As filed with the Securities and Exchange Commission on August 9, 2017.June 26, 2020

RegistrationNo. 333-            

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington,WASHINGTON, D.C. 20549

 

 

FORM S-3

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

ZAFGEN, INC.Larimar Therapeutics, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware

27-3857670

(State or other jurisdiction of

incorporation or organization)

 

20-3857670

(I.R.S. Employer

Identification Number)

175 Portland Street, 4th FloorThree Bala Plaza East, Suite 506

Boston, Massachusetts 02114Bala Cynwyd, PA 19004

(484)414-2700

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

 

(617)Carole622-4003Ben-Maimon, M.D.

(Registrant’s telephone number, including area code)

Thomas E. Hughes, Ph.D.

President and Chief Executive Officer

Zafgen,Larimar Therapeutics, Inc.

175 Portland Street, 4th FloorThree Bala Plaza East, Suite 506

Boston, Massachusetts 02114Bala Cynwyd, PA 19004

(617)(484)622-4003414-2700

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

 


With copiesCopies to:

Mitchell S. Bloom,Rachael M. Bushey, Esq.

Laurie A. Burlingame,Jennifer L. Porter, Esq.

Goodwin ProcterPepper Hamilton LLP

100 Northern Avenue3000 Two Logan Square

Boston, Massachusetts 02210Eighteenth and Arch Streets

(617)570-1000Philadelphia, PA 19103

(215) 981-4000

 

 

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement becomes effective.registration statement.

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.box:  ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended, or Securities Act, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box:  ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  ☐

If this Formform is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-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” inRule 12b-2 of the Exchange Act of 1934, as amended.Act.

 

Large accelerated filer   Accelerated filer 
Non-accelerated filer ☐  (Do not check if a smaller reporting company)  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 Each Class of

Securities to be Registered

 

Amount

to be
Registered (1)

 Proposed
Maximum
Offering Price
Per Unit (2)
 

Proposed
Maximum
Aggregate

Offering Price (3)

 

Amount of

Registration Fee (4)

Common Stock (5)

        

Preferred Stock (6)

        

Debt Securities (7)

        

Warrants (8)

        

Units (9)

        

Total

 $150,000,000 N.A. $150,000,000 $17,385

 

 

 

Title of Each Class of

Securities to be Registered

 

Amount

to be

Registered (1)

 

Proposed

Maximum

Offering Price

Per Share (2)

 

Proposed

Maximum

Aggregate

Offering Price (2)

 Amount of
Registration Fee

Common Stock, $0.001 par value per share

 12,860,272 $13.29 $170,913,015 $22,184.51

 

 

(1)The amount

Pursuant to be registered consistsRule 416(a) of up to $150,000,000the Securities Act of an indeterminate amount1933, as amended, this Registration Statement shall also cover any additional shares of the Registrant’s common stock preferredthat become issuable by reason of any stock debt securities, warrants and/dividend, stock split, recapitalization or units. There is also being registered hereunder such currently indeterminateother similar transaction effected without receipt of consideration that increases the number of (i)the Registrant’s outstanding shares of common stock or other securities of the registrant as may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered hereby, or (ii) shares of preferred stock, common stock, debt securities or units as may be issued upon exercise of warrants registered hereby, as the case may be. Any securities registered hereunder may be sold separately or as units with the other securities registered hereunder.stock.

(2)The proposed maximum aggregate offering price per unit will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security pursuant to General Instruction II.D. ofForm S-3 under the Securities Act.
(3)

Estimated solely for purposes of computingcalculating the registration fee. No separate consideration will be received for (i) common stock or other securities of the registrant that may be issued upon conversion of, or in exchange for, convertible or exchangeable debt securities and/or preferred stock registered hereby, or (ii) preferred stock, common stock, debt securities or units that may be issued upon exercise of warrants registered hereby, as the case may be.

(4)The registration fee has been calculated in accordance with Rule 457(o) under457(c) solely for purposes of calculating the Securities Act.
(5)Including such indeterminate amountregistration fee on the basis of the average of the high ($13.98) and low ($12.60) prices of Registrant’s common stock as may be issued from time to time at indeterminate prices or upon conversion of debt securities and/or preferred stock registered hereby, or upon exercise of warrants registered hereby, as the case may be.
(6)Including such indeterminate amount of preferred stock as may be issued from time to time at indeterminate prices or upon conversion of debt securities and/or preferred stock registered hereby, or upon exercise of warrants registered hereby, as the case may be.
(7)Including such indeterminate principal amount of debt securities as may be issued from time to time at indeterminate prices or upon exercise of warrants registered hereby, as the case may be.
(8)Including such indeterminate number of warrants or other rights, including without limitation share purchase or subscription rights, as may be issued from time to time at indeterminate prices.
(9)Each unit will be issued under a unit agreement and will represent an interest in two or more securities, which may or may not be separable from one another.reported on The Nasdaq Global Market on June 24, 2020.

THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment that specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) OF THE SECURITIES ACT OFof the Securities Act of 1933 AS AMENDED, OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION ACTING PURSUANT TO SAID SECTIONor until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), MAY DETERMINE.may determine.

 

 

 


The information contained in this preliminary prospectus is not complete and may be changed. TheseA registration statement relating to these securities may not be sold until the registration statementhas been filed with the Securities and Exchange Commission. The selling stockholders may not sell these securities until the Securities and Exchange Commission isdeclares the registration statement effective. This preliminary prospectus is not an offer to sell nor doesthese securities and it seekis not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

 

SUBJECT TO COMPLETION,

DATED AUGUST 9, 2017.JUNE 26, 2020.

PROSPECTUS

$150,000,000

LOGO

LOGO

12,860,272 Shares of Common Stock

Preferred Stock

Debt Securities

Warrants

Units

 

 

WeThis prospectus of Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.), a Delaware corporation, or Larimar, relates to the offering and resale by the selling stockholders identified herein of up to 12,860,272 shares of common stock of Larimar, par value $0.001 per share, or Common Stock. The shares offered by the selling stockholders consist of:

6,091,250 shares that were privately issued pursuant to an Agreement and Plan of Merger, dated as of December 17, 2019, as amended, or the Merger Agreement, by and among Larimar, Zordich Merger Sub, Inc., a wholly-owned subsidiary of Larimar, Chondrial Therapeutics, Inc. and Chondrial Therapeutics Holdings, LLC, in connection with our merger with Chondrial Therapeutics, Inc., or the Merger;

6,105,359 shares that were issued in a private placement pursuant to a Securities Purchase Agreement, dated May 28, 2020, or the Private Placement, by and among Larimar and the investors listed therein;

628,403 shares that are issuable upon exercise ofpre-funded warrants to purchase shares of Common Stock that we issued in connection with the Private Placement on May 28, 2020; and

35,260 shares that were issued as compensation to a placement agent for services rendered to Larimar in connection with the Private Placement.

The shares of Common Stock described in this prospectus or in any supplement to this prospectus may be sold from time to time issue,pursuant to this prospectus by the selling stockholders in oneordinary brokerage transactions, in transactions in which brokers solicit purchases, in negotiated transactions, or more seriesin a combination of such methods of sale, at market prices prevailing at the time of sale, at prices related to such prevailing market prices, at fixed prices or classes, upprices subject to $150,000,000change, or at negotiated prices. See “Selling Stockholders” and “Plan of Distribution.” We cannot predict when or in aggregate principal amountwhat amounts the selling stockholders may sell any of the shares offered by this prospectus.

We are not selling any shares of our common stock, preferred stock, debt securities, warrants and/or units. We may offer these securities separately or together in units. WeCommon Stock, and we will specify in the accompanying prospectus supplement the termsnot receive any of the securities being offered.proceeds from the sale of shares by the selling stockholders. The selling stockholders will pay all brokerage fees and commissions and similar sale-related expenses. We may sell these securitiesare only paying expenses relating to or through underwriters and also to other purchasers or through agents. We will set forth the names of any underwriters or agents, and any fees, conversions, or discount arrangements, in the accompanying prospectus supplement. We may not sell any securities under this prospectus without deliveryregistration of the applicable prospectus supplement.

You should read this documentshares with the U.S. Securities and Exchange Commission. The registration of the shares of our Common Stock does not necessarily mean that any prospectus supplementof such shares will be offered or amendment carefully before you invest in our securities.sold by the selling stockholders.

Our common stockCommon Stock is listed on The NASDAQthe Nasdaq Global Market under the symbol “ZFGN.“LRMR.On August 7, 2017, the closingThe last reported sale price forof our common stock, as reportedCommon Stock on The NASDAQ Global Market,June 25, 2020 was $3.49$14.04 per share. Our principal executive offices are located at 175 Portland Street, 4th Floor, Boston, Massachusetts 02114.

 

 

Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the headingINVESTING IN OUR SECURITIES INVOLVES RISKS. SEE THERisk FactorsRISK FACTORScontained in this prospectus beginning on page 4 and any applicable prospectus supplement, and under similar headings in the other documents that are incorporated by reference into this prospectus.BEGINNING ON PAGE 5 OF THIS PROSPECTUS AND ANY SIMILAR SECTION CONTAINED IN THE APPLICABLE PROSPECTUS SUPPLEMENT OR ANY DOCUMENTS THAT ARE INCORPORATED BY REFERENCE INTO THIS PROSPECTUS BEFORE INVESTING IN OUR SECURITIES

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

The date of this Prospectus is                , 2017.NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

Prospectus dated             , 2020


TABLE OF CONTENTS

 

   Page 

About this ProspectusABOUT THIS PROSPECTUS

   31 

Risk FactorsPROSPECTUS SUMMARY

   42 

Cautionary Statement Regarding Forward-Looking StatementsRISK FACTORS

   5 

The CompanyCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

   6 

Ratio of Earnings to Fixed Charges

7

Use of ProceedsUSE OF PROCEEDS

   8 

Securities We May OfferSELLING STOCKHOLDERS

   9 

Description of Capital StockPLAN OF DISTRIBUTION

   915 

Description of Debt SecuritiesDESCRIPTION OF CAPITAL STOCK

   1317 

Description of WarrantsLEGAL MATTERS

   2621 

Description of UnitsEXPERTS

   2721 

Plan of DistributionWHERE YOU CAN FIND MORE INFORMATION

   3121 

Legal MattersINCORPORATION OF CERTAIN INFORMATION BY REFERENCE

   34

Experts

34

Where You Can Find More Information

34

Incorporation by Reference

3421 

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ABOUT THIS PROSPECTUS

This prospectus is part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or SEC, pursuant to which the SEC, using a “shelf” registration process. Under this shelf registration process, weselling stockholders named herein may, from time to time, offer and sell any combinationor otherwise dispose of the securities describedshares of our common stock covered by this prospectus. If required, each time a selling stockholder offers common stock, in addition to this prospectus, in one or more offerings for an aggregate offering price of up to $150,000,000.

This prospectus provideswe may provide you with a general description of the securities we may offer. Each time we sell securities, we will provide one or more prospectus supplementssupplement that will contain specific information about the terms of thethat offering. TheWe may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to that offering. We may also use a prospectus supplement may alsoand any related free writing prospectus to add, update or change any of the information contained in this prospectus. prospectus or in documents we have incorporated by reference.

You should read bothnot assume that the information contained in this prospectus is accurate on any date subsequent to the date set forth on the front cover of this prospectus or that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference, even though this prospectus is delivered or shares of common stock are sold or otherwise disposed of on a later date. It is important for you to read and consider all information contained in this prospectus, including the accompanying prospectus supplement together withdocuments incorporated by reference therein, in making your investment decision. You should also read and consider the additional information describedin the documents to which we have referred you under the headingcaptions “Where You Can Find MoreAdditional Information” beginning on page 34 ofand “Information Incorporated by Reference” in this prospectus.

You should rely only onNeither we nor the selling stockholders have authorized any dealer, agent or other person to give any information or to make any representation other than those contained in or incorporated by reference in this prospectus and any accompanying prospectus supplement or related free writing prospectus. You must not rely upon any information or representation not contained or incorporated by reference in this prospectus or an accompanying prospectus supplement or related free writing prospectus. This prospectus and any accompanying prospectus supplement or related free writing prospectus, filed by us with the SEC. We have not authorized anyone to provide you with different information. This prospectus and the accompanying prospectus supplementif any, do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the registered securities described in theto which they relate, nor does this prospectus and any accompanying prospectus supplement or related free writing prospectus, if any, constitute an offer to sell or the solicitation of an offer to buy such securities in any circumstances in whichjurisdiction to any person to whom it is unlawful to make such offer or solicitation is unlawful. You should assumein such jurisdiction.

This prospectus incorporates by reference, and any prospectus supplement or free writing prospectus may contain and incorporate by reference, market data and industry statistics and forecasts that are based on independent industry publications and other publicly available information. Although we believe these sources are reliable, we do not guarantee the accuracy or completeness of this information appearingand we have not independently verified this information. In addition, the market and industry data and forecasts that may be included or incorporated by reference in this prospectus, any prospectus supplement or any applicable free writing prospectus may involve estimates, assumptions and other risks and uncertainties and are subject to change based on various factors, including those discussed under the heading “Risk Factors” contained in this prospectus, the applicable prospectus supplement and any applicable free writing prospectus, and under similar headings in other documents that are incorporated by reference into this prospectus. Accordingly, investors should not place undue reliance on this information.

Unless the context otherwise requires, references in this prospectus to “Larimar,” the “Company,” “we,” “our” or “us” refer to Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.) and its subsidiaries, references to “Zafgen” refer to the Company prior to the completion of the Merger, references to “Chondrial” refer to Chondrial Therapeutics, Inc., a privately held corporation prior to the completion of the Merger, and references to “Merger Subsidiary” refer to Zordich Merger Sub, Inc., the Company’s wholly owned subsidiary following the Merger.


PROSPECTUS SUMMARY

This summary description about us and our business highlights selected information contained elsewhere in this prospectus or incorporated by reference into this prospectus. It does not contain all the information you should consider before investing in our securities. You should carefully read the entire prospectus, any applicable prospectus supplement and any related free writing prospectus, is accurate only asincluding the risks of their respective dates. Our business, financial condition, results of operations and prospects may have changed materially since those dates.

Unlessinvesting in our common stock discussed under the context otherwise indicates, referencesheading “Risk Factors” contained in this prospectus, any applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this prospectus. You should also carefully read the information incorporated by reference into this prospectus, including our financial statements, and the exhibits to “Zafgen”, “we”, “our”, “us”the registration statement of which this prospectus forms a part.

The Company

We are a clinical-stage biotechnology company focused on developing treatments for patients suffering from complex rare diseases using our novel cell penetrating peptide technology platform. Our lead product candidate,CTI-1601, is a subcutaneously administered, recombinant fusion protein intended to deliver human frataxin, or FXN, an essential protein, to the mitochondria of patients with Friedreich’s Ataxia. Friedreich’s Ataxia is a rare, progressive and “the Company” refer, collectively,fatal disease in which patients are unable to Zafgen,produce enough FXN due to a genetic abnormality and for which there is currently no effective therapy. We have received orphan drug status, fast track designation, and rare pediatric disease designation from the FDA forCTI-1601.

We are currently evaluatingCTI-1601 in a single ascending dose, or SAD, Phase 1 clinical trial in patients with Friedreich’s Ataxia. The first two cohorts of patients have completed the SAD clinical trial; however, due to the continued impact of coronavirus, orCOVID-19, we have delayed initiation of the next cohort in the SAD clinical trial. We are conducting the clinical trial at one clinical trial site in New Jersey. Because Friedreich’s Ataxia is a rare disease, there are a limited number of patients in close proximity to the clinical trial site and clinical trial patients travel from throughout the United States to the clinical trial site to participate. The travel advisories and risk of infection related toCOVID-19 have presented increased risks to patients traveling to our clinical trial site for dosing. Due to the uncertainty surroundingCOVID-19, we cannot estimate when the next cohort of patients will begin the clinical trial. While top line results from the SAD and the planned multiple ascending dose, or MAD, clinical trials were originally expected by the end of 2020, the delay in the clinical trial timeline caused by the ongoing impact ofCOVID-19 has resulted in top line results being expected in first half of 2021.

We intend to work closely with regulatory authorities in the design of our clinical program forCTI-1601. Regulatory authorities in the United States and European Union have not issued definitive guidance as to how to measure and achieve efficacy in treatments for Friedreich’s Ataxia. As a result, the design and conduct of clinical trials ofCTI-1601 may take longer or be more costly due to the novelty of development in Friedreich’s Ataxia. We may use new or novel endpoints or methodologies, which regulatory authorities may disagree with. Even if applicable regulatory authorities do not object to our proposed endpoints in an earlier stage clinical trial, such regulatory authorities may require evaluation of additional or different clinical endpoints in a later-stage clinical trial.

In addition to its Phase 1 clinical trials, we are also evaluatingCTI-1601 in good laboratory practices, or GLP, toxicology studies, including90-day GLP toxicity studies in rats andnon-human primates, or NHPs. These studies are ongoing and the results of these studies are intended to be used to support the initiation of clinical trials that require the administration ofCTI-1601 for longer than 28 days. During the course of the NHP study, we observed occasional transient rigidity immediately after dosing in certain NHPs. These NHPs required no intervention and the NHPs completed thein-life portion of the study. As this study is ongoing, we and our consultants are conducting additional analysis and awaiting certain results. The results from this study as well as the results from other toxicology studies could affect the timing and design of the development program forCTI-1601.

We are dependent on certain intellectual property licensed from Wake Forest University Health Sciences, or WFUHS, and Indiana University, or IU, for the development and, if approved, commercialization ofCTI-1601.



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The Merger, Reverse Stock Split and Name Change

On May 28, 2020, we completed our business combination with Chondrial Therapeutics, Inc., or Chondrial, in accordance with the terms of the Agreement and Plan of Merger, dated as of December 17, 2019, as amended, or the Merger Agreement, by and among us, Chondrial, a Delaware corporation.

wholly-owned subsidiary of ours, or Merger Sub, and Chondrial Holdings, LLC, or Holdings, the sole stockholder of Chondrial, pursuant to which Merger Sub merged with and into Chondrial, with Chondrial surviving as a wholly-owned subsidiary of ours, or the Merger.

In connection with, and immediately prior to the completion of the Merger, we effected a reverse stock split of our common stock, at a ratio of1-for-12, or the Reverse Stock Split. Under the terms of the Merger Agreement, we issued common stock to Holdings at an exchange ratio of 60,912.5005 shares of common stock, after taking into account the Reverse Stock Split, for each share of Chondrial’s common stock outstanding immediately prior to the Merger. Holdings subsequently distributed the shares of our common stock it received in the Merger to its members. Immediately after the completion of the Merger, we changed our name from “Zafgen, Inc.” to “Larimar Therapeutics, Inc.,” Chondrial was determined to be the accounting acquirer, our historical financials will be those of Chondrial and the business conducted by us became the business conducted by Chondrial. Our global headquarters are located at Three Bala Plaza East, Suite 506, Bala Cynwyd, Pennsylvania 19004.

Pursuant to the Merger Agreement, we agreed to file, no later than 30 days after the closing of the Merger, a registration statement with the SEC covering the resale of the shares acquired by the members of Holdings, or the Members, in connection with the Merger, and to use commercially reasonable efforts to have the registration statement declared effective as soon as practicable after the filing. We also entered into a Registration Rights Agreement, or the Merger Registration Rights Agreement, with the Members pursuant to which we agreed to maintain the effectiveness of the registration statement for a period that will terminate upon the date on which all of the shares of our common stock covered by such registration statement may be sold without restriction or limitation pursuant to Rule 144 of the Securities Act of 1933, as amended, or the Securities Act, and without the requirement to be in compliance with Rule 144(c)(1) (or any successor thereto) promulgated under the Securities Act during any ninety (90) day period, or the Effectiveness Period. This prospectus is part of that registration statement.

The description of the Merger Agreement and the Merger Registration Rights Agreement are not complete and are qualified in their entirety by reference to the Merger Agreement, which has been filed as an exhibit to our Annual Report on Form10-K, filed on March 5, 2020, and to the Merger Registration Rights Agreement, which has been filed as an exhibit to the registration statement of which this prospectus is a part. See “Where You Can Find More Information” and “Information Incorporated by Reference.” The representations, warranties and covenants made by us in such agreements were made solely for the benefit of the parties to such agreements, including, in some cases, for the purpose of allocating risk among the parties thereto, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were made as of an earlier date. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

Private Placement of Common Stock andPre-Funded Warrants

On May 28, 2020, we entered into a Securities Purchase Agreement, or the Purchase Agreement, with certain investors listed therein, or the Investors, which provided for the sale and issuance in a private placement, promptly after the consummation of the Merger, of 6,105,359 shares of our common stock, andpre-funded warrants to purchase an aggregate of 628,403 shares of our common stock, or thePre-Funded Warrants, at a per share purchase price of $11.88 per share of common stock (which price is equal to the closing price of our common stock on May 28, 2020, after taking into account the Reverse Stock Split) and $11.87 perPre-Funded Warrant, or the Private Placement. The aggregate gross proceeds for the sale of the shares of common stock was $80 million, and after deducting certain of our expenses, the net proceeds received by us in the Private Placement was $75.5 million.

Concurrently with the execution of the Purchase Agreement, we entered into a Registration Rights Agreement, or the Private Placement Registration Rights Agreement, pursuant to which we agreed to file, no later than 30 days after the closing of the Private Placement, a registration statement with the SEC covering the resale of the shares sold to the Investors in the Private Placement, and to use commercially reasonable efforts to have the registration statement declared effective as soon as practicable after the filing. This prospectus is part of that registration statement.



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Under the Private Placement Registration Rights Agreement, we also agreed to maintain the effectiveness of the registration statement until the earliest to occur of: (i) the second anniversary of the effective date of the Private Placement Registration Rights Agreement, or (ii) the Effectiveness Period.

The description of the Purchase Agreement and the Private Placement Registration Rights Agreement are not complete and are qualified in their entirety by reference to the Purchase Agreement and the Private Placement Registration Rights Agreement, each of which have been filed as an exhibit to our Current Report on Form8-K filed on June 2, 2020. See “Where You Can Find More Information” and “Information Incorporated by Reference.” The representations, warranties and covenants made by us in such agreements were made solely for the benefit of the parties to such agreements, including, in some cases, for the purpose of allocating risk among the parties thereto, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were made as of an earlier date. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

Description of Placement Agent Shares

MTS Health Partners served as placement agent to us in connection with the Private Placement. As partial compensation for these services, we issued MTS Health Partners 35,260 shares of our common stock. We have agreed to register such shares in connection with the registration statement of which this prospectus is a part.



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RISK FACTORS

Investing in our securities involves a high degree of risk. You should carefully consider the risk factors set forth under “Risk Factors” in (i) our Annual Report on Form10-K for the year ended December 31, 2019, (ii) our Quarterly Report on Form10-Q for the three months ended March 31, 2020 and (iii) our current report on Form8-K/A filed on June 26, 2020, each of which is incorporated by reference in this prospectus, together with all other information contained or incorporated by reference in this prospectus, as updated by our subsequent filings under the Exchange Act, and the risk factors and other information contained in any applicable prospectus supplement, before deciding whether to purchase any of the securities being registered pursuant to the registration statement of which this prospectus is a part. The risks described below and uncertainties we describe in the documents incorporated by reference in this prospectusherein are not the only ones we face. Additional risks and any prospectus supplement,uncertainties not presently known to us could adversely affect our business, operating results and financial condition, as well as other information we include or incorporate by reference into this prospectus and any applicable prospectus supplement, before makingadversely affect the value of an investment decision. Our business, financial condition or results of operations could be materially adversely affected by the materialization of any of these risks. The trading price ofin our securities, could decline due toand the materializationoccurrence of any of these risks andmight cause you mayto lose all or part of your investment.

Risks Related to this Offering

The number of shares being registered for sale is significant in relation to the number of outstanding shares of our Common Stock.

We have filed a registration statement of which this prospectus is a part to register the shares offered hereunder for sale into the public market by the selling stockholders. Upon registration of the shares of common stock offered hereunder, 6,769,022 shares of the common stock registered hereunder may be resold in the public market immediately without restriction. The remaining 6,091,250 shares of the common stock registered hereunder are currently restricted as a result oflock-up agreements but will be freely tradeable 180 days after May 28, 2020, the closing date of the Merger. These shares represent a large number of shares of our common stock, and if sold in the market all at once or at about the same time, could depress the market price of our common stock during the period the registration statement remains effective and could also affect our ability to raise equity capital.

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus and the documents incorporated herein by reference also contain forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described below and in the documents incorporated herein by reference, including (i) our annual report onForm 10-K for the fiscal year ended December 31, 2016, which is on file with the SEC and is incorporated herein by reference, (ii) our quarterly reports on Form10-Q for the quarters ended March 31, 2017 and June 30, 2017, which are on file with the SEC and are incorporated herein by reference, and (iii) other documents we file with the SEC that are deemed incorporated by reference into this prospectus.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This prospectus including the documents that we incorporate by reference, containsmay contain forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act, about us and our subsidiaries. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1934, as amended, or the Exchange Act. Any1995. Forward-looking statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not statements of historical factsfact, and maycan be forward-looking. These statements are often, but are not always, made throughidentified by the use of words or phrasesforward-looking terminology such as “anticipate,“believes,“believe,“expects,“contemplate,“may,“continue,“will,” “could,” “estimate,“should,“expect,“projects,“intend,“plans,“may,“goal,“plan,“targets,” “potential,” “predict,“estimates,“project,“pro forma,“seek,“seeks,“should,” “target,” “will,” “would,” and similar expressions,“intends” or “anticipates” or the negative of these terms,thereof or similar expressions. Accordingly, these statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in them. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout this prospectus, and in particular those factors referenced in the section “Risk Factors.”

This prospectus contains forward-looking statements that are based on our management’s belief and assumptions and on information currently available to our management. These statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.comparable terminology. Forward-looking statements include, but are not limited to, statements about:concerning:

 

the accuracy of

our estimates regarding expenses, future revenues, cash forecastsresults of operations, financial position, research and development costs, capital requirements;requirements and our needs for additional financing;

 

how long we can continue to fund our plans to commercializeZGN-1061 as a treatment for metabolic diseases including type 2 diabetesoperations with our existing cash and obesity;cash equivalents;

 

our ability to realize any value fromCTI-1601 and any other product candidate we may develop in the future and preclinical programs being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully advanceZGN-1061 into later-stage clinical trials;bringing product candidates to market and the risk that products will not achieve broad market acceptance;

 

delays in our anticipated clinical timelines and milestones forCTI-1601 associated withCOVID-19;

uncertainties in obtaining successful clinical results forCTI-1601 or any other product candidate that we may develop in the future and unexpected costs that may result therefrom;

our ability to dissociate effects of methionine aminopeptidase 2, or MetAP2, inhibitors from prothrombotic effects or other adverse events observed in clinical development of beloranib;

comply with regulatory schemes applicable to our ability to provide a compelling argument for improved safety ofZGN-1061business and other novel MetAP2 inhibitors relative to first generation compounds, including beloranib;

regulatory and political developments in the United States and foreign countries;

 

the performanceuncertainties associated with the clinical development and regulatory approval forCTI-1601 or any other product candidate that we may develop in the future, including potential delays in the commencement, enrollment and completion of our third-party contract manufacturers and clinical research organizations;trials;

 

our ability to obtain

the difficulties and maintain intellectual property protectionexpenses associated with obtaining and maintaining regulatory approval for our proprietary assets;CTI-1601 or any other product candidate we may develop in the future, and the indication and labeling under any such approval;

 

the size and growth of the potential markets for ourCTI-1601 or any other product candidates and our ability to serve those markets;

candidate that we may develop in the future, the rate and degree of market acceptance of ourCTI-1601 or any other product candidates for any indication once approved;

candidate that we may develop in the future and our ability to obtain additional financing when needed;serve those markets;

 

the success of competing therapies and products that are or become available for the indications that we are pursuing;available;

 

our ability to obtain and maintain patent protection and defend our intellectual property rights against third-parties;

the performance of third-parties upon which we depend, including third-party contract research organizations, and third-party suppliers, manufacturers, group purchasing organizations, distributors and logistics providers;

our ability to maintain our relationships, profitability and contracts with our key commercial partners;

our ability to recruit or retain key scientific, technical, commercial, and management personnel or to retain our executive officers;

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our ability to comply with stringent U.S. and foreign government regulation in the manufacture of pharmaceutical products, including good manufacturing practice compliance and other relevant regulatory authorities;

our ability to maintain proper functionality and security of our internal computer and information systems and prevent or avoid cyber-attacks, malicious intrusion, breakdown, destruction, loss of key scientificdata privacy or management personnel;other significant disruption; and

 

the other risks, uncertainties and uncertainties, includingfactors discussed under the heading “Risk Factors” in our most recent Proxy Statement on Form DEFM14-A, as revised and supplemented by those listedrisks described from time to time in other reports which we file with the section “Risk Factors.”SEC.

THE COMPANY

We are a biopharmaceutical company dedicated to significantly improving the health and well-being of patients affected by metabolic diseases including type 2 diabetes and obesity. We are focused on developing novel therapeutics that treat the underlying biological mechanisms through the methionine aminopeptidase 2, or MetAP2, pathway. We have pioneered the study of MetAP2 inhibitors in both common and rare forms of obesity. Our lead product candidate isZGN-1061, a novel fumagillin-class MetAP2 inhibitor administered by subcutaneous injection, which is currently being profiled for its utility in the treatment of metabolic diseases including type 2 diabetes and obesity. We have completed a Phase 1 clinical trial ofZGN-1061 in the Netherlands, which was comprised of a single ascending dose, or SAD, portion and a multiple ascending dose, or MAD, portion. This clinical trial evaluatedZGN-1061 for safety, tolerability and pharmacokinetics while also gaining an early indication of efficacy over four weeks of treatment. We reported positive top line results from this clinical trial in May 2017 and presented the full data package at the American Diabetes Association’s 77th Annual Scientific Sessions in June2017. ZGN-1061 demonstrated rapid drug absorption and clearance in line with criteria established in advance for the molecule, and has a favorable safety profile, with no evidence of prothrombotic effects. The data show thatZGN-1061 treatment causes improvements across multiple metabolic measures consistent with MetAP2 inhibition, and patients in the clinical trial experienced mean weight loss of up to approximately one pound per week. We plan to advanceZGN-1061 into a Phase 2 clinical trial in patients with type 2 diabetes who are overweight or obese, in Australia and New Zealand in the third quarter of 2017.

ZGN-1061 acts through potent inhibition of MetAP2, an enzyme that modulates the activity of key cellular processes that control metabolism. MetAP2 inhibitors work, at least in part, by directing MetAP2 binding to cellular stress and growth factor mediators, thereby reducing the tone of signals that drive lipid synthesis by the liver and fat storage throughout the body. In this manner, MetAP2 inhibition serves the purpose ofre-establishing balance to the ways the body stores and metabolizes fat and glucose. MetAP2 inhibitors reduce the production of new fatty acid molecules by the liver and help convert stored fats into useful energy, while reducing hunger. In animal models that mimic aspects of type 2 diabetes, these processes lead to improvement of glycemic control independent of weight loss.

ZGN-1061 was discovered by our researchers as part of a multi-year campaign to identify novel compounds for development in the treatment of type 2 diabetes, and that avoided limitingpre-clinical safety concerns observed with beloranib, including teratogenicity and effects on testicular function. To date, the compound has similar efficacy, potency, and range of activity in animal models as beloranib, but displays highly differentiated properties and improved safety margins inpre-clinical studies, supporting the value of the compound as a more highly optimized MetAP2 inhibitor. Further, the compound displays improved safety margins innon-clinical safety studies relative to beloranib for effects on coagulation in dogs, an effect that correlates with reduced impact on endothelial cell proliferationin vitro.

We own various U.S. federal trademark registrations and applications, and unregistered trademarks, including our corporate name and our corporate logo.

Our principal executive offices are located at 175 Portland Street, 4th Floor, Boston, Massachusetts 02114 and our telephone number is (617)622-4003.

RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our ratio of earnings to fixed charges for the periods shown. You should read this table in conjunction withprospectus and the consolidated financial statements and notesdocuments incorporated by reference completely and with the understanding that our actual future results may be materially different from what we currently expect. Our business and operations are and will be subject to a variety of risks, uncertainties and other factors. Consequently, actual results and experience may materially differ from those contained in any forward-looking statements. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the risk factors discussed under the heading “Risk Factors” contained in this prospectus, any applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this prospectus. We have no shares

You should assume that the information appearing in this prospectus, any accompanying prospectus supplement or related free writing prospectus and any document incorporated herein by reference is accurate as of preferred stock outstandingits date only. Because the risk factors referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by us or on our behalf, you should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made. New factors emerge from time to time, and paid no dividendsit is not possible for us to predict which factors will arise. In addition, we cannot assess the impact of each factor on sharesour business or the extent to which any factor, or combination of preferred stock duringfactors, may cause actual results to differ materially from those contained in any forward-looking statements. Unless legally required, we do not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the periods indicated. Therefore,date of this prospectus or to reflect the ratiosoccurrence of earnings to combined fixed charges and preferred dividends are the same as the ratios of earnings to fixed charges presented below.unanticipated events.

 

   Years Ended
December 31,
  Six
Months
Ended
June 30,
   2016  2015  2014  2017

Ratio of Earnings to Fixed Charges

  N/A  N/A  N/A  N/A

For purposes of calculating the ratios in the table above, earnings consist of net loss before income taxes. Fixed charges include interest expense on indebtedness and an estimate of the interest expense within rental expense.-7-

Due to our net losses for the years ended December 31, 2016, 2015 and 2014 and for the six months ended June 30, 2017, earnings were insufficient to cover fixed charges for such periods and we are unable to disclose a ratio of earnings to fixed charges for such periods. The dollar amount of the deficiency in earnings available for fixed charges for the years December 31, 2016, 2015 and 2014 and for the six months ended June 30, 2017 was approximately $58.2 million, $73.8 million, $35.5 million and $26.8 million, respectively.


USE OF PROCEEDS

We intend to usewill not receive any of the net proceeds from the sale of our common stock by the selling stockholders named in this prospectus. All proceeds from the resale of the shares of our common stock offered by this prospectus will belong to the selling stockholders identified in this prospectus under “Selling Stockholders.”

-8-


SELLING STOCKHOLDERS

This prospectus relates to the sale or other disposition of up to 12,860,272 shares of our common stock by the selling stockholders named below, and their donees, pledgees, transferees or othersuccessors-in-interest selling shares of common stock or interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership distribution or other transfer, collectively, the sellingstockholders. These shares consist of (i) 6,091,250 shares issued to certain of the selling stockholders pursuant to the Merger Agreement; (ii) 6,105,359 shares that were issued to certain of the selling stockholders in the Private Placement; (iii) 628,403 shares that are issuable upon exercise of thePre-Funded Warrants; and (iv) 35,260 shares that were issued as compensation to a placement agent for services rendered to Larimar in connection with the Private Placement. See “Prospectus Summary–The Merger, Reverse Stock Split and Name Change,” “Prospectus Summary–Private Placement of Common Stock andPre-Funded Warrants” and “Prospectus Summary-Description of Placement Agent Compensation.”

The table below sets forth information as of the date of this prospectus, to our knowledge, the selling stockholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Exchange Act and the rules and regulations thereunder) of the shares of common stock held by the selling stockholders. The second column lists the number of shares of common stock beneficially owned by the selling stockholders, as of June 26, 2020. The third column lists the maximum number of shares of common stock that may be sold or otherwise disposed of by the selling stockholders pursuant to the registration statement of which this prospectus forms a part. The selling stockholders may sell or otherwise dispose of some, all or none of their shares. Pursuant to Rules13d-3 and13d-5 of the Exchange Act, beneficial ownership includes any securitiesshares of our common stock as to which a stockholder has sole or shared voting power or investment power, and also any shares of our common stock which the stockholder has the right to acquire within 60 days of June 26, 2020. The percent of beneficial ownership for the selling stockholders is based on 15,356,206 shares of our common stock outstanding as of June 26, 2020 (which does not include the 628,403 shares of common stock issuable upon exercise of thePre-Funded Warrants). Except as described below, to our knowledge, none of the selling stockholders have been an officer or director of ours or of our affiliates within the past three years or had any material relationship with us or our affiliates within the past three years. Our knowledge is based on information provided by the selling stockholders in investor questionnaires in connection with the Merger and Private Placement, as well as information obtained from relevant Schedule 13D and 13G filings.

The shares of common stock being covered hereby may be sold or otherwise disposed of from time to time during the period the registration statement of which this prospectus is a part remains effective, by or for the account of the selling stockholders. After the date of effectiveness, the selling stockholders may have sold or transferred, in transactions covered by this prospectus or in transactions exempt from the registration requirements of the Securities Act, some or all of their common stock.

Information about the selling stockholders may change over time. Any changed information will be set forth in an amendment to the registration statement or supplement to this prospectus, to the extent required by law.

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   Number of Shares of
Common Stock
Owned

Prior to Offering
  

Maximum Number of

   Number of Shares of
Common Stock
Owned

After Offering (1)
 

Name of Selling Stockholder

  Number   Percent  Shares of Common
Stock

to be Sold Pursuant
to this Prospectus
   Number   Percent 

Deerfield Private Design Fund IV

   1,714,852    11.2%(2)   1,714,852   0    0

Deerfield Healthcare Innovation Fund, L.P.

   1,714,850    11.2%(3)   1,714,850   0    0

Deerfield Private Design Fund III, L.P.

   1,714,837    11.2%(4)   1,714,837   0    0

FA Life Sciences Inc.

   159,433    1%(5)   159,433    0    0

CaroleBen-Maimon

   120,215    *(6)   25,083   95,132    *

Steven Plump

   119,832      118,999    833    * 

Mark Payne

   99,270    *(7)   99,270    0    0

Thomas Hamilton

   133,420    *(8)   133,420    0    0

Wake Forest University Health Sciences

   11,263      11,263    0    0

Matt Neff

   25,248      24,373    875    * 

Wake Forest Technology Development Program

   13,013      13,013    0    0

Indiana University Research and Technology Corporation

   2,809      2,809    0    0

Cowen Healthcare Investments II LP

   797,558    5.2%(9)   797,558    0    0

Cowen Healthcare Investments III LP

   1,242,520    8.1%(10)   1,242,520    0    0

CHI EF II LP

   59,676    *(11)   59,676    0    0

CHI EF III LP

   43,797   *(12)   43,797   0    0%

RA Capital Healthcare Fund, L.P.

   1,515,151    9.9%(13)   1,515,151    0    0

Logos Global Master Fund LP

   252,525    1.6%(14)   252,525    0    0

Acuta Capital Fund, LP

   656,942    4.3%(15)   579,545    77,397    

Acuta Opportunity Fund, LP

   154,382    1.0%(16)   135,942    18,440    

Soleus Capital Master Fund, L.P.

   243,836    1.6%(17)   151,515    92,321    

DAFNA Lifescience Select LP

   31,565    *(18)   31,565    0    0

DAFNA Lifescience LP

   94,696    *(18)   94,696    0    0

Altium Growth Fund, LP

   252,525    1.6%(19)   252,525    0    0

OrbiMed Genesis Master Fund, L.P.

   201,637    1.3%(20)   109,427    92,210    

OrbiMed Partners Master Fund Limited

   732,323    4.8%(21)   732,323    0    0

Sio Partners Master Fund, LP

   62,516    *(22)   25,925    36,591    

Compass MAV LLC

   64,676    *(22)   25,757    38,919    

Compass Offshore MAV Limited

   41,388    *(22)   16,498    24,890    

Sio Partners LP

   98,592    *(22)   41,245    57,347    

Reza Keshavarz

   4,208      4,208    0    0

Serrado Opportunity Fund LLC

   16,835    *(23)   16,835    0    0

Vivo Opportunity Fund, L.P.

   653,779    4.3%(24)   653,779    0    0

Vivo Capital Fund IX, L.P.

   145,883    1.0%(25)   145,883    0    0

Janus Henderson Biotech Innovation Master Fund Limited

   154,608    1.0%(26)   154,608    0    0

Janus Henderson Horizon Fund – Biotechnology Fund Care of BNP Paribas RCC

   9,299    *(27)   9,299    0    0

MTS Health Partners

   35,260      35,260    0    0

*

Less than 1%

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(1)

Assumes the sale of all shares offered pursuant to this prospectus.

(2)

Deerfield Mgmt IV, L.P is the general partner of Deerfield Private Design Fund IV, L.P. Deerfield Management Company, L.P. is the investment manager of Deerfield Private Design Fund IV, L.P. Mr. James E. Flynn is the sole member of the general partner of each of Deerfield Mgmt IV, L.P. and Deerfield Management Company, L.P. Deerfield Mgmt IV, L.P., Deerfield Management Company, L.P. and Mr. James E. Flynn may be deemed to beneficially own the securities held by Deerfield Private Design Fund IV, L.P. Jonathan Leff, a partner of Deerfield Management Company, L.P., who served on the Chondrial board of directors since December 2016, was appointed to serve on the Company’s board of directors upon consummation of the Merger and continues to serve in such capacity. Bryan Sendrowski and William Slattery, also partners of Deerfield Management Company, L.P., served on the Chondrial board of directors until the consummation of the Merger. Prior to the Merger, Chondrial was a wholly-owned subsidiary of Holdings. Deerfield Private Design Fund III, L.P., Deerfield Private Design Fund IV, L.P. and Deerfield Healthcare Innovations Fund, L.P. collectively own in excess of 50% of the Series A Preferred Units, Bridge Units and Series B Bridge Units of Holdings. Messrs. Leff, Sendrowski and Slattery serve on the board of managers of Holdings. Prior to the consummation of the Merger, employees of Deerfield Management Company, L.P. provided certain operational support services to, and at time served as officers of, Chondrial and Holdings. The address of Deerfield Private Design Fund IV, L.P. is c/o Deerfield Management Company, L.P., 780 Third Avenue, 37th Floor, New York, NY 10017.

(3)

Deerfield Mgmt HIF, L.P is the general partner of Deerfield Healthcare Innovations Fund, L.P. Deerfield Management Company, L.P. is the investment manager of Deerfield Healthcare Innovations Fund, L.P. Mr. James E. Flynn is the sole member of the general partner of each of Deerfield Mgmt HIF, L.P. and Deerfield Management Company, L.P. Deerfield Mgmt HIF, L.P., Deerfield Management Company, L.P. and Mr. James E. Flynn may be deemed to beneficially own the securities held by Deerfield Healthcare Innovations Fund, L.P. Jonathan Leff, a partner of Deerfield Management Company, L.P., who served on the Chondrial board of directors since December 2016, was appointed to serve on the Company’s board of directors upon consummation of the Merger and continues to serve in such capacity. Bryan Sendrowski and William Slattery, also partners of Deerfield Management Company, L.P., served on the Chondrial board of directors until the consummation of the Merger. Prior to the Merger, Chondrial was a wholly-owned subsidiary of Holdings. Deerfield Private Design Fund III, L.P., Deerfield Private Design Fund IV, L.P. and Deerfield Healthcare Innovations Fund, L.P. collectively own in excess of 50% of the Series A Preferred Units, Bridge Units and Series B Bridge Units of Holdings. Messrs. Leff, Sendrowski and Slattery serve on the board of managers of Holdings. Prior to the consummation of the Merger, employees of Deerfield Management Company, L.P. provided certain operational support services to, and at time served as officers of, Chondrial and Holdings. The address of Deerfield Healthcare Innovations Fund, L.P. is c/o Deerfield Management Company, L.P., 780 Third Avenue, 37th Floor, New York, NY 10017.

(4)

Deerfield Mgmt III, L.P is the general partner of Deerfield Private Design Fund III, L.P. Deerfield Management Company, L.P. is the investment manager of Deerfield Private Design Fund III, L.P. Mr. James E. Flynn is the sole member of the general partner of each of Deerfield Mgmt III, L.P. and Deerfield Management Company, L.P. Deerfield Mgmt III, L.P., Deerfield Management Company, L.P. and Mr. James E. Flynn may be deemed to beneficially own the securities held by Deerfield Private Design Fund III, L.P. Jonathan Leff, a partner of Deerfield Management Company, L.P., who served on the Chondrial board of directors since December 2016, was appointed to serve on the Company’s board of directors upon consummation of the Merger and continues to serve in such capacity. Bryan Sendrowski and William Slattery, also partners of Deerfield Management Company, L.P., served on the Chondrial board of directors until the consummation of the Merger. Prior to the Merger, Chondrial was a wholly-owned subsidiary of Holdings. Deerfield Private Design Fund III, L.P., Deerfield Private Design Fund IV, L.P. and Deerfield Healthcare Innovations Fund, L.P. collectively own in excess of 50% of the Series A Preferred Units, Bridge Units and Series B Bridge Units of Holdings. Messrs. Leff, Sendrowski and Slattery serve on the board of managers of Holdings. Prior to the consummation of the Merger, employees of Deerfield Management Company, L.P. provided certain operational support services to, and at time served as officers of, Chondrial and Holdings. The address of Deerfield Private Design Fund III, L.P. is c/o Deerfield Management Company, L.P., 780 Third Avenue, 37th Floor, New York, NY 10017.

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(5)

The shares directly held by FA Life Sciences Inc. are indirectly beneficially owned by Thomas Hamilton, a member of our Board of Directors and the board of managers of Holdings, its managing member. Tom Hamilton disclaims beneficial ownership of the shares held by Friedreich’s Ataxia Life Sciences except to the extent of his pecuniary interest therein. The business address for Friedreich’s Ataxa Life Sciences is 211 Stuyvesant Ave., Rye, NY 10580.

(6)

Includes 95,132 shares of common stock issuable upon exercise of an equal number of options that are currently exercisable or will be exercisable within 60 days of June 26, 2020. CaroleBen-Maimon is our President and Chief Executive Officer and a member of our Board of Directors, and serves as President and Chief Executive Officer and as a member of the board of managers of Holdings. Prior to the Merger, Dr. Ben-Maimon was the President and Chief Executive Officer of Chondrial.

(7)

Mark Payne was a co-founder of Chondrial and previously served as its Chief Scientific Officer. Mr. Payne is also a member of the board of managers of Holdings.

(8)

Mr. Hamilton is a member of our Board of Directors and serves as a member of the board of managers of Holdings.

(9)

Consists of (i) 132,579 shares of common stock distributed in connection with the Merger, (ii) 430,812 shares of common stock issued in the Private Placement, and (iii) 234,167 shares of common stock issuable upon exercise of aPre-Funded Warrant that was issued in the Private Placement. CHI Advisors LLC is the investment manager of Cowen Healthcare Investments II LP and has voting and investment power with respect to the securities held by Cowen Healthcare Investments II LP. Under the terms of thePre-Funded Warrant, Cowen Healthcare Investments II LP is prohibited from exercising such warrant if exercise would cause the number of shares then owned by Cowen Healthcare Investments II LP and its affiliates to exceed 9.99% of the total number of shares of the Company’s common stock then outstanding, or the Ownership Cap. Accordingly, Cowen Healthcare Investments II LP and CHI Advisors LLC disclaim beneficial ownership of the shares of common stock issuable upon exercise of thePre-Funded Warrant to the extent that upon such exercise the number of shares beneficially owned by Cowen Healthcare Investments II LP and its affiliates, in the aggregate, would exceed the Ownership Cap. The business address for Cowen Healthcare Investments II LP is c/o CHI Advisors LLC, 599 Lexington Avenue, 19th Floor, New York, New York 10022.

(10)

Consists of (i) 200,989 shares of common stock distributed in connection with the Merger, (ii) 674,763 shares of common stock issued in the Private Placement, and (iii) 366,768 shares of common stock issuable upon exercise of aPre-Funded Warrant that was issued in the Private Placement. CHI Advisors LLC is the investment manager of Cowen Healthcare Investments III LP and has voting and investment power with respect to the securities held by Cowen Healthcare Investments III LP. Under the terms of thePre-Funded Warrant, Cowen Healthcare Investments III LP is prohibited from exercising such warrant if exercise would cause the number of shares then owned by Cowen Healthcare Investments III LP and its affiliates to exceed the Ownership Cap. Accordingly, Cowen Healthcare Investments III LP and CHI Advisors LLC disclaim beneficial ownership of the shares of common stock issuable upon exercise of thePre-Funded Warrant to the extent that upon such exercise the number of shares beneficially owned by Cowen Healthcare Investments III LP and its affiliates, in the aggregate, would exceed the Ownership Cap. The business address for Cowen Healthcare Investments III LP is c/o CHI Advisors LLC, 599 Lexington Avenue, 19th Floor, New York, New York 10022.

(11)

Consists of (i) 10,850 shares of common stock distributed in connection with the Merger, (ii) 31,632 shares of common stock issued in the Private Placement, and (iii) 17,194 shares of common stock issuable upon exercise of aPre-Funded Warrant that was issued in the Private Placement. CHI Advisors LLC is the investment manager of CHI EF II LP and has voting and investment power with respect to the securities held by CHI EF II LP. Under the terms of thePre-Funded Warrant, CHI EF II LP is prohibited from exercising such warrant if exercise would cause the number of shares then owned by CHI EF II LP and its affiliates to exceed the Ownership Cap. Accordingly, CHI EF II LP and CHI Advisors LLC disclaim beneficial ownership of the shares of common stock issuable upon exercise of thePre-Funded Warrant to the extent that upon such exercise the number of shares beneficially owned by CHI EF II LP and its affiliates, in the aggregate, would exceed the Ownership Cap. The business address for CHI EF II LP is c/o CHI Advisors LLC, 599 Lexington Avenue, 19th Floor, New York, New York 10022.

(12)

Consists of (i) 14,622 shares of common stock distributed in connection with the Merger, (ii) 18,901 shares of common stock issued in the Private Placement, and (iii) 10,274 shares of common stock issuable upon exercise of aPre-Funded Warrant that was issued in the Private Placement. CHI Advisors LLC is the investment manager of CHI EF III LP and has voting and investment power with respect to the securities held by CHI EF III LP. Under the terms of thePre-Funded Warrant, CHI EF III LP is prohibited from exercising such warrant if exercise would cause

-12-


the number of shares then owned by CHI EF III LP and its affiliates to exceed the Ownership Cap. Accordingly, CHI EF III LP and CHI Advisors LLC disclaim beneficial ownership of the shares of common stock issuable upon exercise of thePre-Funded Warrant to the extent that upon such exercise the number of shares beneficially owned by CHI EF III LP and its affiliates, in the aggregate, would exceed the Ownership Cap. The business address for CHI EF III LP is c/o CHI Advisors LLC, 599 Lexington Avenue, 19th Floor, New York, New York 10022.
(13)

RA Capital Management, L.P., or RA Capital, is the investment adviser of the RA Healthcare Fund, L.P., or RA Healthcare Fund. The general partner of RA Capital is RA Capital Management GP, LLC, or RA Capital GP, of which Peter Kolchinsky, Ph.D. and Rajeev Shah are the managing members. RA Capital Healthcare Fund GP, LLC is the general partner of RA Healthcare Fund. RA Healthcare Fund has delegated to RA Capital voting and investment power over the shares held by RA Healthcare Fund. The business address for RA Healthcare Fund is c/o RA Capital Management, L.P., 200 Berkeley Street, 18th Floor, Boston, Massachusetts 02116.

(14)

Logos GP LLC is the general partner of Logos Global Master Fund LP. Logos Global Management, L.P. is the investment advisor of Logos Global Master Fund LP. The voting members of Logos GP LLC are Arsani William, Graham Walmsley, Edward Zhong and Yanni Souroutzidis, none of whom has individual voting or investment power with respect to these shares of common stock and each of whom disclaims beneficial ownership of such shares except to the extent of his or her pecuniary interests therein. The business address for Logos Global Master Fund LP is 1 Letterman Drive, Building D, SuiteD3-700, San Francisco, California 94129.

(15)

Acuta Capital Partners, LLC is the general partner of Acuta Capital Fund, LP. Anupam Dalal is the Chief Investment Officer and Manfred Yu is the Manager of Acuta Capital Partners, LLC. Both Mr. Dalal and Mr. Yu have voting and investment authority over all of the shares held by Actual Capital Fund, LP. Each of Acuta Capital Partners, LLC, Mr. Dalal and Mr. Yu disclaims beneficial ownership of the shares of common stock held by Acuta Capital Fund, LP except to the extent of their pecuniary interest therein. The business address for Acuta Capital Fund, LP is c/o Acuta Capital Partners, LLC, 1301 Shoreway Road, Suite 350, Belmont, California 94002.

(16)

Acuta Capital Partners, LLC is the general partner of Acuta Opportunity Fund, LP. Anupam Dalal is the Chief Investment Officer and Manfred Yu is the Manager of Acuta Capital Partners, LLC. Both Mr. Dalal and Mr. Yu have voting and investment authority over all of the shares held by Actual Opportunity Fund, LP. Each of Acuta Capital Partners, LLC, Mr. Dalal and Mr. Yu disclaims beneficial ownership of the shares of common stock held by Acuta Opportunity Fund, LP except to the extent of their pecuniary interest therein. The business address for Acuta Opportunity Fund, LP is c/o Acuta Capital Partners, LLC, 1301 Shoreway Road, Suite 350, Belmont, California 94002.

(17)

The shares reflected as beneficially owned by Soleus Capital Master Fund, L.P., or Soleus Master Fund, in the table above. Mr. Guy Levy is the sole managing member of Soleus Capital Group, LLC, or Soleus Group, which is the sole managing member of Soleus Capital, LLC, together with Soleus Group, the Soleus Funds, which is the general partner of Soleus Master Fund. Accordingly, Mr. Levy and Soleus Funds may be deemed the beneficial owners of shares of common stock held by Soleus Master Fund. Each of Mr. Levy and Soleus Funds disclaims beneficial ownership of shares held by any of the entities named herein pursuant to Rule13d-4 under the Exchange Act. The business address for Soleus Master Fund is 104 Field Point Road, 2nd Floor, Greenwich, Connecticut 06830.

(18)

DAFNA Capital Management, LLC is the sole general partner of DAFNA Lifescience LP and DAFNA Lifescience Select LP, collectively, the DAFNA Funds. Nathan Fischel is the Chief Executive Officer and Fariba Ghodsian is the Chief Investment Officer of DAFNA Capital Management LLC and they may be deemed to have shared voting and investment power with respect to the securities held by the DAFNA Funds. Each of Dr. Fischel and Dr. Fariba disclaim beneficial ownership of such shares, except to the extent of his or her pecuniary interest therein. The address for DAFNA Lifescience LP and DAFNA Lifescience Select LP is c/o DAFNA Capital Management, 10990 Wilshire Boulevard, Suite 1400, Los Angeles, California 90024.

(19)

Altium Capital Management, LP, the investment manager of Altium Growth Fund, LP, has voting and investment power over these securities. Jacob Gottlieb is the managing member of Altium Capital Growth GP, LLC, which is the general partner of Altium Growth Fund, LP. Each of Altium Growth Fund, LP and Jacob Gottlieb disclaims beneficial ownership over these securities. The business address for Altium Growth Fund, LP is 152 West 57th Street, Floor 20, New York, New York 10019.

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(20)

OrbiMed Genesis GP LLC, or Genesis GP, is the general partner of OrbiMed Genesis Master Fund, L.P. OrbiMed Advisors LLC, or OrbiMed Advisors, is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting and investment power over the securities held by OrbiMed Genesis Master Fund, L.P. and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the shares held by OrbiMed Genesis Master Fund, L.P. The business address for OrbiMed Genesis Master Fund, L.P. is c/o OrbiMed Advisors LLC, 601 Lexington Avenue, 54th Floor, New York, NY 10022.

(21)

OrbiMed Capital LLC, or OrbiMed Capital, is the investment advisor for OrbiMed Partners Master Fund Limited. OrbiMed Capital is a relying advisor of OrbiMed Advisors. OrbiMed Advisors and OrbiMed Capital exercise voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the shares held by OrbiMed Partners Master Fund Limited. The business address for OrbiMed Partners Master Fund Limited is c/o OrbiMed Advisors LLC, 601 Lexington Avenue, 54th Floor, New York, NY 10022.

(22)

Sio Capital Management, LLC, or Sio Capital Management, is the investment manager of Sio Partners LP, Sio Partners Master Fund LP, Compass MAV LLC and Compass Offshore MAV Limited. Sio GP LLC, or Sio GP, is the general partner of Sio Partners LP and Sio Partners Master Fund LP. Michael Castor is the managing member of Sio Capital Management and Sio GP. Each of Sio Capital Management, Sio GP and Michael Castor disclaims beneficial ownership over the shares of common stock held by each of Sio Partners LP, Sio Partners Master Fund LP, Compass MAV LLC and Compass Offshore MAV Limited, respectively. The business address of Sio Partners LP, Sio Partners Master Fund LP, Compass MAV LLC and Compass Offshore MAV Limited is c/o Sio Capital Management, LLC, 600 Third Avenue, 2nd Floor, New York, New York 10016.

(23)

Serrado Capital LLC, or Serrado Capital, is the investment manager of Serrado Opportunity Fund LLC. Stewart J. Hen is the managing member of Serrado Capital. Serrado Capital and Mr. Hen exercise voting and investment power with respect to the securities held by Serrado Opportunity Fund LLC. Each of Serrado Capital and Mr. Hen disclaims beneficial ownership over the shares of common stock held by Serrado Opportunity Fund LLC except to the extent of its or his pecuniary interest therein. The business address of Serrado Opportunity Fund LLC is 25 North Moore Street, #15A, New York, New York 10013.

(24)

Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund, L.P. The voting members of Vivo Opportunity, LLC are Albert Cha, Gaurav Aggarwal, Shan Fu, Frank Kung and Michael Chang, none of whom has individual voting or investment power with respect to these shares of common stock and each of whom disclaims beneficial ownership of such shares except to the extent of his pecuniary interests therein. The business address for Vivo Opportunity Fund, L.P. is c/o Vivo Capital LLC, 192 Lytton Avenue, Palo Alto, California 94301.

(25)

Vivo Capital IX, LLC is the general partner of Vivo Capital Fund IX, L.P. The voting members of Vivo Capital IX, LLC are Frank Kung, Albert Cha, Edgar Engleman, Chen Yu and Shan Fu, none of whom has individual voting or investment power with respect to these shares of common stock and each of whom disclaims beneficial ownership of such shares except to the extent of his pecuniary interests therein. The business address for Vivo Capital Fund IX, L.P. is c/o Vivo Capital LLC, 192 Lytton Avenue, Palo Alto, California 94301.

(26)

Janus Capital Management LLC, or Janus Capital Management, is the investment adviser to Janus Henderson Biotech Innovation Master Fund Limited. Janus Capital Management may be deemed to have voting and dispositive power over the shares held by Janus Henderson Biotech Innovation Master Fund Limited. The business address of Janus Henderson Biotech Innovation Master Fund Limited is c/o Janus Capital Management LLC, 151 Detroit Street, Denver, Colorado 80206.

(27)

Janus Capital Management is the investment adviser to Janus Henderson Horizon Fund – Biotechnology Fund. Janus Capital Management may be deemed to have voting and dispositive power over the shares held by Janus Henderson Horizon Fund – Biotechnology Fund. The business address of Janus Henderson Horizon Fund – Biotechnology Fund Care of BNP Paribas RCC is 151 Detroit Street, Denver, Colorado 80206.

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PLAN OF DISTRIBUTION

The selling stockholders, which as used herein includes donees, pledgees, transferees or othersuccessors-in-interest selling shares of common stock or interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.

The selling stockholders may use any one or more of the following methods when disposing of shares or interests therein:

ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

block trades in which the broker-dealer will attempt to sell the shares as agent, but may position and resell a portion of the block as principal to facilitate the transaction;

purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

an exchange distribution in accordance with the rules of the applicable exchange;

privately negotiated transactions;

short sales effected after the date the registration statement of which this prospectus is a part is declared effective by the SEC;

through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share;

a combination of any such methods of sale; and

any other method permitted by applicable law.

The selling stockholders may, from time to time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock, from time to time, under this prospectus, or under an amendment or supplement to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for general corporate purposes unless otherwise indicatedof this prospectus.

In connection with the sale of our common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the applicablecourse of hedging the positions they assume. The selling stockholders may also sell shares of our common stock short and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, supplement. General corporate purposeswhich shares such broker-dealer or other financial institution may include research and development costs, potential strategic acquisitions of complementary businesses, servicesresell pursuant to this prospectus (supplemented or technologies, repayment and refinancing of debt, general and administrative costs, working capital and capital expenditures. We may temporarily invest the net proceeds in a variety of capital preservation instruments, including investment grade, interest bearing instruments and U.S. government securities, until they are used for their stated purpose. We have not determined the amount of netamended as necessary to reflect such transaction).

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The aggregate proceeds to be used specifically for such purposes. As a result, management will retain broad discretion over the allocation of net proceeds.

SECURITIES WE MAY OFFER

This prospectus contains summary descriptionsselling stockholders from the sale of the securities we may offercommon stock offered by them will be the purchase price of the common stock less discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together with their agents from time to time. These summary descriptions are not meanttime, to reject, in whole or in part, any proposed purchase of common stock to be complete descriptionsmade directly or through agents. We will not receive any of each security. the proceeds from this offering. Upon any exercise of the Pre-Funded Warrants by payment of cash, however, we will receive the exercise price of the warrants.

The particular termsselling stockholders also may resell all or a portion of the shares in open market transactions in reliance upon Rule 144 under the Securities Act.

The selling stockholders and any underwriters, broker-dealers or agents that participate in the sale of the common stock or interests therein may be deemed to be “underwriters” within the meaning of Section 2(11) of the Securities Act. Any discounts, commissions, concessions or profit they earn on any resale of the shares may be underwriting discounts and commissions under the Securities Act.

To the extent required, the shares of our common stock to be sold, the names of the selling stockholders, the respective purchase prices and public offering prices, the names of any securityagents, dealer or underwriter, any applicable commissions or discounts with respect to a particular offer will be describedset forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus.

In order to comply with the securities laws of some states, if applicable, the common stock may be sold in these jurisdictions only through registered or licensed brokers or dealers.

We have advised the selling stockholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the market and to the activities of the selling stockholders and their Affiliates. In addition, to the extent applicable we will make copies of this prospectus supplement.(as it may be supplemented or amended from time to time) available to the selling stockholders for the purpose of satisfying any prospectus delivery requirements of the Securities Act. The selling stockholders may indemnify any broker-dealer that participates in transactions involving the sale of the shares against certain liabilities, including liabilities arising under the Securities Act.

We have agreed to indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the registration of the shares offered by this prospectus.

We have agreed with the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earlier of (1) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with such registration statement or (2) the date on which all of the shares may be sold by the selling stockholders without restriction (including any current public information requirement) pursuant to Rule 144 of the Securities Act.

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DESCRIPTION OF CAPITAL STOCK

The following description of our common stock and preferred stock together with the additional information we include in any applicable prospectus supplements, summarizes the material terms and provisions of theour common stock and preferred stock that we may offer under this prospectus.stock. The following description of our capital stock does not purport to be complete and is subject to, and qualified in its entirety by, our ninth amended and restated certificate of incorporation, orreferred to in this section as the Charter, and our amended and restated bylaws, orby-laws, as may be amended, referred to in this section as the Bylaws, which are exhibitsincorporated by reference to Exhibits 3.1 and 3.2, respectively, of our Annual Report on Form10-K for the registration statement of which this prospectus forms a part,year ended December 31, 2019 as filed with the SEC on March 5, 2020 and by applicable law.law, and does not include changes resulting from the amendments to our Charter to effect a name change to Larimar Therapeutics, Inc. and to effect the Reverse Split (as defined below). The terms of our common stock and preferred stock may also be affected by Delaware law.

Common Stock

Authorized Capital Stock

. Our authorized capital stock consists of (i) 115,000,000 shares of common stock, par value $0.001 per share, of which 15,354,335 shares have been issued and are outstanding as of June 26, 2020, referred to as the capitalization date, and (ii) 5,000,000 shares of preferred stock, par value $0.001 per share. Asshare, of August 7, 2017, we had 27,483,925which no shares have been issued and are outstanding as of the capitalization date. We do not hold any shares of commonour capital stock outstanding and no shares of preferred stock outstanding.in its treasury.

Common Stock

Voting Rights. Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders andstockholders. The holders of our common stock do not have any cumulative voting rights.

Dividends. Holders of our common stock are entitled to receive ratably any dividends declared by the boardour Board of directorsDirectors, or Board, out of funds legally available for that purpose, subject to any preferential dividend rights of any outstanding preferred stock.

No Preemptive or Similar Rights. Our common stock has no preemptive rights, conversion rights or other subscription rights or redemption or sinking fund provisions. In the event of oura liquidation, dissolution or winding up of us, holders of our common stock will be entitled to share ratably in all assets remaining after payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock. All outstanding shares are fully-paid andnon-assessable.

Listing

Our common stock is listed on The NASDAQ Global Market under the symbol “ZFGN.” On August 7, 2017, the closing price for our common stock, as reported on The NASDAQ Global Market, was $3.49 per share.

Transfer Agent and Registrar

. The transfer agent and registrar for our common stock is Computershare Trust Company, N.A.

Listing. Our common stock is listed on The Nasdaq Global Market under the symbol “LRMR.” On June 25, 2020, the last reported sale price of our common stock on The Nasdaq Global Market was $14.04 per share. As of June 26, 2020, we had approximately 55 stockholders of record.

Reverse Split

On May 28, 2020, we filed an amendment to our Charter in order to effect a1-for-12 reverse stock split of our common stock, or the Reverse Split, effective for trading purposes on May 29, 2020. The number of authorized stock remained unchanged at 120,000,000 shares.

Preferred Stock

Our board of directors is authorizedBoard currently has the authority, without further action by our stockholders, to issue up to 5,000,000 shares of preferred stock in one or more series without stockholder approval. Our board of directors may determineand to fix the rights, preferences, privileges and restrictions including votingthereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, privileges and liquidation preferences, of each series of preferred stock.

The purpose of authorizing our board of directors to issue preferred stock in one or more seriessinking fund terms and determine the number of shares inconstituting, or the designation of, such series, and itsany or all of which may be greater than the rights and preferences is to eliminate delays associated with a stockholder vote on specific issuances. Examples of rights and preferences that the board of directors may fix are:

dividend rights;

dividend rates;

conversion rights;

voting rights;

terms of redemption; and

liquidation preferences.

common stock. The existence of authorized but unissued sharesissuance of preferred stock may enable our board of directors to render more difficult or to discourage an attempt to obtain control ofby us by means of a merger, tender offer, proxy contest or otherwise. For example, if in the due exercise of its fiduciary obligations, our board of directors were to determine that a takeover proposal is not in the best interests of us or our stockholders, our board of directors could cause shares of preferred stock to be issued without stockholder approval in one or more private offerings or other transactions that might diluteadversely affect the voting or other rights of the proposed acquirer, stockholder or stockholder group. The rightspower of holders of our common stock described above,and the likelihood that such holders will be subject to,receive dividend payments and may be adversely affected by,payments upon a liquidation of us. In addition, the rights of any preferred stock that we may designate and issue in the future. The issuance of shares of preferred stock could decrease the amount of earnings and assets available for distribution to holders of shares of common stock. The issuance may also adversely affect the rights and powers, including voting rights, of these holders and may have the effect of delaying, deterringdeferring or preventing a change in control of us.

We will incorporate by reference as an exhibit to the registration statement, which includes this prospectus, the form of any certificate of designation that describes the terms of the series of preferred stock we are offering. This description and the applicable prospectus supplement will include:

the title and stated value;

the number of shares authorized;

the liquidation preference per share;

the purchase price;

the dividend rate, period and payment date, and method of calculation for dividends;

whether dividends will be cumulative ornon-cumulative and, if cumulative, the date from which dividends will accumulate;

the procedures for any auction and remarketing, if any;

the provisions for a sinking fund, if any;

the provisions for redemption or repurchase, if applicable, and any restrictions on our ability to exercise those redemption and repurchase rights;

any listing of the preferred stock on any securities exchange or market;

whether the preferred stock will be convertible into our common stock, and, if applicable, the conversion price, or how it will be calculated, and the conversion period;

whether the preferred stock will be exchangeable into debt securities, and, if applicable, the exchange price, or how it will be calculated, and the exchange period;

voting rights, if any, of the preferred stock;

preemptive rights, if any;

restrictions on transfer, saleus or other assignment, if any;

whether interests in the preferred stock will be represented by depositary shares;

a discussion of any material United States federal income tax considerations applicable to the preferred stock;

the relative ranking and preferences of the preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs;

any limitations on issuance of any class or series of preferred stock ranking senior to or on a parity with the series of preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs; and

any other specific terms, preferences, rights or limitations of, or restrictions on, the preferred stock.

When we issuecorporate action. No shares of preferred stock under this prospectus,are outstanding, and we have no present plans to issue any shares of preferred stock.

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Warrants

In connection with the Private Placement, we issued and soldpre-funded warrants to purchase 628,403 shares of our common stock, or thePre-Funded Warrants, to certain investors, or the Investors. ThePre-Funded Warrants are exercisable immediately upon issuance at an exercise price of $0.01 and will be exercisable indefinitely. The Investors may exercise thePre-Funded Warrants on a cashless basis in the event that there is no effective registration statement covering the resale of the shares of our common stock underlying thePre-Funded Warrants, or the Warrant Shares, on the date in which we are required to deliver the shares.

ThePre-Funded Warrants may not be exercised by the holder to the extent that the holder would beneficially own, after such exercise 9.99% of the shares of our common stock then outstanding (subject to the right of the holder to increase or decrease such beneficial ownership limitation upon notice to us, provided that such limitation cannot exceed 19.99%) and provided that any increase in the beneficial ownership limitation shall not be effective until 61 days after such notice is delivered.

Registration Rights

Shortly after the Merger we entered into a Registration Rights Agreement, or Merger Registration Rights Agreement, with the members of Chondrial Holdings, LLC pursuant to which we have agreed that promptly, but no later than 30 calendar days from the closing of the Merger, we will fully be paidfile a registration statement with the SEC covering the shares of common stock issued to Chondrial Holdings, LLC in exchange for all of the shares of common stock of Chondrial Therapeutics, Inc. and nonassessablesubsequently distributed to its members. We will use our commercially reasonable efforts to ensure that the such registration statement is declared effective as soon as practicable after the filing. In addition, the Merger Registration Rights Agreement also provides the members of Chondrial Holdings, LLC with demand and will not have, or be“piggy-back” registration rights, subject to any preemptivecertain minimum requirements and customary conditions.

In connection with the Private Placement, we entered into a Registration Rights Agreement, or similar rights.the Private Placement Registration Rights Agreement, and collectively with the Merger Registration Rights Agreement, the Registration Rights Agreements, with our investors pursuant to which we have agreed that promptly, but no later than 30 calendar days from the final closing of the Private Placement, we will file a registration statement with the SEC covering (a) the shares of common stock issued in the Offering and (b) the shares of common stock underlying thePre-Funded Warrants issued in the Private Placement. We will use our commercially reasonable efforts to ensure that such registration statement is declared effective as soon as practicable after the filing.

These registration rights granted under the Registration Rights Agreements are subject to certain conditions, including our right to delay or withdraw a registration statement under certain circumstances. The registration rights granted in the Registration Rights Agreements are also subject to customary indemnification and contribution provisions.

Provisions of ourOur Charter and Bylaws and Delaware Anti-Takeover Law

Certain provisions of the Delaware General Corporation Law, or DGCL, and of our Charter and Bylaws could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and, as a consequence, they might also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions are also designed in part to encourage anyone seeking to acquire control of us or considering unsolicited tender offers or other unilateral takeover proposals to first negotiate with our board of directors rather than pursuenon-negotiated takeover attempts.Board. These provisions might also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders might otherwise deem to be in their best interests. However, we believe that the advantages gained by protecting our ability to negotiate with any unsolicited and potentially unfriendly acquirer outweigh the disadvantages of discouraging such proposals, including those priced above the then-current market value of our common stock, because, among other reasons, the negotiation of such proposals could improve their terms.

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Board Composition and Filling Vacancies. Our Charter provides for the division of our board of directorsBoard into three classes serving staggered three-year terms, with one class being elected each year. Our Charter also provides that directors may be removed only for cause and then only by the affirmative vote of the holders of 75% or more of the shares then entitled to vote at an election of directors. Furthermore, any vacancy on our board of directors,Board, however occurring, including a vacancy resulting from an increase in the size of our board,Board, may only be filled by the affirmative vote of a majority of our directors then in office even if less than a quorum.

No Written Consent of Stockholders. Our Charter provides that all stockholder actions are required to be taken by a vote of the stockholders at an annual or special meeting, and that stockholders may not take any action by written consent in lieu of a meeting.

Meetings of Stockholders. Our Charter and Bylaws provide that only a majority of the members of our board of directorsBoard then in office may call special meetings of stockholders and only those matters set forth in the notice of the special meeting may be considered or acted upon at a special meeting of stockholders. Our Bylaws limit the business that may be conducted at an annual meeting of stockholders to those matters properly brought before the meeting.

Advance Notice Requirements.Requirements. Our Bylaws establish advance notice procedures with regard to stockholder proposals relating to the nomination of candidates for election as directors or new business to be brought before meetings of our stockholders. These procedures provide that notice of stockholder proposals must be timely given in writing to our corporate secretary prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be received at our principal executive offices not less

than 90 days nor more than 120 days prior to the first anniversary date of the annual meeting for the preceding year. Our Bylaws specify the requirements as to form and content of all stockholders’ notices.

Amendment to Charter and Bylaws. As required by the Delaware General Corporation Law,DGCL, any amendment of our Charter must first be approved by a majority of our board of directors,Board, and if required by law or our Charter, must thereafter be approved by a majority of the outstanding shares entitled to vote on the amendment and a majority of the outstanding shares of each class entitled to vote thereon as a class, except that the amendment of the provisions relating to stockholder action, board composition, limitation of liability and the amendment of our Charter must be approved by not less than 75% of the outstanding shares entitled to vote on the amendment, and not less than 75% of the outstanding shares of each class entitled to vote thereon as a class. Our Bylaws may be amended by the affirmative vote of a majority of the directors then in office, subject to any limitations set forth in the Bylaws; and may also be amended by the affirmative vote of at least 75% of the outstanding shares entitled to vote on the amendment, or, if our board of directorsBoard recommends that the stockholders approve the amendment, by the affirmative vote of the majority of the outstanding shares entitled to vote on the amendment, in each case voting together as a single class.

As a Delaware Anti-Takeover Law

Wecorporation, we are also subject to the provisions of Delaware law, including Section 203 of the Delaware General Corporation Law.DGCL. In general, Section 203 prohibits a publicly-heldpublicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates, owns, or did own within three years prior to the determination of interested stockholder status, 15% or more of the corporation’s voting stock. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

 

before the stockholder became interested, the board of directors approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

 

upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances;instances, but not the outstanding voting stock owned by the interested stockholder; or

 

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at or after the time the stockholder became interested, the business combination was approved by the board of directors of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative vote of at leasttwo-thirds of the outstanding voting stock which is not owned by the interested stockholder.

Exclusive JurisdictionSection 203 defines a business combination to include:

any merger or consolidation involving the corporation and the interested stockholder;

any sale, transfer, lease, pledge or other disposition involving the interested stockholder of Certain Actions. Our Charter provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery10% or more of the State of Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our stockholders, (iii) any action asserting a claim arising pursuant to any provisionassets of the Delaware General Corporation Law, our Chartercorporation any conflicts or our Bylaws, or (iv) any action asserting a claim against us governed by the internal affairs doctrine. Although we believe this provision benefits us by providing increased consistency in the applicationviolations of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against our directors and officers. The enforceability of similar exclusive forum provisions in other companies’ certificates of incorporation has been challenged in legal proceedings, and it is possible that a court could rule that this provision in our Charter is inapplicable or unenforceable.

DESCRIPTION OF DEBT SECURITIES

The paragraphs below describe the general terms and provisions of the debt securities we may issue. When we offer to sell a particular series of debt securities, we will describe the specific terms of the securities in a supplement to this prospectus, including any additional covenants or changes to existing covenants relating to such series. The prospectus supplement also will indicate whether the general terms and provisions described in this prospectus apply to a particular series of debt securities. You should read the actual indenture if you do not fully understand a term or the way we use it in this prospectus.

We may offer senior or subordinated debt securities. Each series of debt securities may have different terms. The senior debt securities will be issued under one or more senior indentures, dated as of a date prior to such issuance, between us and the trustee identified in the applicable prospectus supplement, as amended or supplemented from time to time. We will refer to any such indenture throughout this prospectus as the “senior indenture.” Any subordinated debt securities will be issued under one or more separate indentures, dated as of a date prior to such issuance, between us and the trustee identified in the applicable prospectus supplement, as amended or supplemented from time to time. We will refer to any such indenture throughout this prospectus as the “subordinated indenture” and to the trustee under the senior or subordinated indenture as the “trustee.” The senior indenture and the subordinated indenture are sometimes collectively referred to in this prospectus as the “indentures.” The indentures will be subject to and governed by the Trust Indenture Act of 1939, as amended. We included copies of the forms of the indentures as exhibits to our registration statement of which this prospectus forms a part.

If we issue debt securities at a discount from their principal amount, then, for purposes of calculating the aggregate offering price of the offered securities issued under this prospectus, we will include only the offering price of the debt securities and not the principal amount of the debt securities.

We have summarized below the material provisions of the indentures and the debt securities, or indicated which material provisions will be described in the related prospectus supplement. The prospectus supplement relating to any particular securities offered will describe the specific terms of the securities, which may be in addition to or different from the general terms summarized in this prospectus. Because the summary in this prospectus and in any prospectus supplement does not contain all of the information that you may find useful, you should read the documents relating to the securities that are described in this prospectus or in any applicable prospectus supplement. Please read “Where You Can Find More Information” to find out how you can obtain a copy of those documents. Except as otherwise indicated, the terms of the indentures are identical. As used under this caption, the term “debt securities” includes the debt securities being offered by this prospectus and all other debt securities issued by us under the indentures.

General

The indentures:

do not limit the amount of debt securities that we may issue;

allow us to issue debt securities in one or more series;

do not require us to issue all of the debt securities of a series at the same time;

allow us to reopen a series to issue additional debt securities without the consent of the holders of the debt securities of such series; and

provide that the debt securities will be unsecured, except as may be set forth in the applicable prospectus supplement.

Unless we give you different information in the applicable prospectus supplement, the senior debt securities will be unsubordinated obligations and will rank equally with all of our other unsecured and unsubordinated indebtedness. Payments on the subordinated debt securities will be subordinated to the prior payment in full of all of our senior indebtedness, as described under “Description of Debt Securities—Subordination” and in the applicable prospectus supplement.

Each indenture provides that we may, but need not, designate more than one trustee under an indenture. Any trustee under an indenture may resign or be removed and a successor trustee may be appointed to act with respect to the series of debt securities administered by the resigning or removed trustee. If two or more persons are acting as trustee with respect to different series of debt securities, each trustee shall be a trustee of a trust under the applicable indenture separate and apart from the trust administered by any other trustee. Except as otherwise indicated in this prospectus, any action described in this prospectus to be taken by each trustee may be taken by each trustee with respect to, and only with respect to, the one or more series of debt securities for which it is trustee under the applicable indenture.

The prospectus supplement for each offering will provide the following terms, where applicable:

the title of the debt securities and whether they are senior or subordinated;

the aggregate principal amount of the debt securities being offered, the aggregate principal amount of the debt securities outstanding as of the most recent practicable date and any limit on their aggregate principal amount, including the aggregate principal amount of debt securities authorized;

the price at which the debt securities will be issued, expressed as a percentage of the principal and, if other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity thereof or, if applicable, the portion of the principal amount of such debt securities that is convertible into common stock or other securities of ours or the method by which any such portion shall be determined;

if convertible, the terms on which such debt securities are convertible, including the initial conversion price or rate and the conversion period and any applicable limitations on the ownership or transferability of common stock or other securities of ours received on conversion;

the date or dates, or the method for determining the date or dates, on which the principal of the debt securities will be payable;

the fixed or variable interest rate or rates of the debt securities, or the method by which the interest rate or rates is determined;

the date or dates, or the method for determining the date or dates, from which interest will accrue;

the dates on which interest will be payable;

the record dates for interest payment dates, or the method by which such dates will be determine;

the persons to whom interest will be payable;

the basis upon which interest will be calculated if other than that of a360-day year of twelve30-day months;

any make-whole amount, which is the amount in addition to principal and interest that is required to be paid to the holder of a debt securityparty’s agreements as a result of any optional redemption or accelerated payment of such debt security,the merger or the method for determining the make-whole amount;merger agreement;

 

subject to exceptions, any transaction that results in the placeissuance or places wheretransfer by the principalcorporation of and any premium or make-whole amount, and interest on,stock of the debt securities will be payable;corporation to the interested stockholder;

 

where

subject to exceptions, any transaction involving the debt securities may be surrendered for registrationcorporation that has the effect of transfer or conversion or exchange;increasing the proportionate share of the interested stockholder; and

 

where notices or demands to or upon us in respect

the receipt by the interested stockholder of the debt securities and the applicable indenture may be served;

the times, prices and other terms and conditions upon which we may redeem the debt securities;

any obligation we have to redeem, repay or purchase the debt securities pursuant to any sinking fund or analogous provision or at the option of holders of the debt securities, and the times and prices at which we must redeem, repay or purchase the debt securities as a result of such obligation;

the currency or currencies in which the debt securities are denominated and payable if other than United States dollars, which may be a foreign currency or units of two or more foreign currencies or a composite currency or currencies and the terms and conditions relating thereto, and the manner of determining the equivalent of such foreign currency in United States dollars;

whether the principal of, and any premium or make-whole amount, or interest on, the debt securities of the series are to be payable, at our election or at the election of a holder, in a currency or currencies other than that in which the debt securities are denominated or stated to be payable, and other related terms and conditions;

whether the amount of payments of principal of, and any premium or make-whole amount, or interest on, the debt securities may be determined according to an index, formula or other method and how such amounts will be determined;

whether the debt securities will be in registered form, bearer form, or both, and (i) if in registered form, the person to whom any interest shall be payable, if other than the person in whose name the security is registered at the close of business on the regular record date for such interest, or (ii) if in bearer form, the manner in which, or the person to whom, any interest on the security shall be payable if otherwise than upon presentation and surrender upon maturity;

any restrictions applicable to the offer, sale or delivery of securities in bearer form and the terms upon which securities in bearer form of the series may be exchanged for securities in registered form of the series and vice versa, if permitted by applicable laws and regulations;

whether any debt securities of the series are to be issuable initially in temporary global form and whether any debt securities of the series are to be issuable in permanent global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent global security may, or shall be required to, exchange their interests for other debt securities of the series, and the manner in which interest shall be paid;

the identity of the depositary for securities in registered form, if such series are to be issuable as a global security;

the date as of which any debt securities in bearer form or in temporary global form shall be dated if other than the original issuance date of the first security of the series to be issued;

the applicability, if any, of the defeasance and covenant defeasance provisions described in this prospectus or in the applicable indenture;

whether and under what circumstances we will pay any additional amounts on the debt securities in respect of any tax, assessment or governmental charge and, if so, whether we will have the option to redeem the debt securities in lieu of making such a payment;

whether and under what circumstances the debt securities being offered are convertible into common stock or other securities of ours, as the case may be, including the conversion price or rate and the manner or calculation thereof;

the circumstances, if any, specified in the applicable prospectus supplement, under which beneficial owners of interests in the global security may obtain definitive debt securities and the manner in which payments on a permanent global debt security will be made if any debt securities are issuable in temporary or permanent global form;

any provisions granting special rights to holders of securities upon the occurrence of such events as specified in the applicable prospectus supplement;

if the debt securities of such series are to be issuable in definitive form only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and/or terms of such certificates, documents or conditions;

the name of the applicable trustee and the nature of any material relationship with us or any of our affiliates, and the percentage of debt securities of the class necessary to require the trustee to take action;

any deletions from, modifications of or additions to our events of default or covenants with regard to such debt securities and any change in the right of any trustee or any of the holders to declare the principal amount of any of such debt securities due and payable;

applicable CUSIP numbers; and

any other terms of such debt securities not inconsistent with the provisions of the applicable indenture.

We may issue debt securities that provide for less than the entire principal amount thereof to be payable upon declaration of acceleration of the maturity of the debt securities. We refer to any such debt securities throughout this prospectus as “original issue discount securities.” The applicable prospectus supplement will describe the United States federal income tax consequences and other relevant considerations applicable to original issue discount securities.

We also may issue indexed debt securities. Payments of principal of, and premium and interest on, indexed debt securities are determined with reference to the rate of exchange between the currency or currency unit in which the debt security is denominated and any other currency or currency unit specified by us, to the relationship between two or more currencies or currency units or by other similar methods or formulas specified in the prospectus supplement.

Except as described under “—Merger, Consolidation or Sale of Assets” or as may be set forth in any prospectus supplement, the debt securities will not contain any provisions that (i) would limit our ability to incur indebtedness or (ii) would afford holders of debt securities protection in the event of (a) a highly leveraged or similar transaction involving us, or (b) a change of control or reorganization, restructuring, merger or similar transaction involving us that may adversely affect the holders of the debt securities. In the future, we may enter into transactions, such as the sale of all or substantially all of our assets or a merger or consolidation, that may have an adverse effect on our ability to service our indebtedness, including the debt securities, by, among other things, substantially reducing or eliminating our assets.

Our governing instruments do not define the term “substantially all” as it relates to the sale of assets. Additionally, Delaware cases interpreting the term “substantially all” rely upon the facts and circumstances of each particular case. Consequently, to determine whether a sale of “substantially all” of our assets has occurred, a holder of debt securities must review the financial and other information that we have disclosed to the public.

We will provide you with more information in the applicable prospectus supplement regarding any deletions, modifications, or additions to the events of default or covenants that are described below, including any addition of a covenant or other provision providing event risk or similar protection.

Payment

Unless we give you different information in the applicable prospectus supplement, the principal of, and any premium or make-whole amount, and interest on, any series of the debt securities will be payable at the corporate trust office of the trustee. We will provide you with the address of the trustee in the applicable prospectus supplement. We may also pay interest by mailing a check to the address of the person entitled to it as it appears in the applicable register for the debt securities or by wire transfer of funds to that person at an account maintained within the United States.

All monies that we pay to a paying agent or a trustee for the payment of the principal of, and any premium or make-whole amount, or interest on, any debt security will be repaid to us if unclaimed at the end of two years after the obligation underlying payment becomes due and payable. After funds have been returned to us, the holder of the debt security may look only to us for payment, without payment of interest for the period which we hold the funds.

Denomination, Interest, Registration and Transfer

Unless otherwise described in the applicable prospectus supplement, the debt securities of any series will be issuable in denominations of $1,000 and integral multiples of $1,000.

Subject to the limitations imposed upon debt securities that are evidenced by a computerized entry in the records of a depository company rather than by physical delivery of a note, a holder of debt securities of any series may:

exchange them for any authorized denomination of other debt securities of the same series and of a like aggregate principal amount and kind upon surrender of such debt securities at the corporate trust office of the applicable trustee or at the office of any transfer agent that we designate for such purpose; and

surrender them for registration of transfer or exchange at the corporate trust office of the applicable trustee or at the office of any transfer agent that we designate for such purpose.

Every debt security surrendered for registration of transfer or exchange must be duly endorsed or accompanied by a written instrument of transfer satisfactory to the applicable trustee or transfer agent. Payment of a service charge will not be required for any registration of transfer or exchange of any debt securities, but we or the trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. If in addition to the applicable trustee, the applicable prospectus supplement refers to any transfer agent initially designated by us for any series of debt securities, we may at any time rescind the designation of any such transfer agent or approve a change in the location through which any such transfer agent acts, except that we will be required to maintain a transfer agent in each place of payment for such series. We may at any time designate additional transfer agents for any series of debt securities.

Neither we, nor any trustee, will be required to:

issue, register the transfer of or exchange debt securities of any series during a period beginning at the opening of business 15 days before the day that the notice of redemption of any debt securities selected for redemption is mailed and ending at the close of business on the day of such mailing;

register the transfer of or exchange any debt security, or portion thereof, so selected for redemption, in whole or in part, except the unredeemed portion of any debt security being redeemed in part; and

issue, register the transfer of or exchange any debt security that has been surrendered for repayment at the option of the holder, except the portion, if any, of such debt security not to be so repaid.

Merger, Consolidation or Sale of Assets

The indentures provide that we may, without the consent of the holders of any outstanding debt securities, (i) consolidate with, (ii) sell, lease or convey all or substantially all of our assets to, or (iii) merge with or into, any other entity provided that:

either we are the continuing entity, or the successor entity, if other than us, assumes the obligations (a) to pay the principal of, and any premium or make-whole amount, and interest on, all of the debt securities and (b) to duly perform and observe all of the covenants and conditions contained in each indenture;

after giving effect to the transaction, there is no event of default under the indentures and no event which, after notice or the lapse of time, or both, would become such an event of default, occurs and continues; and

an officers’ certificate and legal opinion covering such conditions are delivered to each applicable trustee.

Covenants

Existence. Except as described under “—Merger, Consolidation or Sale of Assets,” the indentures require us to do or cause to be done all things necessary to preserve and keep in full force and effect our existence, rights and franchises. However, the indentures do not require us to preserve any right or franchise if we determine that any right or franchise is no longer desirable in the conduct of our business.

Payment of taxes and other claims. The indentures require us to pay, discharge or cause to be paid or discharged, before they become delinquent (i) all taxes, assessments and governmental charges levied or imposed on us, and (ii) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon our property. However, we will not be required to pay, discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings.

Provision of financial information. The indentures require us to (i) within 15 days of each of the respective dates by which we are required to file our annual reports, quarterly reports and other documents with the SEC, file with the trustee copies of the annual report, quarterly report and other documents that we file with the SEC under Section 13 or 15(d) of the Exchange Act, (ii) file with the trustee and the SEC any additional information, documents and reports regarding compliance by us with the conditions and covenants of the indentures, as required, (iii) within 30 days after the filing with the trustee, mail to all holders of debt securities, as their names and addresses appear in the applicable register for such debt securities, without cost to such holders, summaries of any documents and reports required to be filed by us pursuant to (i) and (ii) above, and (iv) supply, promptly upon written request and payment of the reasonable cost of duplication and delivery, copies of such documents to any prospective holder.

Additional covenants. The applicable prospectus supplement will set forth any our additional covenants relating to any series of debt securities.

Events of Default, Notice and Waiver

Unless the applicable prospectus supplement states otherwise, when we refer to “events of default” as defined in the indentures with respect to any series of debt securities, we mean:

default in the payment of any installment of interest on any debt security of such series continuing for 30 days;

default in the payment of principal of, or any premium or make-whole amount on, any debt security of such series for five business days at its stated maturity;

default in making any sinking fund payment as required for any debt security of such series for five business days;

default in the performance or breach of any covenant or warranty in the debt securities or in the indenture by us continuing for 60 days after written notice as provided in the applicable indenture, but not of a covenant added to the indenture solely for the benefit of a series of debt securities issued thereunderany loans, advances, guarantees, pledges or other than such series;financial benefits provided by or through the corporation.

a default underIn general, Section 203 defines an interested stockholder as any bond, debenture, note, mortgage, indentureentity or instrument:

(i)having an aggregate principal amount of at least $30,000,000; or

(ii)under which there may be issued, secured or evidenced any existing or later created indebtedness for money borrowed by us, if we are directly responsible or liable as obligor or guarantor,

if the default results in the indebtedness becomingperson beneficially owning 15% or being declared due and payable prior to the date it otherwise would have, without such indebtedness having been discharged, or such acceleration having been rescinded or annulled, within 30 days after notice to the issuing company specifying such default. Such notice shall be given to us by the trustee, or to us and the trustee by the holders of at least 10% in principal amountmore of the outstanding debt securities of that series. The written notice shall specify such default and require us to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled and shall state that such notice is a “Notice of Default” under such indenture;

bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of us; and

any other event of default provided with respect to a particular series of debt securities.

If an event of default occurs and is continuing with respect to debt securities of any series outstanding, then the applicable trustee or the holders of 25% or more in principal amountvoting stock of the debt securities of that series will have the right to declare the principal amount of all the debt securities of that series to be duecorporation and payable. If the debt securities of that series are original issue discount securitiesany entity or indexed securities, then the applicable trusteeperson affiliated with or the holders of 25%controlling or more in principal amount of the debt securities of that series will have the right to declare the portion of the principal amount as may be specified in the terms thereof to be due and payable. However, at any time after such a declaration of acceleration has been made, but before a judgment or decree for payment of the money due has been obtainedcontrolled by the applicable trustee, the holders of at least a majority in principal amount of outstanding debt securities of such seriesentity or of all debt securities then outstanding under the applicable indenture may rescind and annul such declaration and its consequences if:person.

 

we have deposited with the applicable trustee all required payments of the principal, any premium or make-whole amount, interest and, to the extent permitted by law, interest on overdue installment of interest, plus applicable fees, expenses, disbursements and advances of the applicable trustee; and

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all events of default, other than thenon-payment of accelerated principal, or a specified portion thereof, and any premium or make-whole amount, have been cured or waived.

The indentures also provide that the holders of at least a majority in principal amount of the outstanding debt securities of any series or of all debt securities then outstanding under the applicable indenture may, on behalf of all holders, waive any past default with respect to such series and its consequences, except a default:


in the payment of the principal, any premium or make-whole amount, or interest;

in respect of a covenant or provision contained in the applicable indenture that cannot be modified or amended without the consent of the holders of the outstanding debt security that is affected by the default; or

in respect of a covenant or provision for the benefit or protection of the trustee, without its express written consent.

The indentures require each trustee to give notice to the holders of debt securities within 90 days of a default unless such default has been cured or waived. However, the trustee may withhold notice if specified persons of such trustee consider such withholding to be in the interest of the holders of debt securities. The trustee may not withhold notice of a default in the payment of principal, any premium or interest on any debt security of such series or in the payment of any sinking fund installment in respect of any debt security of such series.

The indentures provide that holders of debt securities of any series may not institute any proceedings, judicial or otherwise, with respect to such indenture or for any remedy under the indenture, unless the trustee fails to act for a period of 60 days after the trustee has received a written request to institute proceedings in respect of an event of default from the holders of 25% or more in principal amount of the outstanding debt securities of such series, as well as an offer of indemnity reasonably satisfactory to the trustee. However, this provision will not prevent any holder of debt securities from instituting suit for the enforcement of payment of the principal of, and any premium or make-whole amount, and interest on, such debt securities at the respective due dates thereof.

The indentures provide that, subject to provisions in each indenture relating to its duties in the case of a default, a trustee has no obligation to exercise any of its rights or powers at the request or direction of any holders of any series of debt securities then outstanding under the indenture, unless the holders have offered to the trustee reasonable security or indemnity. The holders of at least

a majority in principal amount of the outstanding debt securities of any series or of all debt securities then outstanding under an indenture shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the applicable trustee, or of exercising any trust or power conferred upon such trustee. However, a trustee may refuse to follow any direction which:

is in conflict with any law or the applicable indenture;

may involve the trustee in personal liability; or

may be unduly prejudicial to the holders of debt securities of the series not joining the proceeding.

Within 120 days after the close of each fiscal year, we will be required to deliver to each trustee a certificate, signed by one of our several specified officers, stating whether or not that officer has knowledge of any default under the applicable indenture. If the officer has knowledge of any default, the notice must specify the nature and status of the default.

Modification of the IndenturesLEGAL MATTERS

The indentures provide that modifications and amendments may be made only with the consentvalidity of the affected holders of a majority in principal amount of all outstanding debt securities issued under that indenture. However, no such modification or amendment may, without the consent of the holders of the debt securities affected by the modification or amendment:

change the stated maturity of the principal of, or any premium or make-whole amount on, or any installment of principal of or interest on, any such debt security;

reduce the principal amount of, the rate or amount of interest on, or any premium or make-whole amount payable on redemption of, any such debt security;

reduce the amount of principal of an original issue discount security that would be due and payable upon declaration of acceleration of the maturity thereof or would be provable in bankruptcy, or adversely affect any right of repayment of the holder of any such debt security;

change the place of payment or the coin or currency for payment of principal of, or any premium or make-whole amount, or interest on, any such debt security;

impair the right to institute suit for the enforcement of any payment on or with respect to any such debt security;

reduce the percentage in principal amount of any outstanding debt securities necessary to modify or amend the applicable indenture with respect to such debt securities, to waive compliance with particular provisions thereof or defaults and consequences thereunder or to reduce the quorum or voting requirements set forth in the applicable indenture; and

modify any of the foregoing provisions or any of the provisions relating to the waiver of particular past defaults or covenants, except to increase the required percentage to effect such action or to provide that some of the other provisions may not be modified or waived without the consent of the holder of such debt security.

The holders of a majority in aggregate principal amount of the outstanding debt securities of each series may, on behalf of all holders of debt securities of that series, waive, insofar as that series is concerned, our compliance with material restrictive covenants of the applicable indenture.

We and our respective trustee may make modifications and amendments of an indenture without the consent of any holder of debt securities for any of the following purposes:

to evidence the succession of another person to us as obligor under such indenture;

to add to our covenants for the benefit of the holders of all or any series of debt securities or to surrender any right or power conferred upon us in such indenture;

to add events of default for the benefit of the holders of all or any series of debt securities;

to add or change any provisions of an indenture (i) to change or eliminate restrictions on the payment of principal of, or premium or make-whole amount, or interest on, debt securities in bearer form, or (ii) to permit or facilitate the issuance of debt securities in uncertificated form, provided that such action shall not adversely affect the interests of the holders of the debt securities of any series in any material respect;

to change or eliminate any provisions of an indenture, provided that any such change or elimination shall become effective only when there are no debt securities outstanding of any series created prior thereto which are entitled to the benefit of such provision;

to secure the debt securities;

to establish the form or terms of debt securities of any series;

to provide for the acceptance of appointment by a successor trustee or facilitate the administration of the trusts under an indenture by more than one trustee;

to cure any ambiguity, defect or inconsistency in an indenture, provided that such action shall not adversely affect the interests of holders of debt securities of any series issued under such indenture; and

to supplement any of the provisions of an indenture to the extent necessary to permit or facilitate defeasance and discharge of any series of such debt securities, provided that such action shall not adversely affect the interests of the holders of the outstanding debt securities of any series.

Voting

The indentures provide that in determining whether the holders of the requisite principal amount of outstanding debt securities of a series have given any request, demand, authorization, direction, notice, consent or waiver under the indentures or whether a quorum is present at a meeting of holders of debt securities:

the principal amount of an original issue discount security that shall be deemed to be outstanding shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon declaration of acceleration of the maturity thereof;

the principal amount of any debt security denominated in a foreign currency that shall be deemed outstanding shall be the United States dollar equivalent, determined on the issue date for such debt security, of the principal amount or, in the case of an original issue discount security, the United States dollar equivalent on the issue date of such debt security of the amount determined as provided in the preceding bullet point;

the principal amount of an indexed security that shall be deemed outstanding shall be the principal face amount of such indexed security at original issuance, unless otherwise provided for such indexed security under such indenture; and

debt securities owned by us or any other obligor upon the debt securities or by any affiliate of ours or of such other obligor shall be disregarded.

The indentures contain provisions for convening meetings of the holders of debt securities of a series. A meeting will be permitted to be called at any time by the applicable trustee, and also, upon request, by us or the holders of at least 25% in principal amount of the outstanding debt securities of such series, in any such case upon notice given as provided in such indenture. Except for any consent that must be given by the holder of each debt security affected by the modifications and amendments of an indenture described above, any resolution presented at a meeting or adjourned meeting duly reconvened at which a quorum is present may be adopted by the affirmative vote of the holders of a majority of the aggregate principal amount of the outstanding debt securities of that series represented at such meeting.

Notwithstanding the preceding paragraph, except as referred to above, any resolution relating to a request, demand, authorization, direction, notice, consent, waiver or other action that may be made, given or taken by the holders of a specified percentage, which is less than a majority of the aggregate principal amount of the outstanding debt securities of a series, may be adopted at a meeting or adjourned meeting duly reconvened at which a quorum is present by the affirmative vote of such specified percentage.

Any resolution passed or decision taken at any properly held meeting of holders of debt securities of any series will be binding on all holders of such series. The quorum at any meeting called to adopt a resolution, and at any reconvened meeting, will be persons holding or representing a majority in principal amount of the outstanding debt securities of a series. However, if any action is to be taken relating to a consent or waiver which may be given by the holders of at least a specified percentage in principal amount of the outstanding debt securities of a series, the persons holding such percentage will constitute a quorum.

Notwithstanding the foregoing provisions, the indentures provide that if any action is to be taken at a meeting with respect to any request, demand, authorization, direction, notice, consent, waiver or other action that such indenture expressly provides may be made, given or taken by the holders of a specified percentage in principal amount of all outstanding debt securities affected by such action, or of the holders of such series and one or more additional series:

there shall be no minimum quorum requirement for such meeting; and

the principal amount of the outstanding debt securities of such series that vote in favor of such request, demand, authorization, direction, notice, consent, waiver or other action shall be taken account in determining whether such request, demand, authorization, direction, notice, consent, waiver or other action has been made, given or taken under such indenture.

Subordination

Unless otherwise provided in the applicable prospectus supplement, subordinated debt securities will be subject to the following subordination provisions.

Upon any distribution to our creditors in a liquidation, dissolution or reorganization, the payment of the principal of and interest on any subordinated debt securities will be subordinated to the extent provided in the applicable indenture in right of payment to the prior payment in full of all senior debt. However, our obligation to make payments of the principal of and interest on such subordinated debt securities otherwise will not be affected. No payment of principal or interest will be permitted to be made on subordinated debt securities at any time if a default on senior debt exists that permits the holders of such senior debt to accelerate its maturity and the default is the subject of judicial proceedings or we receive notice of the default. After all senior debt is paid in full and until the subordinated debt securities are paid in full, holders of subordinated debt securities will be subrogated to the rights of holders of senior debt to the extent that distributions otherwise payable to holders of subordinated debt securities have been applied to the payment of senior debt. The subordinated indenture will not restrict the amount of senior debt or other indebtedness of ours. As a result of these subordination provisions, in the event of a distribution of assets upon insolvency, holders of subordinated debt securities may recover less, ratably, than our general creditors.

The term “senior debt” will be defined in the applicable indenture as the principal of and interest on, or substantially similar payments to be made by us in respect of, other outstanding indebtedness, whether outstanding at the date of execution of the applicable indenture or subsequently incurred, created or assumed. The prospectus supplement may include a description of additional terms implementing the subordination feature.

No restrictions will be included in any indenture relating to subordinated debt securities upon the creation of additional senior debt.

If this prospectus is being delivered in connection with the offering of a series of subordinated debt securities, the accompanying prospectus supplement or the information incorporated in this prospectus by reference will set forth the approximate amount of senior debt outstanding as of the end of our most recent fiscal quarter.

Discharge, Defeasance and Covenant Defeasance

Unless otherwise indicated in the applicable prospectus supplement, the indentures allow us to discharge our obligations to holders of any series of debt securities issued under any indenture when:

either (i) all securities of such series have already been delivered to the applicable trustee for cancellation; or (ii) all securities of such series have not already been delivered to the applicable trustee for cancellation but (a) have become due and payable, (b) will become due and payable within one year, or (c) if redeemable at our option, are to be redeemed within one year, and we have irrevocably deposited with the applicable trustee, in trust, funds in such currency or currencies, currency unit or units or composite currency or currencies in which such debt securities are payable, an amount sufficient to pay the entire indebtedness on such debt securities in respect of principal and any premium or make-whole amount, and interest to the date of such deposit if such debt securities have become due and payable or, if they have not, to the stated maturity or redemption date;

we have paid or caused to be paid all other sums payable; and

an officers’ certificate and an opinion of counsel stating the conditions to discharging the debt securities have been satisfied has been delivered to the trustee.

Unless otherwise indicated in the applicable prospectus supplement, the indentures provide that, upon our irrevocable deposit with the applicable trustee, in trust, of an amount, in such currency or currencies, currency unit or units or composite currency or currencies in which such debt securities are payable at stated maturity, or government obligations, or both, applicable to such debt securities, which through the scheduled payment of principal and interest in accordance with their terms will provide money in an amount sufficient to pay the principal of, and any premium or make-whole amount, and interest on, such debt securities, and any mandatory sinking fund or analogous payments thereon, on the scheduled due dates therefor, the issuing company may elect either:

to defease and be discharged from any and all obligations with respect to such debt securities; or

to be released from its obligations with respect to such debt securities under the applicable indenture or, if provided in the applicable prospectus supplement, its obligations with respect to any other covenant, and any omission to comply with such obligations shall not constitute an event of default with respect to such debt securities.

Notwithstanding the above, we may not elect to defease and be discharged from the obligation to pay any additional amounts upon the occurrence of particular events of tax, assessment or governmental charge with respect to payments on such debt securities and the obligations to register the transfer or exchange of such debt securities, to replace temporary or mutilated, destroyed, lost or stolen debt securities, to maintain an office or agency in respect of such debt securities, or to hold monies for payment in trust.

The indentures only permit us to establish the trust described in the paragraph above if, among other things, we have delivered to the applicable trustee an opinion of counsel to the effect that the holders of such debt securities will not recognize income, gain or loss for United States federal income tax purposes as a result of such defeasance or covenant defeasance and will be subject to United States federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance or covenant defeasance had not occurred. Such opinion of counsel, in the case of defeasance, will be required to refer to and be based upon a ruling received from or published by the Internal Revenue Service or a change in applicable United States federal income tax law occurring after the date of the indenture. In the event of such defeasance, the holders of such debt securities would be able to look only to such trust fund for payment of principal, any premium or make-whole amount, and interest.

When we use the term “government obligations,” we mean securities that are:

direct obligations of the United States or the government that issued the foreign currency in which the debt securities of a particular series are payable, for the payment of which its full faith and credit is pledged; or

obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States or other government that issued the foreign currency in which the debt securities of such series are payable, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States or such other government, which are not callable or redeemable at the option of the issuer thereof and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such government obligation or a specific payment of interest on or principal of any such government obligation held by such custodian for the account of the holder of a depository receipt. However, except as required by law, such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the government obligation or the specific payment of interest on or principal of the government obligation evidenced by such depository receipt.

Unless otherwise provided in the applicable prospectus supplement, if after we have deposited funds and/or government obligations to effect defeasance or covenant defeasance with respect to debt securities of any series, (i) the holder of a debt security of such series is entitled to, and does, elect under the terms of the applicable indenture or the terms of such debt security to receive payment in a currency, currency unit or composite currency other than that in which such deposit has been made in respect of such debt security, or (ii) a conversion event occurs in respect of the currency, currency unit or composite currency in which such deposit has been made, the indebtedness represented by such debt security will be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of, and premium or make-whole amount, and interest on, such debt security as they become due out of the proceeds yielded by converting the amount so deposited in respect of such debt security into the currency, currency unit or composite currency in which such debt security becomes payable as a result of such election or such cessation of usage based on the applicable market exchange rate.

When we use the term “conversion event,” we mean the cessation of use of:

a currency, currency unit or composite currency both by the government of the country that issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community;

the European Currency Unit both within the European Monetary System and for the settlement of transactions by public institutions of or within the European Communities; or

any currency unit or composite currency other than the European Currency Unit for the purposes for which it was established.

Unless otherwise provided in the applicable prospectus supplement, all payments of principal of, and any premium or make-whole amount, and interest on, any debt security that is payable in a foreign currency that ceases to be used by its government of issuance shall be made in United States dollars.

In the event that (i) we effect covenant defeasance with respect to any debt securities and (ii) those debt securities are declared due and payable because of the occurrence of any event of default, the amount in the currency, currency unit or composite currency in which such debt securities are payable, and government obligations on deposit with the applicable trustee, will be sufficient to pay amounts due on such debt securities at the time of their stated maturity but may not be sufficient to pay amounts due on such debt securities at the time of the acceleration resulting from such event of default. However, the issuing company would remain liable to make payments of any amounts due at the time of acceleration.

The applicable prospectus supplement may further describe the provisions, if any, permitting such defeasance or covenant defeasance, including any modifications to the provisions described above, with respect to the debt securities of or within a particular series.

Conversion Rights

The terms and conditions, if any, upon which the debt securities are convertible into common stock or other securities of ours will be set forth in the applicable prospectus supplement. The terms will include whether the debt securities are convertible into shares of common stock or other securities of ours, the conversion price, or manner of calculation thereof, the conversion period, provisions as to whether conversion will be at the issuing company’s option or the option of the holders, the events requiring an adjustment of the conversion price and provisions affecting conversion in the event of the redemption of the debt securities and any restrictions on conversion.

Global Securities

The debt securities of a series may be issued in whole or in part in the form of one or more global securities that will be deposited with, or on behalf of, a depository identified in the applicable prospectus supplement relating to such series. Global securities, if any, issued in the United States are expected to be deposited with The Depository Trust Company, or DTC, as depository. We may issue global securities in either registered or bearer form and in either temporary or permanent form. We will describe the specific terms of the depository arrangement with respect to a series of debt securities in the applicable prospectus supplement relating to such series. We expect that unless the applicable prospectus supplement provides otherwise, the following provisions will apply to depository arrangements.

Once a global security is issued, the depository for such global security or its nominee will credit on its book-entry registration and transfer system the respective principal amounts of the individual debt securities represented by such global security to the accounts of participants that have accounts with such depository. Such accounts shall be designated by the underwriters, dealers or agents with respect to such debt securities or by us if we offer such debt securities directly. Ownership of beneficial interests in such global security will be limited to participants with the depository or persons that may hold interests through those participants.

We expect that, under procedures established by DTC, ownership of beneficial interests in any global security for which DTC is the depository will be shown on, and the transfer of that ownership will be effected only through, records maintained by DTC or its nominee, with respect to beneficial interests of participants with the depository, and records of participants, with respect to beneficial interests of persons who hold through participants with the depository. Neither we nor the trustee will have any responsibility or liability for any aspect of the records of DTC or for maintaining, supervising or reviewing any records of DTC or any of its participants relating to beneficial ownership interests in the debt securities. The laws of some states require that certain purchasers of securities take physical delivery of such securities in definitive form. Such limits and laws may impair the ability to own, pledge or transfer beneficial interest in a global security.

So long as the depository for a global security or its nominee is the registered owner of such global security, such depository or such nominee, as the case may be, will be considered the sole owner or holder of the debt securities represented by the global security for all purposes under the applicable indenture. Except as described below or in the applicable prospectus supplement, owners of beneficial interest in a global security will not be entitled to have any of the individual debt securities represented by such global security registered in their names, will not receive or be entitled to receive physical delivery of any such debt securities in definitive form and will not be considered the owners or holders thereof under the applicable indenture. Beneficial owners of debt securities evidenced by a global security will not be considered the owners or holders thereof under the applicable indenture for any purpose, including with respect to the giving of any direction, instructions or approvals to the trustee under the indenture. Accordingly, each person owning a beneficial interest in a global security with respect to which DTC is the depository must rely on the procedures of DTC and, if such person is not a participant with the depository, on the procedures of the participant through which such person owns its interests, to exercise any rights of a holder under the applicable indenture. We understand that, under existing industry practice, if DTC requests any action of holders or if an owner of a beneficial interest in a global security desires to give or take any action which a holder is entitled to give or take under the applicable indenture, DTC would authorize the participants holding the relevant beneficial interest to give or take such action, and such participants would authorize beneficial owners through such participants to give or take such actions or would otherwise act upon the instructions of beneficial owners holding through them.

Payments of principal of, and any premium or make-whole amount, and interest on, individual debt securities represented by a global security registered in the name of a depository or its nominee will be made to or at the direction of the depository or its nominee, as the case may be, as the registered owner of the global security under the applicable indenture. Under the terms of the applicable indenture, we and the trustee may treat the persons in whose name debt securities, including a global security, are registered as the owners thereof for the purpose of receiving such payments. Consequently, neither we nor the trustee have or will have any

responsibility or liability for the payment of such amounts to beneficial owners of debt securities including principal, any premium or make-whole amount, or interest. We believe, however, that it is currently the policy of DTC to immediately credit the accounts of relevant participants with such payments, in amounts proportionate to their respective holdings of beneficial interests in the relevant global security as shown on the records of DTC or its nominee. We also expect that payments by participants to owners of beneficial interests in such global security held through such participants will be governed by standing instructions and customary practices, as is the case with securities held for the account of customers in bearer form or registered in street name, and will be the responsibility of such participants. Redemption notices with respect to any debt securities represented by a global security will be sent to the depository or its nominee. If less than all of the debt securities of any series are to be redeemed, we expect the depository to determine the amount of the interest of each participant in such debt securities to be redeemed to be determined by lot. Neither we, the trustee, any paying agent nor the security registrar for such debt securities will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the global security for such debt securities or for maintaining any records with respect thereto.

Neither we nor the trustee will be liable for any delay by the holders of a global security or the depository in identifying the beneficial owners of debt securities, and we and the trustee may conclusively rely on, and will be protected in relying on, instructions from the holder of a global security or the depository for all purposes. The rules applicable to DTC and its participants are on file with the SEC.

If a depository for any debt securities is at any time unwilling, unable or ineligible to continue as depository and we do not appoint a successor depository within 90 days, we will issue individual debt securities in exchange for the global security representing such debt securities. In addition, we may at any time and at our sole discretion, subject to any limitations described in the applicable prospectus supplement relating to such debt securities, determine not to have any of such debt securities represented by one or more global securities and in such event will issue individual debt securities in exchange for the global security or securities representing such debt securities. Individual debt securities so issued will be issued in denominations of $1,000 and integral multiples of $1,000.

The debt securities of a series may also be issued in whole or in part in the form of one or more bearer global securities that will be deposited with a depository, or with a nominee for such depository, identified in the applicable prospectus supplement. Any such bearer global securities may be issued in temporary or permanent form. The specific terms and procedures, including the specific terms of the depositary arrangement, with respect to any portion of a series of debt securities to be represented by one or more bearer global securities will be described in the applicable prospectus supplement.

No Recourse

There is no recourse under any obligation, covenant or agreement in the applicable indenture or with respect to any security against any of our or our successor’s past, present or future stockholders, employees, officers or directors.

DESCRIPTION OF WARRANTS

The following description, together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that prospectus supplement may differ from the terms described below. Specific warrant agreements will contain additional important terms and provisions and will be incorporated by reference as an exhibit to the registration statement, which includes this prospectus.

General

We may issue warrants for the purchase of common stock, preferred stock and/or debt securities in one or more series. We may issue warrants independently or together with common stock, preferred stock and/or debt securities, and the warrants may be attached to or separate from these securities.

We will evidence each series of warrants by warrant certificates that we will issue under a separate warrant agreement. We will enter into the warrant agreement with a warrant agent. We will indicate the name and address of the warrant agent in the applicable prospectus supplement relating to a particular series of warrants.

We will describe in the applicable prospectus supplement the terms of the series of warrants, including:

the offering price and aggregate number of warrants offered;

the currency for which the warrants may be purchased;

if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security;

if applicable, the date on and after which the warrants and the related securities will be separately transferable;

in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at, and currency in which, this principal amount of debt securities may be purchased upon such exercise;

in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these shares may be purchased upon such exercise;

the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement and the warrants;

the terms of any rights to redeem or call the warrants;

any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants;

the periods during which, and places at which, the warrants are exercisable;

the manner of exercise;

the dates on which the right to exercise the warrants will commence and expire;

the manner in which the warrant agreement and warrants may be modified;

federal income tax consequences of holding or exercising the warrants;

the terms of the securities issuable upon exercise of the warrants; and

any other specific terms, preferences, rights or limitations of or restrictions on the warrants.

DESCRIPTION OF UNITS

We may issue units comprised of shares of common stock, shares of preferred stock, debt securities and warrants in any combination. We may issue units in such amounts and in as many distinct series as we wish. This section outlines certain provisions of the units that we may issue. If we issue units, they will be issued under one or more unit agreements to be entered into between us and a bank or other financial institution, as unit agent. The information described in this section may not be complete in all respects and is qualified entirely by reference to the unit agreement with respect to the units of any particular series. The specific terms of any series of units offered will be described in the applicable prospectus supplement. If so described in a particular supplement, the specific terms of any series of units may differ from the general description of terms presented below. We urge you to read any prospectus supplement related to any series of units we may offer, as well as the complete unit agreement and unit certificate that contain the terms of the units. If we issue units, forms of unit agreements and unit certificates relating to such units will be incorporated by reference as exhibits to the registration statement, which includes this prospectus.

Each unit that we may issue will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may describe:

the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

any provisions of the governing unit agreement;

the price or prices at which such units will be issued;

the applicable United States federal income tax considerations relating to the units;

any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and

any other terms of the units and of the securities comprising the units.

The provisions described in this section, as well as those described under “Description of Capital Stock,” “Description of Debt Securities” and “Description of Warrants” will apply to the securities included in each unit, to the extent relevant and as may be updated in any prospectus supplements.

Issuance in Series

We may issue units in such amounts and in as many distinct series as we wish. This section summarizes terms of the units that apply generally to all series. Most of the financial and other specific terms of your series will be described in the applicable prospectus supplement.

Unit Agreements

We will issue the units under one or more unit agreements to be entered into between us and a bank or other financial institution, as unit agent. We may add, replace or terminate unit agents from time to time. We will identify the unit agreement under which each series of units will be issued and the unit agent under that agreement in the applicable prospectus supplement.

The following provisions will generally apply to all unit agreements unless otherwise stated in the applicable prospectus supplement:

Modification without Consent

We and the applicable unit agent may amend any unit or unit agreement without the consent of any holder:

to cure any ambiguity, including modifying any provisions of the governing unit agreement that differ from those described below;

to correct or supplement any defective or inconsistent provision; or

to make any other change that we believe is necessary or desirable and will not adversely affect the interests of the affected holders in any material respect.

We do not need any approval to make changes that affect only units to be issued after the changes take effect. We may also make changes that do not adversely affect a particular unit in any material respect, even if they adversely affect other units in a material respect. In those cases, we do not need to obtain the approval of the holder of the unaffected unit; we need only obtain any required approvals from the holders of the affected units.

Modification with Consent

We may not amend any particular unit or a unit agreement with respect to any particular unit unless we obtain the consent of the holder of that unit, if the amendment would:

impair any right of the holder to exercise or enforce any right under a security included in the unit if the terms of that security require the consent of the holder to any changes that would impair the exercise or enforcement of that right; or

reduce the percentage of outstanding units or any series or class the consent of whose holders is required to amend that series or class, or the applicable unit agreement with respect to that series or class, as described below.

Any other change to a particular unit agreement and the units issued under that agreement would require the following approval:

If the change affects only the units of a particular series issued under that agreement, the change must be approved by the holders of a majority of the outstanding units of that series; or

If the change affects the units of more than one series issued under that agreement, it must be approved by the holders of a majority of all outstanding units of all series affected by the change, with the units of all the affected series voting together as one class for this purpose.

These provisions regarding changes with majority approval also apply to changes affecting any securities issued under a unit agreement, as the governing document.

In each case, the required approval must be given by written consent.

Unit Agreements Will Not Be Qualified under Trust Indenture Act

No unit agreement will be qualified as an indenture, and no unit agent will be required to qualify as a trustee, under the Trust Indenture Act. Therefore, holders of units issued under unit agreements will not have the protections of the Trust Indenture Act with respect to their units.

Mergers and Similar Transactions Permitted; No Restrictive Covenants or Events of Default

The unit agreements will not restrict our ability to merge or consolidate with, or sell our assets to, another corporation or other entity or to engage in any other transactions. If at any time we merge or consolidate with, or sell our assets substantially as an entirety to, another corporation or other entity, the successor entity will succeed to and assume our obligations under the unit agreements. We will then be relieved of any further obligation under these agreements.

The unit agreements will not include any restrictions on our ability to put liens on our assets, nor will they restrict our ability to sell our assets. The unit agreements also will not provide for any events of default or remedies upon the occurrence of any events of default.

Governing Law

The unit agreements and the units will be governed by Delaware law.

Form, Exchange and Transfer

Unless the accompanying prospectus supplement states otherwise, we will issue each unit in global—i.e., book-entry—form only. Units in book-entry form will be represented by a global security registered in the name of a depositary, which will be the holder of all the units represented by the global security. Those who own beneficial interests in a unit will do so through participants in the depositary’s system, and the rights of these indirect owners will be governed solely by the applicable procedures of the depositary and its participants. We will describe book-entry securities, and other terms regarding the issuance and registration of the units in the applicable prospectus supplement.

Unless the accompanying prospectus supplement states otherwise, each unit and all securities comprising the unit will be issued in the same form.

If we issue any units in registered,non-global form, the following will apply to them.

The units will be issued in the denominations stated in the applicable prospectus supplement. Holders may exchange their units for units of smaller denominations or combined into fewer units of larger denominations, as long as the total amount is not changed.

Holders may exchange or transfer their units at the office of the unit agent. Holders may also replace lost, stolen, destroyed or mutilated units at that office. We may appoint another entity to perform these functions or perform them ourselves.

Holders will not be required to pay a service charge to transfer or exchange their units, but they may be required to pay for any tax or other governmental charge associated with the transfer or exchange. The transfer or exchange, and any replacement, will be made only if our transfer agent is satisfied with the holder’s proof of legal ownership. The transfer agent may also require an indemnity before replacing any units.

If we have the right to redeem, accelerate or settle any units before their maturity, and we exercise our right as to less than all those units or other securities, we may block the exchange or transfer of those units during the period beginning 15 days before the day we mail the notice of exercise and ending on the day of that mailing, in order to freeze the list of holders to prepare the mailing. We may also refuse to register transfers of or exchange any unit selected for early settlement, except that we will continue to permit transfers and exchanges of the unsettled portion of any unit being partially settled. We may also block the transfer or exchange of any unit in this manner if the unit includes securities that are or may be selected for early settlement.

Only the depositary will be entitled to transfer or exchange a unit in global form, since it will be the sole holder of the unit.

Payments and Notices

In making payments and giving notices with respect to our units, we will follow the procedures as described in the applicable prospectus supplement.

PLAN OF DISTRIBUTION

We may sell securities:

through underwriters;

through dealers;

through agents;

directly to purchasers; or

through a combination of any of these methods or any other method permitted by law.

In addition, we may issue the securities as a dividend or distribution or in a subscription rights offering to our existing securityholders.

We may directly solicit offers to purchase securities, or agents may be designated to solicit such offers. In the prospectus supplement relating to such offering, we will name any agent that could be viewed as an underwriter under the Securities Act and describe any commissions that we must pay to any such agent. Any such agent will be acting on a best efforts basis for the period of its appointment or, if indicated in the applicable prospectus supplement, on a firm commitment basis. This prospectus may be used in connection with any offering of our securities through any of these methods or other methods described in the applicable prospectus supplement.

The distribution of the securities may be effected from time to time in one or more transactions:

at a fixed price, or prices, which may be changed from time to time;

at market prices prevailing at the time of sale;

at prices related to such prevailing market prices; or

at negotiated prices.

Each prospectus supplement will describe the method of distribution of the securities and any applicable restrictions.

The prospectus supplement with respect to the securities of a particular series will describe the terms of the offering of the securities, including the following:

the name of the agent or any underwriters;

the public offering or purchase price;

any discounts and commissions to be allowed or paid to the agent or underwriters;

all other items constituting underwriting compensation;

any discounts and commissions to be allowed or paid to dealers; and

any exchanges on which the securities will be listed.

If any underwriters or agents are used in the sale of the securities in respect of which this prospectus is delivered, we will enter into an underwriting agreement, sales agreement or other agreement with them at the time of sale to them, and we will set forth in the prospectus supplement relating to such offering the names of the underwriters or agents and the terms of the related agreement with them.

In connection with the offering of securities, we may grant to the underwriters an option to purchase additional securities with an additional underwriting commission, as may be set forth in the accompanying prospectus supplement. If we grant any such option, the terms of such option will be set forth in the prospectus supplement for such securities.

If a dealer is used in the sale of the securities in respect of which the prospectus is delivered, we will sell such securities to the dealer, as principal. The dealer, who may be deemed to be an “underwriter” as that term is defined in the Securities Act, may then resell such securities to the public at varying prices to be determined by such dealer at the time of resale.

If we offer securities in a subscription rights offering to our existing securityholders, we may enter into a standby underwriting agreement with dealers, acting as standby underwriters. We may pay the standby underwriters a commitment fee for the securities they commit to purchase on a standby basis. If we do not enter into a standby underwriting arrangement, we may retain a dealer-manager to manage a subscription rights offering for us.

Agents, underwriters, dealers and other persons may be entitled under agreements which they may enter into with us to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, and may be customers of, engage in transactions with or perform services for us in the ordinary course of business.

If so indicated in the applicable prospectus supplement, we will authorize underwriters or other persons acting as our agents to solicit offers by certain institutions to purchase securities from us pursuant to delayed delivery contracts providing for payment and delivery on the date stated in the prospectus supplement. Each contract will be for an amount not less than, and the aggregate amount of securities sold pursuant to such contracts shall not be less nor more than, the respective amounts stated in the prospectus supplement. Institutions with whom the contracts, when authorized, may be made include commercial and savings banks, insurance companies, pension funds, investment companies, educational and charitable institutions and other institutions, but shall in all cases be subject to our approval. Delayed delivery contracts will not be subject to any conditions except that:

the purchase by an institution of the securities covered under that contract shall not at the time of delivery be prohibited under the laws of the jurisdiction to which that institution is subject; and

if the securities are also being sold to underwriters acting as principals for their own account, the underwriters shall have purchased such securities not sold for delayed delivery. The underwriters and other persons acting as our agents will not have any responsibility in respect of the validity or performance of delayed delivery contracts.

Offered securities may also be offered and sold, if so indicated in the prospectus supplement, in connection with a remarketing upon their purchase, in accordance with a redemption or repayment pursuant to their terms, or otherwise, by one or more remarketing firms, acting as principals for their own accounts or as agents for us. Any remarketing firm will be identified and the terms of its agreement, if any, with us and its compensation will be described in the applicable prospectus supplement. Remarketing firms may be deemed to be underwriters in connection with their remarketing of offered securities.

Certain agents, underwriters and dealers, and their associates and affiliates, may be customers of, have borrowing relationships with, engage in other transactions with, or perform services, including investment banking services, for us or one or more of our respective affiliates in the ordinary course of business.

In order to facilitate the offering of the securities, any underwriters may engage in transactions that stabilize, maintain or otherwise affect the price of the securities or any other securities the prices of which may be used to determine payments on such securities. Specifically, any underwriters may overallot in connection with the offering, creating a short position for their own accounts. In addition, to cover overallotments or to stabilize the price of the securities or of any such other securities, the underwriters may bid for, and purchase, the securities or any such other securities in the open market. Finally, in any offering of the securities through a syndicate of underwriters, the underwriting syndicate may reclaim selling concessions allowed to an underwriter or a dealer for distributing the securities in the offering if the syndicate repurchases previously distributed securities in transactions to cover syndicate short positions, in stabilization transactions or otherwise. Any of these activities may stabilize or maintain the market price of the securities above independent market levels. Any such underwriters are not required to engage in these activities and may end any of these activities at any time.

We may engage in at the market offerings into an existing trading market in accordance with Rule 415(a)(4) under the Securities Act. In addition, we may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement so indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities received from us in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions will be an underwriter and, if not identified in this prospectus will be named in the applicable prospectus supplement (or a post-effective amendment). In addition, we may otherwise loan or pledge securities to a financial institution or other third party that in turn may sell the securities short using this prospectus and an applicable prospectus supplement. Such financial institution or other third party may transfer its economic short position to investors in our securities or in connection with a concurrent offering of other securities.

UnderRule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in three business days, unless the parties to any such trade expressly agree otherwise. The applicable prospectus supplement may provide that the original issue date for your securities may be more than three scheduled business days after the trade date for your securities. Accordingly, in such a case, if you wish to trade securities on any date prior to the third business day before the original issue date for your securities, you will be required, by virtue of the fact that your securities initially are expected to settle in more than three scheduled business days after the trade date for your securities, to make alternative settlement arrangements to prevent a failed settlement.

The securities may be new issues of securities and may have no established trading market. The securities may or may not be listed on a national securities exchange. We can make no assurance as to the liquidity of or the existence of trading markets for any of the securities.

In compliance with the guidelines of the Financial Industry Regulatory Authority, Inc., or FINRA, the aggregate maximum discount, commission or agency fees or other items constituting underwriting compensation to be received by any FINRA member or independent broker-dealer will not exceed 8% of the proceeds from any offering pursuant to this prospectus and any applicable prospectus supplement.

The specific terms of anylock-up provisions in respect of any given offering will be described in the applicable prospectus supplement.

The underwriters, dealers and agents may engage in transactions with us, or perform services for us, in the ordinary course of business for which they receive compensation.

The anticipated date of delivery of offered securities will be set forth in the applicable prospectus supplement relating to each offer.

LEGAL MATTERS

Certain legal matters in connection with this offering will behas been passed upon for us by Goodwin Procter LLP, Boston, Massachusetts. Any underwriters will also be advised about the validity of the securities and other legal matters by their own counsel, which will be named in the prospectus supplement.Pepper Hamilton LLP.

EXPERTS

The financial statements incorporated in this Prospectus by reference to the Annual Report on Form10-K of Zafgen, Inc. for the year ended December 31, 20162019 have been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

The audited historical financial statements of Chondrial Therapeutics, Inc. included in Exhibit 99.3 of Larimar Therapeutics, Inc.’s Current Report on Form 8-K/A filed June 26, 2020 have been so incorporated in reliance on the report (which contains an explanatory paragraph describing conditions that raise substantial doubt about Chondrial Therapeutics, Inc.’s ability to continue as a going concern as described in Note 2 to the financial statements) of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

WHERE YOU CAN FIND MORE INFORMATION

This prospectus is part of the registration statement on FormS-3 filed with the SEC under the Securities Act and does not contain all the information set forth in the registration statement. Whenever a reference is made in this prospectus to any of our contracts, agreements or other documents, the reference may not be complete and you should refer to the exhibits that are a part of the registration statement or the exhibits to the reports or other documents incorporated herein by reference for a copy of such contract, agreement or other document.

We are currently subject to the informationreporting requirements of the Exchange Act, and in accordance therewith file annual, quarterly and specialfiles periodic reports, proxy statements and other information with the SEC. You may read and copy any document we file atOur SEC filings are available to you on the SEC’s Public Reference Roomwebsite at 100 F Street, N.E., Washington, D.C. 20549. You may callhttp://www.sec.gov and in the SEC at1-800-SEC-0330 for further information on the operation of the Public Reference Room. These documents also may be accessed through the SEC’s electronic data gathering, analysis and retrieval system, or EDGAR, via electronic means, including the SEC’s home page on the Internet (www.sec.gov).

We have the authority to designate and issue more than one class or series of stock having various preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption. See “Description of Capital Stock.” We will furnish a full statement of the relative rights and preferences of each class or series“Investor Relations” section of our stock which has been so designated and any restrictions on the ownership or transfer of our stock to any stockholder upon request and without charge. Written requests for such copies should be directed to Zafgen, Inc., 175 Portland Street, 4th Floor, Boston, MA 02114, Attention: Secretary, or by telephone request to (617)622-4003.website at www.larimartx.com. Our website is located atwww.zafgen.com. Informationand the information contained on our website isthat site, or connected to that site, are not incorporated by reference into this prospectus and therefore, isare not a part of this prospectus or any accompanying prospectus supplement.prospectus.

INCORPORATION OF CERTAIN INFORMATION BY REFERENCE

The SEC allows us to incorporate“incorporate by reference thereference” information and reportsfrom other documents that we file with it, which means that we can disclose important information to you by referring you to thesethose documents. The information incorporated by reference is an importantconsidered to be part of this prospectus. Information in this prospectus andsupersedes information incorporated by reference that we filed with the SEC prior to the date of this prospectus, while information that we file later with the SEC will automatically update and supersede the information already incorporated by reference.in this prospectus. We are incorporatingincorporate by reference into this prospectus and the registration statement of which this prospectus is a part the information or documents listed below whichthat we have already filed with the SEC:

Our Annual Report onForm 10-K for the year ended December 31, 2019 filed with the SEC on March 5, 2020;

Our Quarterly Report onForm10-Q for the quarter ended March 31, 2020, filed with the SEC on May 7, 2020;

Our Proxy Statement onForm DEFM14-A, filed on April 29, 2020 (the Chondrial Therapeutics, Inc. financial statements and the report thereon from the Company’s independent registered public accounting firm have been superseded by the financial statements and report thereon included in Larimar Therapeutics, Inc.’s Current Report on Form8-K/A filed onJune 26, 2020);

Our Current Reports on Form 8-K and8-K/A filed with the SEC on June 26, 2020,June 2, 2020,April 24, 2020,March 9, 2020 andJanuary 13, 2020 (in each case other than any portions thereof deemed furnished and not filed); and

-21-


The description of our common stock contained in our registration statement onForm8-A (FileNo. 001-36510) filed with the SEC on June 18, 2014, under the Exchange Act, including any amendment or report filed for the purpose of updating such description.

We also incorporate by reference any future filings we make(other than any filings or portions of such reports that are not deemed “filed” under the Exchange Act in accordance with the Exchange Act and applicable SEC rules, including current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that are related to such items unless such Form 8-K expressly provides to the contrary) made with the SEC underpursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including all filingsthose made after the date of the initial filing of thisthe registration statement of which this prospectus is a part and prior to the effectiveness of thisthe registration statement, except as to any portion of any future report or document that is not deemed filed under such provisions, until we sell allfile a post-effective amendment that indicates the termination of the securities:

Annual Report on Form10-K foroffering of the year ended December 31, 2016;

Thesecurities made by this prospectus and will become a part of this prospectus from the date that such documents are filed with the SEC. Information in such future filings updates and supplements the information specifically incorporated by reference into our Annual Report on Form10-K for the year ended December 31, 2016 from our definitive proxy statement on Schedule 14A (other thanprovided in this prospectus. Any statements in any such future filings will automatically be deemed to modify and supersede any information furnished rather than filed), which wasin any document we previously filed with the SEC on April 28, 2017;

Quarterly Reports on Form10-Qthat is incorporated or deemed to be incorporated herein by reference to the extent that statements in the later filed with the SEC for the quarters ended March 31, 2017 and June 30, 2017;

Current Reports on Form8-K filed with the SEC on March 9, 2017, May 4, 2017, May 9, 2017, June 23, 2017 and August 8, 2017; and
document modify or replace such earlier statements.

The description of our common stock contained in our registration statement on Form8-A, which was filed with the SEC on June 18, 2014, including any amendment or report filed for the purpose of updating such description.

Upon request, weWe will provide,furnish without charge to each person, including any beneficial owner, to whomyou, upon written or oral request, a copy of this prospectus is delivered, a copyany or all of the documents incorporated by reference, into this prospectus but not delivered with the prospectus. You may request a copy ofincluding exhibits to these filings, and any exhibits we have specifically incorporated by reference as an exhibit in this prospectus, at no costdocuments by writing or telephoning us at the following address:

Zafgen, Inc., 175 Portland Street, 4th Floor, Boston, MA 02114, Attention: Secretary,address or phone number below. You may also access this information on our website at www.larimartx.com by telephone requestviewing the “Financials & Filings” subsection of the “Investors” menu. No additional information is deemed to (617)622-4003.

This prospectus isbe part of a registration statement we filed with the SEC. We have incorporated exhibits into this registration statement. You should read the exhibits carefully for provisions that may be important to you.

You should rely only on the informationor incorporated by reference or provided ininto this prospectus or any prospectus supplement. We have not authorized anyone to provide you with different information. We are not making an offer of these securities in any state where the offer is not permitted. You should not assume that the information in this prospectus or in the documents incorporated by reference is accurate as of any date other than the date on the front of this prospectus or those documents.prospectus.

Larimar Therapeutics, Inc.

Attention: Corporate Secretary

Three Bala Plaza East, Suite 506

Bala Cynwyd, Pennsylvania, 19004

(484)414-2700

 

$150,000,000-22-


 

 

 

LOGO

LOGO12,860,272 Shares

Common Stock

Preferred Stock

Debt Securities

Warrants

Units

 

 

PROSPECTUSProspectus

 

 

            , 2017

We have not authorized any dealer, salesperson or other person to give any information or represent anything not contained in this prospectus. You must not rely on any unauthorized information. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus does not offer to sell any securities in any jurisdiction where it is unlawful. Neither the delivery of this prospectus, nor any sale made hereunder, shall create any implication that the information in this prospectus is correct after the date hereof.2020

 

 

 


Part II—PART II

INFORMATION NOT REQUIRED IN THE PROSPECTUS

 

Item 14.

Other Expenses of Issuance and Distribution

The following table sets forth an estimate of the fees and expenses payable by Zafgen, Inc. (the “Registrant” or the “Company”)us in connection with the issuance and distribution of the securitiesshares of common stock being registered (other than underwriting discounts and commissions, if any)by this registration statement. None of the expenses listed below are set forth below. Each item listed is estimated,to be borne by any of the selling stockholders named in the prospectus that forms a part of this registration statement. All the amounts shown are estimates, except for the Securities and Exchange Commission, (the “SEC”)or SEC, registration fee.

 

Securities and Exchange Commission registration fee

  $17,385 

FINRA filing fee

   *

Legal fees and expenses

   *

Accounting fees and expenses

   *

Printing fees and expenses

   *

Transfer agent and trustee fees

   *

Miscellaneous

   *
  

 

 

 

Total

  $*
   Amount 

SEC registration fee

  $22,185 

Accounting fees and expenses

  $20,000 

Legal fees and expenses

  $135,000 

Printing and Miscellaneous

  $5,000 

Total

  $$182,185 

 

*Estimated expenses not presently known

Item 15.

Indemnification of Directors and Officers

Section 145 ofWe are governed by the Delaware General Corporation Law, permitsor DGCL. Section 145 of the DGCL provides that a corporation may indemnify any person, including an officer or director, who was or is, or is threatened to be made, a party to any threatened, pending or completed legal action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person was or is an officer, director, employee or agent of such corporation or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation or enterprise. The indemnity may include expenses (including attorneys’ fees), judgments, fines and amounts paid in its charter documents,settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such officer, director, employee or agent acted in good faith and in agreements betweena manner such person reasonably believed to be in, or not opposed to, the corporation’s best interest and, for criminal proceedings, had no reasonable cause to believe that such person’s conduct was unlawful. A Delaware corporation may indemnify any person, including an officer or director, who was or is, or is threatened to be made, a party to any threatened, pending or contemplated action or suit by or in the right of such corporation, under the same conditions, except that such indemnification is limited to expenses (including attorneys’ fees) actually and reasonably incurred by such person, and except that no indemnification is permitted without judicial approval if such person is adjudged to be liable to such corporation. Where an officer or director of a corporation is successful, on the merits or otherwise, in the defense of any action, suit or proceeding referred to above, or any claim, issue or matter therein, the corporation must indemnify that person against the expenses (including attorneys’ fees) which such officer or director actually and its directors and officers, provisions expanding the scope of indemnification beyond that specifically provided by the current law.reasonably incurred in connection therewith.

Our Ninth Amended and Restated Certificate of Incorporation, as amended, or the Charter, provides for the indemnification of directors to the fullest extent permissible under Delaware law. Accordingly, our directors will not be personally liable for monetary damages for breach of their fiduciary duty as directors, except for liabilities:

for any breach of the director’s duty of loyalty to us or our stockholders;

for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;

for unlawful payments of dividends or unlawful stock repurchases or redemptions, as provided under Section 174 of the DGCL; or

for any transaction from which the director derived an improper personal benefit.

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Our amended and restated bylaws, or the Bylaws, provide for the indemnification of officers, directors and third parties acting on our behalf if such persons act in good faith and in a manner reasonably believed to be in and not opposed to our best interest, and, with respect to any criminal action or proceeding, such indemnified party had no reason to believe his or her conduct was unlawful.

We have entered into indemnification agreements with each of our directors and certain of our executive officers. These agreements provide that we will indemnify each of our directors and certain of our executive officers to the fullest extent permitted by law. We intend to enter into indemnification agreements with any new directors and executive officers in the future.

We also maintain a general liability insurance policy which covers certain liabilities of directors and officers of our Company arising out of claims based on acts or omissions in their capacities as directors or officers.

We believe that the limitation of liability provision in the Charter and the indemnification agreements facilitate our ability to continue to attract and retain qualified individuals to serve as directors and officers. The limitation of liability and indemnification provisions in the Charter and Bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even though an action, if successful, might benefit us and our stockholders. A stockholder’s investment may be harmed to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

Item 16.

Exhibits

A list of exhibits filed with this registration statement onForm S-3 is set forth on the Exhibit Index and is incorporated herein by reference.

ExhibitDescription

  2.1

Agreement and Plan of Merger, dated as of December  17, 2019, by and among Zafgen, Inc., Chondrial Therapeutics, Inc., Chondrial Therapeutics Holdings, LLC, and Zordich Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 of the Company’s Current Report on Form8-K (FileNo. 001-36510) filed on December 18, 2019).

  3.1

Ninth Amended and Restated Certificate of Incorporation of Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.) (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form8-K filed on June 24, 2014).

  3.2

Certificate of Amendment of Ninth Amended and Restated Certificate of Incorporation of Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.) related to the Reverse Stock Split, dated May 28, 2020 (incorporated by reference to Exhibit 3.1 of the Company’s Current Report on Form8-K filed on June 2, 2020).

  3.3

Certificate of Amendment of Ninth Amended and Restated Certificate of Incorporation of Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.) related to the Name Change, dated May 28, 2020 (incorporated by reference to Exhibit 3.2 of the Company’s Current Report on Form8-K filed on June 2, 2020).

  3.4

Amended and Restated Bylaws of Larimar Therapeutics, Inc. (formerly known as Zafgen, Inc.) (incorporated by reference to Exhibit 3.2 of the Company’s Current Report on Form8-K filed on June 24, 2014).

  4.1

Form ofPre-Funded Warrant (incorporated by reference to Exhibit 4.1 of the Company’s Current Report on Form8-K filed on June 2, 2020)

  5.1 *

Opinion of Pepper Hamilton LLP

10.1

Securities Purchase Agreement, dated as of May  28, 2020, by and among Larimar Therapeutics, Inc. and the investors listed on the Schedule of Investors attached thereto (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form8-K filed on June 2, 2020).

 

II-1II-2


*

Filed herewith

Item 17.

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 of 1933;

(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 the 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 Securities and Exchange CommissionSEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent 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 the registration statement or any material change to such information in the registration statement;

provided,however, that paragraphs (a)(l)(1)(i), (a)(l)(1)(ii), and (a)(l)(1)(iii) of this sectionabove 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 Securities and Exchange CommissionSEC by the registrant pursuant to Sectionsection 13 or Sectionsection 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is a part of the registration statement;statement.

(2)     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 initialbona fide offering thereof;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;offering.

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(4)     That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

(i)    If the registrant is relying on 430B:

(A)     Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

(ii)(B)     Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(l)(1)(i), (vii), or (x) for the purpose of providing the information required by Sectionsection 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof;thereof.provided, Provided,however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date;date.

(5) That, for the purpose of determining liability of(ii)    If the registrant under the Securities Act of 1933is subject to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

II-2


(i) Any preliminaryRule 430C, each prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(ii) Any free writing prospectus424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the offering prepared by or on behalfregistration statement as of the date it is first used after effectiveness.Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(5)    The undersigned registrant or used or referred to by the undersigned registrant;

(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any other communicationhereby undertakes that, is an offer in the offering made by the undersigned registrant to the purchaser;

(6) 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 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Sectionsection 15(d) of the Securities Exchange Act of 1934) 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 initialbona fide offering thereof;thereof.

(7)(6)    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 foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange CommissionSEC such indemnification is against public policy as expressed in the Securities Act of 1933 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 of 1933 and will be governed by the final adjudication of such issue;

(8) That, for purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act of 1933 shall be deemed to be part of this registration statement as of the time it was declared effective;

(9) That, for the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus 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 initialbona fide offering thereof; and

(10) To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act of 1939 in accordance with the rules and regulations prescribed by the Securities and Exchange Commission under Section 305(b)(2) of the Trust Indenture Act of 1939.

issue.

 

II-3II-4


SIGNATURES

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 FormS-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Boston, Massachusetts,the Unincorporated Community of Bala Cynwyd, Commonwealth of Pennsylvania, on this 9th day of August, 2017.June 26, 2020.

 

ZAFGEN,LARIMAR THERAPEUTICS, INC.

By:

 

/s/ Thomas E. Hughes, Ph.D.CaroleBen-Maimon

 

Thomas E. Hughes, Ph.D.CaroleBen-Maimon, M.D.

President and Chief Executive Officer

KNOW ALL BE THESE PRESENTS, that each person whose signature appears below


POWER OF ATTORNEY

We, the undersigned officers and directors of Larimar Therapeutics, Inc., hereby severally constitutesconstitute and appoints each of Thomas E. Hughes, Ph.D.appoint CaroleBen-Maimon and Patricia L. Allen, and each of them singly, as such person’sMichael Celano, our true and lawfulattorneys-in-factattorney-in-fact and agents,agent, with full power of substitution and resubstitution in her or him for such personher or him and in such person’sher or his name, place and stead, and in any and all capacities, to sign any orand all amendments (including without limitation, post-effective amendments) to this registration statement, (or any registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto and allother documents in connection therewith, with the Securities and Exchange Commission, granting unto each saidattorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite andor necessary to be done in and about the premises, as fullyfull to all intents and purposes as such personshe or he might or could do in person, hereby ratifying and confirming all that any saidattorney-in-fact and agent, or anyher or his substitute or substitutes, of any of them, 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.

 

NameSignature  Title Date

/s/ Thomas E. Hughes, Ph.D.CaroleBen-Maimon

Thomas E. Hughes, Ph.D.CaroleBen-Maimon, M.D.

  

President, Chief Executive Officer and Director

(Principal Executive Officer)

 August 9, 2017June 26, 2020

/s/ Patricia L. AllenMichael Celano

Patricia L. AllenMichael Celano

  

Chief Financial Officer

(Principal Financial and Accounting Officer)

 August 9, 2017June 26, 2020

/s/ Joseph Truitt

Joseph Truitt

Chairman, Board of DirectorsJune 26, 2020

/s/ Peter Barrett Ph.D.

Peter Barrett, Ph.D.

  

Chairman of the Board of Directors

Director
 August 9, 2017June 26, 2020

/s/ Bruce Booth, Ph.D.

Bruce Booth, Ph.D.

Peter Barrett, Ph.D
  

Director

 August 9, 2017

/s/ Robert J. Perez

Robert J. Perez

Director

August 9, 2017

/s/ Frances K. Heller

Frances K. Heller

Director

August 9, 2017

/s/ John L. LaMattina, Ph.D.

John L. LaMattina, Ph.D.

Director

August 9, 2017

II-4


/s/ Cameron Geoffrey McDonough, M.D.

Cameron Geoffrey McDonough, M.D.Thomas O. Daniel

  

Director

 August 9, 2017June 26, 2020
Thomas O. Daniel, M.D.

/s/ Frank E. Thomas

DirectorJune 26, 2020
Frank E. Thomas

  

Director

 August 9, 2017

II-5


EXHIBIT INDEX

Exhibit
No.
/s/ Jonathan Leff

  

Description

Director
June 26, 2020
Jonathan Leff
  1.1*

/s/ Thomas E. Hamilton

  Form of Underwriting Agreement
  3.1Director Ninth Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 of the Registrant’s Form8-K filed on June 24, 2014)26, 2020
  3.2Thomas E. Hamilton  Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 of the Registrant’s Form8-K filed on June 24, 2014)
  4.1 Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.1 of the Registrant’s Registration Statement on FormS-1 (FileNo. 333-195391) filed on June 18, 2014)
  4.2Third Amended and Restated Investors’ Rights Agreement by and among the Registrant and certain of its stockholders dated November 25, 2013 (incorporated by reference to Exhibit 4.2 of the Registrant’s Registration Statement on FormS-1 (FileNo. 333-195391) filed on June 18, 2014)
  4.3Form of indenture for senior debt securities and the related form of senior debt security
  4.4Form of indenture for subordinated debt securities and the related form of subordinated debt security
  4.5*Form of Certificate of Designations
  4.6*Form of Warrant Agreements
  4.7*Form of Unit Certificate
  4.8*Form of Preferred Stock Certificate
  5.1Opinion of Goodwin Procter LLP
12.1Computation of Ratio of Earnings to Fixed Charges
23.1Consent of PricewaterhouseCoopers LLP
23.2Consent of Goodwin Procter LLP (included in Exhibit 5.1 hereto)
24.1Power of Attorney (included on the signature pages to this registration statement)
25.1**FormT-1 Statement of Eligibility of Trustee for Senior Indenture under the Trust Indenture Act of 1939
25.2**FormT-1 Statement of Eligibility of Trustee for Subordinated Indenture under the Trust Indenture Act of 1939

*To be filed if necessary by amendment or as an exhibit to a document to be incorporated or deemed to be incorporated by reference in this registration statement, including a Current Report on Form8-K.
**To be filed by amendment pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939.

II-6