As filed with the Securities and Exchange Commission on October
23, 2019
Registration No. 333-
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
S-8
REGISTRATION
STATEMENT UNDER THE
SECURITIES
ACT OF 1933
ORAMED
PHARMACEUTICALS INC.
(Exact
Name of Registrant as Specified in Its Charter)
| Delaware |
|
98-0376008 |
(State
or Other Jurisdiction of
Incorporation
or Organization) |
|
(I.R.S.
Employer
Identification
No.) |
| 1185 Avenue of the Americas, Suite 228, New York, New York |
|
10036 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Oramed
Pharmaceuticals Inc. 2019 Stock Incentive Plan
(Full
Title of the Plan)
Vcorp
Services, LLC
1811
Silverside Road
Wilmington,
Delaware 19810
(Name
and address of agent for service)
(888)
528 2677
(Telephone
number, including area code, of agent for service)
Copies
to:
Oded
Har-Even, Esq.
Howard
E. Berkenblit, Esq.
Zysman,
Aharoni, Gayer and
Sullivan
& Worcester LLP
1633
Broadway
New
York, NY 10019
Telephone:
(212) 660-3000
Facsimilie:
(212) 660-3001
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.
☐
CALCULATION
OF REGISTRATION FEE
Title
of Securities to be Registered | |
Amount
to be Registered(1) | | |
Proposed
maximum offering price per share | | |
Proposed
maximum aggregate offering price | | |
Amount
of registration fee | |
| Common
Stock, $0.012 par value per share | |
| 436,354 | | |
$ | 3.045 | (2) | |
$ | 1,328,698 | (2) | |
$ | 172.47 | |
| Common
Stock, $0.012 par value per share | |
| 200,000 | | |
$ | 3.69 | (3) | |
$ | 738,000 | (3) | |
$ | 95.80 | |
| Common
Stock, $0.012 par value per share | |
| 300,500 | | |
$ | 3.16 | (3) | |
$ | 949,580 | (3) | |
$ | 123.26 | |
| Common
Stock, $0.012 par value per share | |
| 10,000 | | |
$ | 4.17 | (3) | |
$ | 41,700 | (3) | |
$ | 5.42 | |
| Common
Stock, $0.012 par value per share | |
| 33,146 | | |
$ | 3.55 | (3) | |
$ | 117,668 | (3) | |
$ | 15.28 | |
| Common
Stock, $0.012 par value per share | |
| 20,000 | | |
$ | 4.13 | (3) | |
$ | 82,600 | (3) | |
$ | 10.73 | |
| Total | |
| 1,000,000 | | |
| N/A | | |
$ | 3,258,246 | | |
$ | 422.96 | |
| (1) | Pursuant
to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), the shares being registered hereunder
include such indeterminate number of shares of our common stock as may be issued from time to time with respect to the shares
being registered hereunder as a result of stock splits, stock dividends or similar transactions. |
| (2) | Estimated
solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act and based
upon the average of the high and low prices of the registrant’s common stock as reported on the Nasdaq Capital Market on
October 18, 2019. |
| (3) | Computed
in accordance with Rule 457(h) promulgated under the Securities Act based on the exercise price of the options underlying the
ordinary shares. |
PART
I
INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS
The
information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in
accordance with Rule 428 under the Securities Act of 1933, as amended (the “Securities Act”), and the Note to Part
I of Form S-8.
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item
3. Incorporation of Documents by Reference
The
following documents, which have been filed by us with the Securities and Exchange Commission (the “Commission”), are
incorporated by reference in and made a part of this registration statement, as of their respective dates:
(a)
Our Annual Report on Form 10-K for the fiscal year ended August 31, 2018, filed with the Commission on November 28,
2018;
(b)
Our Quarterly Reports on Form 10-Q for the quarterly period ended November 30, 2018, filed with the Commission on January 14, 2019; for the quarterly period ended February 29, 2019, filed with the Commission on April 10, 2019; and for the quarterly
period ended May 31, 2019, filed with the Commission on July 10, 2019;
(c)
Our Current Reports on Form 8-K filed with the Commission on September 17, 2018, November 8, 2018, December 14, 2018, March 13, 2019, March 28, 2019, April 16, 2019, May 16, 2019, July 1, 2019, July 29, 2019, August 21, 2019 and September 5, 2019;
and
(d)
The description of our common stock contained in our Form 8-A filed with the Commission on May 29, 2003, as updated by
our Form 8-A filed with the Commission on February 7, 2013, including any amendments or reports filed for purposes of
updating such description.
All
documents subsequently filed by us with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange
Act of 1934 (the “Exchange Act”), as amended, prior to the filing of a post-effective amendment which indicates that
all securities offered have been sold or which 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.
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 herein, or in any subsequently filed
document which also is or is deemed to be incorporated by reference, modifies or supersedes such statement. Any 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
Delaware
law generally permits us to indemnify our directors, officers, employees and agents. A Delaware corporation may indemnify any
person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason
of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request
of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably
incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the
person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe the person’s conduct was unlawful. With respect to actions by or
in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such
person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the
court in which such action or suit is brought shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which
such court shall deem proper. To the extent that a former or present director or officer is successful, on the merits or otherwise,
in defense of any action, suit, or proceeding subject to the Delaware corporate statute’s indemnification provisions, or
in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys’
fees) actually and reasonably incurred by such person in connection therewith.
Delaware
law provides that expenses incurred by an officer or director in defending any civil, criminal, administrative or investigative
action, suit or proceeding may be paid by the corporation in advance of the final disposition of the action, suit or proceeding
upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined that
he or she is not entitled to be indemnified by the corporation. A Delaware corporation has the discretion to decide whether or
not to advance expenses, unless provided otherwise in its certificate of incorporation or by-laws.
Our
Amended and Restated By-laws provide that we shall indemnify our directors and officers to the fullest extent authorized under
Delaware law, and that we will advance expenses to any officer or director in advance of the final disposition of the proceeding
upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined that
he or she is not entitled to be indemnified by us.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling
persons under Delaware law or otherwise, we have been advised that the opinion of the Commission, is that such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
We
entered into indemnification agreements with our directors and officers pursuant to which we agreed to indemnify each director
and officer for any liability he or she may incur by reason of the fact that he or she serves as our director or officer, to the
maximum extent permitted by law.
We
maintain standard policies of insurance that provide coverage to our directors and officers against loss rising from claims made
by reason of breach of duty or other wrongful act.
Item
7. Exemption from Registration Claimed
Not
applicable.
Item
8. Exhibits
See
the Index to Exhibits included herewith and beginning at page 5.
Item
9. Undertakings
(a)
We hereby undertake:
(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 this Registration Statement (or the most
recent post-effective amendment hereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this 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 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 us pursuant to Section 13 or 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, each such post-effective amendment 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.
(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)
We hereby undertake that, for purposes of determining any liability under the Securities Act, each filing of our annual report
pursuant to Section 13(a) or 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 this 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 our directors, officers and controlling
persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the 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 our payment of expenses incurred or paid by a director, officer or controlling person 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, we will, unless in the opinion of our counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy
as expressed in the Securities Act and will be governed by the final adjudication of such issue.
EXHIBIT
INDEX
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 New York, New York, on October 23, 2019.
| |
ORAMED
PHARMACEUTICALS INC. |
| |
|
| |
By: |
/s/
Nadav Kidron |
| |
Name: |
Nadav Kidron |
| |
Title: |
President
and Chief Executive Officer |
Each
person whose signature appears below authorizes each of Nadav Kidron and Avraham Gabay, or either of them acting individually,
as his or her true and lawful attorney-in-fact, each with full power of substitution, to sign the Registration Statement on Form
S-8 of Oramed Pharmaceuticals Inc., including any and all post-effective amendments, in the name and on behalf of each such person,
individually and in each capacity stated below, and to file the same, with exhibits thereto and other documents in connection
therewith with the Securities and Exchange Commission.
Pursuant
to the requirements of the Securities Act of 1933, this registration statement on Form S-8 has been signed below by the following
persons in the capacities and on the dates indicated.
| Signature |
|
Title |
|
Date |
| |
|
|
|
|
| /s/
Nadav Kidron |
|
|
|
October 23, 2019 |
| Nadav
Kidron |
|
President,
Chief Executive Officer and Director (Principal Executive Officer) |
|
|
| |
|
|
|
|
| /s/
Avraham Gabay |
|
|
|
October 23, 2019 |
| Avraham
Gabay |
|
Chief
Financial Officer, Treasurer and Secretary (Principal Financial Officer and Principal Accounting Officer) |
|
|
| |
|
|
|
|
| /s/
Aviad Friedman |
|
|
|
October 23, 2019 |
| Aviad
Friedman |
|
Director |
|
|
| |
|
|
|
|
| /s/
Miriam Kidron |
|
|
|
October 23, 2019 |
| Miriam
Kidron |
|
Director |
|
|
| |
|
|
|
|
| /s/
Kevin Rakin |
|
|
|
October 23, 2019 |
| Kevin
Rakin |
|
Director |
|
|
| |
|
|
|
|
| /s/
Leonard Sank |
|
|
|
October 23, 2019 |
| Leonard
Sank |
|
Director |
|
|
| |
|
|
|
|
| /s/
Gao Xiaoming |
|
|
|
October 23, 2019 |
| Gao
Xiaoming |
|
Director |
|
|
6
