As filed with the Securities and Exchange Commission on December 3, 2014
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
iDreamSky Technology Limited
(Exact Name of Registrant as Specified in Its Charter)
| Cayman Islands | Not Applicable | |
(State or Other Jurisdiction of Incorporation or Organization) | (IRS Employer Identification No.) |
16/F, A3 Building, Kexing Science Park
15 Keyuan Road North, Nanshan District
Shenzhen, Guangdong, 518057
People’s Republic of China
(Address of Principal Executive Offices and Zip Code)
2012 Share Incentive Plan
2014 Share Incentive Plan
(Full Title of the Plan)
Law Debenture Corporate Services Inc.
400 Madison Avenue, 4th Floor
New York, NY 10017
(Name and address of agent for service)
+1-212-750-6474
(Telephone number, including area code, of agent for service)
Copies to:
David T. Zhang, Esq.
Benjamin Su, Esq.
Kirkland & Ellis International LLP
c/o 26th Floor, Gloucester Tower,The Landmark
15 Queen’s Road Central
Hong Kong
+852-3761-3318
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ¨ | Accelerated filer | ¨ | |||
| Non-accelerated filer | x (Do not check if a smaller reporting company) | Smaller reporting company | ¨ | |||
CALCULATION OF REGISTRATION FEE
| ||||||||
Title of securities to be registered(1) | Amount to be registered(2) | Proposed maximum offering price per share | Proposed maximum aggregate offering price | Amount of registration fee | ||||
Class A ordinary shares, $0.0001 par value per share | 1,000,000(3) | $0.024(3) | $24,000 | $2.79 | ||||
Class A ordinary shares, $0.0001 par value per share | 1,690,000(3) | $0.048(3) | $81,120 | $9.43 | ||||
Class A ordinary shares, $0.0001 par value per share | 12,920,080(4) | $4.72625(4) | $61,063,528 | $7,095.58 | ||||
Class A ordinary shares, $0.0001 par value per share | 5,179,450(5) | $4.72625(5) | $24,479,376 | $2,844.50 | ||||
Total | 20,789,530(6) | — | $85,648,024 | $9,952.30 | ||||
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| (1) | The shares being registered hereby may be represented by American depositary shares, or ADSs, of iDreamSky Technology Limited (the “Registrant”), each ADS representing four Class A ordinary shares. The Registrant’s ADSs issuable upon deposit of the Class A ordinary shares registered hereby have been registered under a separate registration statement on Form F-6 (Registration No. 333-197632). |
| (2) | This Registration Statement registers Class A ordinary shares issuable pursuant to the Registrant’s 2012 Share Incentive Plan and 2014 Share Incentive Plan (the “Plans”). In accordance with Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement also covers an indeterminate number of additional shares which may be offered and issued under the Plans to prevent dilution from stock splits, stock dividends or similar transactions as provided in the Plans. |
| (3) | These shares are issuable upon exercise of outstanding options granted under the Plans, and the proposed maximum offering price per share represents the exercise price of these options. |
| (4) | The amount to be registered represents restricted shares granted under the Plans and the corresponding proposed maximum offering price per share, which is estimated solely for the purposes of calculating the registration fee under Rule 457(h) and Rule 457(c) under the Securities Act, is based on the average of the high and low prices for the Registrant’s ADSs as quoted on the NASDAQ Global Select Market on November 26, 2014. |
| (5) | These shares are reserved for future award grants under the Plans, and the corresponding proposed maximum offering price per share, which is estimated solely for the purposes of calculating the registration fee under Rule 457(h) and Rule 457(c) under the Securities Act, is based on the average of the high and low prices for the Registrant’s ADSs as quoted on the NASDAQ Global Select Market on November 26, 2014. |
| (6) | Any Class A ordinary shares covered by an award granted under the Plans (or portion of an award) that terminates, expires, or lapses for any reason, or is settled in cash or a form other than the Class A ordinary shares, or is forfeited or repurchased shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Class A ordinary shares which may be issued under the Plans. |
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
| Item 1. | Plan Information* |
| Item 2. | Registrant Information and Employee Plan Annual Information* |
| * | Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 under the Securities Act and the Note to Part I of Form S-8. The documents containing information specified in this Part I will be separately provided to the participants covered by the Plans, as specified by Rule 428(b)(1) under the Securities Act. |
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
| Item 3. | Incorporation of Documents by Reference. |
The following documents filed by the Registrant with the Securities and Exchange Commission (the “Commission”) are incorporated by reference herein:
(a) The Registrant’s prospectus dated August 6, 2014 filed with the Commission on August 7, 2014 pursuant to Rule 424(b)(4) under the Securities Act;
(b) The description of the Registrant’s Class A ordinary shares incorporated by reference in the Registrant’s registration statement on Form 8-A (File No. 001-36572) filed with the Commission on July 28, 2014, including any amendment and report subsequently filed for the purpose of updating that description; and
(c) The Registrant’s report of foreign private issuer on Form 6-K (File No. 001-36572) filed with the Commission on November 25, 2014.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), subsequent to the effective date of this Registration Statement, prior to the filing of a post-effective amendment to this Registration Statement indicating that all securities offered hereby have been sold or deregistering all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such documents. Any statement contained herein or in any document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed to constitute a part of this Registration Statement, except as so modified or superseded.
| Item 4. | Description of Securities. |
Not applicable
| Item 5. | Interests of Named Experts and Counsel. |
Not applicable
| Item 6. | Indemnification of Directors and Officers |
Cayman Islands law does not limit the extent to which a company’s articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences or committing a crime. Under the Registrant’s amended and restated memorandum and articles of association, to the fullest extent permissible under Cayman Islands law every director and officer of the Registrant shall be indemnified against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained by him in connection with the execution or discharge of his duties, powers, authorities or discretions as a director or officer of the Registrant, including without prejudice to the generality of the foregoing, any costs, expenses, losses or liabilities incurred by him in defending (whether successfully or otherwise) any civil proceedings concerning the Registrant or its affairs in any court whether in the Cayman Islands or elsewhere.
Pursuant to the indemnification agreements, the form of which is filed as Exhibit 10.4 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-197246), the Registrant has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being such a director or officer.
The underwriting agreement, the form of which is filed as Exhibit 1.1 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-197246), also provides for indemnification of the Registrant and its officers and directors.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
| Item 7. | Exemption From Registration Claimed |
Not applicable
| Item 8. | Exhibits. |
See the attached Exhibit Index.
| Item 9. | Undertakings |
| (a) | The undersigned Registrant hereby undertakes: |
| (1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: |
| (i) | to include any prospectus required by section 10(a)(3) of the Securities Act 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. |
| (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)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement; and
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
| (b) | The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant’s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
| (c) | Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. |
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 Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Shenzhen, Guangdong Province, People’s Republic of China, on December 3, 2014.
| iDreamSky Technology Limited | ||
| By: | /s/ Michael Xiangyu Chen | |
| Name: | Michael Xiangyu Chen | |
| Title: | Chairman and Chief Executive Officer | |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints, severally and not jointly, Michael Xiangyu Chen and Jun Zou, with full power to act alone, as his or her true and lawful attorney-in-fact, with the power of substitution, for and in such person’s 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 file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact full power and authority to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact 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.
Signature | Title | Date | ||
/s/ Michael Xiangyu Chen | Chairman and Chief Executive Officer | December 3, 2014 | ||
| Name: Michael Xiangyu Chen | (principal executive officer) | |||
/s/ Jun Zou | Chief Financial Officer | December 3, 2014 | ||
| Name: Jun Zou | (principal financial and accounting officer) | |||
/s/ Jeffrey Lyndon Ko | Director and President | December 3, 2014 | ||
| Name: Jeffrey Lyndon Ko | ||||
/s/ Anfernee Song Guan | Director and Chief Technology Officer | December 3, 2014 | ||
| Name: Anfernee Song Guan | ||||
/s/ Steven Xiaoyi Ma | Director | December 3, 2014 | ||
| Name: Steven Xiaoyi Ma | ||||
/s/ Erhai Liu | Director | December 3, 2014 | ||
| Name: Erhai Liu | ||||
/s/ David Wenda Yuan | Director | December 3, 2014 | ||
| Name: David Wenda Yuan | ||||
/s/ Mingyao Wang | Director | December 3, 2014 | ||
| Name: Mingyao Wang | ||||
[Signature Page to Form S-8]
Signature | Title | Date | ||
/s/ Bin Yu | Independent Director | December 3, 2014 | ||
| Name: Bin Yu | ||||
/s/ Ruby Rong Lu | Independent Director | December 3, 2014 | ||
| Name: Ruby Rong Lu | ||||
[Signature Page to Form S-8]
SIGNATURE OF AUTHORIZED REPRESENTATIVE OF THE REGISTRANT
Pursuant to the Securities Act, the undersigned, the duly authorized representative in the United States of the Registrant, has signed this Registration Statement in New York, on December 3, 2014.
| Authorized U.S. Representative | ||||
| By: | /s/ Giselle Manon | |||
| Name: | Giselle Manon | |||
| Title: | Service of Process Officer | |||
| Law Debenture Corporate Services Inc. | ||||
[Signature Page to Form S-8]
IDREAMSKY TECHNOLOGY LIMITED
EXHIBIT INDEX
Exhibit | Description | |
| 4.1 | Amended and Restated Memorandum and Articles of Association of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-197246) filed with the Securities and Exchange Commission) | |
| 4.2 | Registrant’s specimen certificate for Class A ordinary shares (incorporated by reference to Exhibit 4.2 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-197246) filed with the Securities and Exchange Commission) | |
| 4.3 | Deposit Agreement among the Registrant, the The Bank of New York Mellon and owners and holders of the American depositary shares issued thereunder (incorporated by reference to Exhibit 4.3 to the Registrant’s registration statement on Form F-1, as amended (File No. 333-197246) filed with the Securities and Exchange Commission) | |
| 5.1* | Opinion of Maples and Calder regarding the validity of Class A ordinary shares being registered | |
| 10.1 | 2012 Share Incentive Plan (incorporated by reference to Exhibit 10.1 to the Registrant’s registration statement on Form F-1 (File No. 333-197246) filed with the Securities and Exchange Commission) | |
| 10.2 | 2014 Share Incentive Plan (incorporated by reference to Exhibit 10.2 to the Registrant’s registration statement on Form F-1 (File No. 333-197246) filed with the Securities and Exchange Commission) | |
| 23.1* | Consent of PricewaterhouseCoopers Zhong Tian LLP | |
| 23.2* | Consent of Maples and Calder (included in Exhibit 5.1) | |
| 24.1* | Power of Attorney (included on signature page hereto) | |
| * | Filed herewith. |
