sv8
As
filed with the Securities and Exchange Commission on November 14, 2007.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ATHERSYS, INC.
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
(State or Other Jurisdiction
of Incorporation or Organization)
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20-4864095
(I.R.S. Employer Identification No.) |
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3201 Carnegie Avenue, Cleveland, Ohio
(Address of Principal Executive Offices)
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44115-2634
(Zip Code) |
Athersys, Inc. Long-Term Incentive Plan
(Full Title of the Plan)
Dr. Gil Van Bokkelen
Chief Executive Officer
Athersys, Inc.
3201 Carnegie Avenue
Cleveland, Ohio 44115-2634
(216) 431-9900
(Name, Address and Telephone Number of Agent For Service)
CALCULATION OF REGISTRATION FEE
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Title of
Each Class of Securities To |
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Amount To Be |
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Proposed Maximum
Offering |
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Proposed Maximum
Aggregate |
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Amount of
Registration |
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Be Registered |
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Registered (1)(2) |
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Price Per Share (3) |
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Offering Price (3) |
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Fee |
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Common Stock, $0.001 par value per share |
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3,035,000 |
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$4.73 |
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$14,355,550 |
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$441 |
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(1) |
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Represents maximum number of shares of common stock of the Registrant, par value
$0.001 per share (Common Stock), issuable pursuant to the Athersys, Inc. Long-Term
Incentive Plan (the Plan) being registered hereon. |
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(2) |
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Pursuant to Rule 416 of the Securities Act of 1933 (the Securities Act), this
Registration Statement also covers such additional shares of Common Stock as may become
issuable pursuant to the anti-dilution provisions of the Plan. |
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(3) |
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Estimated solely for calculating the amount of the registration fee, pursuant to
paragraphs (c) and (h) of Rule 457 of the General Rules and Regulations under the
Securities Act, on the basis of the average of the bid and asked prices of such securities
on the OTC Bulletin Board on November 13, 2007, within five business days prior to filing. |
TABLE OF CONTENTS
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents have been filed by Athersys, Inc., a Delaware corporation formerly named BTHC VI, Inc. (the
Registrant), with the Securities and Exchange Commission (the Commission) and are incorporated
herein by reference:
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(a) |
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The Registrants prospectus filed pursuant to Rule 424(b) of the Securities Act on October 18, 2007; |
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(b) |
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The Registrants Quarterly Report on Form 10-QSB for the quarter ended March
31, 2007; |
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(c) |
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The Registrants Quarterly Report on Form 10-Q for the quarter ended June 30,
2007, as amended by Amendment No. 1 to Quarterly Report on Form 10-Q/A filed on October 9, 2007; |
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(d) |
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The Registrants Quarterly Report on Form 10-Q for the quarter ended September 30, 2007; |
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(e) |
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The Registrants Current Reports on Form 8-K filed on May 24, 2007, June 14, 2007, July 27, 2007, August 6, 2007, September 6, 2007, October 9, 2007 and October 31, 2007; |
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(f) |
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The Registrants Current Reports on Form 8-K/A filed on September 22, 2007 and October 9, 2007, and; |
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(g) |
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The description of the Registrants Common Stock contained in the registration
statement on Form 10-SB filed on July 6, 2006, including any subsequently filed
amendments and reports updating such description. |
All documents subsequently filed by the Registrant with the Commission pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the Exchange Act), prior to
the filing of a post-effective amendment that indicates that all securities offered have been sold
or which deregisters all securities then remaining unsold, will be deemed to be incorporated by
reference in this registration statement and to be part hereof from the date of filing of such
documents. Any statement contained in any document incorporated or deemed to be incorporated by
reference herein will 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 will not be deemed, except as
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.
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The legality of the shares of Common Stock being offered by this registration statement has
been passed upon for the Registrant by Jones Day. As of November 1, 2007, partners in the firm of
Jones Day owned an aggregate of 3,900 shares of Common Stock.
Item 6. Indemnification of Directors and Officers.
Delaware law provides that directors of a company will not be personally liable for monetary
damages for breach of their fiduciary duty as directors, except for liabilities:
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for any breach of their duty of loyalty to the company or its
stockholders; |
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for acts or omissions not in good faith or which involve intentional
misconduct or a knowing violation of law; |
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for unlawful payment of dividend or unlawful stock repurchase or
redemption, as provided under Section 174 of the General Corporation Law of
the State of Delaware (the DGCL); or |
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for any transaction from which the director derived an improper personal
benefit. |
The provisions of Delaware law that relate to indemnification expressly state that the rights
provided by the statute are not exclusive and are in addition to any rights provided in bylaws, by
agreement, or otherwise. The Registrants certificate of incorporation also provides that if
Delaware law is amended to further eliminate or limit the liability of directors, then the
liability of its directors shall be eliminated or limited, without further stockholder action, to
the fullest extent permissible under Delaware law as so amended.
The Registrants certificate of incorporation requires it to indemnify, to the fullest extent
permitted by the DGCL, any and all persons it has the power to indemnify under the DGCL from and
against any and all expenses, liabilities or other matters covered by the DGCL. Additionally, the
Registrants certificate of incorporation requires it to indemnify each of its directors and
officers in each and every situation where the DGCL permits or empowers it (but does not obligate
it) to provide such indemnification, subject to the provisions of its bylaws. The Registrants
bylaws requires it to indemnify its directors to the fullest extent permitted by the DGCL, and
permits it, to the extent authorized by the board of directors, to indemnify its officers and any
other person it has the power to indemnify against liability, reasonable expense or other matters.
Under the Registrants certificate of incorporation, indemnification may be provided to
directors and officers acting in their official capacity, as well as in other capacities.
Indemnification will continue for persons who have ceased to be directors, officers, employees or
agents, and will inure to the benefit of their heirs, executors and administrators. Additionally,
under the Registrants certificate of incorporation, except under certain circumstances, its
directors are not personally liable to the Registrant or its stockholders for monetary damages for
breach of fiduciary duty as a director. At present, there is no pending litigation or proceeding
involving any of the Registrants directors, officers, or employees in which indemnification is
sought, nor is the Registrant aware of any threatened litigation that may result in claims for
indemnification.
The Registrants bylaws also permit it to secure insurance on behalf of any officer, director,
employee, or agent for any liability arising out of actions in his or her capacity as an officer,
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director, employee, or agent. The Registrant has obtained an insurance policy that insures
its directors and officers against losses, above a deductible amount, from specified types of
claims. Finally, the Registrant has entered into indemnification agreements with most of its
directors and executive officers, which agreements, among other things, require it to indemnify
them and advance expenses to them relating to indemnification suits to the fullest extent permitted
by law.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
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Exhibit Number |
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Description |
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4.1
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Certificate of Incorporation of Athersys, Inc., as amended as of August 31, 2007 (incorporated herein
by reference to Exhibit 3.1 to the Registrants Registration Statement on Form S-3/A (Registration No.
333-144433) filed with the Commission on October 10, 2007). |
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4.2
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Bylaws of Athersys, Inc., as amended as of October 30, 2007 (incorporated herein by reference to
Exhibit 3.1 to the Registrants Current Report on Form 8-K (Commission No. 000-52108) filed
with the Commission on October 31, 2007). |
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4.3
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Athersys, Inc. Long-Term Incentive Plan. |
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5.1
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Opinion of Jones Day. |
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23.1
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Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm. |
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23.2
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Consent of Jones Day (Included in Exhibit 5.1). |
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24.1
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Power of Attorney. |
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 of
1933;
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(ii) To reflect in the prospectus any facts or events arising after the effective date
of this 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 the 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 a prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the Calculation of Registration Fee table in the effective
registration statement.
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in this registration statement or any material change to such
information in this registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in this registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment will 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 of 1933, each filing of the Registrants annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plans annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) 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.
(h) Insofar as indemnification for liabilities arising under the Securities Act of 1933 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
Securities and Exchange Commission such indemnification is against public policy as expressed in
the 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 Act and
will be governed by the final adjudication of such issue.
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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 the City of Cleveland, State of Ohio,
on the 14th day of November, 2007.
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ATHERSYS, INC.
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By: |
/s/ Gil Van Bokkelen |
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Gil Van Bokkelen |
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Chief Executive Officer |
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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 date indicated.
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Signature |
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Title |
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/s/ Gil Van Bokkelen
Gil Van Bokkelen |
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Chief Executive Officer and
Chairman of the Board of
Directors (Principal
Executive Officer)
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November 14, 2007 |
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Laura K. Campbell |
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Vice President Finance
(Principal Financial and
Accounting Officer)
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November 14, 2007 |
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John J. Harrington |
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Executive Vice President,
Chief Scientific Officer
and Director
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November 14, 2007 |
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Jordan S. Davis |
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Director
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November 14, 2007 |
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Floyd D. Loop |
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Director
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November 14, 2007 |
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George M. Milne, Jr. |
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Director
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November 14, 2007 |
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William C. Mulligan |
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Director
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November 14, 2007 |
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Michael Sheffery |
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Director
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November 14, 2007 |
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Lorin J. Randall |
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Director
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November 14, 2007 |
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This registration statement has been signed on behalf of the above officers and directors by Gil
Van Bokkelen, as attorney-in-fact pursuant to a power of attorney filed as Exhibit 24.1 to this
registration statement. |
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By: /s/ Gil Van Bokkelen
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Gil Van Bokkelen |
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Attorney-in-Fact |
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EXHIBIT INDEX
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Exhibit Number |
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Description |
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4.1
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Certificate of Incorporation of Athersys, Inc., as amended as of August 31, 2007 (incorporated herein
by reference to Exhibit 3.1 to the Registrants Registration Statement on Form S-3/A (Registration No.
333-144433) filed with the Commission on October 10, 2007). |
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4.2
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Bylaws of Athersys, Inc., as amended as of October 30, 2007 (incorporated herein by reference to
Exhibit 3.1 to the Registrants Current Report on Form 8-K (Commission No. 000-52108) filed
with the Commission on October 31, 2007). |
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4.3
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Athersys, Inc. Long-Term Incentive Plan. |
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5.1
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Opinion of Jones Day. |
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23.1
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Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm. |
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23.2
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Consent of Jones Day (Included in Exhibit 5.1). |
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24.1
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Power of Attorney. |
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