Securities Registration: Employee Benefit Plan (s-8)
November 13 2017 - 6:05AM
Edgar (US Regulatory)
As filed with the Securities and Exchange Commission on November 9, 2017
Registration No. 333 -
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
S-8
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT OF 1933
PIERIS
PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
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Nevada
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30-0784346
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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255 State Street, 9
th
Floor
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Boston, MA
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02109
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(Address of Principal Executive Office)
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(Zip Code)
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Inducement Stock Option Award for Claude Knopf
Inducement Stock Option Award for Allan Reine, M.D.
Inducement Stock Option Award for Ingmar Bruns, M.D., Ph.D.
(Full Title of the Plan)
Stephen S. Yoder
President and Chief Executive Officer
Pieris Pharmaceuticals, Inc.
255 State Street, 9th Floor
Boston, MA 02109
(857)
246-8998
(Name, address and telephone number, including area code, of agent for service)
Copies to:
Marc
D. Mantell, Esq.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
One Financial Center
Boston, Massachusetts 02111
(617)
542-6000
Facsimile: (617)
542-2241
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting 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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☐ (Do not check if a smaller reporting company)
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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
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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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500,000 shares
(1)
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$1.45
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$725,000
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$90.26
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Common Stock, par value $0.001 per share
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450,000 shares
(2)
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$5.00
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$2,250,000
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$280.13
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Common Stock, par value $0.001 per share
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175,000 shares
(3)
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$5.87
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$1,027,250
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$127.89
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Total:
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$498.28
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(1)
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Consists of shares of Common Stock of the Registrant issuable upon exercise of a
non-qualified
stock option granted to Claude Knopf, Senior Vice President and Chief Business
Officer of the Registrant, on November 28, 2016. Pursuant to Rule 416 under the Securities Act, this Registration Statement also covers an indeterminate number of shares which may be subject to grant or otherwise issuable after the operation of
certain anti-dilution and other provisions of the
non-qualified
option agreement between the Registrant and Mr. Knopf.
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(2)
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Consists of shares of Common Stock of the Registrant issuable upon exercise of a
non-qualified
stock option granted to Allan Reine, M.D., Senior Vice President and Chief Financial
Officer of the Registrant, on August 9, 2017. Pursuant to Rule 416 under the Securities Act, this Registration Statement also covers an indeterminate number of shares which may be subject to grant or otherwise issuable after the operation of
certain anti-dilution and other provisions of the
non-qualified
option agreement between the Registrant and Dr. Reine.
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(3)
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Consists of shares of Common Stock of the Registrant issuable upon exercise of a
non-qualified
stock option granted to Ingmar Bruns, Vice President of Clinical Development of the
Registrant, on October 12, 2017. Pursuant to Rule 416 under the Securities Act, this Registration Statement also covers an indeterminate number of shares which may be subject to grant or otherwise issuable after the operation of certain
anti-dilution and other provisions of the
non-qualified
option agreement between the Registrant and Dr. Bruns.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
EXPLANATORY NOTE
This Form
S-8
Registration Statement is filed to register an aggregate of 1,125,000 shares of Common Stock issuable upon exercise of
non-qualified
stock options granted to
(i) Claude Knopf, Senior Vice President and Chief Business Officer on November 28, 2016, pursuant to the terms of a
Non-Qualified
Stock Option Agreement by and between the Registrant and
Mr. Knopf, dated as of November 28, 2016 (the “Knopf Option Agreement”) and as an inducement material to his entering into employment with the Registrant, (ii) Allan Reine, M.D., Senior Vice President and Chief Financial
Officer on August 9, 2017, pursuant to the terms of a
Non-Qualified
Stock Option Agreement by and between the Registrant and Dr. Reine, dated as of August 9, 2017 (the “Reine Option
Agreement”) and as an inducement material to his entering into employment with the Registrant and (iii) Ingmar Bruns, M.D., Ph.D., Vice President of Clinical Development on October 12, 2017, pursuant to the terms of a
Non-Qualified
Stock Option Agreement by and between the Registrant and Dr. Bruns, dated as of October 12, 2017 (the “Bruns Option Agreement”) and as an inducement material to his entering into
employment with the Registrant.
In accordance with the instructional Note to Part I of Form
S-8
as promulgated by
the Securities and Exchange Commission (the “Commission”), the information specified by Part I of Form
S-8
has been omitted from this Registration Statement on Form
S-8
for offers of Common Stock pursuant to the Knopf Option Agreement, the Reine Option Agreement and the Bruns Option Agreement. The documents containing the information specified in Part I will be delivered
to Mr. Knopf, Dr. Reine and Dr. Bruns, as required by Rule 428(b)(1) under the Securities Act.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the Commission are incorporated herein by reference:
(a) Annual Report on Form
10-K
for the year ended December 31, 2016 filed with the Commission on
March 30, 2017;
(b) Quarterly Report on Form
10-Q
for the fiscal quarter ended
March 31, 2017, filed with the Commission on May 15, 2017;
(c) Quarterly Report on Form
10-Q
for the fiscal quarter ended June 30, 2017, filed with the Commission on August 11, 2017;
(d) Quarterly Report on Form
10-Q
for the fiscal quarter ended September 30, 2017, filed with the
Commission on November 9, 2017;
(e) Current Reports on Form
8-K
filed with the Commission on
May 3, 2017, May 22, 2017, and July 5, 2017; and
(f) The description of Common Stock contained in the Registrant’s
Registration Statement on Form
8-A
filed on June 24, 2015 (File
No. 001-37471),
including any amendments or reports filed for the purpose of updating that
description.
All reports and other documents filed by the Registrant after the date hereof 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), prior to the filing of a
post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of
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 the purposes of this Registration Statement to the extent that
a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any 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
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None.
Item 6.
Indemnification of Directors and Officers
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The Registrant is a Nevada corporation and is generally governed by the Nevada Revised
Statutes, or NRS.
The Registrant’s amended and restated articles of incorporation and amended and restated bylaws provide that each
person who was or is made a party or is threatened to be made a party to or is otherwise involved (including, without limitation, as a witness) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of
the fact that he or she is or was one of the Registrant’s directors or officers or is or was serving at its request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
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or other enterprise, whether the basis of such action, suit or proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a
director, officer or trustee, shall be indemnified and held harmless by us to the fullest extent authorized by NRS against all expense, liability and loss (including attorneys’ fees and amounts paid in settlement) reasonably incurred or
suffered by such.
NRS 78.7502 permits a corporation to indemnify any director or officer of the corporation against expenses (including
attorneys’ fees) and amounts paid in settlement actually and reasonably incurred in connection with any action, suit or proceeding brought by reason of the fact that such person is or was a director or officer of the corporation, if such person
(i) is not liable pursuant to NRS 78.138 and (ii) acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe the conduct was unlawful. In a derivative action (i.e., one brought by or on behalf of the corporation), indemnification may be provided only for expenses actually and reasonably incurred by any
director or officer in connection with the defense or settlement of such an action or the suit if such person (i) is not liable pursuant to NRS 78.138 and (ii) acted in good faith and in a manner which he or she reasonably believed to be
in or not opposed to the best interests of the corporation, except that no indemnification shall be provided if such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the court in which the action or
suit was brought or some other court of competent jurisdiction determines that such person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.
The Registrant’s amended and restated Articles of incorporation provide that the liability of its directors and officers shall be
eliminated or limited to the fullest extent permitted by the NRS. NRS 78.138(7) provides that, subject to limited statutory exceptions and unless the articles of incorporation or an amendment thereto (in each case filed on or after October 1,
2003) provide for greater individual liability, a director or officer is not individually liable to a corporation or its stockholders or creditors for any damages as a result of any act or failure to act in his or her capacity as a director or
officer unless it is proven that: (i) the act or failure to act constituted a breach of his or her fiduciary duties as a director or officer and (ii) the breach of those duties involved intentional misconduct, fraud or a knowing violation
of law.
The Registrant has entered into indemnification agreements with its directors and certain officers, in addition to the
indemnification provided in the NRS, its amended and restated articles of incorporation and amended and restated bylaws, and intend to enter into indemnification agreements with any new directors and officers in the future. The Registrant has
purchased and intend to maintain insurance on behalf of any person who is or was a director or officer against any loss arising from any claim asserted against him or her and incurred by him or her in any such capacity, subject to certain
exclusions.
The foregoing discussion of the Registrant’s amended and restated articles of incorporation, amended and restated
bylaws, indemnification agreements, indemnity agreement, and Nevada law is not intended to be exhaustive and is qualified in its entirety by such amended and restated articles of incorporation, amended and restated bylaws, indemnification
agreements, indemnity agreement, or law.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed as a part of or incorporated by reference into this Registration Statement:
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Exhibit
Number
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Exhibit Description
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4.2
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Certificate of Designation of Series A Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to the Registrant’s Quarterly
Report on Form
10-Q
(File
No. 001-37471)
filed with the Commission on August 11, 2015).
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4.3
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Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form
8-K
(File
No. 333-190728)
filed with the Commission on December 18, 2014).
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4.4
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Form of Common Stock certificate (incorporated by reference to Exhibit 4.2 to the Registrant’s Annual Report on Form
10-K
(File
No. 001-37471)
filed with the Commission on March 23, 2016).
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5.1*
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Opinion of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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23.1*
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Consent of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (included in opinion of counsel filed as Exhibit 5.1).
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23.2*
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Consent of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft.
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23.3*
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Consent of Ernst & Young LLP.
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24.1*
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Power of Attorney to file future amendments (set forth on the signature page of this Registration Statement).
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99.1*
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Non-Qualified
Stock Option Agreement by and between the Registrant and Claude Knopf, dated as of November 28, 2016.
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99.2*
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Non-Qualified
Stock Option Agreement by and between the Registrant and Allan Reine, M.D., dated as of August 9, 2017.
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99.3*
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Non-Qualified
Stock Option Agreement by and between the Registrant and Ingmar Bruns, M.D., Ph.D., dated as of October 12, 2017.
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Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
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(1)
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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 a 20% 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 (1)(i) and (1)(ii) of this section 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 in the Registration Statement.
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(2)
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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 therein, 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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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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(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the
Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 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 of 1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the indemnification provisions summarized in Item 6, 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
The Registrant.
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 city of
Boston, Massachusetts on November 9, 2017.
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PIERIS PHARMACEUTICALS, INC.
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By:
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/s/ Stephen S. Yoder
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Stephen S. Yoder
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President and Chief Executive Officer
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Each person whose signature appears below constitutes and appoints Stephen S. Yoder and Allan Reine, and
each of them singly, his true and lawful
attorneys-in-fact
and agents, with full power of substitution and resubstitution in each of them singly, for him and in his
name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form
S-8
of Pieris Pharmaceuticals, Inc., and to
file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting to the
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 or about the premises, as full to all intents and purposes as he might or could do in person, hereby ratifying and
confirming all that the
attorneys-in-fact
and agents or any of each of them or their 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/ Stephen S. Yoder
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President, Chief Executive Officer and
Director
(Principal Executive Officer
)
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November 9, 2017
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Stephen S. Yoder
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/s/ Allan Reine
Allan Reine
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Chief Financial Officer and Treasurer (
Principal Financial and
Accounting Officer
)
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November 9, 2017
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/s/ Chau Khuong
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Chairman of the Board of Directors
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November 9, 2017
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Chau Khuong
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/s/ Michael Richman
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Director
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November 9, 2017
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Michael Richman
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/s/ Steven Prelack
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Director
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November 9, 2017
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Steven Prelack
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/s/ Jean-Pierre Bizzari
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Director
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November 9, 2017
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Jean-Pierre Bizzari
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/s/ Julian Adams
Julian Adams
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Director
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November 9, 2017
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/s/ Christopher Kiritsy
Christopher Kiritsy
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Director
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November 9, 2017
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/s/ James Geraghty
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Director
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November 9, 2017
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James Geraghty
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