Sonoma Pharmaceuticals : Material Agreement - Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 24, 2023

SONOMA PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-33216		68-0423298
(State or other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification No.)

5445 Conestoga Court, Suite 150

Boulder, CO80301

(Address of principal executive offices)

(Zip Code)

[phone]

(Registrant's telephone number, including area code)

Not applicable.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock	SNOA	The NasdaqStock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

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. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On February 24, 2023, we entered into an amendment (the "ATM Amendment") to our At-The-Market Offering Agreement, dated December 23, 2022 (as amended by the ATM Amendment, the "Agreement"), with Ladenburg Thalmann & Co. Inc. Pursuant to the ATM Amendment, the aggregate offering amount of shares of the Company's common stock, $0.0001 par value per share (the "Shares"), which the Company may sell and issue through Ladenburg, as the sales agent, was increased to the Maximum Amount as defined in the Agreement (the "ATM Upsize"). The Company has already sold $2,699,906 of Shares under the Agreement.

Also on February 24, 2023, we filed a supplement to the prospectus supplement, dated December 23, 2022, with the Securities and Exchange Commission (the "Supplement to the Prospectus Supplement") in connection with the ATM Upsize, for an aggregate offering price of up to $420,838.

The issuance and sale of the Shares by the Company under the Agreement will be made pursuant to the Company's registration statement on Form S-3 (File No. 333-250925) which was declared effective by the U.S. Securities and Exchange Commission, or SEC, on December 22, 2020 (the "Registration Statement"), as supplemented by a prospectus supplement dated December 23, 2022 and the Supplement to the Prospectus Supplement.

The foregoing summary of the ATM Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the ATM Amendment, which is filed herewith as Exhibit 1.1.

A copy of the opinion of Burns & Levinson, LLP relating to the legality of the issuance and sale of shares, is attached hereto as Exhibit 5.1 to this current report on Form 8-K.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any shares under the Agreement, nor shall there be any sale of such shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This report contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements related to our future activities, or future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in our Annual Report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this report, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
1.1		Amendment to At-The-Market Offering Agreement, by and between the Company and Ladenburg Thalmann & Co. Inc., dated February 24, 2023.
5.1		Opinion of Burns & Levinson, LLP.
23.1		Consent of Burns & Levinson, LLP (included in Exhibit 5.1).
104		Cover Page Interactive Data File (formatted in inline XBRL in Exhibit 101).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SONOMA PHARMACEUTICALS, INC.
Date: February 24, 2023	By:	/s/ Amy Trombly
	Name: Title:	Amy Trombly Chief Executive Officer

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