UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
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SCHEDULE
13D
Under the Securities Exchange Act
of 1934
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Adicet Bio,
Inc.
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(Name of Issuer)
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Common Stock, par value $0.0001 per
share
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(Title of Class of Securities)
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007002 108
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(CUSIP Number)
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aMoon 2 Fund
Limited Partnership
aMoon
2 Fund G.P. Limited Partnership
aMoon
General Partner Ltd.
Dr. Yair C.
Schindel
34 Yerushalaim Rd, Beit Gamla, 6th Floor
Ra'anana, 4350110, Israel
Telephone: +972.73.398.9560
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(Name, Address
and Telephone Number of Person Authorized to
Receive Notices and
Communications)
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September 15, 2020
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(Date of Event which Requires Filing
of this Statement)
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If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this
Schedule 13D, and is filing this schedule because of
§§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following
box. ☐
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*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
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The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934 ("Act") or otherwise subject to
the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the
Notes).
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CUSIP No. |
007002
108 |
1.
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Names of Reporting Persons
aMoon 2 Fund Limited Partnership
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2.
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Check the Appropriate Box if a
Member of a Group (See Instructions)
(a) ☒
(b) ☐
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3.
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SEC Use Only
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4.
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Source of Funds (See Instructions)
OO
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) ☐
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6.
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Citizenship or Place of
Organization
Cayman Islands
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
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7.
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Sole Voting Power
0
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8.
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Shared Voting Power
1,104,460 |
9.
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Sole Dispositive Power
0
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10.
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Shared Dispositive Power
1,104,460
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person
1,104,460
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) ☐
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13.
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Percent of Class Represented by Amount in Row (11)
5.7% (1)
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14.
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Type of Reporting Person (See Instructions)
OO
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(1)
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Based on 19,589,828 shares of
Common Stock outstanding as of September 15, 2020, as reported by
the Issuer in its Current Report on Form 8-K filed by the Issuer
with the Securities and Exchange Commission on September 16,
2020.
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CUSIP No.
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007002
108
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1.
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Names of Reporting Persons
aMoon 2 Fund G.P. Limited Partnership
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2.
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Check the Appropriate Box if a
Member of a Group (See Instructions)
(a) ☒
(b) ☐
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3.
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SEC Use Only
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4.
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Source of Funds (See Instructions)
OO
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) ☐
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6.
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Citizenship or Place of Organization
Israel
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
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7.
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Sole Voting Power
0
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8.
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Shared Voting Power
1,104,460 |
9.
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Sole Dispositive Power
0
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10.
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Shared Dispositive Power
1,104,460
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person
1,104,460
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) ☐
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13.
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Percent of Class Represented by Amount in Row (11)
5.7% (1)
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14.
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Type of Reporting Person (See Instructions)
OO
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(1)
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Based on 19,589,828 shares of
Common Stock outstanding as of September 15, 2020, as reported by
the Issuer in its Current Report on Form 8-K filed by the Issuer
with the Securities and Exchange Commission on September 16,
2020.
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CUSIP No.
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007002
108
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1.
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Names of Reporting Persons
aMoon General Partner Ltd.
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2.
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Check the Appropriate Box if a
Member of a Group (See Instructions)
(a) ☒
(b) ☐
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3.
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SEC Use Only
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4.
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Source of Funds (See Instructions)
OO
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) ☐
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6.
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Citizenship or Place of Organization
Israel
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
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7.
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Sole Voting Power
0
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8.
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Shared Voting Power
1,104,460 |
9.
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Sole Dispositive Power
0
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10.
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Shared Dispositive Power
1,104,460
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person
1,104,460
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) ☐
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13.
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Percent of Class Represented by Amount in Row (11)
5.7% (1)
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14.
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Type of Reporting Person (See Instructions)
OO
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(1)
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Based on 19,589,828 shares of
Common Stock outstanding as of September 15, 2020, as reported by
the Issuer in its Current Report on Form 8-K filed by the Issuer
with the Securities and Exchange Commission on September 16,
2020.
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CUSIP No.
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007002
108
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1.
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Names of Reporting Persons
Dr. Yair C. Schindel
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2.
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Check the Appropriate Box if a
Member of a Group (See Instructions)
(a) ☒
(b) ☐
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3.
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SEC Use Only
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4.
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Source of Funds (See Instructions)
OO
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5.
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Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) ☐
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6.
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Citizenship or Place of Organization
Israel
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
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7.
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Sole Voting Power
30,000 (1)
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8.
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Shared Voting Power
1,104,460 |
9.
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Sole Dispositive Power
30,000 (1)
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10.
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Shared Dispositive Power
1,104,460
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11.
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Aggregate Amount Beneficially Owned by Each Reporting Person
1,134,460
(1)
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12.
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Check if the Aggregate Amount in Row (11) Excludes Certain
Shares (See Instructions) ☐
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13.
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Percent of Class Represented by Amount in Row (11)
5.8% (2)
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14.
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Type of Reporting Person (See Instructions)
OO
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(1)
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Includes a maximum of 30,000 shares
of Common Stock that may be acquired pursuant to options held by
Dr. Schindel.
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(2)
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Based on 19,589,828 shares of
Common Stock outstanding as of September 15, 2020, as reported by
the Issuer in its Current Report on Form 8-K filed by the Issuer
with the Securities and Exchange Commission on September 16,
2020.
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Item 1. Security and
Issuer
This statement
on Schedule 13D relates to the common stock, par value $0.0001 per
share (the "Common Stock"), of Adicet Bio, Inc., a Delaware
corporation (the "Issuer"). The Issuer's principal executive
offices are located at 200 Constitution Drive, Menlo Park, CA
94025.
Item 2. Identity and
Background
(a)
This Schedule
13D is being filed by aMoon 2 Fund Limited Partnership , a Cayman
Islands exempted limited partnership ("aMoon"), aMoon 2 Fund G.P.
Limited Partnership, an Israeli limited partnership ("aMoon G.P."),
aMoon General Partner Ltd., an Israeli company ("aMoon Ltd."), and
Dr. Yair C. Schindel ("Schindel") (collectively, the "Reporting
Persons").
aMoon G.P. is
the sole general partner of aMoon. aMoon Ltd. is the sole
general partner of aMoon G.P. Schindel is the sole
shareholder of aMoon Ltd.
(b)
The address of
the principal business office of each of the Reporting Persons is
34 Yerushalaim Rd, Beit Gamla, 6th Floor, Ra'anana, 4350110,
Israel.
(c)
The principal business of Schindel is
as Managing Partner and Co-Founder of aMoon Fund, an investment
house focused on accelerating cure in healthcare and life
sciences. The principal business of each other Reporting
Person is to generate returns primarily from equity, and
equity-related investments, and convertible and/or bridge loans,
mainly in mid-late stage companies in the fields of healthcare and
life sciences, operating in Israel and in select other global
centers of healthtech innovation.
(d), (e) and (f)
Schindel, an Israeli citizen with the
business address of 34 Yerushalaim Rd, Beit Gamla, 6th
Floor, Ra'anana, 4350110, Israel, is the sole director of aMoon
Ltd. aMoon Ltd. does not have any executive
officers.
The
business and operations of aMoon G.P. are managed by its sole
general partner, aMoon, and the business and operation of aMoon are
managed by its sole general partner, aMoon G.P.
During the last five years, none of
the Reporting Persons has (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
Item 3. Source and Amount of
Funds or Other Consideration
On April 28, 2020, the Issuer (formerly known as resTORbio, Inc.)
entered into that certain Agreement and Plan of Merger (the "Merger
Agreement") with Adicet Bio, Inc., a Delaware corporation ("Old
Adicet"), and Project
Oasis Merger Sub, Inc., a Delaware corporation and a direct,
wholly-owned subsidiary of the Issuer ("Merger Sub"), pursuant to
which, and subject to the satisfaction or waiver of the conditions
set forth in the Merger Agreement, on September 15, 2020, (the
"Effective Date") Old Adicet merged with and into Merger Sub (the
"Merger"). On the Effective Date, the Issuer changed its name
to Adicet Bio, Inc.
The foregoing description of the Merger Agreement does not purport
to be complete and is qualified in its entirety by reference to the
full text of the Merger Agreement, which is filed as Exhibit 1 and
incorporated herein by reference.
Prior to the Merger, aMoon directly
owned 8,906,940 shares of capital stock of Old Adicet ("Old Adicet
Shares").
Immediately prior to the consummation of the Merger, on the
Effective Date, the Issuer completed a reverse stock split pursuant
to which each outstanding share of Common Stock was combined into a
lesser number of shares of Common Stock such that one (1) share of
Common Stock was issued for seven (7) shares of Common Stock.
Pursuant to the Merger Agreement, upon consummation of the Merger
on the Effective Date, each Old Adicet Share was converted into
0.1240 shares of Common Stock.
The Reporting Persons did not pay additional consideration to the
Issuer in connection with the Merger and thus no funds were used
for such purpose.
References to, and descriptions of, the Merger and the Merger
Agreement, as set forth herein, are qualified in their entirety by
reference to the copy of the Merger Agreement included as Exhibit 1
to this Schedule 13D, which is incorporated by reference herein in
its entirety where such references and descriptions appear.
Item 4. Purpose of
Transaction
This statement
relates to the acquisition of shares of Common Stock by the
Reporting Persons. The shares of Common Stock acquired by the
Reporting Persons were acquired for the purpose of making an
investment in the Issuer and not with the intention of acquiring
control of the Issuer's business on behalf of the Reporting
Persons' respective limited partners.
The Reporting
Persons from time to time intend to review their investment in the
Issuer on the basis of various factors, including the Issuer's
business, financial condition, results of operations and prospects,
general economic and industry conditions, the securities markets in
general and those for the Issuer's shares of Common Stock in
particular, as well as other developments and other investment
opportunities. Based upon such review, the Reporting Persons will
take such actions in the future as the Reporting Persons may deem
appropriate in light of the circumstances existing from time to
time. If the Reporting Persons believe that further investment in
the Issuer is attractive, whether because of the market price of
the Common Stock or otherwise, they may acquire shares of Common
Stock or other securities of the Issuer either in the open market
or in privately negotiated transactions. Similarly, depending on
market and other factors, the Reporting Persons may determine to
dispose of some or all of the shares of Common Stock currently
owned by the Reporting Persons or otherwise acquired by the
Reporting Persons either in the open market or in privately
negotiated transactions.
Except as set
forth in this Schedule 13D, the Reporting Persons have not
formulated any plans or proposals which relate to or would result
in: (a) the acquisition by any person of additional securities of
the Issuer or the disposition of securities of the Issuer, (b) an
extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its
subsidiaries, (c) a sale or transfer of a material amount of the
assets of the Issuer or any of its subsidiaries, (d) any change in
the present Board of Directors or management of the Issuer,
including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board, (e) any
material change in the Issuer's capitalization or dividend policy
of the Issuer, (f) any other material change in the Issuer's
business or corporate structure, (g) any change in the Issuer's
charter or bylaws or other instrument corresponding thereto or
other action which may impede the acquisition of control of the
Issuer by any person, (h) causing a class of the Issuer's
securities to be deregistered or delisted from a national
securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association, (i) a class of equity securities of the Issuer
becoming eligible for termination of registration pursuant to
Section 12(g)(4) of the Securities Exchange Act of 1934, as amended
(the "Act") or (j) any action similar to any of those enumerated
above.
Item 5. Interest in
Securities of the Issuer
(a) and
(b)
As of the date
of this Schedule 13D, aMoon holds 1,104,460 shares of Common Stock,
constituting approximately 5.7% of the issued and outstanding
shares of Common Stock. aMoon G.P. is the sole general
partner of aMoon, pursuant to the terms of the limited partnership
agreement of aMoon, and aMoon Ltd. is the sole general partner of
aMoon G.P, pursuant to the terms of the limited liability company
agreement of aMoon G.P. Schindel is the sole shareholder of
aMoon Ltd. By virtue of such relationships, aMoon G.P., aMoon
Ltd. and Schindel may be deemed to have shared voting and
investment power with respect to the Common Stock held by
aMoon.
Schindel, as sole shareholder of aMoon
Ltd., exercises investment and voting power of aMoon G.P.
Schidnel disclaims beneficial ownership of the shares of Common
Stock held by aMoon, aMoon G.P. and aMoon Ltd., except to the
extent of his pecuniary interest therein, if any.
In addition, as of the date of this
Schedule 13D, Schindel holds options to acquire up to 30,000 shares
of Common Stock. Such options vest in equal installments on
each of the thirty-six (36) monthly anniversaries of September 17,
2020, provided that Schindel remains in continuous service as of
the applicable vesting date. As a result, in aggregate,
Schindel may be deemed to beneficially own up to approximately 5.8%
of the issued and outstanding shares of Common Stock.
This Schedule 13D shall not be deemed an admission that Schindel is
the beneficial owner of the shares of Common Stock underlying such
options.
(c)
Except as described in this Schedule 13D, there have been no
transactions in the shares of Common Stock effected by the
Reporting Persons during the last 60 days.
(d)
To the best knowledge of the Reporting Persons, none of the
Reporting Persons has or knows any other person who has the right
to receive or the power to direct the receipt of dividends from, or
the proceeds from the sale of, any Common Stock beneficially owned
by the Reporting Persons.
(e)
Not applicable.
Item 6. Contracts,
Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
In addition to
the relationships between the Reporting Persons described in Items
2 and 5 above, aMoon G.P. is the sole general partner of aMoon,
pursuant to the terms of the limited partnership agreement of
aMoon. Pursuant to this agreement and relationship, aMoon G.P. has
discretionary investment management authority with respect to the
assets of aMoon. Such authority includes the power to vote and
otherwise dispose of securities held by aMoon. The number of
outstanding shares of Common Stock attributable to aMoon is
1,104,460. aMoon G.P., pursuant to its authority under the
limited partnership agreement of aMoon, may be considered to hold
indirectly 1,104,460
shares of Common Stock.
aMoon Ltd. is
the sole general partner of aMoon G.P., pursuant to the terms of
the limited partnership agreement of aMoong G.P. Pursuant to this
agreement and relationship, aMoon Ltd. has discretionary investment
management authority with respect to the assets of aMoon G.P. Such
authority includes the power to vote and otherwise dispose of
securities held by aMoon. The number of outstanding shares of
Common Stock attributable to aMoon G.P. is 1,104,460. aMoon Ltd., pursuant to its
authority under the limited partnership agreement of aMoon G.P.,
may be considered to hold indirectly 1,104,460 shares of Common Stock.
Schindel, the
sole shareholder of aMoon Ltd., is a member of the Board of
Directors of the Issuer. Accordingly, the Reporting Persons may
have the ability to affect and influence control of the
Issuer. In addition to the options described in Item 5 above,
from time to time, Schindel may receive stock options or other
awards of equity-based compensation pursuant to the Issuer's
compensation arrangements for non-employee directors.
In connection with the execution of
the Merger Agreement, certain stockholders of Old Adicet, including
aMoon, entered into a support agreement (the "Support Agreement")
pursuant to which, among other things, each of these stockholders
agreed, solely in its capacity as a stockholder, to vote: (i) in
favor of adoption and approval of the Merger Agreement and the
contemplated transactions; (ii) against any action or agreement
that, to the knowledge of the stockholder, would reasonably be
expected to result in a breach in any material respect of any
covenant, representation or warranty or any other obligation or
agreement of Old Adicet or any of its subsidiaries or affiliates
under the Merger Agreement or that would reasonably be expect to
result in any of the conditions to Old Adicet's or any of its
subsidiaries' or affiliates' obligations under the merger agreement
not being fulfilled; and (iii) against any Old Adicet acquisition
proposal, or any agreement, transaction, or other matter that is
intended to, or would reasonably be expected to, impede, interfere
with, delay, postpone, discourage or materially and adversely
affect the consummation of the merger and all other contemplated
transactions. The Support Agreement grants a proxy to the Issuer to
vote such shares in favor of the Merger Agreement and the
contemplated transactions. In addition, the Support Agreement
places restrictions on the transfer of Old Adicet Shares, options
and warrants held by the respective signatory
stockholders.
In addition, in connection with the
execution of the Merger Agreement, the stockholders that entered
into the Support Agreement, including aMoon, entered into lock-up
agreements (the "Lock-up Agreement") with the Issuer pursuant to
which, among other things, each of these stockholders agreed not
to, except in limited circumstances (i) offer, pledge, sell,
contract to sell, grant any option or contract to purchase,
purchase any option or contract to sell, grant any option, right or
warrant to purchase, or otherwise transfer or dispose of, directly
or indirectly, any shares of Common Stock or any securities
convertible into or exercisable or exchangeable for Common Stock
(including without limitation, Common Stock or such other
securities which may be deemed to be beneficially owned by the
stockholder in accordance with the rules and regulations of the
Securities and Exchange Commission (the "SEC") and securities of
the Issuer which may be issued upon exercise of a stock option or
warrant or settlement of a restricted stock unit) or publicly
disclose the intention to make any such offer, sale, pledge, grant,
transfer or disposition; (ii) enter into any swap, short sale,
hedge or other agreement that transfers, in whole or in part, any
of the economic consequences of ownership of the stockholder's
shares regardless of whether any such transaction described in the
aforementioned clause (i) or this clause (ii) is to be settled by
delivery of Common Stock or such other securities, in cash or
otherwise or (iii) make any demand for or exercise any right with
respect to the registration of any shares of Common Stock or any
security convertible into or exercisable or exchangeable for Common
Stock; from the closing of the Merger until 180 days from the
closing date of the Merger.
Concurrently with the
execution of the Merger Agreement, the Issuer, Old Adicet and
certain investors of Old Adicet, including aMoon (the "Investors"),
entered into a funding agreement (the "Funding Agreement"),
pursuant to which the Investors committed to fund up to an
aggregate of $15,000,000 (the "Funding Amount") into an escrow
account, which will be used to subscribe for shares of Common Stock
in a concurrent private placement in connection with a private
placement or public offering of Common Stock for aggregate gross
proceeds (including the Funding Amount) to the Issuer of at least
$30,000,000 (referred to as a "qualified financing"), on the same
economic conditions (including the price per share paid by other
investors in a qualified financing) and similar other terms and
conditions as set forth in such a qualified financing. If the
Issuer fails to consummate a qualified financing within twelve
months of the completion of the Merger or certain other events
occur, the Funding Amount will be distributed back to the
Investors. Concurrently with the closing of the
Merger, on September 15, 2020, the Issuer, the Investors and PNC
Bank, National Association (the "Escrow Agent") entered into an
escrow agreement (the "Escrow Agreement") pursuant to which the
Funding Amount was deposited in an escrow account with the Escrow
Agent in accordance with the terms of the Funding Agreement.
The foregoing descriptions of the Support Agreement, the Lock-up
Agreement, the Funding Agreement and the Escrow Agreement do not
purport to be complete and are qualified in their entirety by
reference to the full text of the Form of Support Agreement, which
is filed as Exhibit B to the Merger Agreement, which is filed as
Exhibit 1 and incorporated herein by reference, the Form of Lock-up
Agreement, which is filed as Exhibit C to the Merger Agreement,
which is filed as Exhibit 1 and incorporated herein by reference,
the Form of Funding Agreement, which is filed as Exhibit D to the
Merger Agreement, which is filed as Exhibit 1 and incorporated
herein by reference, and the Escrow Agreement, which is filed as
Exhibit 10.1 to the Issuer's Current Report on Form 8-K filed with
the SEC on September 16, 2020 and incorporated herein by
reference.
Other than the Merger Agreement, the Support Agreement, the Lock-up
Agreement, the Funding Agreement and the Escrow Agreement described
above, to the best of the Reporting Persons' knowledge, there are
no contracts, arrangements, understandings or relationships (legal
or otherwise) between any of the Reporting Persons, or any
subsidiary of any of the Reporting Persons, and any person with
respect to the securities of the Issuer, including, but not limited
to, transfer or voting of any of the securities, finder's fees,
joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, division of profits or loss, or the giving
or withholding of proxies, including any securities pledged or
otherwise subject to a contingency the occurrence of which would
give another person voting power or investment power over such
securities.
Item 7. Material to Be Filed
as Exhibits
EXHIBIT
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DOCUMENT
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1
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Agreement and Plan of Merger, dated April 28, 2020, by and among
resTORbio, Inc., Adicet Bio, Inc. and Project Oasis Merger Sub,
Inc. (incorporated by reference to Exhibit 2.1 to the Current
Report on Form 8-K filed by resTORbio, Inc. with the Securities and
Exchange Commission on April 29, 2020).
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2
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Escrow Agreement, dated September 15, 2020, by and among Adicet
Bio, Inc., the Investors (as defined therein) and PNC Bank,
National Association (incorporated by reference to Exhibit 10.1 to
the Current Report on Form 8-K filed by Adicet Bio, Inc. with the
Securities and Exchange Commission on September 16, 2020.
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3
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Joint Filing Agreement by and among
aMoon 2 Limited Partnership, aMoon 2 Fund G.P. Limited Partner,
aMoon General Partner Ltd. and Dr. Yair C. Schindel.
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SIGNATURE
After reasonable
inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
Dated: September 24, 2020
AMOON 2 FUND LIMITED
PARTNERSHIP DDBY: AMOON 2 FUND G.P. LIMITED PARTNERSHIP,
ITS GENERAL PARTNER BTBY: AMOON GENERAL PARTNER
LTD., ITS GENERAL PARTNER
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By:
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/s/ Dr. Yair C. Schindel
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Name:
Title:
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Dr. Yair C. Schindel
Director
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AMOON 2 FUND G.P. LIMITED PARTNERHIP
BY: AMOON GENERAL PARTNER LTD., ITS GENERAL
PARTNER
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By:
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/s/ Dr. Yair C. Schindel
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Name:
Title:
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Dr. Yair C. Schindel
Director
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AMOON GENERAL
PARTNER LTD.
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By:
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/s/ Dr. Yair C. Schindel
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Name:
Title:
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Dr. Yair C. Schindel
Director
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DR. YAIR C.
SCHINDEL
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By:
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/s/ Dr. Yair C. Schindel
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