As filed with the Securities and Exchange Commission on April 1, 2019
Registration No. 333-______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
_______________
ENDOLOGIX, INC.
(Exact name of registrant as specified in its charter)
Delaware
68-0328265
(State of incorporation)
(I.R.S. Employer Identification Number)
2 Musick
Irvine, California 92618
(Address of Principal Executive Offices)
Endologix, Inc. 2015 Stock Incentive Plan, as amended
Endologix, Inc. 2017 Inducement Stock Incentive Plan, as amended
(Full title of the Plan)
Jeremy Hayden
General Counsel
Endologix, Inc.
2 Musick
Irvine, California 92618
(949) 595-7200
(Name, address and telephone number of agent for service)
Copy to:
Ryan C. Wilkins
Stradling Yocca Carlson & Rauth, P.C.
660 Newport Center Drive, Suite 1600
Newport Beach, California 92660
(949) 725-4000
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 Securities and Exchange Act of 1934, as amended.
Large accelerated filer o
 
 
 
Accelerated filer þ
Non-accelerated filer o
 
(Do not check if a smaller reporting company)
 
Smaller reporting company o
 
 
 
 
Emerging growth company o





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. o
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities to be
Registered
Amount to be Registered (1)
Proposed Maximum Offering
Price Per Share
Proposed Maximum
Aggregate Offering Price
Amount of Registration Fee
Common Stock, par value $0.001 per share
 
 
 
 
Shares issued on December 30, 2018 under the 2015 Plan
240,113 (2)
$7.445 (11)
$1,787,641.29
$216.66
Shares issued on January 30, 2019 under the 2015 Plan
80,793 (3)
$7.539 (12)
$609,098.43
$73.83
Shares issued on January 31, 2019 under the 2015 Plan
39,241 (4)
$7.575 (13)
$297,250.58
$36.03
Shares issued on February 13, 2019 under the 2015 Plan
40,000 (5)
$5.803 (14)
$232,120.00
$28.13
Shares remaining to be issued under the 2015 Plan
199,853 (6)
$6.605 (18)
$1,320,029.07
$159.99
Shares issued on January 7, 2019 under the 2017 Plan
19,699 (7)
$6.352 (15)
$125,128.05
$15.17
Shares issued on January 7, 2019 under the 2017 Plan
35,000 (8)
$6.352 (16)
$220,320.00
$26.70
Shares issued on January 31, 2019 under the 2017 Plan
43,450 (9)
$7.575 (17)
$329,133.75
$39.89
Shares remaining to be issued under the 2017 Plan
101,851 (10)
$6.605 (18)
$672,725.86
$81.53
Total
800,000
 
$5,593,447.03
$677.93

(1)  
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “ Securities Act ”), this Registration Statement shall also cover any additional shares of the registrant’s Common Stock, par value $0.001 per share (“ Common Stock ”), that become issuable under the Endologix, Inc. Amended and Restated 2015 Stock Incentive Plan, as amended (the “ 2015 Plan ”) or the Endologix 2017 Inducement Stock Incentive Plan, as amended (the “ 2017 Plan ”), by reason of any stock dividend, stock split, recapitalization or any similar transaction effected without the receipt of consideration that results in an increase in the number of the outstanding shares of Common Stock. Information in the table relating to the number of shares and price per share has been adjusted to reflect the impact of the 1-for-10 reverse stock split of the issued and outstanding shares of Common Stock, which was effective March 5, 2018.
(2)  
Represents 240,113 shares of Common Stock reserved for issuance pursuant to restricted stock unit awards issued on December 30, 2018 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2015 Plan.
(3)  
Represents 80,793 shares of Common Stock reserved for issuance pursuant to stock option awards issued on January 30, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2015 Plan.
(4)  
Represents 39,241 shares of Common Stock reserved for issuance pursuant to restricted stock unit awards issued on January 31, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2015 Plan.





(5)  
Represents 40,000 shares of Common Stock reserved for issuance pursuant to stock option awards issued on February 13, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2015 Plan.
(6)  
Represents 600,000 additional shares of Common Stock reserved for issuance pursuant to the 2015 Plan minus the shares reserved for issuance pursuant to the equity awards referenced in footnotes 2, 3, 4 and 5.
(7)  
Represents 19,699 shares of Common Stock reserved for issuance pursuant to stock option awards issued on January 7, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2017 Plan.
(8)  
Represents 35,000 shares of Common Stock reserved for issuance pursuant to restricted stock unit awards issued on January 7, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2017 Plan.
(9)  
Represents 43,450 shares of Common Stock reserved for issuance pursuant to stock option awards issued on January 31, 2019 following stockholder approval of an increase in the number of shares of Common Stock reserved under the 2017 Plan.
(10)  
Represents 200,000 additional shares of Common Stock reserved for issuance pursuant to the 2017 Plan minus the shares reserved for issuance pursuant to the equity awards referenced in footnotes 7, 8 and 9.
(11)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $7.445 per share, which represents the grant date stock price of the restricted stock unit awards granted on January 30, 2019, as described in footnote 2.
(12)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $7.539 per share, which represents the exercise price of the stock option awards granted on January 30, 2019, as described in footnote 3.
(13)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $7.575 per share, which represents the grant date stock price of the restricted stock unit awards granted on January 31, 2019, as described in footnote 4.
(14)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $5.803 per share, which represents the exercise price of the stock option awards granted on February 13, 2019, as described in footnote 5.
(15)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $6.352 per share, which represents the exercise price of the stock option awards granted on January 7, 2019, as described in footnote 7.
(16)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $6.352 per share, which represents the grant date stock price of the restricted stock unit awards granted on January 7, 2019, as described in footnote 8.
(17)  
Estimated pursuant to Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee on the basis of $7.575 per share, which represents the exercise price of the stock option awards granted on January 31, 2019, as described in footnote 9.
(18)  
Estimated pursuant to Rule 457(c) and Rule 457(h) of the Securities Act, solely for purpose of calculating the registration fee, which is the average of the high and low sales price of the Common Stock as reported on the NASDAQ Global Select Market on March 27, 2019.









EXPLANATORY NOTE
This Registration Statement on Form S-8 (the “ Registration Statement ”) is being filed for the purpose of registering an additional (i) 600,000 shares of the common stock, par value $0.001 per share (“ Common Stock ”), of Endologix, Inc., a Delaware corporation (the “ Registrant ”), reserved for issuance under the Endologix, Inc. Amended and Restated 2015 Stock Incentive Plan, as amended (the “ 2015 Plan ”), and (ii) 200,000 shares of Common Stock reserved for issuance under the Endologix 2017 Inducement Stock Incentive Plan, as amended (the “ 2017 Plan ” and together with the 2015 Plan, the “ Plans ”). The contents of the Registrant’s registration statements on Form S-8 filed with the Securities and Exchange Commission (the “ Commission ”) on August 7, 2015 (File No. 333-206208), November 10, 2016 (File No. 333-214537), August 7, 2017 (File No. 333-219758), November 7, 2017 (333-221401) and August 9, 2018 (333-226746), with respect to the Plans, are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8.






PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.      Incorporation of Documents by Reference.
The following documents, which have been filed by the Registrant with the Commission, are incorporated by reference in this Registration Statement (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”)):
•
the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the Commission on April 1, 2019 (the “ Annual Report ”);
•
the Registrant’s Definitive Proxy Statement on Schedule 14A (Revised), filed with the Commission on April 30, 2018;
•
all other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Annual Report; and
•
the description of the Common Stock contained in the Registrant’s registration statement on Form 8-A, filed with the Commission on June 18, 1996, including any amendment or report filed for the purpose of updating such description.
All documents that the Registrant subsequently files under Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or 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 (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Exchange Act).
Any statement contained in a document incorporated or deemed to be incorporated herein by reference 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 other subsequently filed document which also is or 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.
Section 145 of the Delaware General Corporation Law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a director, officer, employee or agent of the corporation or another enterprise if serving at the request of the corporation. Depending on the character of the proceeding, a corporation may indemnify against expenses (including attorney’s fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding if the person indemnified acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. In the case of an action by or in the right of the corporation, no indemnification may be made in respect to any claim, issue or matter





as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine that despite the adjudication of liability, but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses that the court shall deem proper. Section 145 further provides that to the extent a present or former director or officer of a corporation has been successful in the defense of any action, suit or proceeding referred to above, or in defense of any claim, issue or matter therein, he or she shall be indemnified against expenses (including attorney’s fees) actually and reasonably incurred by him or her in connection therewith.
The Registrant’s amended and restated certificate of incorporation limits, to the maximum extent permitted by Delaware law, the personal liability of directors for monetary damages for breach of their fiduciary duties as a director. The Registrant’s amended and restated bylaws provide that the Registrant shall indemnify its officers and directors and may indemnify its employees and other agents to the fullest extent permitted by Delaware law.
The Registrant’s directors and officers are covered by insurance policies indemnifying against certain liabilities, including certain liabilities arising under the Securities Act, which might be incurred by them in such capacities and against which they cannot be indemnified by the Registrant. The Registrant has entered into indemnification agreements with all of its executive officers and directors which provide indemnification under certain circumstances for acts and omissions in the course of their employment with the Registrant.
Item 7.      Exemption from Registration Claimed.
Not applicable.
Item 8.      Exhibits.
The exhibits listed on the Exhibit Index immediately following the signature page to this Registration Statement are filed as part of this Registration Statement, and the contents of the Exhibit Index are incorporated herein by reference.
Item 9. Undertakings.
(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 (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 Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the Registration Statement) ; and
(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)(1)(i) and (a)(1)(ii) of this section 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 Commission by the Registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference 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.
(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 Exchange Act (and, where applicable, each filing of an employee benefit plan’s 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 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 foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the 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
Pursuant to the requirements of the Securities Act, 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 Irvine, State of California, on the 1 st day of April, 2019 .
ENDOLOGIX, INC.
By: /s/ John Onopchenko            
John Onopchenko
Chief Executive Officer

POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each individual whose signature appears below constitutes and appoints John Onopchenko and Vaseem Mahboob, and each of them. acting individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution, 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 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 his or her substitute or substitutes, may lawfully do or cause to be done or by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.





   Signature
 
Title
 
Date
 
 
 
/s/ John Onopchenko
 
Chief Executive Officer and Director
 
April 1, 2019
(John Onopchenko)
 
(Principal Executive Officer)
 
 
 
 
 
/s/ Vaseem Mahboob
 
Chief Financial Officer
 
April 1, 2019
(Vaseem Mahboob )
 
(Principal Financial and Accounting Officer)
 
 
 
 
 
/s/ Daniel Lemaitre
 
Chairman of the Board
 
April 1, 2019
(Dan Lemaitre)
 
 
 
 
 
 
 
/s/ Thomas F. Zenty, III
 
Director
 
April 1, 2019
(Thomas F. Zenty III)
 
 
 
 
 
 
 
/s/ Thomas C. Wilder
 
Director
 
April 1, 2019
(Thomas C. Wilder)
 
 
 
 
 
 
 
/s/ Guido J. Neels
 
Director
 
April 1, 2019
(Guido J. Neels)
 
 
 
 
 
 
 
/s/ Gregory D. Waller
 
Director
 
April 1, 2019
(Gregory D. Waller)
 
 
 
 
 
 
 
/s/ Leslie V. Norwalk
 
Director
 
April 1, 2019
(Leslie V. Norwalk)
 
 
 
 







EXHIBIT INDEX
Exhibit Number
 
Exhibit
 
Amended and Restated Certificate of Incorporation (as updated through March 5, 2018 and currently in effect) (incorporated by reference to Exhibit 3.1 to the Registrant’s Annual Report on Form 10-K, filed with the Commission on April 1, 2019).
 
Amended and Restated Bylaws (as updated through June 14, 2018 and currently in effect) (incorporated by reference to Exhibit 3.2 to the Registrant’s Annual Report on Form 10-K, filed with the Commission on April 1, 2019).
 
Specimen Certificate of Common Stock (incorporated by reference to Exhibit 4.1 to Amendment No. 2 to the Registrant’s Registration Statement on Form S-1 (Filing No. 333-04560), filed with the Commission on June 10, 1996).
 
Updated Specimen Certificate of Common Stock effective as of May 22, 2014 (incorporated by reference to Exhibit 4.1.1 to the Registrant’s Annual Report on Form 10-K, filed with the Commission on March 2, 2015).
 
Endologix, Inc. Amended and Restated 2015 Stock Incentive Plan (incorporated by reference to Appendix A to the Registrant’s Definitive Proxy Statement on Schedule 14A, filed with the Commission on November 13, 2018).
 
Endologix, Inc. 2017 Inducement Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to Endologix, Inc. Current Report on Form 8-K, File No. 000-28440, filed on October 30, 2017).
 
Amendment to Endologix, Inc. 2017 Inducement Stock Incentive Plan +
 
Opinion of Stradling Yocca Carlson & Rauth, P.C. +
 
Consent of Independent Registered Public Accounting Firm. +
 
Consent of Stradling Yocca Carlson & Rauth, P.C. (contained in Exhibit 5.1). +
 
Power of Attorney (included on the signature page to this Registration Statement). +
+ Filed herewith








Exhibit 4.5.1

AMENDMENT TO ENDOLOGIX, INC. 2017 INDUCEMENT STOCK INCENTIVE PLAN

Effective as of December 5, 2018, and pursuant to approval by the Compensation Committee of Endologix, Inc. on such date, the maximum number of shares issuable pursuant to Section 4.1 of the Endologix, Inc. 2017 Inducement Stock Incentive Plan approved by the Board, including the Independent Board, on October 27, 2017 (the “ Plan ”), is hereby increased from 200,000 to 400,000 shares of Stock.
Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Plan.
Except as herein provided, all provisions of the Plan shall remain in full force and effect.



Exhibit 5.1


EXHIBITLOGO.JPG



STRADLING YOCCA CARLSON & RAUTH, P.C.
660 NEWPORT CENTER DRIVE, SUITE 1600
NEWPORT BEACH, CA 92660-6422
SYCR.COM

CALIFORNIA
   NEWPORT BEACH
   SACRAMENTO
   SAN DIEGO
   SAN FRANCISCO
   SANTA BARBARA
   SANTA MONICA
COLORADO
   DENVER
NEVADA
   RENO
WASHINGTON
   SEATTLE
April 1, 2019
Endologix, Inc.
2 Musick
Irvine, California 92618    
Re:     Securities Registered under Registration Statement on Form S-8
Ladies and Gentlemen:
You have requested our opinion with respect to certain matters in connection with the filing by Endologix, Inc., a Delaware corporation (the “ Company ”), of a Registration Statement on Form S-8 (the “ Registration Statement ”) with the Securities and Exchange Commission (the “ Commission ”) on April 1, 2019 covering the offering of up to (i) 600,000 additional shares of the Company’s common stock, par value $0.001 per share (“ Common Stock ”), pursuant to the Endologix, Inc. Amended and Restated 2015 Stock Incentive Plan, as amended (the “ 2015 Plan ”), and (ii) 200,000 additional shares of Common Stock pursuant to the Endologix Inc., 2017 Inducement Stock Incentive Plan, as amended (the “ 2017 Plan ” and together with the 2015 Plan, the “ Plans ”). The 800,000 shares of Common Stock that may be issued pursuant to the Plans are referred to herein as the “ Shares .”
In connection with the preparation of this opinion, we have examined such documents and considered such questions of law as we have deemed necessary or appropriate. We have assumed the authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies thereof and the genuineness of all signatures. As to questions of fact material to our opinion, we have relied upon the certificates of certain officers of the Company.
Based on the foregoing, we are of the opinion that the Shares, when issued and sold in accordance with the terms of the Plans, and the related agreements, will be validly issued, fully paid and non-assessable.
We render this opinion only with respect to the General Corporation Law of the State of Delaware, and we express no opinion herein concerning the application or effect of the laws of any other jurisdiction.
We hereby consent to the use of this opinion as Exhibit 5.1 to the Registration Statement and further consent to the reference to us in the Registration Statement and any amendments thereto. In giving such consent, we do not hereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations thereunder.
This opinion is intended solely for use in connection with the issuance and sale of the Shares pursuant to the Registration Statement and is not to be relied upon for any other purpose or delivered to or relied upon by any other person without our prior written consent. This opinion is rendered as of the date hereof and based solely on our understanding of facts in existence as of such date after the examination described in this opinion. We assume no obligation to advise you of any fact, circumstance, event or change in the law or the facts that may hereafter be brought to our attention whether or not such occurrence would affect or modify the opinions expressed herein.
Very truly yours,
STRADLING YOCCA CARLSON & RAUTH, P.C.
/s/ Stradling Yocca Carlson & Rauth, P.

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm
The Board of Directors
Endologix, Inc.:
We consent to the use of our reports with respect to the consolidated financial statements, the related consolidated financial statement schedule and the effectiveness of internal control over financial reporting, incorporated by reference herein.
/s/ KPMG LLP
Irvine, California
April 1, 2019