As filed with the Securities and Exchange Commission on August 8, 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

 

MARINUS PHARMACEUTICALS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware

 

28-0198082

(State or Other Jurisdiction of Incorporation
or Organization)

 

(I.R.S. Employer
Identification No.)

 

5 Radnor Corporate Center, Suite 500
100 Matsonford Rd.
Radnor, Pennsylvania

 

19087

(Address of Principal Executive Offices)

 

(Zip Code)

 

Marinus Pharmaceuticals, Inc. 2014 Equity Incentive Plan, as amended

Individual Nonqualified Stock Option Agreements (Inducement Grants)

(Full Title of the Plan)

 

Edward F. Smith

Chief Financial Officer

Marinus Pharmaceuticals, Inc.

5 Radnor Corporate Center, Suite 500

100 Matsonford Rd.

Radnor, Pennsylvania 19087

(Name and Address of Agent For Service)

 

(484) 801-4670

(Telephone Number, Including Area Code, of Agent For Service)

 

Copy to:

 

John W. Kauffman, Esq.

Duane Morris LLP

30 South 17 th  Street

Philadelphia, PA 19103

(215) 979-1227

 

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 o

 

Accelerated filer

x

 

 

 

 

Non-accelerated filer o

 

Smaller reporting company

o

 

 

 

 

Emerging growth company x

 

 

 

 

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 13(a) of the Exchange Act.   x

 

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, $0.001 par value per share

 

4,029,836 shares

 

 

(2)

$

17,740,541

(2)

$

2,150

 

(1)               In accordance with Rule 416 under the Securities Act of 1933, as amended, this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

 

(2)               Pursuant to Rule 457(h), the maximum aggregate offering price was calculated by adding (i) $13,751,694 with respect to 2,796,886 shares issuable upon exercise of outstanding stock options, at a weighted average exercise price per share of those options of $4.92, (ii) $663,507 with respect to the remaining 625,950 shares issuable under the plan and not already registered, at the price of $1.06 per share based upon the average of the high and low sales prices of Marinus Pharmaceuticals, Inc. common stock on August 5, 2019, which is a date within five business days prior to the filing of this registration statement, as reported on the NASDAQ Capital Market, and (iii) $3,325,340 with respect to 607,000 shares issuable upon exercise of individual nonqualified stock option agreements (inducement grants), at a weighted average exercise price per share of those inducement grants of $5.48.

 

 

 


 

Statement of Incorporation by Reference

 

This registration statement on Form S-8 is being filed to register the offer and sale of an additional (i) 3,422,836 shares of Common Stock, $0.001 par value per share (the “Common Stock”), of Marinus Pharmaceuticals, Inc. (the “Registrant”) to be issued under the 2014 Equity Incentive Plan, as amended, of the Registrant and (ii) 607,000 shares of Common Stock to be issued pursuant to Individual Nonqualified Stock Option Agreements (Inducement Grants). Pursuant to General Instruction E to Form S-8, except for Item 5 “Interests of Named Experts and Counsel” and Item 8 “Exhibits,” this registration statement incorporates by reference the contents of (i) the registration statement on Form S-8, File No. 333-200701, filed by the Registrant on December 3, 2014 relating to the Registrant’s 2014 Equity Incentive Plan , and (ii) the registration statement on Form S-8, File No. 333-219613, filed by the Registrant on August 1, 2017 relating to the Registrant’s 2014 Equity Incentive Plan, as amended .

 

Item 8. Exhibits.

 

The Exhibit Index immediately preceding the exhibits is incorporated herein by reference.

 

1


 

INDEX TO EXHIBITS

 

Number

 

Description

 

 

 

5.1

 

Opinion of Duane Morris LLP, counsel to the Registrant

 

 

 

23.1

 

Consent of Duane Morris LLP (included in Exhibit 5.1)

 

 

 

23.2

 

Consent of KPMG LLP

 


 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, 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 Radnor, Pennsylvania, on this 8th day of August, 2019.

 

 

MARINUS PHARMACEUTICALS, INC.

 

 

 

 

By:

/s/ Scott Braunstein

 

 

Scott Braunstein, M.D.

 

 

Executive Chairman

 

SIGNATURES

 

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/ Scott Braunstein

 

Executive Chairman

 

 

Scott Braunstein, M.D.

 

(principal executive officer)

 

August 8, 2019

 

 

 

 

 

/s/ Edward F. Smith

 

Chief Financial Officer and Treasurer

 

 

Edward F. Smith

 

(principal financial officer and principal accounting officer)

 

August 8, 2019

 

 

 

 

 

 

 

 

 

 

/s/ Enrique J. Carrazana, M.D.

 

Director

 

August 8, 2019

Enrique J. Carrazana, M.D.

 

 

 

 

 

 

 

 

 

/s/ Michael R. Dougherty

 

Director

 

August 8, 2019

Michael R. Dougherty

 

 

 

 

 

 

 

 

 

/s/ Seth H.Z. Fischer

 

Director

 

August 8, 2019

Seth H. Z. Fischer

 

 

 

 

 

 

 

 

 

/s/ Timothy M. Mayleben

 

Director

 

August 8, 2019

Timothy M. Mayleben

 

 

 

 

 

 

 

 

 

/s/ Nicole Vitullo

 

Director

 

August 8, 2019

Nicole Vitullo

 

 

 

 

 

3


Exhibit 5.1

 

NEW YORK

LONDON

SINGAPORE

PHILADELPHIA

CHICAGO

WASHINGTON,

DC

SAN FRANCISCO

SILICON VALLEY

SAN DIEGO

LOS ANGELES

TAIWAN

BOSTON

HOUSTON

AUSTIN

HANOI

HO CHI MINH

CITY

 

FIRM and AFFILIATE OFFICES

 

 

 

www.duanemorris.com

 

SHANGHAI

ATLANTA

BALTIMORE

WILMINGTON

MIAMI

BOCA RATON

PITTSBURGH

NEWARK

LAS VEGAS

CHERRY HILL

LAKE TAHOE

MYANMAR

OMAN

A GCC REPRESENTATIVE OFFICE

OF DUANE MORRIS

 

ALLIANCES IN MEXICO

AND SRI LANKA

 

 

August 8, 2019

 

Board of Directors

Marinus Pharmaceuticals, Inc.

170 N. Radnor Chester Road, Suite 250

Radnor, Pennsylvania 19087

 

Re:                              Marinus Pharmaceuticals, Inc. (the “Company”)

Registration Statement on Form S-8 (the “Registration Statement”)

Marinus Pharmaceuticals, Inc. 2014 Equity Incentive Plan, as amended (the “Plan”)

Individual Nonqualified Stock Option Agreements (“Inducement Grants”)

 

Ladies and Gentlemen:

 

We have acted as counsel to the Company in connection with the preparation and filing with the Securities and Exchange Commission under the Securities Act of 1933, as amended, of a Registration Statement relating to the offer and sale by the Company of up to a total of 4,029,836 shares (the “Shares”) of common stock, $.001 par value, of the Company, issuable under the Plan and the Inducement Grants.

 

As counsel to the Company, we have examined the proceedings taken by the Company in connection with the adoption of the Plan and the authorization of the issuance of the Shares.  For the purpose of the opinion rendered below, we have assumed that, in connection with the issuance of the Shares, the Company will receive consideration in an amount not less than the aggregate par value of the Shares covered by each such issuance.

 

For purposes of rendering this opinion, we have examined originals or copies (certified or otherwise identified to our satisfaction) of:

 

a.                                       the Plan;

 

b.                                       the Inducement Grants

 

DUANE MORRIS LLP

 

30 SOUTH 17TH STREET  PHILADELPHIA, PA 19103-4196  

PHONE: 215.979.1000  FAX: 215.979.1020

 


 

c.                                        the Fourth Amended and Restated Certificate of Incorporation of the Company;

 

d.                                       the Amended and Restated By-laws of the Company; and

 

e.                                        resolutions of the Board of Directors of the Company.

 

We have also examined such other certificates of public officials, such certificates of officers of the Company and such other records, agreements, documents and instruments as we have deemed relevant and necessary as a basis for the opinions hereafter set forth.

 

In such examination, we have assumed: (i) the genuineness of all signatures, (ii) the legal capacity of all natural persons, (iii) the authenticity of all documents submitted to us as originals, (iv) the conformity to original documents of all documents submitted to us as certified, conformed or other copies and the authenticity of the originals of such documents and (v) that all records and other information made available to us by the Company on which we have relied are complete in all material respects. As to all questions of fact material to this opinion, we have relied solely upon the above-referenced certificates or comparable documents, have not performed or had performed any independent research of public records and have assumed that certificates of or other comparable documents from public officials dated prior to the date hereof remain accurate as of the date hereof.

 

Based upon the foregoing, we are of the opinion that the issuance of the Shares pursuant to the terms of the Plan or the Inducement Agreements, as the case may be, against receipt by the Company of the consideration for the Shares in accordance with the Plan or the Inducement Agreements, as the case may be, will result in the Shares being legally issued, fully paid and non-assessable.

 

The foregoing opinion is limited to the laws of the State of Delaware, and we do not express any opinion herein concerning any other law.

 

The opinion expressed herein is rendered as of the date hereof and is based on existing law, which is subject to change.  Where our opinion expressed herein refers to events to occur at a future date, we have assumed that there will have been no changes in the relevant law or facts between the date hereof and such future date.  We do not undertake to advise you of any changes in the opinion expressed herein from matters that may hereafter arise or be brought to our attention or to revise or supplement such opinion should the present laws of any jurisdiction be changed by legislative action, judicial decision or otherwise.

 

Our opinion expressed herein is limited to the matters expressly stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated.

 

We hereby consent to the use of this letter as an exhibit to the Registration Statement and to any and all references to our firm in the Registration Statement.  In giving this consent, we do not admit that we are “experts” within the meaning of Section 11 of the Securities Act or within the category of persons whose consent is required under Section 7 of the Securities Act.

 

 

Sincerely,

 

 

 

/s/ Duane Morris LLP

 

2


Exhibit 23.2

 

Consent of Independent Registered Public Accounting Firm

 

The Board of Directors

Marinus Pharmaceuticals, Inc.:

 

We consent to the use of our report dated March 12, 2019, with respect to the consolidated balance sheets of Marinus Pharmaceuticals, Inc. and subsidiary as of December 31, 2018 and 2017, and the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2018, and the related notes (collectively, the consolidated financial statements), incorporated herein by reference.

 

 

/s/ KPMG LLP

 

Philadelphia, Pennsylvania

August 8, 2019