As filed with the Securities and Exchange Commission on August 30, 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
 
SharpSpring, Inc.
(Exact name of registrant as specified in its charter)
 
Delaware
 
05-0502529
(State or other jurisdiction ofincorporation or organization)
(I.R.S. EmployerIdentification No.)
 
5001 Celebration Pointe Avenue, Suite 410
Gainesville, Florida
 
32608
(Address of principal executive offices)
(Zip Code)
 
2019 Equity Incentive Plan
(Full title of the plan)
 
 Bradley M. Stanczak
Chief Financial Officer
5001 Celebration Pointe Avenue, Suite 410
Gainesville, FL 32608
Telephone: 877-705-9362
 Copy to:
David M. Bovi, Esq.
David M. Bovi, PA
2855 PGA Blvd., Suite 150
Palm Beach Gardens, FL 33410
Telephone: (561) 655-0665
 
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.
 
 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. ☐
 
CALCULATION OF REGISTRATION FEE
 
Title of SecuritiesTo Be Registered
Amount ToBe Registered(1)
ProposedMaximum OfferingPrice Per Share(2)
ProposedMaximum AggregateOffering Price(2)
Amount ofRegistration Fee
Common Stock, par value $0.001 per share
697,039
$11.05
$7,702,280.95
$933.52
 
(1)  Pursuant to Rule 416 under the Securities Act, the shares being registered hereunder include such indeterminate number of shares of common stock as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.
(2)  Estimated solely for the purposes of calculating the registration fee in accordance with Rule 457(c) and 457(h) of the Act on the basis of the average of the high and low prices of SharpSpring, Inc.’s Common Stock reported on the Nasdaq Capital Market on August 28, 2019, which date is within 5 business days prior to filing this Registration Statement.
 

 
 
 
EXPLANATORY NOTE
 
The purpose of this Registration Statement on Form S-8 is to register an aggregate of 697,039 shares of SharpSpring, Inc. (the “Company”) common stock, par value $0.001 per share (the “Common Stock”) which may be offered pursuant to the Company’s 2019 Equity Incentive Plan (the “2019 Plan”).
 
PART I
 
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
 
The document(s) containing the information specified in Part I will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act. Such documents are not being filed with the Securities and Exchange Commission (the “Commission”) either as part of this registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in this registration statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
 
PART II
 
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
 
Item 3.   Incorporation of Documents by Reference.
 
The following documents filed by the Company with the Securities and Exchange Commission (“Commission”) are incorporated by reference into this registration statement (other than information furnished under Item 2.02 or Item 7.01 of Form 8-K or other portions of documents filed with the Commission which are furnished, but not filed, pursuant to applicable rules promulgated by the Commission):
 
(a) The Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the Commission on March 5, 2019; 
 
(b) The information specifically incorporated by reference into the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, from the Company’s Definitive Proxy Statement on Schedule 14A, filed with the Commission on April 30, 2019;
 
(c) The Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, filed with the Commission on May 14, 2019;
 
(d) The Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, filed with the Commission on August 14, 2019;
 
(e) The Company’s Current Reports on Form 8-K filed with the SEC on February 27, 2019, March 6, 2019, March 8, 2019, March 26, 2019, May 9, 2019, June 13, 2019, June 17, 2019, June 18, 2019, June 25, 2019, August 6, 2019 and August 20, 2019;
 
(f) The description of the Company’s Common Stock contained in its registration statement on Form 8-A, filed with the Commission on January 27, 2014, including any amendment or report filed for the purpose of updating such description; and
 
(g) All other documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement, and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered herein have been sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents; provided, however, that the Company is not incorporating by reference any documents, portions of documents, exhibits or other information that is deemed to have been “furnished” to, rather than “filed” with, the Commission. Any statement contained in a document 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 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.
 
 
2
 
 
Item 4.   Description of Securities.
 
Not applicable.
 
Items 5.   Interests of Named Experts and Counsel.
 
Not applicable.
 
Item 6.   Indemnification of Directors and Officers.
 
Section 145(a) of the Delaware General Corporation Law provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), because he or she is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, if he or she acted in good faith and in a manner 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 his or her conduct was unlawful.
 
Section 145(b) of the Delaware General Corporation Law provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor because the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made with respect to any claim, issue or matter as to which he or she shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, he or she is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or other adjudicating court shall deem proper.
 
Section 145(g) of the Delaware General Corporation Law provides, in general, that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section 145 of the Delaware General Corporation Law.
 
Article VI of our certificate of incorporation, as amended (the “Charter”), provides that no director of our Company shall be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director, except for liability (1) for any breach of the director’s duty of loyalty to us or our stockholders, (2) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) in respect of unlawful dividend payments or stock redemptions or repurchases, or (4) for any transaction from which the director derived an improper personal benefit. In addition, our Charter provides that if the Delaware General Corporation Law is amended to authorize the further elimination or limitation of the liability of directors, then the liability of a director of our Company shall be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended.
 
Article VI of the Charter further provides that any repeal or modification of such article by our stockholders or amendment to the Delaware General Corporation Law will not adversely affect any right or protection existing at the time of such repeal or modification with respect to any acts or omissions occurring before such repeal or modification of a director serving at the time of such repeal or modification.
 
Article IX of our bylaws (the “Bylaws”), provides that that our Company shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by, or in the right of our Company) by reason of the fact that he is or was a director, officer, employee or agent of our Company, or is or was serving at the request of our Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust or other enterprise against expenses (including attorney’s fees), judgments, fines, amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding, including any appeal thereof, if he acted in good faith in a manner he reasonably believed to be in, or not opposed to the best interests of our Company, and with respect to any criminal action or proceeding, had no reasonable cause to believe that his conduct was unlawful. The indemnification provided by the Bylaws are in addition to the indemnification rights provided pursuant to the Delaware General Corporation Law, and are not exclusive of any other rights to which any person seeking indemnification may he entitled.
 
Our Company has obtained directors’ and officers’ liability insurance which insures against certain liabilities that directors and officers of our Company and subsidiaries, may, in such capacities, incur.
 
Our Company has entered into employee agreements with our executive officers which contain indemnification provisions. These agreements provide that our Company will indemnify each of our executive officers to the fullest extent permitted by law and by our Charter or Bylaws.
 
 
3
 
 
Item 7.   Exemption from Registration Claimed.
 
Not applicable.
 
Item 8.   Exhibits.
 
For a list of exhibits, see the Exhibit Index contained in this Registration Statement, which information is incorporated herein by reference.
 
Item 9.   Undertakings.
 
(a) 
The undersigned registrant hereby undertakes:
 
(1) 
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
 
(i) 
To  include any prospectus required by Section 10(a)(3) of the Securities Act;
 
(ii) 
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; and
 
(iii) 
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
 
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-8 and 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 this registration statement.
 
(2) 
That, for the purpose of determining any liability under the Securities Act, 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.
 
(3) 
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.
 
(b) 
 The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the 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 may be permitted to directors, officers or controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities 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 Securities Act and will be governed by the final adjudication of such issue.
 
 
4
 
SIGNATURES
 
Pursuant to the requirements of the Securities Act, 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 Gainesville, State of Florida, on August 30, 2019.
 
 
SHARPSPRING, INC.
 
 
 
 
 
 
 
By:
/s/ Richard A. Carlson
 
 
Richard A. Carlson
 
 
Chief Executive Officer
 
 
(Principal Executive Officer)
 
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
 
 
Signature
 
Title
 
Date
 
 
 
 
 
/s/  Richard A. Carlson
 
Chief Executive Officer and President (Principal Executive Officer), Director
 
August 30, 2019
Richard A. Carlson
 
 
 
 
 
 
 
 
 
/s/  Bradley M. Stanczak
 
Chief Financial Officer (Principal Financial Officer)
 
August 30, 2019
Bradley M. Stanczak
 
 
 
 
 
 
 
 
 
/s/  Steven A. Huey
 
Chair of the Board of Directors
 
August 30, 2019
Steven A. Huey
 
 
 
 
 
 
 
 
 
/s/ Marietta Davis
 
Director
 
August 30, 2019
Marietta Davis
 
 
 
 
 
 
 
 
 
/s/ David A. Buckel
 
Director
 
August 30, 2019
David A. Buckel
 
 
 
 
 
 
 
 
 
/s/ Scott Stewart Miller
 
Director
 
August 30, 2019
Scott Stewart Miller
 
 
 
 
 
 
 
5
 
 
EXHIBIT INDEX
 
Number
 
Description
 
Certificate of Incorporation (incorporated by reference to our Form S-1 filed on December 2, 2010)
 
Amendment to Certificate of Incorporation (incorporated by reference to our Form 8-K filed on December 17, 2013)
 
Amendment to Certificate of Incorporation (incorporated by reference to our Form 8-K filed December 1, 2015)
 
SharpSpring, Inc. 2019 Equity Incentive Plan (incorporated by reference to Appendix A to the Company’s Definitive Schedule 14A as filed with the Commission on April 30, 2019).
5.1
 
Opinion of Counsel*
 
Consent of David M. Bovi, P.A. (included in Exhibit 5.1)
 
Consent of Cherry Bekaert LLP, independent registered public accounting firm*
 
* Filed herewith
 
 
 
 
 
 
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