As filed with the Securities and Exchange Commission on April 30, 1998
Registration No. 333-
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
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CONSYGEN, INC.
(Exact Name of Registrant as Specified in its Charter)
Texas 76-0260145
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification Number)
10201 South 51st Street, Suite 140, Phoenix, AZ 85044, (602) 496-4545
(Address, Including Zip Code, and Telephone Number, Including
Area Code, of Registrant's Principal Executive Offices)
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ConSyGen, Inc. 1996 Non-Qualified Stock Option Plan
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ConSyGen, Inc. 1997 Amended and Restated Non-Qualified Stock Option Plan
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(Full title of Plans)
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Ronald I. Bishop
President and Chief Executive Officer
10201 South 51st Street, Suite 140
Phoenix, AZ 85044
(602) 496-4545
(Name, Address and Telephone Number,
Including Area Code, of Agent for Service)
with a copy to:
John G. Nossiff, Jr., Esq.
Brown, Rudnick, Freed & Gesmer
One Financial Center, Boston, Massachusetts 02111
(617) 856-8200
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CALCULATION OF REGISTRATION FEE
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Proposed Proposed
Amount Maximum Maximum Amount of
Title of Each Class of to Be Offering Price Aggregate Registration
Securities to Be Registered Registered Per Share(1) Offering Price(1) Fee
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Common Stock, $. 003 par value 3,500,000 Shares(2) $5.98 $20,930,000 $6,342.42
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(1) Estimated solely for purposes of calculating the registration fee pursuant to Rule 457(c) under the Securities Act of
1933, on the basis of the average of the high and low reported price of the Common Stock of $5.98 on the Nasdaq Stock
Market's SmallCap Market on April 28, 1998.
(2) The Shares being registered hereunder include 2,000,000 shares that may be issued pursuant to the ConSyGen, Inc. 1997
Amended and Restated Non-Qualified Stock Option Plan and 1,500,000 shares that may be issued pursuant to the ConSyGen,
Inc. 1996 Non-Qualified Stock Option Plan. Such presently indeterminable number of additional shares of Common Stock are
also registered hereunder as may be issued in the event of a merger, consolidation, reorganization, recapitalization,
stock dividend, stock split or other similar change in Common Stock.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
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The following documents are hereby incorporated by reference into this
Registration Statement:
(a) The Registrant's Annual Report on Form 10-K for the fiscal
year ended May 31, 1997 filed pursuant to Section 13(a) or
15(d) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act");
(b) The Registrant's quarterly reports on Form 10-Q for the
quarters ended August 31, 1997, November 30, 1997 and February
28, 1998 filed pursuant to Section 13(a) or 15(d) of the
Exchange Act; and
(c) The description of the Registrant's Common Stock contained in
the Registrant's Registration Statement on Form 8-A, as
amended by Amendment No. 1 thereto (Registration No. 0-17598),
filed under the Exchange Act with the Securities and Exchange
Commission.
All documents filed by the Registrant pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act subsequent to the date hereof and prior
to the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities then remaining unsold
shall be deemed to be incorporated by reference in this Registration Statement
and to be a part hereof from the date of filing of such documents.
Item 4. Description of Securities.
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Not Applicable.
Item 5. Interests of Named Experts and Counsel.
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Not Applicable.
Item 6. Indemnification of Directors and Officers.
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The Registrant's Articles of Incorporation, as amended (the "Amended
Articles"), eliminate, subject to certain exceptions, the personal liability of
directors to the Registrant or its stockholders for monetary damages for
breaches of fiduciary duties as directors to the extent permitted by state law.
The Amended Articles do not provide for the elimination of, or any limitation
on, the personal liability of a director (i) for a breach of the director's duty
of loyalty, (ii) engaged in a transaction from which he receives an improper
benefit, (iii) for intentional misconduct or knowing violation of law, (iv)
found not to have acted in good faith, (v) engaged
in an act related to an unlawful stock repurchase or payment of dividend or (vi)
where liability is prescribed by law. These provisions of the Amended Articles
may limit the remedies available to a stockholder in the event of breaches of
any director's duties to such stockholder or the Registrant.
The Registrant's Amended and Restated Bylaws (the "Amended Bylaws")
include provisions for mandatory indemnification of its officers and directors
to the maximum extent provided under the Texas Business Corporation Act
("TBCA"). To the extent permitted under the TBCA, the Amended Bylaws provide
that no officer or director shall be liable to the Company for any action taken
or omitted to be taken by him as a director or officer if such person (i)
exercised the same degree of care and skill as a prudent person would have
exercised under similar circumstances or (ii) took or omitted to take such
action in reliance upon advice of counsel for the Company or upon statements
made or information furnished by directors, officers, employees, or agents of
the Company, which he had no reasonable grounds to disbelieve. In addition, the
Amended Bylaws provide that directors and officers shall be paid or reimbursed,
to the fullest extent provided under the TBCA, for reasonable expenses incurred
by such director or officer in connection with certain proceedings, in advance
of the final disposition of such proceeding.
Article 2.02-1 of the TBCA generally permits a corporation to indemnify
a person who was, is, or is threatened to be a named defendant or respondent in
a proceeding because the person was or is a director or officer if it is
determined that such person (1) conducted himself in good faith; (2) reasonably
believed (a) in the case of conduct in his official capacity as a director or
officer of the corporation, that his conduct was in the corporation's best
interests, or (b) in the case of other situations, that his conduct was at least
not opposed to the corporation's best interests; and (3) in the case of any
criminal proceeding, had no reasonable cause to believe his conduct was
unlawful. In addition, the TBCA requires a corporation to indemnify a director
or officer for any action that such director or officer successfully defended on
the merits.
The Registrant has entered into indemnification agreements with each of
its directors and officers. The indemnification agreements provide that the
Registrant will pay certain amounts incurred by a director or officer in
connection with any civil or criminal action or proceeding and specifically
including actions by or in the name of the Registrant (derivative suits) where
the individual's involvement is by reason of the fact that he is or was a
director or officer. Such amounts include, to the maximum extent permitted by
law, attorney's fees, judgments, civil or criminal fines, settlement amounts and
other expenses customarily included in connection with legal proceedings. Under
the indemnification agreements, a director or officer will not receive
indemnification if he is found not to have acted in good faith in the reasonable
belief that his action was in the best interests of the Registrant.
The Registrant has also purchased and maintains director's and
officer's liability insurance for each of its officers and directors.
Insofar as indemnification for liabilities arising under the Securities
Act of 1933, as amended (the "Securities Act") may be permitted to directors,
officers or controlling persons of
the Registrant pursuant to the Registrant's By-Laws, or otherwise, 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.
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Not Applicable.
Item 8. Exhibits.
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Number Description
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4.1* Specimen Common Stock Certificate (Filed as Exhibit 4.B to the
Registrant's Registration Statement on Form S-8 (File No.
33-22900-FW)).
4.2* Form of Common Stock Purchase Warrant used in connection with the
issuance of warrants to purchase an aggregate of 1,000,000 shares of
the Registrant's Common Stock, $.003 par value (Filed as Exhibit 4.2 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1996).
4.3* Articles of Incorporation of the Registrant, as amended (Filed as
Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q for the
quarter ended August 31, 1997).
4.4* Amended and Restated By-Laws of the Registrant (Filed as Exhibit 3.2 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
March 31, 1998).
4.5* Form of Subscription Agreement used in connection with Rule 506
offering in the aggregate amount of $1,080,000 (Filed as Exhibit 4.5 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1997).
4.6* Form of Subscription Agreement used in connection with Rule 506
offering in the aggregate amount of $882,500 (Filed as Exhibit 4.6 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1997).
4.7* Form of Common Stock Purchase Warrant issued to a consultant, Howard R.
Baer, in August 1997 (Filed as Exhibit 4.7 to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended August 31, 1997).
4.8* Common Stock Purchase Warrant issued to Howard R. Baer's designee,
Kevin C. Baer, in August 1997 (Filed as Exhibit 4.8 to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended August 31, 1997).
4.9* Subscription Agreement used in Rule 506 offering in the aggregate
amount of $5,276,250 (Filed as Exhibit 4.9 to the Registrant's
Registration Statement on Form S-1 (File No. 333-40649)).
4.11* Common Stock Purchase Warrant issued to a consultant's designee,
Irvington International Limited, in November 1997 (Filed as Exhibit
4.11 to the Registrant's Registration Statement on Form S-1 (File No.
333-40649)).
5 Legal Opinion of Brown, Rudnick, Freed & Gesmer.
23.1 Consent of Brown, Rudnick, Freed & Gesmer (contained in its opinion
filed as Exhibit 5).
23.2 Consent of Wolinetz, Gottlieb & Lafazan, P.C.
24 Power of Attorney (included on the Signature Page of this Registration
Statement).
99.1* ConSyGen, Inc. 1996 Non-Qualified Stock Option Plan. (Filed as Exhibit
10.7 to the Registrant's quarterly report on Form 10-Q for the quarter
ended August 31, 1996).
99.2* ConSyGen, Inc. 1997 Amended and Restated Non-Qualified Stock Option
Plan. (Filed as Exhibit 10.8 to the Registrant's Registration Statement
on Form S-1 (File No. 333-40649)).
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* Not filed herewith. In accordance with Rule 411 promulgated pursuant to
the Securities Act, reference is made to the documents previously filed
with the Commission, which are incorporated by reference herein.
Item 9. Undertakings.
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(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;
(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 this Registration Statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
not apply if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each 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 the 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, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities 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 Registrant's Amended Articles of Incorporation,
Amended and Restated By-Laws, or otherwise, the Registrant has been advised that
in the opinion of the Securities and Exchange 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
The Registrant. Pursuant to the requirements of the Securities Act of
1933, as amended, 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 Phoenix, Arizona, on
April 29, 1998.
CONSYGEN, INC.
By: /s/ Ronald I. Bishop
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Ronald I. Bishop
President
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints Ronald I. Bishop and John Stephen Kelly, and each
of them (with full power to each of them to act alone), his true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any or 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 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 might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or any of them, or their
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature Title Date
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/s/ Robert L. Stewart Chairman of the Board April 29, 1998
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Robert L. Stewart
/s/ Ronald I. Bishop President, Chief Executive April 29, 1998
- ------------------------------------ Officer and Director
Ronald I. Bishop (Principal Executive Officer)
/s/ Rajesh K. Kapur Vice President and Chief Financial April 29, 1998
- ------------------------------------ Officer (Principal Financial Officer)
Rajesh K. Kapur
/s/ John Stephen Kelly Vice President and General April 29, 1998
- ------------------------------------ Counsel (Principal Executive Officer)
John Stephen Kelly
/s/ Kenneth Harvey Controller April 29, 1998
- ------------------------------------ (Principal Accounting Officer)
Kenneth Harvey
/s/ Andrew Lee Director April 30, 1998
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Andrew Lee
Director April __, 1998
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Richard L. Ruth
Director April __, 1998
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Daniel G. Queyssac
EXHIBIT INDEX
Exhibit Sequential
Number Page No.
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4.1 Specimen Common Stock Certificate (Filed as Exhibit 4.B to the
Registrant's Registration Statement on Form S-8 (File No. 33-22900-FW)). *
4.2 Form of Common Stock Purchase Warrant used in connection with the
issuance of warrants to purchase an aggregate of 1,000,000 shares of
the Registrant's Common Stock, $.003 par value (Filed as Exhibit 4.2 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1996). *
4.3 Articles of Incorporation of the Registrant, as amended (Filed as
Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q for the
quarter ended August 31, 1997). *
4.4 Amended and Restated By-Laws of the Registrant (Filed as Exhibit 3.2 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
March 31, 1998). *
4.5 Form of Subscription Agreement used in connection with Rule 506
offering in the aggregate amount of $1,080,000 (Filed as Exhibit 4.5 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1997). *
4.6 Form of Subscription Agreement used in connection with Rule 506
offering in the aggregate amount of $882,500 (Filed as Exhibit 4.6 to
the Registrant's Quarterly Report on Form 10-Q for the quarter ended
August 31, 1997). *
4.7 Form of Common Stock Purchase Warrant issued to a consultant, Howard R.
Baer, in August 1997 (Filed as Exhibit 4.7 to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended August 31, 1997). *
4.8 Common Stock Purchase Warrant issued to Howard R. Baer's designee,
Kevin C. Baer, in August 1997 (Filed as Exhibit 4.8 to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended August 31, 1997). *
4.9 Subscription Agreement used in Rule 506 offering in the aggregate
amount of $5,276,250 (Filed as Exhibit 4.9 to the Registrant's
Registration Statement on Form S-1 (File No. 333-40649)). *
4.11 Common Stock Purchase Warrant issued to a consultant's designee,
Irvington International Limited, in November 1997 (Filed as Exhibit
4.11 to the Registrant's Registration Statement on Form S-1 (File No.
333-40649)). *
5 Legal Opinion of Brown, Rudnick, Freed & Gesmer.
23.1 Consent of Brown, Rudnick, Freed & Gesmer. **
23.2 Consent of Wolinetz, Gottlieb & Lafazan, P.C.
24 Power of Attorney. ***
99.1* ConSyGen, Inc. 1996 Non-Qualified Stock Option Plan. (Filed as Exhibit
10.7 to the Registrant's quarterly report on Form 10-Q for the quarter
ended August 31, 1996).
99.2* ConSyGen, Inc. 1997 Amended and Restated Non-Qualified Stock Option
Plan. (Filed as Exhibit 10.8 to the Registrant's Registration Statement
on Form S-1 (File No. 333-40649)).
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* Not filed herewith. In accordance with Rule 411 promulgated pursuant to
the Securities Act of 1933, reference is made to the documents
previously filed with the Commission, which are incorporated by
reference herein.
** Contained in Exhibit 5.
*** Included on the Signature Page of this Registration Statement.