Current Report Filing (8-k)
October 04 2016 - 8:43AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT
TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report: September 30, 2016
DELCATH
SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-16133
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06-1245881
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification Number)
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1633 Broadway, Suite 22C, New York, New York 10019
(Address of principal executive offices, including zip code)
(212) 489-2100
(Registrants telephone number, including area code)
NONE
(Former name or
former address, if changed since last report)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01.
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Entry into a Material Definitive Agreement.
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On September 30, 2016, Delcath
Systems, Inc. (the Company) entered into an underwriting agreement (the Underwriting Agreement) with Roth Capital Partners, LLC, as Underwriter (the Underwriter). The Underwriting Agreement provides for the sale
to the Underwriter of 425,000 shares of the Companys common stock, par value $0.01 per share (the Common Stock), and warrants to purchase 148,750 shares of the Companys common stock (such warrants, the Warrants;
such sale, the Offering). Each share of common stock is being sold together with 0.35 of a warrant to purchase a share of common stock. The Common Stock and Warrants were offered and sold under a prospectus supplement filed with the
Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act of 1933, as amended, (the Securities Act) in connection with an offering pursuant to the Companys shelf registration statement on Form S-3 (File
No. 333-207331). The Offering is expected to close on October 5, 2016.
The Warrants are exercisable beginning on the date of
issuance and will expire on October 5, 2021. The exercise price of the Warrants is $3.00 per share of Common Stock, subject to certain adjustments. The Company does not plan on applying to list the Warrants on the NASDAQ Capital Market, any
other national securities exchange or any other nationally recognized trading system. This description of the Offering is a summary only, is not intended to be complete, and is qualified in its entirety by reference to the Underwriting Agreement and
the Form of Warrant, which are filed as exhibits 1.1 and 4.1, respectively, to this Current Report on Form 8-K.
The net proceeds to the
Company from the offering are approximately $1.1 million after underwriting discounts and commissions and other estimated offering expenses payable by the Company, and excluding any proceeds the Company may receive upon exercise of the warrants to
be issued in the Offering.
Morgan, Lewis & Bockius LLP, counsel to the Company, has issued an opinion to the Company, dated
October 4, 2016, regarding the securities to be sold in the Offering. A copy of the opinion is filed as Exhibit 5.1 to this Current Report on Form 8-K.
Item 7.01.
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Regulation FD Disclosure.
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On September 30, 2016, the Company issued a press
release announcing the pricing of the Offering. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 7.01 by reference. This information is not deemed to be
filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any Securities Act registration statements.
Item 9.01.
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Financial Statements and Exhibits.
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The following exhibit is filed herewith:
(d) Exhibits.
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Exhibit
No.
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Description
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1.1
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Underwriting Agreement, dated September 30, 2016, between the Company and Roth Capital Partners, LLC, as Underwriter
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4.1
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Form of Warrant Agreement
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5.1
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Opinion of Morgan, Lewis & Bockius LLP
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23.1
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Consent of Morgan, Lewis & Bockius LLP (included in Exhibit 5.1)
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99.1
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Press Release of the Company, dated September 30, 2016
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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DELCATH SYSTEMS, INC.
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Dated: October 4, 2016
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By:
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/s/ Jennifer K. Simpson, Ph.D.
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Name:
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Jennifer K. Simpson, Ph.D.
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Title:
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President and Chief Executive Officer
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