Current Report Filing (8-k)
May 30 2019 - 5:13PM
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 (Date of earliest event reported): May 30, 2019
Athersys, Inc.
(Exact
name of registrant as specified in charter)
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Delaware
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001-33876
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20-4864095
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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3201 Carnegie Avenue,
Cleveland, Ohio
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44115-2634
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code: (216)
431-9900
(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:
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☐
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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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☐
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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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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Common Stock, par value $0.001 per share
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ATHX
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NASDAQ Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
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 13(a) of the Exchange
Act. ☐
On May 30, 2019, Athersys, Inc. (the Company) entered into an Open Market Sale Agreement
SM
(the Sale Agreement) with Jefferies LLC (Jefferies) pursuant to which the Company may offer and sell shares of its common stock, par value $0.001 per share (the Common
Stock), having aggregate gross sales proceeds of $50.0 million (the Shares), from time to time, through an at the market offering program under which Jefferies will act as sales agent. The shares of Common Stock
that may be sold pursuant to the Sale Agreement will be issued pursuant to the Companys shelf registration statement on Form
S-3
(File
No. 333-216626)
(the
Registration Statement), as supplemented by the prospectus supplement dated May 30, 2019 relating to the sale of the Shares (the Prospectus Supplement).
Under the Sale Agreement, the Company will set the parameters for the sale of Shares, including the number of Shares to be issued, the time
period during which sales are requested to be made, limitations on the number of Shares that may be sold in any one trading day and any minimum price below which sales may not be made. Subject to the terms and conditions of the Sale Agreement,
Jefferies may sell the Shares by methods deemed to be an at the market offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Capital Market
or any other existing trading market for the Common Stock. The Company has agreed to pay Jefferies a commission of 3.0% of the gross sales proceeds of any Shares sold through Jefferies under the Sale Agreement, and also has provided Jefferies with
customary indemnification and contribution rights. The Sale Agreement may be terminated at any time by either party upon prior written notice to the other party.
The representations and warranties contained in the Sale Agreement were made only for purposes of the transactions contemplated by the Sale
Agreement as of specific dates and may have been qualified by certain disclosures between the parties and a contractual standard of materiality different from those generally applicable under securities laws, among other limitations. The
representations and warranties were made for purposes of allocating contractual risk between the parties to the Sale Agreement and should not be relied upon as a disclosure of factual information relating to the Company, Jefferies or the
transactions described in this Current Report on Form
8-K.
The foregoing description of the
material terms of the Sale Agreement is qualified in its entirety by reference to the full agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on Form
8-K
and is incorporated herein by
reference.
The Shares will be sold pursuant to the Registration Statement, and offerings of the Shares will be made only by means of the
Prospectus Supplement. This Current Report on Form
8-K
shall not constitute an offer to sell or the solicitation of any offer to buy the securities discussed herein, nor shall there be any offer, solicitation
or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Item 9.01.
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Financial Statements and Exhibits.
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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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ATHERYS, INC.
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By:
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/s/ Laura K. Campbell
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Name:
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Laura K. Campbell
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Title:
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Senior Vice President of Finance
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Date: May 30, 2019
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