S-8

As filed with the Securities and Exchange Commission on November 17, 2022

Registration No. 333-        

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

Acrivon Therapeutics, Inc.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware   82-5125532

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

480 Arsenal Way, Suite 100

Watertown, Massachusetts 02472

(Address of principal executive offices) (Zip code)

2019 Stock Incentive Plan

2022 Equity Incentive Plan

2022 Employee Stock Purchase Plan

(Full title of the plans)

Peter Blume-Jensen, M.D., Ph.D.

Chief Executive Officer

Acrivon Therapeutics, Inc.

480 Arsenal Way, Suite 100

Watertown, Massachusetts 02472

(Name and address of agent for service)

(617) 207-8979

(Telephone number, including area code, of agent for service)

Copies to:

Ryan Sansom

Mark Ballantyne

Divakar Gupta

Katherine Denby

Cooley LLP

55 Hudson Yards

New York, NY 10001

Telephone: (212) 479-6000

 

 

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.

 

Large accelerated filer      Accelerated filer  
Non-accelerated filer      Smaller reporting company  
     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 7(a)(2)(B) of the Securities Act.   ☐

 

 

 


PART I

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the “Securities Act”).


PART II

 

ITEM 3.

INCORPORATION OF DOCUMENTS BY REFERENCE

The following documents filed by Acrivon Therapeutics, Inc. (the “Registrant”) with the Securities and Exchange Commission (the “Commission”) are incorporated by reference into this Registration Statement:

(a) The Registrant’s prospectus dated November 14, 2022 filed pursuant to Rule 424(b) under the Securities Act relating to the Registration Statement on Form S-1 (File No. 333-267911), which contains audited financial statements for the Registrant’s latest fiscal year for which such statements have been filed; and

(b) The description of the Registrant’s Common Stock contained in the Registrant’s Registration Statement on Form 8-A filed on November 7, 2022 (File No. 001-41551) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including any amendment or report filed for the purpose of updating such description.

All documents, reports and definitive proxy or information statements filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered hereby have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents; provided, however, that documents, reports and definitive proxy or information statements, or portions thereof, that are furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so 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

Not applicable.

 

ITEM 6.

INDEMNIFICATION OF DIRECTORS AND OFFICERS

Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation’s board of directors to grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities, including reimbursement for expenses incurred, arising under the Securities Act. The Registrant’s amended and restated certificate of incorporation provides that the Registrant is authorized to indemnify our directors and officers to the maximum extent permitted by the Delaware General Corporation Law or any other applicable law, and the Registrant’s amended and restated bylaws provide that the Registrant will indemnify its directors and executive officers to the extent not prohibited by the Delaware General Corporation Law or any other applicable law.


The Registrant has entered into indemnification agreements with its directors and officers, whereby it has agreed to indemnify its directors and officers to the fullest extent permitted by law, including indemnification against expenses and liabilities incurred in legal proceedings to which the director or officer is, or is threatened to be made, a party to or participant in by reason of the fact that such director or officer is or was a director of the Registrant or is or was serving at the request of the Registrant as a director, officer, employee, agent or fiduciary of any other entity, provided that such director or officer acted in good faith and in a manner that the director or officer reasonably believed to be in, or not opposed to, the best interest of the Registrant and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful. At present, there is no pending litigation or proceeding involving a director or officer of the Registrant regarding which indemnification is sought, nor is the registrant aware of any threatened litigation that may result in claims for indemnification.

The Registrant maintains insurance policies that indemnify its directors and officers against various liabilities arising under the Securities Act and the Exchange Act that might be incurred by any director or officer in his or her capacity as such.

Certain of the Registrant’s non-employee directors may, through their relationships with their employers, be insured and/or indemnified against certain liabilities incurred in their capacity as members of the Registrant’s board of directors.

 

ITEM 7.

EXEMPTION FROM REGISTRATION CLAIMED.

Not applicable.


ITEM 8.

EXHIBITS

 

Exhibit
Number
   Description    Incorporated by Reference    Filed
Herewith
   Schedule
Form
  

File

Number

   Exhibit    Filing Date
4.1    Second Amended and Restated Certificate of Incorporation of the Registrant (currently in effect)    S-1    333-267911    3.1    October 17, 2022   
4.2    Certificate of Amendment to Second Amended and Restated Certificate of Incorporation of the Registrant    S-1/A    333-267911    3.5    November 3, 2022   
4.3    Bylaws of the Registrant (currently in effect)    S-1    333-267911    3.2    October 17, 2022   
4.4    Form of Amended and Restated Certificate of Incorporation of the Registrant (to be effective upon the closing of the Registrant’s initial public offering of its common stock)    S-1/A    333-267911    3.3    November 3, 2022   
4.5    Form of Amended and Restated Bylaws of the Registrant (to be effective upon the closing of the Registrant’s initial public offering of its common stock)    S-1/A    333-267911    3.4    November 3, 2022   
4.6    2019 Stock Incentive Plan and Forms of Stock Option Agreement and Notice of Exercise    S-1    333-267911    10.1    October 17, 2022   
4.7    2022 Equity Incentive Plan and Forms of Stock Option Grant Notice, Stock Option Agreement, Notice of Exercise, Restricted Stock Unit Grant Notice and Restricted Stock Unit Award Agreement    S-1/A    333-267911    10.2    November 3, 2022   
4.8    2022 Employee Stock Purchase Plan    S-1/A    333-267911    10.3    November 3, 2022   


5.1    Opinion of Cooley LLP      X  
23.1    Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm      X  
23.2    Consent of Cooley LLP (included in Exhibit 5.1)      X  
24.1    Power of Attorney (included in signature pages of Registration Statement)      X  
107    Filing Fee Table      X  


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;

 

  (ii)

To reflect in the prospectus any facts or events arising after the effective date of the 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 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 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% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and

 

  (iii)

To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the 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 reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.

 

  (2)

That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered herein, 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, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(c)

Insofar as indemnification for liabilities arising under the Securities Act 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 Securities 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 Securities Act and will be governed by the final adjudication of such issue.


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Watertown, Commonwealth of Massachusetts, on this 17th day of November, 2022.

 

Acrivon Therapeutics, Inc.
By:  

/s/ Peter Blume-Jensen, M.D., Ph.D.

  Peter Blume-Jensen, M.D., Ph.D.
  Chief Executive Officer and President

POWER OF ATTORNEY

KNOW ALL BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Peter Blume-Jensen and Rasmus Holm-Jorgensen, and each of them, as his or her true and lawful agents, proxies and attorneys-in-fact, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to (i) act on, sign and file with the Securities and Exchange Commission any and all amendments (including post-effective amendments) to this Registration Statement together with all schedules and exhibits thereto and any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, together with all schedules and exhibits thereto, (ii) act on, sign and file such certificates, instruments, agreements and other documents as may be necessary or appropriate in connection therewith, (iii) act on and file any supplement to any prospectus included in this Registration Statement or any such amendment or any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and (iv) take any and all actions which may be necessary or appropriate to be done, as fully for all intents and purposes as he might or could do in person, hereby approving, ratifying and confirming all that such agent, proxy and attorney-in-fact or any of his substitutes may lawfully do or cause to be done by virtue thereof.

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.

 

Signature

  

Title

  

Date

/s/ Peter Blume-Jensen, MD, Ph.D.

Peter Blume-Jensen, M.D., Ph.D.

   Chief Executive Officer, President and Chairman of the Board (Principal Executive Officer)    November 17, 2022

/s/ Rasmus Holm-Jorgensen

Rasmus Holm-Jorgensen

   Chief Financial Officer (Principal Financial and Accounting Officer)    November 17, 2022

/s/ Derek DiRocco, Ph.D.

Derek DiRocco, Ph.D.

   Director    November 17, 2022

/s/ Kristina Masson, Ph.D.

Kristina Masson, Ph.D.

   Executive Vice President, Business Operations, Director    November 17, 2022

/s/ Sharon Shacham, Ph.D., M.B.A.

Sharon Shacham, Ph.D., M.B.A.

   Director    November 17, 2022

/s/ Michael Tomsicek, M.B.A.

Michael Tomsicek, M.B.A.

   Director    November 17, 2022
EX-5.1

Exhibit 5.1

 

LOGO

Ryan Sansom

+1 617 937 2335

rsansom@cooley.com

November 17, 2022

Acrivon Therapeutics, Inc.

480 Arsenal Way, Suite 100

Watertown, Massachusetts 02472

Ladies and Gentlemen:

We have acted as counsel to Acrivon Therapeutics, Inc., a Delaware corporation (the “Company”), in connection with the filing of a Registration Statement on Form S-8 (the “Registration Statement”) with the Securities and Exchange Commission covering the offering of up to 5,821,723 shares (the “Shares”) of Common Stock, par value $0.001 per share (the “Common Stock”), consisting of (a) 2,148,679 shares of Common Stock issuable pursuant to the Company’s 2019 Stock Incentive Plan (as amended, the “Existing Plan”), (b) 3,458,044 shares of Common Stock issuable pursuant to the Company’s 2022 Equity Incentive Plan (the “2022 EIP”) and (c) 215,000 shares of Common Stock issuable pursuant to the Company’s 2022 Employee Stock Purchase Plan (together with the Existing Plan and the 2022 EIP, the “Plans”).

In connection with this opinion, we have examined and relied upon (a) the Registration Statement and related prospectuses, (b) the Company’s certificate of incorporation and bylaws, each as currently in effect, (c) the forms of the Company’s certificate of incorporation and bylaws, each of which is to be in effect in connection with the closing of the Company’s initial public offering, in the forms filed as Exhibits 3.3 and 3.4, respectively, to the Company’s registration statement (No. 333-267911) on Form S-1, (d) the Plans, and (e) originals or copies certified to our satisfaction of such records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies, the accuracy, completeness and authenticity of certificates of public officials and the due authorization, execution and delivery by all persons other than by the Company of all documents where authorization, execution and delivery are prerequisites to the effectiveness thereof. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not independently verified such matters.

Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion to the extent that any other laws are applicable to the subject matter hereof and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation.

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Plans, the Registration Statement and related prospectuses, will be validly issued, fully paid, and nonassessable (except as to shares issued pursuant to deferred payment arrangements, which will be fully paid and nonassessable when such deferred payments are made in full).

We consent to the filing of this opinion as an exhibit to the Registration Statement.

Cooley LLP    500 Boylston St    Boston, MS    02116-3736

t: +1 617 937 2300 f: +1 617 937 2400 cooley.com


LOGO

Acrivon Therapeutics, Inc.

November 17, 2022

Page Two

 

Sincerely,
Cooley LLP
By:  

/s/ Ryan Sansom

  Ryan Sansom

Cooley LLP    500 Boylston St    Boston, MS    02116-3736

t: +1 617 937 2300 f: +1 617 937 2400 cooley.com

EX-23.1

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 Acrivon Therapeutics, Inc. of our report dated August 12, 2022, except for the effects of the reverse stock split discussed in Note 17 to the consolidated financial statements, as to which the date is November 3, 2022, relating to the financial statements of Acrivon Therapeutics, Inc., which appears in Acrivon Therapeutics, Inc’s Amendment No. 2 to the Registration Statement on Form S-1 (No. 333-267911).

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

November 17, 2022

EX-FILING FEES

Exhibit 107

Calculation of Filing Fee Tables

Registration Statement on Form S-8

Acrivon Therapeutics, Inc.

Table 1: Newly Registered Securities

 

               
Security Type  

Security

Class

Title

 

Fee

Calculation

Rule

 

Amount

Registered(1)

 

Proposed
Maximum
Offering

Price Per

Unit

 

Maximum

Aggregate

Offering

Price

 

Fee

Rate

  Amount of
Registration
Fee
               
Equity   Common Stock, par value $0.001 per share   Other   2,148,679 (2)(3)   $2.98 (4)   $6,403,063 (4)   $.00011020   $706
               
Equity   Common Stock, par value $0.001 per share   Other   1,097,168 (5)   $12.50 (4)   $13,714,600 (4)   $.00011020   $1,511
               
Equity   Common Stock, par value $0.001 per share   Other   1,768,619 (6)   $14.90 (7)   $26,352,423 (7)   $.00011020   $2,904
               
Equity   Common Stock, par value $0.001 per share   Other   592,257 (3)(8)   $14.90 (7)   $8,824,629 (7)   $.00011020   $972
               
Equity   Common Stock, par value $0.001 per share   Other   215,000 (9)   $12.67 (10)   $2,724,050 (10)   $.00011020   $300
         
Total Offering Amounts     $58,018,765     $6,393
         
Total Fee Offsets        
         
Net Fee Due               $6,393

 

(1)

Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of Registrant’s common stock, par value $0.001 (the “Common Stock”), that become issuable under the Registrant’s 2019 Stock Incentive Plan (the “Pre-IPO Plan”), 2022 Equity Incentive Plan (the “2022 Plan”), or 2022 Employee Stock Purchase Plan (the “2022 ESPP”) by reason of any stock dividend, stock split, recapitalization or other similar transaction that results in an increase in the number of outstanding shares of Registrant’s Common Stock.

 

(2)

Represents shares of Common Stock reserved for issuance pursuant to outstanding stock option awards under the Pre-IPO Plan as of the date of this Registration Statement.

 

(3)

Pursuant to the terms of the 2022 Plan, any shares subject to outstanding awards originally granted under the Pre-IPO Plan that: (i) are not issued because such stock award or any portion thereof expires or otherwise terminates without all of the shares covered by such stock award having been issued; (ii) are not issued because such stock award or any portion thereof is settled in cash; (iii) are forfeited back to or repurchased because of the failure to meet a contingency or condition required for the vesting of such shares; (iv) are withheld or reacquired to satisfy the exercise, strike or purchase price; or (v) are withheld or reacquired to satisfy a tax withholding obligation, shall become available for future issuance pursuant to the 2022 Plan.

 

(4)

Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) promulgated under the Securities Act. The proposed maximum offering price per share and the proposed maximum aggregate offering price are calculated using the weighted-average exercise price for such shares.

 

(5)

Represents shares of Common Stock reserved for issuance pursuant to outstanding stock option awards under the 2022 Plan as of the date of this Registration Statement.

 

(6)

Represents shares of Common Stock reserved for issuance upon vesting of outstanding restricted stock unit awards granted under the 2022 Plan as of the date of this Registration Statement.

 

(7)

Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) promulgated under the Securities Act. The proposed maximum offering price per share and the proposed maximum aggregate offering price are based upon $14.90, which is the average of the high and low prices of the Registrant’s Common Stock as reported on the Nasdaq Global Market on November 15, 2022.

 

(8)

Represents shares of common stock reserved for future issuance under the 2022 Plan. The number of shares reserved under the 2022 Plan will automatically increase on the first day of each fiscal year, starting on January 1, 2023 and continuing through January 1, 2032, in an amount equal to 5.0% of the total number of shares of the Registrant’s capital stock outstanding on December 31st of the preceding calendar year; provided, however, that the Registrant’s board of directors (the “Board”) may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares. The issuance of such shares is not being registered on this Registration Statement.

 

(9)

Represents shares of common stock reserved for future issuance under the 2022 ESPP. The number of shares reserved under the 2022 ESPP will automatically increase on the first day of each fiscal year, starting on January 1, 2023 and continuing through January 1, 2032, in an amount equal to 1.0% of the total number of shares of the Registrant’s common stock outstanding on December 31st of the preceding calendar year; provided, however, that the Board may act prior to January 1st of a given year to provide that there will be no increase for such year or that the increase for such year will be a lesser number of shares. The issuance of such shares is not being registered on this Registration Statement.

 

(10)

Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) promulgated under the Securities Act. The proposed maximum offering price per share and the proposed maximum aggregate offering price are based upon $12.67, which is the average of the high and low prices of the Registrant’s Common Stock as reported on the Nasdaq Global Market on November 15, 2022, multiplied by 85%, which is the percentage of the price per share applicable to purchases under the 2022 ESPP.