As filed with the Securities and Exchange Commission on August 1, 2017
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)
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Delaware |
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28-0198082 |
(State or Other Jurisdiction of Incorporation
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(I.R.S. Employer
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170 N. Radnor Chester Road, Suite 250
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19087 |
(Address of Principal Executive Offices) |
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Marinus Pharmaceuticals, Inc. 2014 Equity Incentive Plan
(Full Title of the Plan)
Christopher Cashman
President and Chief Executive Officer
Marinus Pharmaceuticals, Inc.
170 N. Radnor Chester Road, Suite 250
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.
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Large accelerated filer ☐ |
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Accelerated filer |
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Non-accelerated filer ☐ (Do not check if smaller reporting company) |
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Smaller reporting company |
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Emerging growth company ☒ |
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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. ☐
CALCULATION OF REGISTRATION FEE
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Title of Each
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Amount to be
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Proposed Maximum
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Proposed Maximum
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Amount of
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Common Stock, $0.001 par value per share |
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3,458,164 |
shares |
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(2) |
$ |
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(2) |
$ |
1,628 |
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(1) |
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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. |
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(2) |
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Pursuant to Rule 457(h), the maximum aggregate offering price was calculated by adding (i) $11,750,058 with respect to 2,204,314 shares issuable upon exercise of outstanding stock options, at a weighted average exercise price per share of those options of $5.33, and (ii) $2,294,545 with respect to the remaining 1,253,850 shares issuable under the plan, at the price of $1.83 per share based upon the average of the high and low sales prices of Marinus Pharmaceuticals, Inc. common stock on July 26, 2017, which is a date within five business days prior to the filing of this registration statement, as reported on the NASDAQ Capital Market. |
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) 3,458,164 shares of Common Stock, $0.001 par value per share (the “Common Stock”), of Marinus Pharmacuticals, Inc. (the “Registrant”) to be issued under the 2014 Equity Incentive Plan, as amended, of the Registrant. 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.
Item 8. Exhibits.
The Exhibit Index immediately preceding the exhibits is incorporated herein by reference.
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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 1st day of August 1, 2017.
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MARINUS PHARMACEUTICALS, INC. |
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By: |
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/s/ Christopher M. Cashman |
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Christopher M. Cashman |
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President and Chief Executive Officer |
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.
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Signature |
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Title |
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Date |
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/s/ Christopher M. Cashman |
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President, Chief Executive Officer and Chairman
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Christopher M. Cashman |
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August 1, 2017 |
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/s/ Edward F. Smith |
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Chief Financial Officer and Treasurer
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Edward F. Smith |
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August 1, 2017 |
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/s/ Enrique J. Carrazana, M.D. |
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Director |
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August 1, 2017 |
Enrique J. Carrazana, M.D. |
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/s/ Michael R. Dougherty |
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Director |
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August 1, 2017 |
Michael R. Dougherty |
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/s/ Seth H.Z. Fischer |
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Director |
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August 1, 2017 |
Seth H. Z. Fischer |
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/s/ Timothy M. Mayleben |
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Director |
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August 1, 2017 |
Timothy M. Mayleben |
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/s/ Nicole Vitullo |
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Director |
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August 1, 2017 |
Nicole Vitullo |
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INDEX TO EXHIBITS
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Description |
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5.1 |
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Opinion of Duane Morris LLP, counsel to the Registrant |
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23.1 |
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Consent of Duane Morris LLP (included in Exhibit 5.1) |
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23.2 |
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Consent of KPMG LLP |
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Exhibit 5.1
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30 SOUTH 17TH STREET PHILADELPHIA, PA 19103-4196
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NEW YORK
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FIRM and AFFILIATE OFFICES
www.duanemorris.com |
BALTIMORE
MEXICO CITY
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August 1, 2017
Board of Directors
Marinus Pharmaceuticals, Inc.
170 N. Radnor Chester Road, Suite 250
Radnor, Pennsylvania 19087
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Re: |
Marinus Pharmaceuticals, Inc. (the “Company”) |
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Registration Statement on Form S-8 (the “Registration Statement”) |
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Marinus Pharmaceuticals, Inc. 2014 Equity Incentive Plan, as amended (the “Plan”) |
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 an additional 3,458,164 shares (the “Shares”) of common stock, $.001 par value, of the Company, issuable under the Plan.
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:
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the Plan; |
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the Fourth Amended and Restated Certificate of Incorporation of the Company; |
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the Amended and Restated By-laws of the Company; and |
DUANE MORRIS LLP |
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30 SOUTH 17TH STREET PHILADELPHIA, PA 19103-4196 |
PHONE: 215.979.1000 FAX: 215.979.1020 |
Board of Directors
Marinus Pharmaceuticals, Inc.
August 1, 2017
Page 2
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d. |
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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 against receipt by the Company of the consideration for the Shares in accordance with the Plan 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.
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Sincerely, |
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/s/ Duane Morris LLP |
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 13, 2017, with respect to the balance sheets of Marinus Pharmaceuticals, Inc. as of December 31, 2016 and 2015, and the related statements of operations, convertible preferred stock and stockholders’ equity (deficit) and cash flows for each of the years in the three-year period ended December 31, 2016, incorporated herein by reference.
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/s/ KPMG LLP |
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Philadelphia, Pennsylvania |
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August 1, 2017 |
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