As filed with the Securities and Exchange Commission on March 9, 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
ADURO BIOTECH, INC.
(Exact name of Registrant as specified in its charter)
Delaware | 2834 | 94-3348934 | ||
(State or other jurisdiction of incorporation or organization) |
(Primary Standard Industrial Classification Code Number) |
(I.R.S. Employer Identification Number) |
740 Heinz Avenue
Berkeley, CA 94710
(510) 848-4400
(Address, including zip code and telephone number, of Registrants principal executive offices)
Aduro Biotech, Inc. 2015 Equity Incentive Plan
Stephen T. Isaacs
Chairman, President and Chief Executive Officer
Aduro Biotech, Inc.
740 Heinz Avenue
Berkeley, California 94710
(510) 848-4400
(Name, address, including zip code and telephone number, including area code, of agent for service)
Copies to:
Alan C. Mendelson
Kathleen M. Wells
Latham & Watkins LLP
140 Scott Drive
Menlo Park, California 94025
(650) 328-4600
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 to be Registered |
Amount to be Registered (1) |
Proposed Offering Price |
Proposed Maximum Aggregate Offering Price |
Amount of Registration Fee | ||||
Common Stock, $0.0001 par value per share |
||||||||
Aduro Biotech, Inc. 2015 Equity Incentive Plan |
3,229,427 (2) | $3.12 (3) | $10,075,812.24 | $1,307.84 | ||||
Total |
3,229,427 | $10,075,812.24 | $1,307.84 | |||||
| ||||||||
|
(1) | Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended, or the Securities Act, this Registration Statement shall also cover any additional shares of Registrants common stock that become issuable under the plan set forth herein by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected that results in an increase to the number of outstanding shares of Registrants common stock, as applicable. |
(2) | Represents shares of common stock that were automatically added to the shares authorized for issuance under the Registrants 2015 Equity Incentive Plan, as amended (the 2015 Plan), on January 1, 2020 pursuant to an evergreen provision contained in the 2015 Plan. Pursuant to such provision, the number of shares reserved for issuance under the 2015 Plan automatically increases on January 1 of each year, starting on January 1, 2016 and continuing through (and including) January 1, 2025 by 4% of the total number of shares of the Registrants capital stock outstanding on December 31 of the preceding fiscal year, or a lesser number of shares determined by the Registrants board of directors. |
(3) | Estimated in accordance with Rules 457(c) and (h) solely for the purpose of calculating the registration fee on the basis of $3.12 per share, the average of the high and low prices of the Registrants common stock on March 3, 2020 as reported on The Nasdaq Global Select Market. |
EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed for the purpose of increasing the number of securities of the same class as other securities for which a Registration Statement on Form S-8 relating to the same benefit plans is effective. The Registrant previously registered shares of its Common Stock for issuance under the 2015 Plan under Registration Statements on Form S-8 filed with the Securities and Exchange Commission on April 20, 2015 (File No. 333-203508), March 8, 2016 (File No. 333-210016), March 1, 2017 (File No. 333-216373), March 1, 2018 (File No. 333-223382) and February 27, 2019 (File No. 333-229915). The Registrant is hereby registering an additional 3,229,427 shares of its Common Stock issuable under the 2015 Plan. Pursuant to General Instruction E to Form S-8, this Registration Statement hereby incorporates by reference the contents of the Registration Statements referenced above.
PART II
ITEM 3. | INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE |
The following documents filed by the Registrant with the SEC are incorporated by reference into this Registration Statement:
(a) The contents of the earlier registration statements on Form S-8 relating to the 2015 Plan, previously filed with the SEC on April 20, 2015 (File No. 333-203508), March 8, 2016 (File No. 333-210016), March 1, 2017 (File No. 333-216373), March 1, 2018 (File No. 333-223382) and February 27, 2019 (File No. 333-229915).
(b) The Registrants Annual Report on Form 10-K for the year ended December 31, 2019, which includes audited financial statements for the Registrants latest fiscal year, filed with the SEC on March 9, 2020.
(c) The Registrants Current Reports on Form 8-K filed with the SEC on January 10, 2020, January 13, 2020 and January 23, 2020.
(d) The description of the Registrants common stock which is contained in a registration statement on Form 8-A filed on April 10, 2015 (File No. 001-37345) under the Securities Exchange Act of 1934, as amended, or the Exchange Act, including any amendment or report filed for the purpose of updating such description.
(e) 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 8. | EXHIBITS |
(1) | Filed as Exhibit 3.3 to Registrants Registration Statement on Form S-1 (File No. 333-202667), filed with the Securities and Exchange Commission on April 6, 2015, and incorporated herein by reference. |
(2) | Filed as Exhibit 3.5 to Registrants Registration Statement on Form S-1 (File No. 333-202667), filed with the Securities and Exchange Commission on April 6, 2015, and incorporated herein by reference. |
(3) | Filed as Exhibit 4.1 to Registrants Registration Statement on Form S-1 (File No. 333-202667), filed with the Securities and Exchange Commission on April 6, 2015, and incorporated herein by reference. |
(4) | Filed as Exhibit 10.7 to Registrants Registration Statement on Form S-1 (File No. 333-202667), filed with the Securities and Exchange Commission on April 6, 2015, and incorporated herein by reference. |
(5) | Filed as Exhibit 10.8 to Registrants Registration Statement on Form S-1 (File No. 333-202667), filed with the Securities and Exchange Commission on April 6, 2015, and incorporated herein by reference. |
(6) | Filed as Exhibit 10.1 to Registrants Current Report on Form 8-K (File No. 001-37345), filed with the Securities and Exchange Commission on September 14, 2016, and incorporated herein by reference. |
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 Berkeley, State of California, on this 9th day of March, 2020.
ADURO BIOTECH, INC. | ||
By: | /s/ Stephen T. Isaacs | |
Stephen T. Isaacs | ||
Chairman, President and Chief Executive Officer |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Stephen T. Isaacs and William G. Kachioff, and each or any one of them, as his or her true and lawful attorney-in-fact and agent, each 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, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature | Title | Date | ||
/s/ Stephen T. Isaacs Stephen T. Isaacs |
Chairman, President and Chief Executive Officer (principal executive officer) |
March 9, 2020 | ||
/s/ William G. Kachioff William G. Kachioff |
Interim Chief Financial Officer (principal financial and accounting officer) |
March 9, 2020 | ||
/s/ William M. Greenman William M. Greenman |
Director |
March 9, 2020 | ||
/s/ Ross Haghighat Ross Haghighat |
Director |
March 9, 2020 | ||
/s/ Frank Karbe Frank Karbe |
Director |
March 9, 2020 | ||
/s/ David Mack David Mack |
Director |
March 9, 2020 | ||
/s/ Stephanie Monaghan OBrien Stephanie Monaghan OBrien |
Director |
March 9, 2020 | ||
/s/ Stephen A. Sherwin Stephen A. Sherwin |
Director |
March 9, 2020 |
Exhibit 5.1
March 9, 2020
|
140 Scott Drive | |||
Menlo Park, California 94025 | ||||
Tel: +1.650.328.4600 Fax: +1.650.463.2600 www.lw.com | ||||
FIRM / AFFILIATE OFFICES | ||||
Beijing | Moscow | |||
Boston | Munich | |||
Brussels | New York | |||
Century City | Orange County | |||
Chicago | Paris | |||
Dubai | Riyadh | |||
Düsseldorf | San Diego | |||
Frankfurt | San Francisco | |||
Hamburg | Seoul | |||
Hong Kong | Shanghai | |||
Houston | Silicon Valley | |||
London | Singapore | |||
Los Angeles | Tokyo | |||
Madrid | Washington, D.C. | |||
Milan |
Aduro Biotech, Inc.
740 Heinz Avenue
Berkeley, CA 94110
Re: Registration Statement on Form S-8: 3,229,427 shares of common stock, par value $0.0001 per share
Ladies and Gentlemen:
We have acted as special counsel to Aduro Biotech, Inc., a Delaware corporation (the Company), in connection with the registration by the Company of 3,229,427 shares of common stock of the Company, par value $0.0001 per share (the Shares), issuable pursuant to the Companys 2015 Equity Incentive Plan (the Plan).
The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the Securities Act), filed with the Securities and Exchange Commission (the Commission) on March 9, 2020 (the Registration Statement). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the prospectus forming a part thereof, other than as expressly stated herein with respect to the issuance of the Shares.
As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the DGCL), and we express no opinion with respect to any other laws.
Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by and pursuant to the Plan, and assuming in each case that the individual issuances, grants or awards under the Plan are duly authorized by all necessary corporate action
March 9, 2020
Page 2
of the Company and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plan (and the agreements and awards duly adopted thereunder and in accordance therewith), the issuance and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and non-assessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL.
This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.
Very truly yours,
/s/ Latham & Watkins LLP
Exhibit 23.2
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report relating to the consolidated financial statements of Aduro Biotech, Inc. and subsidiaries (the Company), dated March 9, 2020, appearing in the Annual Report on Form 10-K of the Company for the year ended December 31, 2019.
/s/ Deloitte & Touche
San Francisco, California
March 9, 2020