default.
Under
the subordinated indenture, we may also not make payment on the subordinated debt securities if:
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a
default in our obligations to pay principal, premium, if any, interest or other amounts on our senior debt occurs and the
default continues beyond any applicable grace period, which we refer to as a payment default; or
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any
other default occurs and is continuing with respect to designated senior debt that permits holders of designated senior debt
to accelerate its maturity, which we refer to as a non-payment default, and the trustee receives a payment blockage notice
from us or some other person permitted to give the notice under the subordinated indenture.
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We
will resume payments on the subordinated debt securities:
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in
case of a payment default, when the default is cured or waived or ceases to exist, and
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in
case of a nonpayment default, the earlier of when the default is cured or waived or ceases to exist or 179 days after the
receipt of the payment blockage notice.
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No
new payment blockage period may commence on the basis of a nonpayment default unless 365 days have elapsed from the effectiveness
of the immediately prior payment blockage notice. No nonpayment default that existed or was continuing on the date of delivery
of any payment blockage notice to the trustee shall be the basis for a subsequent payment blockage notice.
As
a result of these subordination provisions, in the event of our bankruptcy, dissolution or reorganization, holders of senior debt
may receive more, ratably, and holders of the subordinated debt securities may receive less, ratably, than our other creditors.
The subordination provisions will not prevent the occurrence of any event of default under the subordinated indenture.
The
subordination provisions will not apply to payments from money or government obligations held in trust by the trustee for the
payment of principal, interest and premium, if any, on subordinated debt securities pursuant to the provisions described under
the section entitled “Satisfaction and discharge; defeasance,” if the subordination provisions were not violated at
the time the money or government obligations were deposited into trust.
If
the trustee or any holder receives any payment that should not have been made to them in contravention of subordination provisions
before all senior debt is paid in full in cash or other payment satisfactory to holders of senior debt, then such payment will
be held in trust for the holders of senior debt.
Senior
debt securities will constitute senior debt under the subordinated indenture.
Additional
or different subordination provisions may be described in a prospectus supplement relating to a particular series of debt securities.
Definitions
For
purposes of this description of debt securities, the following definitions shall apply:
“Designated
senior debt” means our obligations under any particular senior debt in which the instrument creating or evidencing the same
or the assumption or guarantee thereof, or related agreements or documents to which we are a party, expressly provides that such
indebtedness shall be designated senior debt for purposes of the subordinated indenture. The instrument, agreement or other document
evidencing any designated senior debt may place limitations and conditions on the right of such senior debt to exercise the rights
of designated senior debt.
“Indebtedness”
means the following, whether absolute or contingent, secured or unsecured, due or to become due, outstanding on the date of the
indenture for such series of securities or thereafter created, incurred or assumed:
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our
indebtedness evidenced by a credit or loan agreement, note, bond, debenture or other written obligation;
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all
of our obligations for money borrowed;
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all
of our obligations evidenced by a note or similar instrument given in connection with the acquisition of any businesses, properties
or assets of any kind;
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our
obligations:
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as
lessee under leases required to be capitalized on the balance sheet of the lessee under generally accepted accounting principles,
or
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as
lessee under leases for facilities, capital equipment or related assets, whether or not capitalized, entered into or leased
for financing purposes;
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all
of our obligations under interest rate and currency swaps, caps, floors, collars, hedge agreements, forward contracts or similar
agreements or arrangements;
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all
of our obligations with respect to letters of credit, bankers’ acceptances and similar facilities, including reimbursement
obligations with respect to the foregoing;
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all
of our obligations issued or assumed as the deferred purchase price of property or services, but excluding trade accounts
payable and accrued liabilities arising in the ordinary course of business;
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all
obligations of the type referred to in the above clauses of another person, the payment of which, in either case, we have
assumed or guaranteed, for which we are responsible or liable, directly or indirectly, jointly or severally, as obligor, guarantor
or otherwise, or which are secured by a lien on our property; and
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renewals,
extensions, modifications, replacements, restatements and refundings of, or any indebtedness or obligation issued in exchange
for, any such indebtedness or obligation described in the above clauses of this definition.
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“Senior
debt” means the principal of, premium, if any, and interest, including all interest accruing subsequent to the commencement
of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such
proceeding, and rent payable on or in connection with, and all fees and other amounts payable in connection with, our indebtedness.
However, senior debt shall not include:
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any
debt or obligation if its terms or the terms of the instrument under which or pursuant to which it is issued expressly provide
that it shall not be senior in right of payment to the subordinated debt securities or expressly provide that such indebtedness
is on the same basis or “junior” to the subordinated debt securities; or
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debt
to any of our subsidiaries, a majority of the voting stock of which is owned, directly or indirectly, by us.
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“Subsidiary”
means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by us or by one or
more or our other subsidiaries or by a combination of us and our other subsidiaries. For purposes of this definition, “voting
stock” means stock or other similar interests which ordinarily has or have voting power for the election of directors, or
persons performing similar functions, whether at all times or only so long as no senior class of stock or other interests has
or have such voting power by reason of any contingency.
DESCRIPTION
OF RIGHTS
We
may issue rights to purchase our common stock, debt securities or other securities, or any combination thereof. These rights may
be issued independently or together with any other security offered hereby and may or may not be transferable by the stockholder
receiving the rights. In connection with any offering of rights, we may enter into a standby arrangement with one or more underwriters
or other purchasers pursuant to which the underwriters or other purchasers may be required to purchase any securities remaining
unsubscribed for after such offering.
Each
series of rights will be issued under a separate rights agreement, which we will enter into with a bank or trust company, as rights
agent, all of which will be set forth in the relevant offering material. The rights agent will act solely as our agent in connection
with the certificates relating to the rights and will not assume any obligation or relationship of agency or trust with any holders
of rights certificates or beneficial owners of rights.
The
following description is a summary of selected provisions relating to rights to which any prospectus supplement may relate, all
as shall be set forth in a prospectus supplement relating to the particular rights being offered pursuant to this prospectus and
such prospectus supplement. This summary of certain provisions of the rights is not complete. For the terms of the particular
rights being offered, you should refer to the prospectus supplement and the rights certificate and agreement for those rights.
General
The
prospectus supplement relating to rights being offered will describe the terms of the rights, including the following:
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in
the case of a distribution of rights to our stockholders, the date of determining the stockholders entitled to the rights
distribution;
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in
the case of a distribution of rights to our stockholders, the number of rights issued or to be issued to each stockholder;
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the
exercise price payable for each share of debt securities, common stock or other securities upon the exercise of the rights;
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the
number and terms of the shares of debt securities, common stock or other securities which may be purchased pursuant to each
right;
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the
extent to which the rights are transferable;
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the
date on which the holder’s ability to exercise the rights shall commence, and the date on which the rights shall expire;
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the
extent to which the rights may include an over-subscription privilege with respect to unsubscribed securities;
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if
applicable, the material terms of any standby underwriting or purchase arrangement entered into by us in connection with the
offering of such rights; and
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any
other terms of the rights, including, among other things, the terms, procedures, conditions and limitations relating to the
exchange and exercise of the rights.
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The
provisions described in this section, as well as those described under “Description of Capital Stock” and “Description
of Debt Securities,” will apply, as applicable, to any rights we may offer.
DESCRIPTION
OF UNITS
We
may issue units composed of any combination of our common stock, warrants and debt securities. We will issue each unit so that
the holder of the unit is also the holder of each security included in the unit. As a result, the holder of a unit will have the
rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that
the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date.
The
following description is a summary of selected provisions relating to units to which any prospectus supplement may relate, all
as shall be set forth in a prospectus supplement relating to the particular units being offered pursuant to this prospectus and
such prospectus supplement. This summary of certain provisions of the units is not complete. For the terms of the particular units
being offered, you should refer to the prospectus supplement and the units certificate and agreement for those units.
General
The
prospectus supplement relating to units being offered will describe the terms of the rights, including the following:
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the
designation and terms of the units and of the securities comprising the units, including whether and under what circumstances
those securities may be held or transferred separately;
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any
provisions for the issuance, payment, settlement, transfer, or exchange of the units or of the securities composing the units;
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whether
the units will be issued in fully registered or global form; and
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any
other terms of the units.
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The
applicable provisions described in this section, as well as those described under “Description of Capital Stock,”
“Description of Warrants” and “Description of Debt Securities,” will apply to each unit and to each security
included in each unit, respectively.
PLAN
OF DISTRIBUTION
We
may sell the securities offered through this prospectus (i) to or through underwriters or dealers, (ii) directly to purchasers,
including our affiliates, (iii) through agents, (iv) through a rights offering, or (v) through a combination of any these methods.
The distribution of securities may be effected, from time to time, in one or more transactions, including:
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block
transactions (which may involve crosses) and transactions on the NASDAQ Capital Market or any other organized market where
the securities may be traded;
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purchases
by a broker-dealer as principal and resale by the broker-dealer for its own account pursuant to a prospectus supplement;
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ordinary
brokerage transactions and transactions in which a broker-dealer solicits purchasers;
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sales
“at the market” to or through a market maker or into an existing trading market, on an exchange or otherwise;
and
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sales
in other ways not involving market makers or established trading markets, including direct sales to purchasers.
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The
securities may be distributed at a fixed price or prices, which may be changed, market prices prevailing at the time of sale,
prices related to the prevailing market prices, or negotiated prices. The consideration may be cash or another form negotiated
by the parties. Non-cash consideration may consist of services or products, whether tangible or intangible, and including services
or products we may use in our business; outstanding debt or equity securities of our company or one or more of its subsidiaries;
debt or equity securities or assets of other companies, including in connection with investments, joint ventures or other strategic
transactions, or acquisitions; release of claims or settlement of disputes; and satisfaction of obligations, including obligations
to make payment of interest on outstanding obligations. We may sell the securities as part of a transaction in which outstanding
debt or equity securities of our company are surrendered, converted, exercised, canceled or transferred.
We
will describe the terms of any offering of the securities registered hereunder in a prospectus supplement, information incorporated
by reference or free writing prospectus, which will include the following information:
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the
terms of the offering;
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the
names of any underwriters or agents;
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the
name or names of any managing underwriter or underwriters;
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the
purchase price of the securities;
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the
net proceeds from the sale of the securities;
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any
delayed delivery arrangements;
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any
underwriting discounts, commissions and other items constituting underwriters’ compensation;
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any
initial public offering price;
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any
discounts or concessions allowed or reallowed or paid to dealers; and
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any
commissions paid to agents.
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Sale
through Underwriters or Dealers
Only
underwriters we name in a prospectus supplement, information incorporated by reference or free writing prospectus are underwriters
of the securities offered thereby. If underwriters are used in the sale, the underwriters will acquire the securities for their
own account, including through underwriting, purchase, security lending or repurchase agreements with us. The underwriters may
resell the securities from time to time in one or more transactions, including negotiated transactions. Underwriters may sell
the securities in order to facilitate transactions in any of our other securities (described in this prospectus or otherwise),
including other public or private transactions and short sales. Underwriters may offer securities to the public either through
underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters.
Unless otherwise indicated in the prospectus supplement, the obligations of the underwriters to purchase the securities will be
subject to certain conditions, and the underwriters will be obligated to purchase all the offered securities if they purchase
any of them. The underwriters may change from time to time any initial public offering price and any discounts or concessions
allowed or reallowed or paid to dealers.
If
dealers are used in the sale of securities offered through this prospectus, we will sell the securities to them as principals.
They may then resell those securities to the public at varying prices determined by the dealers at the time of resale. The prospectus
supplement will include the names of the dealers and the terms of the transaction.
Direct
Sales and Sales through Agents
We
may sell the securities offered through this prospectus directly. In this case, no underwriters or agents would be involved. Such
securities may also be sold through agents designated from time to time. The prospectus supplement will name any agent involved
in the offer or sale of the offered securities and will describe any commissions payable to the agent. Unless otherwise indicated
in the prospectus supplement, any agent will agree to use its reasonable best efforts to solicit purchases for the period of its
appointment.
We
may also make direct sales through subscription rights distributed to our existing stockholders on a pro rata basis, which may
or may not be transferable. In any distribution of subscription rights to our stockholders, if all of the underlying securities
are not subscribed for, we may then sell the unsubscribed securities directly to third parties or may engage the services of one
or more underwriters, dealers or agents, including standby underwriters, to sell the unsubscribed securities to third parties.
We
may sell the securities directly to institutional investors or others who may be deemed to be underwriters within the meaning
of the Securities Act with respect to any sale of those securities. The terms of any such sales will be described in the prospectus
supplement.
Underwriter,
Dealer or Agent Discounts and Commissions
Underwriters,
dealers or agents may receive compensation in the form of discounts, concessions or commissions from us or our purchasers as their
agents in connection with the sale of securities. These underwriters, dealers or agents may be considered to be underwriters under
the Securities Act. As a result, discounts, commissions, or profits on resale received by the underwriters, dealers or agents
may be treated as underwriting discounts and commissions. Each prospectus supplement will identify any such underwriter, dealer
or agent, and describe any compensation received by them from us. Any initial public offering price and any discounts or concessions
allowed or reallowed or paid to dealers may be changed from time to time. The maximum commission or discount to be received by
any underwriter, dealer or agent will not be greater than eight percent (8%) of the maximum gross proceeds of the securities that
may be sold under this prospectus and any applicable prospectus supplement, as the case may be.
Delayed
Delivery Contracts
If
the prospectus supplement indicates, we may authorize agents, underwriters or dealers to solicit offers from certain types of
institutions to purchase securities at the public offering price under delayed delivery contracts. These contracts would provide
for payment and delivery on a specified date in the future. The contracts would be subject only to those conditions described
in the prospectus supplement. The applicable prospectus supplement will describe the commission payable for solicitation of those
contracts.
Market-Making,
Stabilization and Other Transactions
Unless
the applicable prospectus supplement states otherwise, each series of offered securities will be a new issue and will have no
established trading market. We may elect to list any series of offered securities on an exchange. Any underwriters that we use
in the sale of offered securities may make a market in such securities, but may discontinue such market making at any time without
notice. Therefore, the securities may not have a liquid trading market.
Any
person participating in a distribution of our securities will be subject to applicable provisions of the Exchange Act, and the
applicable SEC rules and regulations thereunder, including, among others, Regulation M, which may limit the timing of purchases
and sales of our securities by any such person. Furthermore, Regulation M may restrict the ability of any person engaged in a
distribution of our securities to engage in market-making activities with respect to our securities. These restrictions may affect
the marketability of our securities and the ability of any person or entity to engage in market-making activities with respect
to our securities.
Certain
persons participating in an offering may engage in over-allotment, stabilizing transactions, short-covering transactions and penalty
bids in accordance with Regulation M under the Exchange Act that stabilize, maintain or otherwise affect the price of the offered
securities. If any such activities will occur, they will be described in the applicable prospectus supplement.
Derivative
Transactions and Hedging
We,
the underwriters or other agents may engage in derivative transactions involving the securities. These derivatives may consist
of short sale transactions and other hedging activities. The underwriters or agents may acquire a long or short position in the
securities, hold or resell securities acquired and purchase options or futures on the securities and other derivative instruments
with returns linked to or related to changes in the price of the securities. In order to facilitate these derivative transactions,
we may enter into security lending or repurchase agreements with the underwriters or agents. The underwriters or agents may effect
the derivative transactions through sales of the securities to the public, including short sales, or by lending the securities
in order to facilitate short sale transactions by others. The underwriters or agents may also use the securities purchased or
borrowed from us or others (or, in the case of derivatives, securities received from us in settlement of those derivatives) to
directly or indirectly settle sales of the securities or close out any related open borrowings of the securities.
Electronic
Auctions
We
may also make sales through the Internet or through other electronic means. Since we may from time to time elect to offer securities
directly to the public, with or without the involvement of agents, underwriters or dealers, utilizing the Internet or other forms
of electronic bidding or ordering systems for the pricing and allocation of such securities, you should pay particular attention
to the description of that system we will provide in a prospectus supplement.
Such
electronic system may allow bidders to directly participate, through electronic access to an auction site, by submitting conditional
offers to buy that are subject to acceptance by us, and which may directly affect the price or other terms and conditions at which
such securities are sold. These bidding or ordering systems may present to each bidder, on a so-called “real-time”
basis, relevant information to assist in making a bid, such as the clearing spread at which the offering would be sold, based
on the bids submitted, and whether a bidder’s individual bids would be accepted, prorated or rejected. For example, in the
case of a debt security, the clearing spread could be indicated as a number of “basis points” above an index treasury
note. Of course, many pricing methods can and may also be used.
Upon
completion of such an electronic auction process, securities will be allocated based on prices bid, terms of bid or other factors.
The final offering price at which securities would be sold and the allocation of securities among bidders would be based in whole
or in part on the results of the Internet or other electronic bidding process or auction.
General
Information
Agents,
underwriters, and dealers may be entitled, under agreements entered into with us, to indemnification by us against certain liabilities,
including liabilities under the Securities Act.
Under
the securities laws of some states, the securities offered by this prospectus may be sold in those states only through registered
or licensed brokers or dealers.
LEGAL
MATTERS
Unless
otherwise indicated in the applicable prospectus supplement, the validity of the securities being offered pursuant to this prospectus
has been passed upon by McDonald Carano Wilson LLP, Reno, Nevada, and Morrison & Foerster LLP, San Diego, California.
Any underwriters will be advised about legal matters relating to any offering by their own legal counsel.
EXPERTS
The
consolidated financial statements of OncoSec Medical Incorporated appearing in its Annual Report on Form 10-K for the fiscal year
ended July 31, 2015, filed with the SEC on October 14, 2015, have been audited by Mayer Hoffman McCann P.C., an independent registered
public accounting firm, as stated in its report therein, and are incorporated by reference. Such audited consolidated financial
statements are incorporated hereby by reference in reliance upon such report of such firm given upon its authority as experts
in accounting and auditing.
INCORPORATION
OF CERTAIN INFORMATION BY REFERENCE
The
SEC allows us to “incorporate by reference” the information we file with it. This means that we can disclose important
information to you in this prospectus by referring you to another document. The information incorporated by reference is considered
to be a part of this prospectus, and information that we file later with the SEC will automatically update and supersede information
contained in this prospectus and any accompanying prospectus supplement. We incorporate by reference the documents listed below
that we have previously filed with the SEC (excluding any portions of any Current Report on Form 8-K that are not deemed “filed”
pursuant to the General Instructions of Form 8-K):
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|
●
|
our
Annual Report on Form 10-K for the fiscal year ended July 31, 2015 filed with the SEC on October 14, 2015;
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●
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our
Quarterly Reports on Form 10-Q for the quarters ended October 31, 2015, January 31, 2016 and April 30, 2016 and filed with
the SEC on December 8, 2015, March 8, 2016 and June 9, 2016, respectively;
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|
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●
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our
Current Reports on Form 8-K filed with the SEC on August 5, 2015, October 5, 2015, October 30, 2015, October 30, 2015, November
5, 2015, December 7, 2015, December 29, 2015, January 26, 2016, April 15, 2016, May 24, 2016 and July 1, 2016; and
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●
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the
description of our common stock contained in our Registration Statement on Form 8-A filed with the SEC on May 27, 2015, including
any amendments or reports filed for the purpose of updating such description.
|
We
also incorporate by reference into this prospectus additional documents that we may file with the SEC under Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act prior to the completion or termination of the offering, including all such documents we may file
with the SEC after the date of the initial registration statement and prior to the effectiveness of the registration statement,
but excluding any information deemed furnished and not filed with the SEC. Any statements contained in a previously filed document
incorporated by reference into this prospectus is deemed to be modified or superseded for purposes of this prospectus to the extent
that a statement contained in this prospectus, or in a subsequently filed document also incorporated by reference herein, modifies
or supersedes that statement.
We
will provide without charge to each person, including any beneficial owner, to whom a prospectus is delivered, on written or oral
request of that person, a copy of any or all of the documents we are incorporating by reference into this prospectus, other than
exhibits to those documents unless such exhibits are specifically incorporated by reference into those documents. Such written
requests should be addressed to:
OncoSec
Medical Incorporated
5820
Nancy Ridge Drive
San
Diego, California 92121
Attention:
Investor Relations
You
may also make such requests by contacting us at (855) 662-6732.
WHERE
YOU CAN FIND MORE INFORMATION
We
file annual, quarterly and current reports and proxy statements and other information with the SEC. You may read and copy any
document that we file at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. Please call the
SEC at 1-800-SEC-0330 for further information on the Public Reference Room. Our SEC filings are also available on the SEC’s
web site at http://www.sec.gov. Copies of certain information filed by us with the SEC are also available on our web site at http://www.oncosec.com.
We have not incorporated by reference into this prospectus the information on our website, and you should not consider it to be
a part of this document.
Part
II
References
in this Part II to “our company,” “we,” “our,” “us” and “OncoSec”
refer to OncoSec Medical Incorporated, a Nevada corporation.
Information
Not Required in the Prospectus
Item
14. Other Expenses of Issuance and Distribution
The
aggregate estimated (other than the registration fee) expenses payable by us in connection with a distribution of securities registered
hereby are as follows:
|
Securities
and Exchange Commission registration fee
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|
$
|
10,070
|
|
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Accounting
fees and expenses
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|
5,000
|
|
|
Legal
fees and expenses
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|
20,000
|
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Printing
expenses
|
|
5,000
|
|
|
Miscellaneous
|
|
5,000
|
|
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Total
|
|
$
|
45,070
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|
Item
15. Indemnification of Directors and Officers
Nevada
Revised Statutes provide us with the power to indemnify any of our directors and officers. The director or officer must have conducted
himself/herself in good faith and reasonably believe that his/her conduct was in, or not opposed to, our best interests. In a
criminal action, the director or officer must not have had reasonable cause to believe his/her conduct was unlawful.
Under
applicable sections of the Nevada Revised Statutes, advances for expenses may be made by agreement if the director or officer
affirms in writing that he/she believes he/she has met the standards and will personally repay the expenses if it is determined
the officer or director did not meet the standards.
Our
bylaws include an indemnification provision under which we must indemnify any of our directors or officers, or any of our former
directors or officers, to the full extent permitted by law. We have also entered into indemnification agreements with each of
our directors and officers under which we must indemnify them to the full extent permitted by law. If Section 2115 of the California
Corporations Code is applicable to us, certain laws of California relating to the indemnification of directors, officer and others
also will govern.
At
present, there is no pending litigation or proceeding involving any of our directors or officers for which indemnification is
sought, nor are we aware of any threatened litigation that is likely to result in claims for indemnification. We also maintain
insurance policies that indemnify our directors and officers against various liabilities, including liabilities arising under
the Securities Act of 1933, as amended (the “Securities Act”), which may be incurred by any director or officer in
his or her capacity as such.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted for our directors, officers and controlling
persons pursuant to the foregoing provisions, or otherwise, 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 a claim for indemnification against such liabilities (other than payment by us for expenses incurred or paid by a
director, officer or controlling person of ours in successful defense of any action, suit, or proceeding) is asserted by a director,
officer or controlling person in connection with the securities being registered, we will, unless in the opinion of our counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction, the question of whether such
indemnification by it is against public policy in the Securities Act and will be governed by the final adjudication of such issue.
Item
16. Exhibits
The
exhibits listed on the Exhibit Index immediately following the signature page hereto are filed herewith or incorporated by reference
herein, and such exhibit list is incorporated in this Item 16 by reference.
Item
17. Undertakings
(a)
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;
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(ii)
|
To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low
or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum
aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration
statement; and
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(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) and (a)(1)(ii) of this section do not apply if the registration statement is on Form
S-3 or Form F-3 and the information required to be included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the SEC 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)
|
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)
|
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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(4)
|
That,
for the purpose of determining liability under the Securities Act of 1933 to any purchaser:
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(i)
|
If
the registrant is relying on Rule 430B,
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|
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(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
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(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 prospectus. As provided in Rule 430B, for liability purposes of the
issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration
statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such
securities at that time shall be deemed to be the initial
bona fide
offering thereof.
Provided
,
however
,
that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration
statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement
that was made in the registration statement or prospectus that was part of the registration statement or made in any such
document immediately prior to the effective date; or
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|
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(ii)
|
If
the registrant is subject to Rule 430C, 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 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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(5)
|
That,
for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial
distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned
registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the
purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned
registrant will be a seller to the purchaser and will be considered to offer and sell such securities to such purchaser:
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(i)
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Any
preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant
to Rule 424;
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(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;
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(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
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(iv)
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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.
|
|
|
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|
(c)
|
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.
|
|
|
|
|
(d)
|
The
undersigned registrant hereby undertakes that:
|
|
|
(1)
|
For
purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus
filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the
registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration
statement as of the time it was declared effective.
|
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(2)
|
For
the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form
of prospectus 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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(e)
|
The
undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee
to act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed
by the SEC under Section 305(b)(2) of the Trust Indenture Act.
|
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-3 and has duly caused this registration statement on Form S-3 to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of San Diego, State of California, on the 23
rd
day of August, 2016.
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ONCOSEC
MEDICAL INCORPORATED
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By:
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/s/
Punit Dhillon
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|
Punit
Dhillon, President and Chief Executive Officer
|
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:
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
|
|
/s/
Punit Dhillon
|
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President,
Chief Executive Officer and Director
|
|
August
23 , 2016
|
|
Punit
Dhillon
|
|
(Principal
Executive Officer)
|
|
|
|
|
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|
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|
|
/s/
Richard B. Slansky
|
|
Chief
Financial Officer
|
|
August
23 , 2016
|
|
Richard
B. Slansky
|
|
(Principal
Financial and Accounting Officer)
|
|
|
|
|
|
|
|
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|
*
|
|
Director
|
|
August
23 , 2016
|
|
Dr.
James DeMesa
|
|
|
|
|
|
|
|
|
|
|
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*
|
|
Director
|
|
August
23 , 2016
|
|
Dr.
Avtar Dhillon
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
|
August
23 , 2016
|
|
Dr.
Anthony Maida, III
|
|
|
|
|
|
*
By:
|
/s/
Punit Dhillon
|
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|
|
Punit Dhillon
|
|
|
|
Attorney-in-Fact
|
|
Exhibit
Index
Exhibit
Number
|
|
Exhibit
Title
|
|
|
|
|
|
1.1
|
|
Form
of Underwriting Agreement*
|
|
|
|
|
|
3.1
|
|
Articles
of Incorporation of Netventory Solutions, Inc. (incorporated by reference to our Registration Statement on Form S-1, filed
on September 3, 2008)
|
|
|
|
|
|
3.2
|
|
Amended
and Restated Bylaws (incorporated by reference to our Current Report on Form 8-K, filed on March 6, 2012)
|
|
|
|
|
|
3.3
|
|
Articles
of Merger dated February 9, 2011 (incorporated by reference to our Current Report on Form 8-K, filed on March 3, 2011)
|
|
|
|
|
|
3.4
|
|
Certificate
of Change dated February 9, 2011 (incorporated by reference to our Current Report on Form 8-K, filed on March 3, 2011)
|
|
|
|
|
|
3.5
|
|
Certificate
of Correction dated March 9, 2011 (incorporated by reference to our Current Report on Form 8-K, filed on March 14, 2011)
|
|
|
|
|
|
3.6
|
|
Certificate
of Change dated May 12, 2015 (incorporated by reference to our Current Report on Form 8-K, filed on May 15, 2015)
|
|
|
|
|
|
4.1
|
|
Form
of Senior Indenture §
|
|
|
|
|
|
4.2
|
|
Form
of Subordinated Indenture §
|
|
|
|
|
|
4.3
|
|
Form
of Senior Debt Security (included in Exhibit 4.1)
§
|
|
|
|
|
|
4.4
|
|
Form
of Subordinated Debt Security (included in Exhibit 4.2)
§
|
|
|
|
|
|
4.5
|
|
Form
of Warrant Agreement*
|
|
|
|
|
|
4.6
|
|
Form
of Warrant Certificate*
|
|
|
|
|
|
4.7
|
|
Form
of Unit Agreement*
|
|
|
|
|
|
4.8
|
|
Form
of Unit Certificate*
|
|
|
|
|
|
4.9
|
|
Form
of Rights Agreement*
|
|
|
|
|
|
4.10
|
|
Form
of Rights Certificate*
|
|
|
|
|
|
4.11
|
|
Form
of Subscription Agreement*
|
|
|
|
|
|
5.1
|
|
Opinion
of McDonald Carano Wilson LLP §
|
|
|
|
|
|
5.2
|
|
Opinion
of Morrison & Foerster LLP §
|
|
|
|
|
|
12.1
|
|
Computation
of Ratio of Earnings to Fixed Charges §
|
|
|
|
|
|
23.1
|
|
Consent
of Independent Registered Public Accounting Firm §
|
|
|
|
|
|
23.2
|
|
Consent
of McDonald Carano Wilson LLP (included in Exhibit 5.1)
§
|
|
|
|
|
|
23.3
|
|
Consent
of Morrison & Foerster LLP (included in Exhibit 5.2)
§
|
|
|
|
|
|
24.1
|
|
Power
of Attorney §
|
|
|
|
|
|
25.1
|
|
Form
T-1 Statement of Eligibility of Trustee for Senior Indenture under the Trust Indenture Act of 1939**
|
|
|
|
|
|
25.2
|
|
Form
T-1 Statement of Eligibility of Trustee for Subordinated Indenture under the Trust Indenture Act of 1939**
|
†Filed
herewith.
§Previously
filed.
*To
be filed by amendment or as an exhibit to a report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
as amended, and incorporated herein by reference.
**To
be filed in accordance with the requirements of Section 305(b)(2) of the Trust Indenture Act of 1939.
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