As filed with the Securities and Exchange Commission on June 11, 2020
Registration Statement No. 333-238955
Delaware | | | 46-1537286 |
(State or other jurisdiction of incorporation or organization) | | | (I.R.S. Employer Identification Number) |
Large accelerated filer | | | ☐ | | | | | Accelerated filer | | | ☐ | |
Non-accelerated filer | | | ☒ | | | | | Smaller reporting company | | | ☒ | |
| | | | | | Emerging growth company | | | ☒ |
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, par value $0.0001 per share | | | 4,781,408 | | | $3.51 | | | $16,782,743 | | | $2,179(3) |
(1) | Pursuant to Rule 416 under the Securities Act of 1933, as amended, the shares of common stock being registered hereunder include such indeterminate number of shares of common stock as may be issuable with respect to the shares of common stock being registered hereunder as a result of stock splits, stock dividends or similar transactions. |
(2) | Pursuant to Rule 457(c), calculated on the basis of the average of the high and low prices per share of the registrant’s common stock reported on the Nasdaq Global Market on May 29, 2020, a date within five business days prior to the filing of this registration statement. |
(3) | Previously paid in connection with the initial filing of the Registration Statement. |
| | Before Offering | | | | | After Offering | ||||||||
Name and Address of Selling Stockholder | | | Number of Shares Beneficially Owned | | | Percentage of Shares Beneficially Owned | | | Number of Shares Offered | | | Number of Shares Beneficially Owned(1) | | | Percentage of Shares Beneficially Owned(1) |
Mundipharma AG(2) | | | 4,781,408 | | | 11.6% | | | 4,781,408 | | | — | | | — |
(1) | Assumes the sale of all shares available for sale under this prospectus and no further acquisitions of shares of common stock by the selling stockholder. |
(2) | This figure represents the 4,781,408 shares of common stock issued to Mundipharma AG pursuant to the Purchase Agreement. Jörg Fischer, singly as Director, and each of Rachel Corder, Tobias Fink and Sonja Nagy, jointly as Vice Director, have voting power with respect to the shares held in the name of Mundipharma AG. The registered office address for Mundipharma AG is St. Alban-Rheinweg 74, Basel 4020, Switzerland. |
• | 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 own account; |
• | an exchange distribution in accordance with the rules of the applicable exchange; |
• | privately negotiated transactions; |
• | to the extent permitted by law, 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; |
• | through agreements between broker-dealers and the selling stockholder 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. |
• | prior to the date of the transaction, the board of directors of the corporation approved either the business combination or 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 upon consummation of the transaction, excluding for purposes of determining the number of shares outstanding |
• | on or subsequent to the consummation of the transaction, the business combination is approved by the board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder. |
• | any merger or consolidation involving the corporation and the interested stockholder; |
• | any sale, transfer, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation; |
• | subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; |
• | subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; and |
• | the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. |
• | permit our board of directors to issue up to 10,000,000 shares of preferred stock, with any rights, preferences and privileges as they may designate; |
• | provide that the authorized number of directors may be changed only by resolution adopted by a majority of the authorized number of directors constituting the board of directors; |
• | provide that the board of directors or any individual director may only be removed with cause and the affirmative vote of the holders of at least 66 2/3% of the voting power of all of our then outstanding common stock; |
• | provide that all vacancies, including newly created directorships, may, except as otherwise required by law or subject to the rights of holders of preferred stock as designated from time to time, be filled by the affirmative vote of a majority of directors then in office, even if less than a quorum; |
• | divide our board of directors into three classes; |
• | require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and not be taken by written consent or electronic transmission; |
• | provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner and also specify requirements as to the form and content of a stockholder’s notice; |
• | do not provide for cumulative voting rights (therefore allowing the holders of a majority of the shares of common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose); and |
• | provide that special meetings of our stockholders may be called only by the chairman of the board, our Chief Executive Officer or by the board of directors pursuant to a resolution adopted by a majority of the total number of authorized directors (whether or not there exists any vacancies). |
• |
• | the information specifically incorporated by reference in our Annual Report on Form 10-K for the year ended December 31, 2019 from our definitive proxy statement on Schedule 14A, filed with the SEC on April 29, 2020; |
• |
• | our Current Reports on Form 8-K (other than information furnished rather than filed) filed with the SEC on January 10, 2020, January 22, 2020, February 7, 2020, February 13, 2020, April 1, 2020, April 14, 2020 and May 20, 2020; and |
• | the description of our common stock in our registration statement on Form 8-A filed with the SEC on April 9, 2015, including any amendments or reports filed for the purpose of updating such description. |
Item 14. | Other Expenses of Issuance and Distribution. |
Securities and Exchange Commission Registration Fee | | | $2,179 |
Legal Fees and Expenses | | | $20,000 |
Accountants’ Fees and Expenses | | | $20,000 |
Miscellaneous | | | $7,821 |
Total | | | $50,000 |
Item 15. | Indemnification of Directors and Officers. |
• | any breach of the director’s duty of loyalty to the registrant or its stockholders; |
• | acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; |
• | under Section 174 of the DGCL(regarding unlawful dividends and stock purchases); or |
• | any transaction from which the director derived an improper personal benefit. |
• | the registrant is required to indemnify its directors and executive officers to the fullest extent permitted by the DGCL, subject to very limited exceptions; |
• | the registrant may indemnify its other employees and agents as set forth in the DGCL; |
• | the registrant is required to advance expenses, as incurred, to its directors and executive officers in connection with a legal proceeding to the fullest extent permitted by the DGCL, subject to very limited exceptions; and |
• | the rights conferred in the amended and restated bylaws are not exclusive. |
Exhibit No. | | | Description |
| | Amended and Restated Certificate of Incorporation of the Registrant, as currently in effect (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on April 24, 2015). | |
| | Amended and Restated Bylaws of the Registrant, as currently in effect (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K, filed on April 24, 2015). | |
| | Certificate of Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed on May 21, 2018). | |
4.1 | | | |
| | Form of Common Stock Certificate of the Registrant (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-1 (File No. 333-202740), as amended, originally filed on March 13, 2015). | |
| | Form of Warrant to Purchase Common Stock issued to Pacific Western Bank (incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K, filed on October 3, 2016). | |
| | Form of Common Stock Purchase Warrant for First Private Placement (incorporated by reference to Exhibit 4.1 to the Registrant's Current Report on Form 8-K, filed on May 21, 2018) | |
| | Opinion of Cooley LLP. | |
| | Collaboration and License Agreement, dated September 3, 2019, by and between the Registrant and Mundipharma Medical Company (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q, filed November 8, 2019). | |
| | Stock Purchase Agreement, dated September 3, 2019, by and between the Registrant and Mundipharma AG (incorporated by reference to Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q, filed November 8, 2019). | |
| | Consent of independent registered public accounting firm. | |
| | Consent of Cooley LLP (included in Exhibit 5.1). | |
| | Power of Attorney. |
* | Previously filed. |
(a)(1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: |
(i) | to include any prospectus required by Section 10(a)(3) of the Securities Act; |
(ii) | to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; |
(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; |
(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. |
(4) | That, for the purpose of determining liability under the Securities Act to any purchaser 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. |
(i) | 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) | 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)(1)(i), (vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act 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 the prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. 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. |
(b) | The undersigned registrant undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, |
(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 SEC 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 of the registrant 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. |
| | Cidara Therapeutics, Inc. | ||||
| | | | |||
| | By: | | | /s/ Jeffrey Stein, Ph.D. | |
| | | | Jeffrey Stein, Ph.D. | ||
| | | | President and Chief Executive Officer |
Name | | | Title | | | Date |
| | | | |||
/s/ Jeffrey Stein, Ph.D. | | | President and Chief Executive Officer (Principal Executive Officer) | | | June 11, 2020 |
Jeffrey Stein, Ph.D. | | |||||
| | | | |||
/s/ James Levine | | | Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) | | | June 11, 2020 |
James Levine | | |||||
| | | | |||
/s/ Daniel D. Burgess* | | | Chairman of the Board of Directors | | | June 11, 2020 |
Daniel D. Burgess | | |||||
| | | | |||
/s/ Timothy R. Franson, M.D.* | | | Member of the Board of Directors | | | June 11, 2020 |
Timothy R. Franson, M.D. | | |||||
| | | | |||
/s/ David Gollaher, Ph.D.* | | | Member of the Board of Directors | | | June 11, 2020 |
David Gollaher, Ph.D. | | |||||
| | | | |||
/s/ Chrysa Mineo* | | | Member of the Board of Directors | | | June 11, 2020 |
Chrysa Mineo | | |||||
| | | | |||
/s/ Theodore R. Schroeder* | | | Member of the Board of Directors | | | June 11, 2020 |
Theodore R. Schroeder | |
* | Pursuant to Power of Attorney |
By: | | | /s/ Jeffrey Stein, Ph.D. | | | |
| | Jeffrey Stein, Ph.D. | | |||
| | Attorney-in-Fact | |