As filed with the Securities and Exchange Commission on February 28, 2014

Registration No. 333-        

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

MARIN SOFTWARE INCORPORATED

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   20-4647180

(State or other jurisdiction of

incorporation or organization)

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

Marin Software Incorporated

123 Mission Street, 25 th Floor

San Francisco, California 94105

(415) 399-2580

(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)

2013 Equity Incentive Plan

2013 Employee Stock Purchase Plan

(Full title of the plans)

Christopher A. Lien

Founder, Chief Executive Officer and Director

Marin Software Incorporated

123 Mission Street, 25 th Floor

San Francisco, California 94105

(415) 399-2580

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Please send copies of all communications to:

 

Jeffrey R. Vetter, Esq.

Michael A. Brown, Esq.

Fenwick & West LLP

801 California Street

Mountain View, California 94041

(650) 988-8500

 

Rashmi Garde, Esq.

Marin Software Incorporated

123 Mission Street, 25 th Floor

San Francisco, California 94105

(415) 399-2580

 

 

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   ¨    Accelerated filer   ¨
Non-accelerated filer   x   (Do not check if a smaller reporting company)    Smaller reporting company   ¨

 

 

CALCULATION OF REGISTRATION FEE

 

 

Title 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

               

- Reserved for future issuance under the 2013 Equity Incentive Plan

  1,647,645(2)   $11.51(3)   $18,964,394   $2,443

- Reserved for future issuance under the 2013 Employee Stock Purchase Plan

  329,529(4)   $9.78(5)   $3,222,794   $416

TOTAL

  1,977,174   N/A   $22,187,188   $2,859

 

 

(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 that become issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration which results in an increase in the number of the outstanding shares of the Registrant’s common stock.
(2) Represents additional shares of the Registrant’s common stock reserved for issuance under the Registrant’s 2013 Equity Incentive Plan resulting from the automatic annual 5% increase in the number of authorized shares reserved and available for issuance under the 2013 Equity Incentive Plan on January 1 of each of the first ten years following the Registrant’s initial public offering.
(3) Estimated pursuant to Rules 457(c) and (h) of the Securities Act, solely for the purpose of calculating the registration fee, on the basis of the average of the high and low prices of the Registrant’s common stock as reported on the New York Stock Exchange on February 24, 2014.
(4) Represents additional shares of the Registrant’s common stock reserved for issuance under the Registrant’s 2013 Employee Stock Purchase Plan (the “ ESPP ”) resulting from the automatic annual 1% increase in the number of authorized shares reserved and available for issuance under the ESPP on January 1 of each of the first ten years following the Registrant’s initial public offering.
(5) Estimated pursuant to Rules 457(c) and (h) of the Securities Act, solely for the purpose of calculation the registration fee, on the basis of the average of the high and low prices of the Registrant’s common stock as reported on the New York Stock Exchange on February 24, 2014. Under the ESPP, the purchase price of a share of common stock is equal to 85% of the fair market value of the Registrant’s common stock on the offering date (i.e., the first business day of the offering period of up to 27 months) or the purchase date (i.e., the last business day of a six-month purchase period), whichever is less.

 

 

 


REGISTRATION OF ADDITIONAL SHARES

PURSUANT TO GENERAL INSTRUCTION E

Pursuant to General Instruction E of Form S-8, Marin Software Incorporated (the “ Registrant ”) is filing this Registration Statement with the Securities and Exchange Commission (the “ Commission ”) to register:

 

  (i) 1,647,645 additional shares of common stock under the Registrant’s 2013 Equity Incentive Plan, pursuant to the provisions of the 2013 Equity Incentive Plan providing for an automatic increase in the number of shares reserved and available for issuance under the 2013 Equity Incentive Plan on January 1, 2014; and

 

  (ii) 329,529 additional shares of common stock under the Registrant’s 2013 Employee Stock Purchase Plan, pursuant to the provisions of the Registrant’s 2013 Employee Stock Purchase Plan providing for an automatic increase in the number of shares reserved and available for issuance under the 2013 Employee Stock Purchase Plan on January 1, 2014.

This Registration Statement hereby incorporates by reference the contents of the Registrant’s registration statement on Form S-8 filed with the Commission on March 22, 2013 (Registration No. 333-187459). In accordance with the instructional note to Part I of Form S-8 as promulgated by the Commission, the information specified by Part I of Form S-8 has been omitted from this Registration Statement.


PART II

Information Required in the Registration Statement

Item 8. Exhibits .

The following exhibits are filed herewith:

 

Exhibit

Number

  

Exhibit Description

   Incorporated by Reference    Filed
Herewith
      Form    File No.    Exhibit    Filing Date   
4.1    Restated Certificate of Incorporation of the Registrant.    10-Q    001-35838    3.1    5/9/2013   
4.2    Restated Bylaws of the Registrant.    10-Q    001-35838    3.2    5/9/2013   
4.3    Form of Common Stock Certificate.    S-1    333-186669    4.1    3/15/2013   
5.1    Opinion of Fenwick & West LLP.                X
23.1    Consent of Independent Registered Public Accounting Firm.                X
23.2    Consent of Fenwick & West LLP (included in Exhibit 5.1).                X
24.1    Power of Attorney (included on the signature page of this Registration Statement).                X
99.1    2013 Equity Incentive Plan and forms of stock option agreement, stock option exercise agreement, restricted stock agreement and restricted stock unit agreement.    S-1    333-186669    10.3    3/4/2013   
99.2    2013 Employee Stock Purchase Plan and form of subscription agreement.    S-1    333-186669    10.4    3/4/2013   


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 the City of San Francisco, State of California, on this 28 th day of February, 2014.

 

MARIN SOFTWARE INCORPORATED
By:  

/s/ Christopher A. Lien

  Christopher A. Lien
  Founder, Chief Executive Officer and Director

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Christopher A. Lien and John A. Kaelle, and each of them, as his or her true and lawful attorney-in-fact and agent with the full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this registration statement (including post-effective amendments to this Registration Statement on Form S-8), 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 for 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 his or her substitutes, 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 on behalf of the Registrant in the capacities and on the dates indicated.

 

Signature

  

Title

 

Date

/s/ Christopher A. Lien

Christopher Lien

  

Founder, Chief Executive Officer and

Director

(Principal Executive Officer)

  February 28, 2014

/s/ John A. Kaelle

John Kaelle

  

Chief Financial Officer

(Principal Financial Officer)

  February 28, 2014

/s/ Paul R. Auvil III

Paul R. Auvil III

   Director   February 28, 2014

/s/ James Barrese

James Barrese

   Director   February 28, 2014

/s/ L. Gordon Crovitz

L. Gordon Crovitz

   Director   February 28, 2014

/s/ Bruce W. Dunlevie

Bruce W. Dunlevie

   Director   February 28, 2014

/s/ Donald P. Hutchison

Donald P. Hutchison

   Director   February 28, 2014

/s/ Allan Leinwand

Allan Leinwand

   Director   February 28, 2014


EXHIBIT INDEX

 

Exhibit

Number

  

Exhibit Description

   Incorporated by Reference    Filed
Herewith
      Form    File No.    Exhibit    Filing Date   
4.1    Restated Certificate of Incorporation of the Registrant.    10-Q    001-35838    3.1    5/9/2013   
4.2    Restated Bylaws of the Registrant.    10-Q    001-35838    3.2    5/9/2013   
4.3    Form of Common Stock Certificate.    S-1    333-186669    4.1    3/15/2013   
5.1    Opinion of Fenwick & West LLP.                X
23.1    Consent of Independent Registered Public Accounting Firm.                X
23.2    Consent of Fenwick & West LLP (included in Exhibit 5.1).                X
24.1    Power of Attorney (included on the signature page of this Registration Statement).                X
99.1    2013 Equity Incentive Plan and forms of stock option agreement, stock option exercise agreement, restricted stock agreement and restricted stock unit agreement.    S-1    333-186669    10.3    3/4/2013   
99.2    2013 Employee Stock Purchase Plan and form of subscription agreement.    S-1    333-186669    10.4    3/4/2013   

Exhibit 5.1

February 28, 2014

Marin Software Incorporated

123 Mission Street, 25 th Floor

San Francisco, California 94105

Gentlemen/Ladies:

At your request, we have examined the Registration Statement on Form S-8 (the “ Registration Statement ”) to be filed by Marin Software Incorporated, a Delaware corporation (the “ Company ”), with the Securities and Exchange Commission (the “ Commission ”) on or about February 28, 2014 in connection with the registration under the Securities Act of 1933, as amended, of an aggregate of 1,977,174 shares of the Company’s common stock, $0.001 par value per share (the “ Stock ”), that are subject to issuance by the Company upon the exercise of (a) awards granted or to be granted under the Company’s 2013 Equity Incentive Plan (the “ 2013 Plan ”), and (b) purchase rights to acquire shares of common stock granted or to be granted under the Company’s 2013 Employee Stock Purchase Plan (the “ Purchase Plan ”). The 2013 Plan and the Purchase Plan are collectively referred to herein as the “ Plans .” In rendering this opinion, we have examined such matters of fact as we have deemed necessary in order to render the opinion set forth herein, which included examination of the following:

 

  (1) the Company’s Restated Certificate of Incorporation, filed with the Delaware Secretary of State on March 27, 2013 and certified by the Delaware Secretary of State on March 27, 2013, filed as an exhibit to the Registration Statement on Form S-1 filed with the Commission on March 4, 2013 (the “ Restated Certificate ”);

 

  (2) the Company’s Restated Bylaws, certified by the Company’s Secretary on March 8, 2013 and certified to us by the Company as being the currently effective Restated Bylaws of the Company on March 27, 2013, filed as an exhibit to the Registration Statement on Form S-1 filed by the Company with the Commission on March 4, 2013 (the “ Restated Bylaws ”);

 

  (3) the Registration Statement, together with the exhibits filed as a part thereof or incorporated therein by reference;

 

  (4) the Plans and related forms of agreements under the Plans;

 

  (5) the prospectuses prepared in connection with the Registration Statement (the “ Prospectuses ”);

 

  (6)

the minutes of meetings and actions by written consent of the Company’s Board of Directors and the Company’s stockholders provided to us by the Company


  relating to the adoption, approval, authorization and/or ratification of (a) the Restated Certificate, (b) the Restated Bylaws, (c) the filing of the Registration Statement, and (d) the Plans, including the reservation of the Stock for sale and issuance pursuant to the Plans and the sale and issuance of the Stock pursuant to the Plans;

 

  (7) (a) verification by the Company’s transfer agent as to the number of the Company’s issued and outstanding shares of its capital stock (including Common Stock and Preferred Stock) (and the number of such shares on an as-converted to Common Stock basis) as of February 25, 2014 (the “ Statement Date ”), and (b) a report by the Company of (i) the issued and outstanding options, warrants and rights to purchase capital stock of the Company (including a list of outstanding options) as of the Statement Date, and (ii) any additional shares of capital stock reserved for future issuance in connection with the Plans all other plans, agreements or rights as of the Statement Date;

 

  (8) a Certificate of Good Standing issued by the Secretary of State of the State of Delaware dated February 27, 2014, stating that the Company is qualified to do business and in good standing under the laws of the State of Delaware (the “ Certificate of Good Standing ”); and

 

  (9) an Opinion Certificate addressed to us, dated of even date herewith and executed by the Company, containing certain factual representations (the “ Opinion Certificate ”).

In our examination of documents for purposes of this opinion, we have assumed, and express no opinion as to, the genuineness of all signatures on original documents, the authenticity and completeness of all documents submitted to us as originals, the conformity to originals and completeness of all documents submitted to us as copies, the legal capacity of all persons or entities executing the same, the lack of any undisclosed termination, modification, waiver or amendment to any document reviewed by us and the due authorization, execution and delivery of all documents where due authorization, execution and delivery are prerequisites to the effectiveness thereof. We have also assumed that the certificates representing the Stock have been, or will be when issued, properly signed by authorized officers of the Company or their agents.

As to matters of fact relevant to this opinion, we have relied solely upon our examination of the documents referred to above and have assumed the current accuracy and completeness of the information obtained from the documents referred to above and the representations and warranties made by representatives of the Company to us, including but not limited to those set forth in the Opinion Certificate. We have made no independent investigation or other attempt to verify the accuracy of any of such information or to determine the existence or non-existence of any other factual matters.

We render this opinion only with respect to, and express no opinion herein concerning the application or effect of the laws of any jurisdiction other than, the existing laws of the United States of America, of the State of California and of the Delaware General Corporation Law and reported judicial decisions relating thereto.

With respect to our opinion expressed in paragraph (1) below as to the valid existence and good standing of the Company under the laws of the State of Delaware, we have relied solely upon the Certificate of Good Standing and representations made to us by the Company in the Opinion Certificate.


In accordance with Section 95 of the American Law Institute’s Restatement (Third) of the Law Governing Lawyers (2000), this opinion letter is to be interpreted in accordance with customary practices of lawyers rendering opinions in connection with the filing of a registration statement of the type described herein.

Based upon the foregoing, we are of the opinion that:

(1) The Company is a corporation validly existing, in good standing, under the laws of the State of Delaware; and

(2) The 1,977,174 shares of Stock that may be issued and sold by the Company upon the exercise of (a) awards granted or to be granted under the 2013 Plan, and (b) purchase rights granted or to be granted under the Purchase Plan, when issued, sold and delivered in accordance with the applicable plan and purchase agreements, if any, to be entered into thereunder and in the manner and for the consideration stated in the Registration Statement and relevant Prospectus, will be validly issued, fully paid and nonassessable.

We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to all references to us, if any, in the Registration Statement, the Prospectus constituting a part thereof and any amendments thereto. In rendering the opinions set forth above, we are opining only as to the specific legal issues expressly set forth therein, and no opinion shall be inferred as to any other matter or matters.

***Remainder of page intentionally left blank***

 


This opinion is intended solely for use in connection with issuance and sale of shares subject to the Registration Statement and is not to be relied upon for any other purpose. This opinion is rendered as of the date first written above and based solely on our understanding of facts in existence as of such date after the aforementioned examination. 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 any of the opinions expressed herein.

 

Very truly yours,
FENWICK & WEST LLP
By:  

/s/ Jeffrey R. Vetter

  Jeffrey R. Vetter, a Partner

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated February 28, 2014 relating to the financial statements, which appears in Marin Software Incorporated’s Annual Report on Form 10-K for the year ended December 31, 2013.

 

/s/ PricewaterhouseCoopers LLP
San Jose, California
February 28, 2014