Securities Registration: Employee Benefit Plan (s-8)
August 07 2019 - 5:16PM
Edgar (US Regulatory)
As filed with the Securities and Exchange Commission on August 7, 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
Portola Pharmaceuticals, Inc.
(Exact name of Registrant as specified in its charter)
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Delaware
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20-0216859
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(State or other jurisdiction of
Incorporation or organization)
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(I.R.S. Employer
Identification No.)
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270 E. Grand Avenue
South San Francisco, California 94080
(650)
246-7300
(Address of principal executive offices) (Zip code)
Portola Pharmaceuticals, Inc. 2013 Equity Incentive Plan
Portola Pharmaceuticals, Inc. Inducement Plan
(Full title of the plan)
John Moriarty
Executive Vice President and General Counsel
Portola Pharmaceuticals, Inc.
270 E. Grand Avenue
South San Francisco, California 94080
(650)
246-7300
(Name and address of agent for service) (Telephone number, including area code, of agent for service)
Copies to:
Kenneth L. Guernsey
Sally A. Kay
Cooley LLP
101 California Street, 5
th
Floor
San Francisco, CA 94111
(415)
693-2000
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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☒
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Accelerated filer
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☐
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Non-accelerated
filer
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☐
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Smaller reporting company
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☐
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Emerging growth company
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☐
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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 Stock, par value $0.001 per share
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3,330,886 (2)(3)
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$24.85 (5)
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$82,772,518 (5)
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$10,033
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Common Stock, par value $0.001 per share
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1,000,000 (4)
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$24.85 (5)
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$24,850,000 (5)
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$3,012
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(1)
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Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the Securities Act), this
Registration Statement shall also cover any additional shares of common stock of Portola Pharmaceuticals, Inc. (the Registrant) that become issuable under the 2013 Equity Incentive Plan (the 2013 Plan) and the Inducement Plan
(the Inducement Plan) set forth herein by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected that results in an increase to the number of outstanding shares of the Registrants common
stock.
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(2)
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Represents additional shares of the Registrants common stock reserved for future issuance under the 2013
Plan by reason of the automatic increase provision of the 2013 Plan.
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(3)
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The number of shares reserved for issuance under the 2013 Plan will automatically increase on January 1st each
year, starting on January 1, 2014 and continuing through January 1, 2023, by the lesser of (a) five percent (5%) of the total number of shares of the Registrants common stock outstanding on December 31st of the immediately
preceding calendar year and (b) a number determined by the Registrants board of directors.
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(4)
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Represents additional shares of the Registrants common stock reserved for future issuance under the
Portola Pharmaceuticals, Inc. Inducement Plan.
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(5)
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Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) and
Rule 457(c) under the Act. The offering price per share and aggregate offering price are based on the average of the high and low prices of the Registrants Common Stock as reported on the Nasdaq Global Select Market on August 2, 2019.
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EXPLANATORY NOTE
Portola Pharmaceuticals, Inc. (the Registrant) is filing this Registration Statement on
Form S-8
for the purpose of registering (i) an additional 3,330,886 shares of its common stock, par value $0.001 per share (the Common Stock), issuable to eligible persons under the 2013
Equity Incentive Plan, which Common Stock is in addition to the shares of Common Stock registered on the Registrants
Form
S-8
filed on
May
31, 2013
(File
No. 333-188996),
Form
S-8
filed on
May
12, 2014
(File
No. 333-195897),
Form
S-8
filed on
March
2, 2015
(File
No. 333-202439),
Form
S-8
filed on
February
29, 2016
(File
No. 333-209810),
Form
S-8
filed on
March
21, 2017
(File
No. 333-216861)
and Form
S-8
filed on
June
8, 2018
(File
No. 333-225540),
and
(ii) an additional 1,000,000 shares of its common stock, par value $0.001 per share (the Common Stock), issuable to eligible persons under the Registrants Inducement Plan, which Common Stock is in addition to the shares of
Common Stock registered on the Registrants Form
S-8
filed on
November
9, 2017
(File
No. 333-221482)
(all such Forms
S-8,
collectively, the Prior Form
S-8s).
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The Prior Form
S-8s
are incorporated by reference into this Registration Statement. In addition, the
following documents filed by the Registrant with the SEC are incorporated by reference into this Registration Statement:
1. The
Registrants latest Annual Report on
Form
10-K
filed with the SEC on March 1, 2019.
2. The Companys Quarterly Report on
Form
10-Q
for the fiscal quarter ended March 31, 2019, filed on May 8, 2019.
3. The
Companys Quarterly Report on
Form
10-Q
for the quarter ended June 30, 2019, filed on
August 7, 2019.
4. The Companys Current Reports on Form
8-K
filed with the SEC on
March
20, 2019
,
April
25, 2019
, and
June
14, 2019
.
5. All other reports filed pursuant to Section 13(a) or 15 (d) of the Securities Exchange Act of 1934, as amended, since the end of the
fiscal year covered by the Registrants Annual Report referred to in (a) above.
6. The description of the Registrants
Common Stock contained in the Registrants registration statement on
Form
8-A
filed with the Commission on
May 17, 2013, including any amendments or reports filed for the purpose of updating such description.
All other reports and
documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form
8-K
and
exhibits furnished on such form that relate to such items) on or after the date of this Registration Statement and 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 herein and to be a part of this Registration Statement from the date of the filing of such reports and 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 subsequently filed
document that also is 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
None.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Section 145 of the Delaware General Corporation Law, as amended (the DGCL), authorizes a court to award, or a
corporations board of directors to grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities, including reimbursement for expenses incurred, arising under
the Securities Act.
The Registrants amended and restated certificate of incorporation that is currently in effect provides for
indemnification of its directors, officers, employees and other agents to the maximum extent permitted by the DGCL, and the Registrants amended and restated bylaws that is currently in effect provide for indemnification of its directors,
officers, employees and other agents to the maximum extent permitted by the DGCL.
The Registrant has entered into and expects to continue
to enter into agreements to indemnify its directors and executive officers. With certain exceptions, these agreements provide for indemnification for related expenses including, among other things, attorneys fees, judgments, fines and
settlement amounts incurred by any of these individuals in any action or proceeding.
The Registrant maintain insurance policies that
indemnify its directors and officers against various liabilities arising under the Exchange Act that might be incurred by any director or officer in his capacity as such.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS
ITEM 9. UNDERTAKINGS
1.
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The undersigned Registrant hereby undertakes:
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(a)
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To file, during any period in which offers or sales are being made, a post-effective amendment to this
registration statement:
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(i)
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To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
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(ii)
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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 Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the Calculation of Registration
Fee table in the effective registration statement.
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(iii)
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To include any material information with respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in the registration statement;
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Provided,
however
, that paragraphs (a)(i) and (a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference herein.
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(b)
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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 herein, 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)
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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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2.
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The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act of 1933, each filing of the Registrants annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plans 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 herein, 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.
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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 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 Act and will be governed by the final
adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe
that it meets all of the requirements for filing on Form
S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of South San
Francisco, State of California, on August 7, 2019.
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PORTOLA PHARMACEUTICALS, INC.
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By:
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/s/ Mardi C. Dier
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Mardi C. Dier
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Executive Vice President, Chief Financial Officer and Chief Business Officer
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POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS
, that each person whose signature appears below constitutes and appoints Scott Garland, Mardi C.
Dier and John Moriarty, and each or any one of them, his or her true and lawful
attorney-in-fact
and agent, with full power of substitution and resubstitution, for him
and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact
and agents, and each of them, full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith, 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 any of them, or their or his or her substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
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.
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Signature
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Title
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Date
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/s/ Scott Garland
Scott Garland
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Chief Executive Officer and Director
(Principal Executive Officer)
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August 7, 2019
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/s/ Mardi C. Dier
Mardi C. Dier
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Executive Vice President, Chief Financial Officer and Chief Business Officer
(Principal Financial and Accounting Officer)
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August 7, 2019
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/s/ Hollings C. Renton
Hollings C. Renton
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Chairman of the Board of Directors
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August 7, 2019
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/s/ Jeffrey W. Bird
Jeffrey W. Bird, M.D., Ph.D.
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Director
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August 7, 2019
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/s/ Laura Brege
Laura A. Brege
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Director
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August 7, 2019
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/s/ Dennis Fenton
Dennis Fenton, Ph.D.
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Director
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August 7, 2019
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/s/ John H. Johnson
John H. Johnson
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Director
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August 7, 2019
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/s/ David C. Stump
David C. Stump, M.D.
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Director
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August 7, 2019
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/s/ H. Ward Wolff
H. Ward Wolff
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Director
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August 7, 2019
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