Report of Foreign Issuer (6-k)
December 01 2016 - 4:03PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of December 2016
Commission File Number: 001-36581
Vascular
Biogenics Ltd.
(Translation of registrants name into English)
6 Jonathan Netanyahu St.
Or Yehuda
Israel 60376
(Address of principal executive offices)
Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Entry into a Material Definitive Agreement.
At the Market Offering of Ordinary Shares
On
December 1, 2016, Vascular Biogenics Ltd. (the Company), entered into separate Equity Distribution Agreements (the Agreements) with each of JMP Securities LLC and Chardan Capital Markets, LLC (each referred to as an
Agent and collectively as the Agents) to implement an at the market offering program under which the Company, from time to time, may offer and sell its ordinary shares, NIS 0.01 par value, having an aggregate
offering price of up to $20,000,000 (the Shares) through the Agents.
Subject to the terms and conditions of the Agreement, each Agent will
use its commercially reasonable efforts to sell the Shares from time to time, based upon the Companys instructions. The Company has no obligation to sell any of the Shares, and may at any time suspend sales under the Agreements or terminate
the Agreements in accordance with their terms. The Company has provided the Agents with customary indemnification rights, and the Agents will be entitled to a fixed commission of 3.0% of the aggregate gross proceeds from the Shares sold. The
Agreements contain customary representations and warranties, and the Company is required to deliver customary closing documents and certificates in connection with sales of the Shares. The Company may instruct only one Agent to offer and sell
Shares under the applicable Agreement on any single given day.
Sales of the Shares under the Agreements will be made in transactions that are deemed to
be an at the market offering as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on the NASDAQ Global Market at market prices, in negotiated transactions at market prices prevailing at
the time of sale, or at prices relating to such prevailing market prices, and/or any other method permitted by law.
The description of the Agreements set
forth herein does not purport to be complete and is qualified in its entirety by reference to the full text thereof, which are attached hereto as Exhibits 10.1 and 10.2 and incorporated by reference herein.
A Registration Statement for the Shares has been filed with the Securities and Exchange Commission (the SEC) and was declared effective by the SEC
on October 19, 2015. This Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.
The information contained
in this Form 6-K (including the exhibits hereto) is hereby incorporated by reference into the Companys Registration Statement on Form F-3, File No. 333-207250.
Forward-Looking Statements
Statements in this report
that are not strictly historical in nature constitute forward-looking statements. Such statements include, but are not limited to, the Companys issuance of securities and the amount of proceeds from the offering. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from any results expressed or implied by such forward-looking statements. Risk factors that may
cause actual results to differ are discussed in the Companys SEC filings, including its annual report on Form 20-F for the year ended December 31, 2015. All forward-looking statements are qualified in their entirety by this cautionary
statement. The Company is providing this information as of the date of this report and does not undertake any obligation to update any forward-looking statements contained in this report as a result of new information, future events or otherwise.
Exhibits.
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Exhibit Number
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Description
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5.1
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Opinion of Horn & Co., Law Offices
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10.1
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Equity Distribution Agreement, dated December 1, 2016, by and between Vascular Biogenics Ltd. and JMP Securities LLC
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10.2
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Equity Distribution Agreement, dated December 1, 2016, by and between Vascular Biogenics Ltd. and Chardan Capital Markets, LLC
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23.1
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Consent of Horn & Co., Law Offices (included in Exhibit 5.1)
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SIGNATURE
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,
thereunto duly authorized.
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VASCULAR BIOGENICS LTD.
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Date: December 1, 2016
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By:
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/s/ Dror Harats
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Name: Dror Harats
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Title: Chief Executive Officer
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