6-K 1 ea184562-6k_tiziana.htm REPORT OF FOREIGN PRIVATE ISSUER

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

September 2023

 

 

 

Commission File Number:  0001723069

 

 

 

Tiziana Life Sciences Ltd.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

4th Floor, 14-14 Conduit Street

London

W1S 2XJ

(Address of registrant’s principal executive office)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

 

 

 

 

 

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

 

On September 1, 2023, Tiziana Life Sciences Ltd. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (“B. Riley”), as sales agent. Pursuant to the terms of the Sales Agreement, the Company may issue and sell from time to time shares of its common shares, par value $0.001 per share, through B. Riley, acting as its sales agent, or directly to B. Riley, acting as principal. Pursuant to the Company’s prospectus supplement filed on September 1, 2023, the Company may issue and sell its common shares having an aggregate offering price of up to $50.0 million (the “Shares”).

 

Under the Sales Agreement, Shares will be offered and sold pursuant to the Company’s shelf registration statement on Form F-3 (File No. 333-252441) filed with the Securities and Exchange Commission (the “SEC”) on January 26, 2021, declared effective by the SEC on March 3, 2022. In addition, under the Sales Agreement, sales of Shares may be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended.

 

The Company will pay B. Riley a commission rate of up to 3.0% of the gross proceeds from each sale of Shares and has agreed to provide B. Riley with customary indemnification and contribution rights. The Company will also reimburse B. Riley for certain specified expenses in connection with entering into the Sales Agreement.

 

The Company has no obligation to sell any of the Shares under the Sales Agreement and may at any time suspend the offering of its common stock upon notice and subject to other conditions.

 

The Sales Agreement contains customary representations, warranties and agreements by the Company, other obligations of the parties and termination provisions.

 

The Company intends to use the net proceeds from the sale of any Shares sold under the Sales Agreement for general corporate purposes, which may include, among other things, increasing the Company’s working capital, financing ongoing operating expenses and overhead, funding capital expenditures, repayment of debt, acquisitions, and investments in the Company’s subsidiaries.

 

A copy of the Sales Agreement is filed as Exhibit 1.1 to this Form 6-K, and the description of the terms of the Sales Agreement in this Form 6-K is qualified in its entirety by reference to such exhibit. A copy of the opinion of Conyers Dill & Pearman Limited relating to the legality of the issuance and sale of the Shares is attached as Exhibit 5.1 hereto.

 

This Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy any Shares, nor shall there be any sale of Shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

 

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Exhibit Index

 

Exhibit No.

 

1.1   At Market Issuance Sales Agreement dated September 1, 2023 by and between Tiziana Life Sciences Ltd. and B. Riley Securities, Inc.
5.1   Opinion of Conyers Dill & Pearman Limited
23.1   Consent of Conyers Dill & Pearman Limited (included in Exhibit 5.1)

 

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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, thereunto duly authorized.

 

  TIZIANA LIFE SCIENCES LTD
       
Date: September 1, 2023 By: /s/ Keeren Shah
    Name:  Keeren Shah
    Title: Chief Financial Officer

 

 

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