As filed with the Securities and Exchange Commission on July 23, 2020
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Revance Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 77-0551645 | |
(State or other jurisdiction of Incorporation or organization) | (I.R.S. Employer Identification No.) |
7555 Gateway Boulevard
Newark, California 94560
(Address of principal executive offices) (Zip code)
Revance Therapeutics, Inc. Amended and Restated 2014 Inducement Plan
Hint, Inc. 2017 Equity Incentive Plan
(Full titles of the plans)
Mark J. Foley
President and Chief Executive Officer
Revance Therapeutics, Inc.
7555 Gateway Boulevard
Newark, California 94560
(510) 742-3400
(Name and address of agent for service) (Telephone number, including area code, of agent for service)
Copies to:
Gordon K. Ho
Cooley LLP
3175 Hanover Street
Palo Alto, California 94304
(650) 843-5000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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 Exchange Act.
Large accelerated filer | ☐ | Accelerated filer | ☒ | |||
Non-accelerated filer | ☐ | Smaller reporting company | ☒ | |||
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. ☐
CALCULATION OF REGISTRATION FEE
Title of Securities |
Amount to be Registered (1) |
Proposed Maximum Offering Price per Share |
Proposed Maximum Aggregate Offering Price |
Amount of Registration Fee(4) |
||||||||||||
Revance Therapeutics, Inc. Amended and Restated 2014 Inducement Plan |
||||||||||||||||
In respect of available share reserve: Common Stock, par value $0.001 per share |
1,089,400 | $ | 24.19 | (2) | $ | 26,352,586.00 | $ | 3,420.57 | ||||||||
Hint, Inc. 2017 Equity Incentive Plan (the HintMD Plan) |
||||||||||||||||
In respect of available share reserve: Common Stock, par value $0.001 per share |
62,077 | $ | 24.19 | (2) | $ | 1,501,642.63 | $ | 194.91 | ||||||||
In respect of assumed stock options: Common Stock, par value $0.001 per share |
801,600 | $ | 2.20 | (3) | $ | 1,763,520.00 | $ | 228.90 | ||||||||
In respect of assumed restricted stock awards: Common Stock, par value $0.001 per share |
397,269 | $ | 24.19 | (2) | $ | 9,609,937.11 | $ | 1,247.37 | ||||||||
Total: |
2,350,346 | $ | 5,091.75 |
(1) | Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended, (the Securities Act), this Registration Statement shall also cover any additional shares of Registrants common stock that become issuable under the plans set forth herein by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of Registrants common stock, as applicable. |
(2) | Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee, and is based upon the price of $24.19 per share, which was the average of the high and low prices of the Registrants common stock as reported on the Nasdaq Global Market for July 22, 2020 (rounded up to the nearest cent). |
(3) | Estimated in accordance with Rule 457(c) and Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee, and is based upon the weighted average per share exercise price (rounded to nearest cent) for certain outstanding stock options granted under the HintMD Plan. The Registrant has assumed certain of the stock options issued under the HintMD Plan pursuant to the Merger Agreement (as defined below). |
(4) | Determined in accordance with Section 6(b) of the Securities Act at a rate equal to $129.80 per $1,000,000 of the Proposed Maximum Aggregate Offering Price. |
EXPLANATORY NOTE
On July 23, 2020, Revance Therapeutics, Inc. (the Registrant) completed the merger of Heart Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of the Registrant (Merger Sub), with and into Hint, Inc., a Delaware corporation (HintMD), with HintMD surviving as a wholly-owned subsidiary of the Registrant (the Merger) pursuant to that certain Agreement and Plan of Merger, dated as of May 18, 2020 (the Merger Agreement), by and among the Registrant, Merger Sub, HintMD and Fortis Advisors LLC, solely in its capacity as the securityholders representative. Pursuant to the Merger Agreement, each option to purchase shares of HintMD Common Stock that was outstanding and unexercised immediately prior to the effective time of the Merger under the Hint, Inc. 2017 Equity Incentive Plan (the HintMD Plan) (other than options held by former employees or former service providers of HintMD), whether or not vested, was converted into and became an option to purchase shares of the Registrants common stock, and the Registrant assumed the HintMD Plan. The Registrant is filing this Registration Statement for the purpose of registering 1,260,946 shares of the Registrants Common Stock that may be offered or issued pursuant to awards granted or that may in the future be granted under the HintMD Plan.
The Registrant is also filing this Registration Statement for the purpose of registering 1,089,400 additional shares of the Registrants Common Stock that may be offered or issued under the Revance Therapeutics, Inc. Amended and Restated 2014 Inducement Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The information specified in Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participant in the plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.
PART II
ITEM 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed by Registrant with the Securities and Exchange Commission (the SEC) are incorporated by reference into this Registration Statement:
(a) | The Registrants Annual Report on Form 10-K (File No. 001-36297) for the fiscal year ended December 31, 2019, filed with the SEC on February 26, 2020; |
(b) | The information specifically incorporated by reference into the Registrants Annual Report on Form 10-K for the fiscal year ended December 31, 2019, from the Registrants Definitive Proxy Statement on Schedule 14A, filed with the SEC on March 26, 2020; |
(c) | The Registrants Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020, filed with the SEC on May 7, 2020; |
(d) | The Registrants Current Reports on Form 8-K filed with the SEC on January 9, 2020, January 10, 2020, February 7, 2020, February 10, 2020, February 14, 2020, May 15, 2020, May 19, 2020, May 21, 2020, June 1, 2020 and July 23, 2020; |
(e) | All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Registrants Annual Report referred to in (a) above; and |
(f) | The description of the Registrants Common Stock contained in the registration statement on Form 8-A registering the Registrants Common Stock under Section 12 of the Exchange Act filed with the SEC on February 4, 2014, including any amendments or reports filed for purposes of updating such description. |
All other reports and documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement 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 herein and to be a part of this Registration Statement from the date of the filing of such reports and documents.
Any statement contained in a 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 subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
ITEM 4. DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Under Section 145 of the Delaware law, the registrant has broad powers to indemnify its directors and officers against liabilities they may incur in such capacities, including liabilities under the Securities Act.
The registrants certificate of incorporation and bylaws include provisions which (i) eliminate the personal liability of its directors for monetary damages resulting from breaches of their fiduciary duty to the extent permitted by Delaware law and (ii) require the registrant to indemnify its directors, officers, employees and agents to the fullest extent permitted by Delaware law, including circumstances in which indemnification is otherwise discretionary. Pursuant to Section 145 of the Delaware law, a corporation generally has the power to indemnify its present and former directors, officers, employees and agents against expenses incurred by them in connection with any suit to which they are, or are threatened to be made, a party by reason of their serving in such positions so long as they acted in good faith and in a manner they reasonably believed to be in or not opposed to, the best interests of the corporation and, with respect to any criminal action, had no reasonable cause to believe their conduct was unlawful. The registrant believes that these provisions are necessary to attract and retain qualified persons as directors and executive officers. These provisions do not eliminate the directors duty of care, and, in appropriate circumstances, equitable remedies such as injunctive or other forms of non-monetary relief will remain available under Delaware law. In addition, each director will continue to be subject to liability for breach of the directors duty of loyalty to the registrant, for acts or omissions not in good faith or involving intentional misconduct, for knowing violations of law, for acts or omissions that the director believes to be contrary to the registrants best interests or the best interests of the registrants stockholders, for any transaction from which the director derived an improper personal benefit, and any act related to unlawful stock repurchases, redemptions or other distribution or payments of dividends. The provision also does not affect a directors responsibilities under any other law, such as the federal securities law or state or federal environmental laws.
The registrant has entered into indemnity agreements with certain of its directors and executive officers that require the registrant to indemnify such persons against expenses, judgments, fines, settlements and other amounts incurred (including expenses of a derivative action) in connection with any proceeding, whether actual or threatened, to which any such person may be made a party by reason of the fact that such person is or was one of the registrants directors or executive officers, provided, among other things, that such persons conduct was not knowingly fraudulent or deliberately dishonest or constituted willful misconduct. The indemnification agreements also set forth certain procedures that will apply in the event of a claim for indemnification thereunder.
The registrant maintains an insurance policy covering its officers and directors with respect to certain liabilities, including liabilities arising under the Securities Act or otherwise.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS
ITEM 9. UNDERTAKINGS
1. The undersigned registrant hereby undertakes:
(a) 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;
Provided, however, that paragraphs (a)(i) and (a)(ii) 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 SEC by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
(b) 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 herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) 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.
2. The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrants annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plans 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 herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
3. 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 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, 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 Newark, State of California, on July 23, 2020.
REVANCE THERAPEUTICS, INC. | ||
By: | /s/ Mark J. Foley | |
Mark J. Foley | ||
President and Chief Executive Officer |
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mark J. Foley, Tobin C. Schilke and Dwight Moxie, jointly and severally, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her 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 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 connection therewith, 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 their or his substitutes or substitute, 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.
Signatures |
Title |
Date | ||
/s/ Mark J. Foley Mark J. Foley |
President, Chief Executive Officer and Director (Principal Executive Officer) |
July 23, 2020 | ||
/s/ Tobin C. Schilke Tobin C. Schilke |
Chief Financial Officer (Principal Financial and Accounting Officer) |
July 23, 2020 | ||
/s/ Angus C. Russell Angus C. Russell |
Director, Chairman | July 23, 2020 | ||
/s/ Jill Beraud Jill Beraud |
Director | July 23, 2020 | ||
/s/ Robert Byrnes Robert Byrnes |
Director | July 23, 2020 | ||
/s/ Julian S. Gangolli Julian S. Gangolli |
Director | July 23, 2020 | ||
/s/ Phyllis Gardner Phyllis Gardner, M.D. |
Director | July 23, 2020 | ||
/s/ Chris Nolet Chris Nolet |
Director | July 23, 2020 | ||
/s/ Aubrey Rankin Aubrey Rankin |
Director | July 23, 2020 | ||
/s/ Philip J. Vickers Philip J. Vickers, Ph.D. |
Director | July 23, 2020 |