UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): April 2, 2024
Roivant Sciences Ltd.
(Exact Name of Registrant as Specified in Charter)
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Bermuda
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001-40782
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98-1173944
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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7th Floor
50 Broadway
London SW1H 0DB
United Kingdom
(Address of Principal Executive Offices, and Zip Code)
+44 207 400-3347
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 (see General Instruction A.2. below):
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Written communication 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))
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Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered
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Common Shares, $0.0000000341740141 per share
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ROIV
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The Nasdaq Global Select Market
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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 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
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. ☐
Data Release
On April 2, 2024, Roivant Sciences Ltd. (“Roivant”) issued a press release announcing positive NEPTUNE study results for brepocitinib in non-anterior non-infectious uveitis, as well as authorization by Roivant’s board
of directors for an up to $1.5 billion common share repurchase program, including the repurchase of all common shares held by Sumitomo Pharma Co., Ltd. (“Sumitomo”) for approximately $648.4 million. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference into this Item 8.01.
As described in the press release, Roivant will host a conference call and webcast to discuss the NEPTUNE results and its share repurchase program
at 8:00 a.m. EDT on April 2, 2024.
Share Repurchase
Roivant’s board of directors has authorized a common share repurchase program, allowing for repurchases of Roivant common shares in an aggregate
amount of up to $1.5 billion (excluding fees and expenses). The repurchase program will be funded with available cash and cash equivalents on hand and does not have an expiration date. The timing and total amount of common shares to be
repurchased will depend on several factors, including the market price of the company’s common shares, general business, macroeconomic and market conditions and other investment opportunities. Under the repurchase program, purchases may be
conducted through open market transactions, tender offers or privately negotiated transactions, including the use of trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
Pursuant to the share repurchase program, on April 2, 2024 Roivant entered into a share repurchase agreement with Sumitomo to
repurchase all 71,251,083 common shares held by Sumitomo at a purchase price per share of $9.10, for an aggregate purchase price of approximately $648.4 million. The repurchase transaction with Sumitomo is expected to close on or about April
4, 2024.
The share repurchase program may be suspended or discontinued at any time. There can be no assurances as to how many additional common shares the
company will repurchase under the program, if any, or at what prices any purchases will be made.
| Item 9.01. |
Financial Statements and Exhibits.
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Exhibit No.
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Description of Exhibit
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Press Release dated April 2, 2024
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104
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Cover Page Interactive Data File (embedded with Inline XBRL document)
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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.
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ROIVANT SCIENCES LTD.
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By:
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Name: Matt Maisak
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Title: Authorized Signatory
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