Item 1.01. Entry into a Material Definitive Agreement.
As a result of the Merger (as defined in Item 2.01 of this Current Report on
Form 8-K), the following agreements of
Registration Rights Agreement
On
In particular, the Registration Rights Agreement provides for the following registration rights:
• Shelf registration rights. No later than 45 calendar days following the
completion of the Merger, the Company is required to file with theU.S. Securities and Exchange Commission (the "SEC"), a shelf registration statement registering the resale of theRegistrable Securities , and use its commercially reasonable efforts to have such registration statement declared effective by theSEC as promptly as possible.
• Expenses and indemnification. The fees, costs and expenses of registrations
pursuant to the registration rights granted to theDisc Investors under the Registration Rights Agreement will be borne by the Company. The Registration Rights Agreement contains customary cross-indemnification provisions, under which the Company is obligated to indemnify holders ofRegistrable Securities in the event of material misstatements or omissions in the registration statement attributable to the Company, and holders ofRegistrable Securities are obligated to indemnify the Company for material misstatements or omissions attributable to them.
Securities of the Company shall cease to be
Item 2.01. Completion of Acquisition or Disposition of Assets.
On
Under the terms of the Merger Agreement, immediately prior to the effective time of the Merger, each share of Disc's preferred stock was converted into a share of Disc's common stock. At the closing of the Merger, the Company issued an aggregate of approximately 12,533,557 shares of its common stock to Disc stockholders, based on an exchange ratio of 0.1096 shares of the Company's common stock for each share of Disc common stock outstanding immediately prior to the Merger, including those shares of common stock issued upon conversion of the Disc preferred stock, resulting in approximately 16,923,285 shares of the Company's common stock being issued and outstanding immediately following the effective time of the Merger. The exchange ratio was determined through arm's-length negotiations between the Company and Disc. The Company also assumed all of the outstanding and unexercised stock options to purchase shares of Disc capital stock. The assumed options continue to be governed by the terms of Disc's 2017 Stock Option and Grant Plan (the "Disc 2017 Plan"). Upon the closing . . .
Item 3.02. Unregistered Sales of
To the extent required by Item 3.02 of Form 8-K, the information set forth under Item 1.01 of this Current Report on Form 8-K regarding the Roche Stock Issuance Agreement is hereby incorporated by reference.
Item 3.03. Material Modification to Rights of Security Holders.
The Company convened and adjourned its special meeting of stockholders on
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On
No fractional shares were issued in connection with the Reverse Stock Split. Any
fractional shares resulting from the Reverse Stock Split were rounded down to
the nearest whole number, and each stockholder who would otherwise be entitled
to a fraction of a share of common stock upon the Reverse Stock Split (after
aggregating all fractions of a share to which such stockholder would otherwise
be entitled) is, in lieu thereof, entitled to receive a cash payment determined
by multiplying the last reported sale price of the Company's common stock at
On
The foregoing descriptions of the Stock Amendment and the Name Change Amendment are not complete and are subject to and qualified in their entirety by reference to the Stock Amendment and the Name Change Amendment, copies of which are attached hereto as Exhibit 3.1 and Exhibit 3.2, respectively, and are incorporated herein by reference.
Item 5.01. Changes in Control of Registrant.
The information set forth in Item 2.01 of this Current Report on Form 8-K regarding the Merger and the information set forth in Item 5.02 of this Current Report on Form 8-K regarding the Company's board of directors and executive officers following the Merger are incorporated by reference into this Item 5.01.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Directors
In accordance with the Merger Agreement, immediately prior to and effective upon
the closing of the Merger,
The Merger Agreement provides that at or immediately after the closing of the
Merger, the size of the Company's board of directors will be fixed at nine
members consisting of one member designated by the Company, who is
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Other than pursuant to the Merger Agreement, there were no arrangements or understandings between the Company's newly appointed directors and any person pursuant to which they were elected. None of the Company's newly appointed directors has a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
To the extent required by Item 5.03 of Form 8-K, the information contained in Item 2.01 and Item 3.03 of this Current Report on Form 8-K is incorporated by reference herein.
Commencing on
Item 5.05. Amendments to the Registrant's Code of Ethics, or Waiver of a
Provision of the Code of Ethics.
In connection with the Merger, the Board adopted a new code of business conduct and ethics (the "Code of Conduct"). The Code of Conduct superseded the Company's existing code of business conduct and ethics previously adopted by the Board (the "Pre-Merger Code"). The Code of Conduct applies to all directors, officers, employees and consultants of the Company.
The provisions of the Code of Conduct are intended to reflect current best practices and enhance the Company's personnel's understanding of the Company's standards of ethical business practices, promote awareness of ethical issues that may be encountered in carrying out an employee's or director's responsibilities, and improve clarity as to how to address ethical issues that may arise. The newly adopted Code of Conduct did not result in any explicit or implicit waiver of any provision of the Pre-Merger Code. The foregoing description of the Code of Conduct does not purport to be complete and is qualified in its entirety by reference to the full text of the Code of Conduct, a copy of which is attached hereto as Exhibit 14.1 and incorporated herein by reference.
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Item 7.01. Regulation FD Disclosure.
On
Item 8.01. Other Events.
The Company's Risk Factors, the Company's Business Section and Disc's
Management's Discussion and Analysis of Financial Condition and Results of
Operations of
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
The audited financial statements of Disc as of
The unaudited condensed interim financial statements of Disc as of
(b) Pro Forma Financial Information.
The pro forma financial information required by Item 9.01(b) are filed herewith as Exhibit 99.7 to this Current Report on Form 8-K and is incorporated herein by reference.
(d) Exhibits Exhibit No. Description 3.1* Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company, datedDecember 28, 2022 3.2* Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Company, datedDecember 29, 2022 10.1* Form of Registration Rights Agreement 10.2* Form of Contingent Value Rights Agreement 10.3* Form of Indemnification Agreement for Directors ofDisc Medicine, Inc. 10.4* Form of Indemnification Agreement for Officers ofDisc Medicine, Inc. 10.5* Common Stock Issuance Agreement, dated as ofDecember 29, 2022 , by and betweenDisc Medicine Opco, Inc. ,F. Hoffmann-La Roche Ltd. andHoffmann-La Roche Inc. 10.6* Employment Agreement, dated as ofDecember 29, 2022 , by and between DiscMedicine, Inc. andJohn Quisel , J.D. Ph.D. 10.7* Employment Agreement, dated as ofDecember 29, 2022 , by and between DiscMedicine, Inc. andJoanne Bryce 10.8* Employment Agreement, dated as ofDecember 29, 2022 , by and between DiscMedicine, Inc. andWilliam Savage , MD, Ph.D.
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10.9* 2017 Stock Option and Grant Plan ofDisc Medicine, Inc. , and form of award agreements thereunder. 10.10* Notice of Termination, Separation Agreement and Release, dated as ofDecember 29, 2022 , by and betweenGemini Therapeutics, Inc. andBrian Piekos . 14.1* Code of Business Conduct and Ethics ofDisc Medicine, Inc. 23.1* Consent ofErnst & Young LLP , independent registered public accounting firm ofDisc Medicine, Inc. 99.1* Press release issued onDecember 29, 2022 99.2* Risk Factors ofDisc Medicine, Inc. 99.3* Business Section ofDisc Medicine, Inc. 99.4*Disc Medicine, Inc.'s Management's Discussion and Analysis of Financial Condition and Results of Operations as ofSeptember 30, 2022 and for the nine month period endedSeptember 30, 2022 and 2021, and for the years endedDecember 31, 2022 and 2021 99.5* Audited financial statements ofDisc Medicine Opco, Inc. (formerly DiscMedicine, Inc. ) for the years endedDecember 31, 2021 and 2020 99.6* Unaudited condensed consolidated financial statements of Disc MedicineOpco, Inc. (formerlyDisc Medicine, Inc. ) as ofSeptember 30, 2022 and for each of the nine months endedSeptember 30, 2022 and 2021 99.7* Selected historical and unaudited pro forma condensed combined financial information as ofSeptember 20, 2022 and for the nine months endedSeptember 30, 2022 and the year endedDecember 31, 2021 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed herewith
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