Securities Registration: Employee Benefit Plan (s-8)
July 19 2019 - 4:33PM
Edgar (US Regulatory)
As
filed with the Securities and Exchange Commission on July 19, 2019
Registration
No. 333-______
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-8
REGISTRATION
STATEMENT
UNDER THE SECURITIES ACT OF 1933
Auris
Medical Holding Ltd.
(Exact
Name of Registrant as Specified in Its Charter)
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Bermuda
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Not
Applicable
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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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Clarendon
House
2 Church Street
Hamilton HM 11 Bermuda
(Address, Including Zip Code of Principal Executive Offices)
Auris Medical Holding Ltd. Equity Incentive Plan, as amended
(Full title of Plan)
Cogency
Global, Inc.
10 East 40
th
Street, 10th Floor
New York, New York 10016
(212) 947-7200
(Name, address and telephone number, including area code, of agent for service)
Copies
to:
Michael
J. Lerner, Esq.
Steven M. Skolnick, Esq.
Lowenstein Sandler LLP
1251 Avenue of the Americas
New York, NY 10020
Tel:
(212) 262-6700
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”
“smaller reporting company,” and “emerging growth 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 ☒
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Smaller
reporting company ☐
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Emerging
growth company ☒
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If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
☐
CALCULATION
OF REGISTRATION FEE
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Title Of Securities To Be Registered
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Amount
To Be
Registered(1)
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Proposed Maximum Offering Price Per Share
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Proposed Maximum Aggregate Offering Price
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Amount Of
Registration Fee
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Common Shares, par value CHF 0.40 per share, reserved for issuance pursuant to stock option awards outstanding under the EIP (as defined below)
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176,362
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$
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10.31
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(2)
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$
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1,818,292
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(2)
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$
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220.38
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(2)
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Common Shares, par value CHF 0.40 per share, reserved for issuance pursuant to the EIP
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123,638
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$
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2.65
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(3)
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$
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327,640.70
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(3)
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$
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39.72
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(3)
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Total Common Shares
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300,000
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N/A
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$
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2,145,932.70
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$
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260.10
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(4)
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(1)
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This Registration Statement on Form S-8 (this “Registration Statement”) covers (i) common shares, par value CHF 0.40 per share (“Common Shares”), of Auris Medical Holding Ltd. (the “Registrant”) issuable pursuant to the Auris Medical Holding Ltd. Equity Incentive Plan, as amended (the “EIP”) and (ii) pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), any additional Common Shares that become issuable under the EIP by reason of any share dividend, share split or other similar transaction.
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(2)
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Estimated pursuant to Rule 457(h) and Rule 457(c) under the Securities Act, solely for the purpose of computing the registration fee, based on the weighted average exercise price of the stock options outstanding under the EIP.
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(3)
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Estimated pursuant to Rule 457(h) and Rule 457(c) under the Securities Act, solely for the purpose of computing the registration fee for Common Shares to be issued pursuant to the EIP, based on the average of the high and low prices reported for a Common Share on the NASDAQ Capital Market on July 17, 2019.
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(4)
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Pursuant to Rule 457(p) under the Securities Act, a portion of the registration fee that would otherwise be payable under Rule 457 is hereby offset against the Registrant’s registration fee of $585.77 paid to the SEC in connection with the Registrant’s filing of a registration statement on
Form S-8
on March 22, 2018 (File No. 333-223855), which registration statement was subsequently withdrawn by the Registrant.
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EXPLANATORY
NOTE
On
March 18, 2019, the Registrant changed its jurisdiction of incorporation from Switzerland to Bermuda. The Registrant discontinued
as a Swiss company and, pursuant to Article 163 of the Swiss Federal Act on Private International Law and pursuant to Section
132C of the Companies Act 1981 of Bermuda (the “Companies Act”), continued its existence under the Companies Act as
an exempted company incorporated in Bermuda (the “Redomestication”). The Registrant changed its name from “Auris
Medical Holding AG” to “Auris Medical Holding Ltd.” in connection with the Redomestication. The Common Shares
continued to trade on the Nasdaq Capital Market after the Redomestication under the symbol “EARS.”
In
addition, on April 30, 2019, the Registrant announced a reverse share split (the “2019 Reverse Share Split”) of
its Common Shares at a ratio of one-for-twenty. The 2019 Reverse Share Split took effect at 12:01 a.m. (Eastern Time) on May
1, 2019, and the Common Shares began to trade on a post-reverse share split basis at the market open on May 1, 2019. When the
reverse share split became effective, every 20 of the pre-reverse share split issued and outstanding Common Shares, par value
CHF 0.02 per share, were consolidated into one Common Share, par value CHF 0.40 per share. Effecting the 2019 Reverse Share
Split reduced the number of the Registrant’s issued and outstanding Common Shares from 38,095,859 Common Shares to
1,904,789 Common Shares. It also simultaneously adjusted outstanding options issued under the EIP and outstanding warrants to
purchase Common Shares. All per share amounts and numbers of Common Shares in this Registration Statement reflect the 2019
Reverse Share Split.
PART
I
INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS
The
documents containing the information specified in Item 1 and Item 2 of Part I of Form S-8 will be delivered to participants
as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the “Securities Act”). In accordance
with the rules and regulations of the Securities and Exchange Commission (the “Commission”) and the instructions
to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement or as
prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item
3. Incorporation of Documents by Reference.
The
following documents are incorporated herein by reference:
(a)
The Registrant’s Annual Report on
Form 20-F
for the fiscal year ended December 31, 2018, filed with the Commission on March
14, 2019;
(b)
The reports on Form 6-K furnished on
March 18, 2019
,
April 5, 2019
,
April 30, 2019
,
May 8, 2019
and
May 16, 2019
;
(c)
All reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
since December 31, 2018; and
(d)
The description of the Registrant’s Common Shares which is contained in the Registrant’s report on
Form 6-K
furnished
on March 18, 2019, including any subsequent amendment or reports filed for the purpose of updating such description.
In
addition, all documents subsequently filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all
securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in this Registration Statement and to be a part hereof from the date of the filing of such documents.
Any
statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein (or in any other subsequently
filed document which also is incorporated or deemed to be incorporated by reference herein) modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.
Item
4. Description of Securities.
Not
applicable.
Item
5. Interests of Named Experts and Counsel.
Not
applicable.
Item
6. Indemnification of Directors and Officers.
Section
98 of the Companies Act provides generally that a Bermuda company may indemnify its directors, officers and auditors against any
liability which by virtue of any rule of law would otherwise be imposed on them in respect of any negligence, default, breach
of duty or breach of trust, except in cases where such liability arises from fraud or dishonesty of which such director, officer
or auditor may be guilty in relation to the company. Section 98 further provides that a Bermuda company may indemnify its directors,
officers and auditors against any liability incurred by them in defending any proceedings, whether civil or criminal, in which
judgment is awarded in their favour or in which they are acquitted or granted relief by the Supreme Court of Bermuda pursuant
to section 281 of the Companies Act.
The
Registrant has adopted provisions in its bye-laws that provide that it shall indemnify its officers and directors in respect of
their actions and omissions, except in respect of their fraud or dishonesty. Such bye-laws provide that the shareholders waive
all claims or rights of action that they might have, individually or in right of the company, against any of the company’s
directors or officers for any act or failure to act in the performance of such director’s or officer’s duties, except
in respect of any fraud or dishonesty of such director or officer. Section 98A of the Companies Act permits the Registrant to
purchase and maintain insurance for the benefit of any officer or director in respect of any loss or liability attaching to him
in respect of any negligence, default, breach of duty or breach of trust, whether or not the Registrant may otherwise indemnify
such officer or director.
The
Registrant has entered into indemnification agreements with each of the members of its board of directors and executive officers.
Insofar
as indemnification for liabilities arising under the Securities Act, may be permitted to directors, officers
and controlling persons of the Registrant, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act, and is, therefore,
unenforceable.
Item
7. Exemption from Registration Claimed
Not
Applicable.
Item
8. Exhibits.
For
a list of exhibits, see the Exhibit Index in this Registration Statement, which is incorporated into this Item by reference.
Item
9. Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum
aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement;
(iii)
To include any material information with respect to the EIP not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant
to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)
That, for the purpose of determining any liability under the Securities Act, 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.
(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.
(4)
To file a post-effective amendment to this Registration Statement to include any financial statements required by Item 8.A.
of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information
otherwise required by Section 10(a)(3) of the Securities Act need not be furnished, provided that the registrant includes in
the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and
other information necessary to ensure that all other information in the prospectus is at least as current as the date of
those financial statements. Notwithstanding the foregoing, with respect to registration statements on Form F-3,
a post-effective amendment need not be filed to include financial statements and information required by Section 10(a)(3)
of the Securities Act if such financial statements and information are contained in periodic
reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Form F-3.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
of the Registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion
of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.
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 this Registration Statement and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in Hamilton, Bermuda on July 19, 2019.
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Auris
Medical Holding Ltd.
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By:
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/s/
Thomas Meyer
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Name:
Thomas Meyer
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Title:
Chief Executive Officer
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KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Thomas Meyer, Hernan
Levett and Raoul Dias and each of them, individually, as his or her true and lawful attorneys-in-fact and agents, with full power
of substitution and resubstitution, for him or her and in his or her name, place and stead in any and all capacities, in connection
with this Registration Statement, including to sign in the name and on behalf of the undersigned, this Registration Statement
and any and all amendments thereto, including post-effective amendments and registrations filed pursuant to Rule 462 under the
U.S. Securities Act of 1933, and to file the same, with all exhibits thereto, and other documents in connection therewith, with
the U.S. Securities and Exchange Commission, granting unto such attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents
or either of them or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons
in the capacities and on the dates indicated:
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Name
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Title
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Date
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/s/
Thomas Meyer
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Chief
Executive Officer and Director
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July
19, 2019
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Thomas
Meyer
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(principal
executive officer)
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/s/
Hernan Levett
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Chief
Financial Officer
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July
19, 2019
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Hernan
Levett
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(principal
financial officer and principal accounting officer)
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/s/
Armando Anido
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Director
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July
19, 2019
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Armando
Anido
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/s/
Mats Blom
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Director
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July
19, 2019
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Mats
Blom
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/s/
Alain Munoz
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Director
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July
19, 2019
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Alain
Munoz
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/s/
Calvin W. Roberts
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Director
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July
19, 2019
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Calvin
W. Roberts
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/s/
Richard Arthur
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Assistant
Secretary on behalf of Cogency Global Inc.,
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July
19, 2019
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Richard
Arthur
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Authorized Representative
in the United States
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EXHIBIT
INDEX
5
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