Current Report Filing (8-k)

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): July 2, 2021

Protagenic Therapeutics, Inc.

(Exact name of registrant as specified in its charter)

Delaware

000-51353

06-1390025

(State or other jurisdiction

of incorporation)

(Commission

File No.)

(IRS Employer

Identification No.)

149 Fifth Avenue, Suite 500

New York, New York

(Address of principal executive offices)

(212) 994-8200

(Registrant’s telephone number, including area code)

N/A

(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 (see General Instruction A.2. below):

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	PTIX	The Nasdaq Capital Market
Warrants, each exercisable to purchase one share of Common Stock	PTIXW	The Nasdaq Capital Market

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. [ ]

Item 1.01 Entry into a Material Definitive Agreement

On July 2, 2021, Protagenic Therapeutics, Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. and EF Hutton, division of Benchmark Investments, LLC (each, an “Agent” and together, the “Agents”), pursuant to which the Company may offer and sell, from time to time, through the Agents, as sales agent, shares of the Company’s common stock, par value $0.0001 per share, having an aggregate offering price of up to $10,000,000 (the “ATM Offering”).

The Company is not obligated to sell any shares under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, each Agent will use commercially reasonable efforts, consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations and the rules of the Nasdaq Capital Market, to sell shares from time to time based upon the Company’s instructions, including any price, time or size limits specified by the Company. Under the Sales Agreement, the Agents may sell shares by any method deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Company will pay the Agents a commission of 3.0% of the gross sales price per share sold and provide them with customary indemnification and contribution rights. The Sales Agreement may be terminated by the Agents or by the Company upon notice to the other party as provided in the Sales Agreement.

The issuance and sale, if any, of the shares by the Company under the Agreement will be made pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-256790) initially filed with the Securities and Exchange Commission (the “Commission”) on June 4, 2021 and declared effective by the Commission on June 23, 2021 (the “Registration Statement”). The ATM Offering is described in the Company’s Prospectus dated June 23, 2021, as supplemented by a Prospectus Supplement dated July 2, 2021, as filed with the SEC on July 2, 2021.

The foregoing description of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sales 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 legal opinion of Duane Morris LLP relating to the validity of the shares of common stock being offered pursuant to the Sales Agreement is filed as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated herein by reference.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any shares under the Sales Agreement nor shall there be any sale of such shares 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 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description

1.1		At Market Issuance Sales Agreement, dated as of July 2, 2021, by and between Protagenic Therapeutics, Inc., B. Riley Securities, Inc. and EF Hutton, division of Benchmark Investments, LLC.

5.1		Opinion of Duane Morris LLP.

23.1		Consent of Duane Morris LLP (included in Exhibit 5.1).

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.