As filed with the Securities and Exchange Commission on July 13, 2023
Registration No. 333-____
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
Milestone Scientific Inc.
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
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13-3545623
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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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425 Eagle Rock Avenue, Suite 403
Roseland, New Jersey 07068
(Address of Principal Executive Offices)
Amended and Restated 2020 Equity Incentive Plan
(Full Title of the Plan)
Arjan Haverhals
Chief Executive Officer
425 Eagle Rock Avenue, Suite 403
Roseland, New Jersey 07068
(973) 535-2717
(Name, Address and Telephone Number, Including Area Code, of Agent for Service)
with a copy to:
Lawrence Bell, Esq.
Golenbock Eiseman Assor Bell & Peskoe LLP
711 Third Avenue
New York, New York 10017
Telephone: (212) 907-7370
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 definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☑
Emerging growth company ☐
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. ☐
In accordance with the provisions of Rule 462 promulgated under the Securities Act, this registration statement will become effective upon filing with the Securities and Exchange Commission.
PART I
STATEMENT OF INCORPORATION BY REFERENCE
This Registration Statement relates to securities of the same class as those to which prior effective Registration Statement on Form S-8 (File No. 333-257895) (the “Existing S-8”), and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities. Pursuant to General Instruction E of Form S-8, the contents of the Existing S-8, except as otherwise set forth in this Registration Statement, are incorporated herein by reference.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATMENT
Item 8. Exhibits
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-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Roseland, State of New Jersey, on July 13, 2023.
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MILESTONE SCIENTIFIC INC. |
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By: |
/s/ Arjan Haverhals |
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Arjan Haverhals |
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Chief Executive Officer |
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POWER OR ATTORNEY
We, the undersigned officers and directors of Milestone Scientific Inc., hereby severally constitute and appoint Arjan Haverhals and Neal Goldman and each of them singly (with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution in each of them for him or her and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement (or any other registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), 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 or necessary to be done in and about the premises, as full to all intents and purposes as he 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 substitute or substitutes, 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 date indicated.
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Signature
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Title
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Date
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/s/ Arjan Haverhals
Arjan Haverhals
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Chief Executive Officer (Principal
Executive Officer) and Director
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July 13, 2023
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/s/ Peter Milligan
Peter Milligan
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Chief Financial Officer (Principal
Accounting & Financial Officer)
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July 13, 2023
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/s/ Neal Goldman
Neal Goldman
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Chairman of the Board
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July 13, 2023
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/s/ Leonard Osser
Leonard Osser
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Vice Chairman of the Board
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July 13, 2023
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/s/ Gian Domenico Trombetta
Gian Domenico Trombetta
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Director
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July 13, 2023
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/s/ Michael McGeehan
Michael McGeehan
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Director
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July 13, 2023
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/s/ Benedetta Casamento
Benedetta Casamento
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Director
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July 13, 2023
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Exhibit 5.1
Golenbock Eiseman Assor Bell & Peskoe LLP
711 Third Avenue
New York, New York 10017
July 13, 2023
Milestone Scientific Inc.
425 Eagle Rock Avenue, Suite 403
Roseland, New Jersey 07068
Ladies and Gentlemen:
We have acted as counsel to Milestone Scientific Inc., a Delaware corporation (the “Company”), in connection with a Registration Statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Act”), relating to the issuance by the Company from time to time of up to 7,500,000 shares of Common Stock, $0.001 par value, of the Company (the “Shares”), pursuant to the Company’s Amended and Restated 2020 Equity Incentive Plan (the “2020 Plan”).
We have examined such documents and considered such legal matters as we have deemed necessary and relevant as the basis for the opinion set forth below. With respect to such examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as reproduced or certified copies, and the authenticity of the originals of those latter documents. We have also assumed that in granting future awards under the 2020 Plan, the Board of Directors of the Company or the appropriate committee thereunder will exercise its discretion in establishing the terms of such awards within the permissible limits of the law of the State of Delaware and the Certificate of Incorporation and By-laws of the Company.
Based upon the foregoing, it is our opinion that the Shares to be issued by the Company under the 2020 Plan, when issued in accordance with the terms of the 2020 Plan and the individual instruments or agreements governing their issuance, will be legally issued, fully paid and non-assessable, although they may be subject to contractual restrictions established by the 2020 Plan or the individual instrument or agreement.
In giving this opinion, we have assumed that all certificates for the Shares, prior to their issuance, will be duly executed on behalf of the Company by the Company’s transfer agent and registered by the Company’s registrar, if necessary, and will conform, except as to denominations, to specimens which we have examined.
We express no opinion as to the applicability or effect of any laws, orders or judgments of any state or other jurisdiction other than U.S. Federal securities laws and the General Corporation Law of the State of Delaware. Further, this opinion speaks as of the date hereof and is based solely upon existing laws, rules and regulations, and we undertake no obligation to advise you of any changes that may be brought to our attention after the date hereof. This opinion is expressly limited to the matters set forth above and we render no opinion, whether by implication or otherwise, as to any other matters relating to the Company or the Shares.
This opinion is issued to you solely for use in connection with the Registration Statement and is not to be quoted or otherwise referred to in any financial statements of the Company or any other document, nor is it to be filed with or furnished to any government agency or other person, without our prior written consent.
We hereby consent to the use of this opinion as an exhibit to the Registration Statement, to the use of our name as your counsel and to all references made to us in the Registration Statement. In giving this consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations promulgated thereunder.
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Very truly yours,
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/s/ Golenbock Eiseman Assor Bell & Peskoe LLP |
Exhibit 23.1
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM’S CONSENT
We consent to the incorporation by reference in this Registration Statement of Milestone Scientific Inc. on Form S-8 of our report dated March 30, 2023 with respect to our audit of the consolidated financial statements of Milestone Scientific Inc. as of and for the year ended December 31, 2022 appearing in the Annual Report on Form 10-K of Milestone Scientific Inc. for the year ended December 31, 2022.
/s/ Marcum llp
Marcum llp
East Hanover, New Jersey
July 13, 2023
Exhibit 23.2
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM’S CONSENT
We consent to the incorporation by reference in this Registration Statement of Milestone Scientific Inc. on Form S-8 of our report dated March 31, 2022 with respect to our audit of the consolidated financial statements of Milestone Scientific Inc. as of and for the year ended December 31, 2021 appearing in the Annual Report on Form 10-K of Milestone Scientific Inc. for the year ended December 31, 2022.
We were dismissed as auditors on September 12, 2022 and, accordingly, we have not performed any audit or review procedures with respect to any financial statements incorporated by reference for the periods after the date of our dismissal.
/s/ Friedman llp
Friedman llp
East Hanover, New Jersey
July 13, 2023
Exhibit 107
Calculation of Filing Fee Tables
Form S-8
(Form Type)
Milestone Scientific Inc.
(Exact Name of Registrant as Specified in its Charter
Table 1: Newly Registered Securities
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Title of each Class 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, $.001 par value
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7,500,000(2)
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$0.85(3)
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$6,375,000
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$702.52
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(1)
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In addition, pursuant to Rule 416 (c) under the Securities Act of 1933, as amended (the “Securities Act”), this registration statement also covers an indeterminate number of additional shares which may be issued pursuant to the above plan as a result of any future stock split, stock dividend, or similar adjustment.
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(2)
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Shares issuable in respect of awards granted under the Amended and Restated 2020 Equity Incentive Plan.
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(3)
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Estimated pursuant to Rule 457(c) solely for the purposes of calculating the amount of the registration fee, based on the average of the high and low prices reported on July 5, 2023 by the NYSE American.
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