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Delaware
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2836
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38-3982704
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(State or other jurisdiction of
incorporation or organization) |
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(Primary Standard Industrial
Classification Code Number) |
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(I.R.S. Employer Identification No.)
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Yvan-Claude Pierre
Marianne C. Sarrazin Pia Kaur Cooley LLP 1114 Avenue of the Americas New York, New York 10036 (212) 479-6000 |
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Lawrence A. Kenyon
Outlook Therapeutics, Inc. 7 Clarke Drive Cranbury, New Jersey 08512 (609) 619-3990 |
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Jack Hogoboom
Lowenstein Sandler LLP 1251 Avenue of the Americas New York, NY 10020 (212) 262-6700 |
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| Large accelerated filer ☐ | | | Accelerated filer ☐ | | | Non-accelerated filer ☐ | | | Smaller reporting company ☒ | |
| | | | | | | | | | Emerging growth company ☒ | |
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Title of Each Class of Securities to be Registered
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Proposed Maximum
Aggregate Offering Price(1) |
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Amount of
Registration Fee(3) |
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Common Stock, $0.01 par value per share(2)
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| | | $ | 25,000,000 | | | | | $ | 3,030 | | |
Common Stock Purchase Warrants and Shares of Common Stock, $0.01 par value per share, underlying Common Stock Purchase Warrants(2)
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| | | $ | 50,000,000 | | | | | $ | 6,060 | | |
Total | | | | $ | 75,000,000 | | | | | $ | 9,090(3) | | |
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Per Share and
Accompanying Warrants |
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Total
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Price to the public
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| | | $ | | | | | $ | | | ||
Underwriting discount(1)
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| | | $ | | | | | | $ | | | |
Proceeds to us (before expenses)
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| | | $ | | | | | | $ | | | |
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As of December 31, 2018
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Actual
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Pro Forma
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Pro Forma
As Adjusted(1) |
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Cash
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| | | $ | 227,716 | | | | | $ | 6,722,170 | | | | | $ | 29,522,170 | | |
Debt obligations, current and long term
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| | | | 13,814,108 | | | | | | 11,928,533 | | | | | | 11,928,533 | | |
Convertible preferred stock: | | | | | |||||||||||||||
Series A-1 convertible preferred stock, par value
$0.01 per share; 200,000 shares authorized, 61,708 shares issued and outstanding actual, pro forma and pro forma as adjusted |
| | | | 4,884,924 | | | | | | 4,884,924 | | | | | | 4,884,924 | | |
Stockholders’ equity (deficit): | | | | | |||||||||||||||
Common stock, par value $0.01 per share; 200,000,000 shares authorized and 10,636,473 shares issued and outstanding, actual; 11,759,022 shares issued and outstanding, pro forma; and 15,850,675 shares issued and outstanding, pro forma as adjusted
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| | | | 106,365 | | | | | | 117,590 | | | | | | 158,507 | | |
Additional paid-in capital
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| | | | 203,237,836 | | | | | | 211,628,579 | | | | | | 234,387,662 | | |
Accumulated deficit
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| | | | (229,698,465) | | | | | | (229,698,465) | | | | | | (229,698,465) | | |
Total stockholders’ equity (deficit)
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| | | | (26,354,264) | | | | | | (17,952,296) | | | | | | 4,847,704 | | |
Total capitalization
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| | | $ | (7,655,232) | | | | | $ | (1,138,839) | | | | | $ | 21,661,161 | | |
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Assumed public offering price per share and accompanying warrants
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| | | | | | | | | $ | 6.11 | | |
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Pro forma net tangible book deficit per share
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| | | $ | (1.53) | | | | | | | | |
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Increase in pro forma net tangible book value per share attributable to new investors
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| | | | 1.84 | | | | | | | | |
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Pro forma as adjusted net tangible book value per share after this offering
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| | | | | | | | | | 0.31 | | |
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Dilution per share and accompanying warrants to new investors
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| | | | | | | | | $ | 5.80 | | |
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Underwriter
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Number
of Shares |
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Number of
15-Month Warrants |
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Number of
5-Year Warrants |
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Oppenheimer & Co. Inc.
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Aegis Capital Corporation
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Total
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Per Share and
Accompanying Warrants |
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Total
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Combined public offering price
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| | | $ | | | | | $ | | | ||
Underwriting discount
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| | | $ | | | | | | $ | | | |
Proceeds to us (before expenses)
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| | | $ | | | | | | $ | | | |
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Amount
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SEC registration fee
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| | | $ | 9,090 | | |
FINRA filing fee
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| | | | 11,750 | | |
Accountant’s fees and expenses
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| | | | 100,000 | | |
Legal fees and expenses
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| | | | 400,000 | | |
Transfer and warrant agent’s fees and expenses
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| | | | 8,000 | | |
Printing and engraving expenses
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| | | | 30,000 | | |
Miscellaneous
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| | | | 16,160 | | |
Total expenses
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| | | $ | 575,000 | | |
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Signatures
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Title
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Date
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*
Ralph H. Thurman
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| | Executive Chairman | | |
April 9, 2019
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/s/ Lawrence A. Kenyon
Lawrence A. Kenyon
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| | President and Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director (Principal Executive, Financial and Accounting Officer) |
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April 9, 2019
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*
Yezan Haddadin
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| | Director | | |
April 9, 2019
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*
Kurt J. Hilzinger
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| | Director | | |
April 9, 2019
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*
Pankaj Mohan, Ph.D.
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| | Director | | |
April 9, 2019
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*
Faisal G. Sukhtian
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| | Director | | |
April 9, 2019
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*
Joe Thomas
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| | Director | | |
April 9, 2019
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*
Joerg Windisch, Ph.D.
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| | Director | | |
April 9, 2019
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* By: /s/ Lawrence A. Kenyon
Lawrence A. Kenyon
Attorney-in-Fact |
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