As filed with the Securities and Exchange Commission on August 8, 2022
Registration No. 333-264474
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 4 to
FORM S-1
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Mill City Ventures III, Ltd.
(Exact name of registrant as specified in its charter)
| Minnesota | | 6153 | | 90-0316551 |
(State or other jurisdiction of incorporation or organization). | | (Primary Standard Industrial Classification Code
Number) | | (I.R.S. Employer Identification Number) |
1907 Wayzata Boulevard, Suite 205
Wayzata, MN 55391
Telephone: (952) 479-1923
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Douglas M. Polinsky
Chief Executive Officer
1907 Wayzata Boulevard, Suite 205
Wayzata, MN 55391
Telephone: (952) 479-1923
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
Joseph M. Lucosky, Esq. Lahdan S. Rahmati, Esq. | Christopher J. Bellini, Esq. Seth Popick, Esq. |
| Lucosky Brookman LLP | Cozen O’Connor P.C. |
| 101 Wood Avenue South, 5th Floor | 33 South 6th Street, Suite 3800 |
| Woodbridge, New Jersey 08830 | Minneapolis, Minnesota 55402 |
| (732) 395-4400 | (612) 260-9000 |
Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement.
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 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, 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. ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act of 1934.
| Large accelerated filer ¨ | Accelerated filer ¨ |
| Non-accelerated filer x | Smaller reporting company x |
| | 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. ¨
In accordance with Rule 416(a) under the Securities Act, the registrant is also registering hereunder an indeterminate number of shares that may be issued and resold resulting from stock splits, stock dividends or similar transactions.
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 8(a) of the Securities Act or 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.
EXPLANATORY NOTE
This amendment is being filed to revise Item 13. Other Expenses of Issuance and Distribution and file Exhibit 5.1 Opinion regarding legality.
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 13. Other Expenses of Issuance and Distribution.
The following table sets forth the costs and expenses payable in connection with the sale and distribution of the securities being registered. All amounts are estimated except the SEC registration fee and FINRA filing fee. Except as otherwise noted, all the expenses below will be paid by us.
| SEC registration fee | | $ | 1,000 | |
| FINRA fee | | | 2,225 | |
| Nasdaq listing and filing fees | | | 50,000 | |
| Transfer agent fee | | | 5,000 | |
| Printing expenses | | | 15,000 | |
| Legal fees and expenses | | | 300,000 | |
| Accounting fees and expenses | | | 30,000 | |
| Miscellaneous expenses | | | 46,775 | |
| Total | | $ | 450,000 | |
Item 16. Exhibits and Financial Statements.
We have filed the exhibits listed on the accompanying Exhibit Index of this registration statement and below in this Item 16:
EXHIBIT INDEX
| * | Management contract or compensatory plan or arrangement |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Minneapolis, State of Minnesota on August 8, 2022.
| | MILL CITY VENTURES III, LTD. |
| | | |
| | By: | /s/ Douglas M. Polinsky |
| | | Douglas M. Polinsky |
| | | Chief Executive Officer (Principal Executive Officer) |
| | | |
| | By: | /s/ Joseph A. Geraci, II |
| | | Joseph A. Geraci, II |
| | | Chief Financial Officer (Principal Financial and Accounting Officer) |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints Douglas M. Polinsky, his true and lawful attorneys-in-fact and agents with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to sign any registration statement for the same offering covered by the Registration Statement that is to be effective upon filing pursuant to Rule 462(b) promulgated under the Securities Act, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done or 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.
| Signature | | Title | | Date |
| | | | | |
| /s/ Douglas M. Polinsky | | Chief Executive Officer and Chairman | | August 8, 2022 |
| Douglas M. Polinsky | | | | |
| | | | | |
| /s/ Joseph A. Geraci, II | | Chief Financial Officer and Director | | August 8, 2022 |
| Joseph A. Geraci, II | | | | |
| | | | | |
| /s/ Lyle A. Berman | | Director | | August 8, 2022 |
| Lyle A. Berman | | | | |
| | | | | |
| /s/ Howard P. Liszt | | Director | | August 8, 2022 |
| Howard P. Liszt | | | | |
| | | | | |
| /s/ Laurence S. Zipkin | | Director | | August 8, 2022 |
| Laurence S. Zipkin | | | | |
