NovoCure Ltd - FORM 10-K/A - March 1, 2017

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EX-32.4 - EX-32.4 - NovoCure Ltdd319294dex324.htm
EX-32.3 - EX-32.3 - NovoCure Ltdd319294dex323.htm
EX-23.1 - EX-23.1 - NovoCure Ltdd319294dex231.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 10-K/A

(Amendment No. 1)

 

 

(Mark One)

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2016

or

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                  to                 

Commission File Number 001-37565

 

 

NovoCure Limited

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Jersey   98-1057807

(State or Other Jurisdiction of

Incorporation or Organization)

  

(I.R.S. Employer

Identification No.)

Le Masurier House

La Rue Le Masurier

St. Helier, Jersey JE2 4YE

(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: +44 (0) 15 3475 6700

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

 

Title of each class

  

Name of each exchange on which registered

Ordinary shares, no par value per share   NASDAQ Global Select Market

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

None

(Title of Class)

 

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ☐    No  ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ☐    No  ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.:

 

Large accelerated filer   ☐    Accelerated filer   ☒
Non-accelerated filer   ☐  (Do not check if a smaller reporting company)    Smaller reporting company   ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

The aggregate market value of the outstanding common equity of the registrant held by non-affiliates as of the last business day of the registrant’s most recently completed second fiscal quarter was $512,770,254.

The number of shares of the registrant’s ordinary shares outstanding as of February 16, 2017 was 87,072,949.

 

 

 

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 on Form 10-K/A (the “Amendment”) to NovoCure Limited’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, which was originally filed with the U.S. Securities and Exchange Commission on February 23, 2017 (the “Original Filing”), is to include the following exhibit, which was inadvertently omitted from the Original Filing:

 

Exhibit
Number

   

Description

23.1    Consent of Kost Forer Gabbay & Kasierer

Except as described above, no other amendments have been made to the Original Filing. This Amendment does not contain updated disclosures to reflect events that have occurred since the date of the Original Filing. Accordingly, this Amendment should be read in conjunction with the Original Filing and NovoCure Limited’s other filings with the Securities and Exchange Commission.

PART IV

 

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a) DOCUMENTS FILED AS PART OF THIS REPORT

The following is a list of our consolidated financial statements and our subsidiaries and supplementary data filed as part of the Original Filing:

1. FINANCIAL STATEMENTS AND SUPPLEMENTAL DATA

Report of Independent Registered Public Accounting Firm.

Consolidated Balance Sheets as of December 31, 2016 and 2015.

Consolidated Statements of Operations for the years ended December 31, 2016, 2015 and 2014.

Consolidated Statement of Comprehensive Loss for the years ended December 31, 2016, 2015 and 2014.

Consolidated Statements of Shareholders’ Equity for the years ended December 31, 2016, 2015 and 2014.

Consolidated Statements of Cash Flows for the years ended December 31, 2016, 2015 and 2014.

Notes to Consolidated Financial Statements.

2. FINANCIAL STATEMENT SCHEDULES

Schedules are omitted because they are not applicable or are not required, or because the required information is included in the consolidated financial statements or notes thereto.

(b) EXHIBITS

The following is a list of exhibits. Where so indicated by footnote, exhibits that were previously filed are incorporated by reference. For exhibits incorporated by reference, the location of the exhibit in the previous filing is indicated.

 

Exhibit

Number

        

Incorporated by Reference

   

Filed

Herewith

  

Exhibit Description

   

Form

   

Date

   

Number

   
  3.1    Memorandum and Articles of Association    S-1/A    9/21/15    3.5   
  4.1    Form of Ordinary Shares Certificate    S-1/A    9/21/15    4.1   
  4.2    Eleventh Amended and Restated Investors Rights Agreement, dated June 1, 2015    DRS    6/24/15    4.2   
  4.3    Tenth Amended and Restated Registration Rights Agreement, dated June 1, 2015    DRS    6/24/15    4.3   
10.1   

Loan and Security Agreement between the Company and Biopharma Secured

Investments III Holdings Cayman LP, dated January 7, 2015

    DRS    6/24/15    10.1   
10.2    Strategic Supplier Agreement between the Company and ITT Corporation (assigned to Exelis Inc.), dated July 21, 2011, as amended on April 29, 2014†    DRS    6/24/15    10.2   
10.3    2003 Share Option Plan#    DRS    6/24/15    10.3   
10.4    2013 Share Option Plan#    DRS    6/24/15    10.4   
10.5    2015 Omnibus Incentive Plan#    S-1/A    9/21/15    10.5   
10.6    Employment Agreement with Kinyip Gabriel Leung and the Company, dated August 24, 2011†#    DRS    6/24/15    10.8   
10.7    Consulting Agreement with Palti Consultants Ltd. and the Company, dated May 1, 2002†#    DRS    6/24/15    10.10   
10.8    Settlement Agreement with the Technion, dated February 10, 2015    DRS/A    8/11/2015    10.13   
10.9    Director Compensation Plan#    S-1/A    9/21/15    10.14   
10.10    Employee Share Purchase Plan#    S-1/A    9/21/15    10.15   
10.11    Form of Non-Qualified Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan (U.S. individuals)#    S-1/A    9/21/15    10.17   
10.12    Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan (U.S. individuals)#    S-1/A    9/21/15    10.18   
10.13    2015 Omnibus Incentive Plan, including 2015 Omnibus Incentive Plan Sub-Plan for Grantees Subject to Israeli Taxation and 2015 Omnibus Incentive Plan Sub-Plan for Switzerland#    8-K    12/22/15    10.1   
10.14   

Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Grantees Subject to Israeli Taxation (non-102(b) grants)#

    8-K    12/22/15    10.2   
10.15   

Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Grantees Subject to Israeli Taxation (102(b) grants)#

    8-K    12/22/15    10.3   
10.16   

Form of Stock Option Award Agreement based on the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Switzerland#

    8-K    12/22/15    10.4   
10.17    Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in Japan#    8-K    12/22/15    10.5   
10.18    Form of Stock Option Award Agreement based on the 2015 Omnibus Incentive Plan for use in Germany#    10-K    03/01/16    10.25   
10.19    Form of Indemnification Agreement    8-K    3/22/16    10.1   
10.20    Employment Agreement, dated as of May 11, 2016, by and between Novocure USA LLC and William F. Doyle#    8-K    5/13/16    10.1   
10.21    Israeli SubPlan to the NovoCure Limited Employee Share Purchase Plan#    8-K    6/30/16    10.1   
10.22    Non-Employee Director Compensation Program#    10-Q    7/28/16    10.1   

Exhibit

Number

        

Incorporated by Reference

   

Filed

Herewith

  

Exhibit Description

   

Form

   

Date

   

Number

   
10.23    Employment Agreement, dated as of October 10, 2016, by and between NovoCure (Israel) Ltd. and Asaf Danziger#    8-K    10/14/16    10.1   
10.24    Employment Agreement, dated as of October 10, 2016, by and between Novocure USA LLC and Wilhelmus Groenhuysen#    8-K    10/14/16    10.2   
10.25    Amendment to Employment Agreement, dated as of December 23, 2016, by and between NovoCure USA LLC and Gabriel Leung#    8-K    12/30/16    10.1   
10.26    First Amendment to Loan and Security Agreement, dated as of December 23, 2016, by and between the Company and BioPharma Secured Investments III Holdings Cayman LP    8-K    12/30/16    10.2   
10.27    Employment Agreement, dated as of October 10, 2016, by and between NovoCure (Israel) Ltd. and Eilon Kirson#    10-K    2/23/17    10.27   
10.28    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for USA#    10-K    2/23/17    10.28   
10.29    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Israel#    10-K    2/23/17    10.29   
10.30    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Switzerland#    10-K    2/23/17    10.30   
10.31    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Japan#    10-K    2/23/17    10.31   
21    Subsidiaries    10-K    2/23/17    21   
23.1    Consent of Kost Forer Gabbay & Kasierer             X
31.1    Certification of Principal Executive Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended    10-K    2/23/17    31.1   
31.2    Certification of Principal Financial Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended    10-K    2/23/17    31.2   
32.1*    Certification of Principal Executive Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350    10-K    2/23/17    32.1   
32.2*    Certification of Principal Financial Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350    10-K    2/23/17    32.2   
32.3*    Certification of Principal Executive Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350             X
32.4*    Certification of Principal Financial Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350             X
101.INS    XBRL Instance Document    10-K    2/23/17    101.INS   
101.SCH    XBRL Taxonomy Extension Schema Document    10-K    2/23/17    101.SCH   
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document    10-K    2/23/17    101.CAL   
101.DEF    XBRL Taxonomy Extension Definition Linkbase Document    10-K    2/23/17    101.DEF   
101.LAB    XBRL Taxonomy Extension Label Linkbase Document    10-K    2/23/17    101.LAB   
101.PRE    XBRL Extension Presentation Linkbase Document    10-K    2/23/17    101.PRE   

 

* The certifications attached as Exhibits 32.1 through 32.4 that accompany the Original Filing and this Amendment, as applicable, are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of NovoCure Limited under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Amendment, irrespective of any general incorporation language contained in such filing.
† Confidential treatment has been granted for certain information set forth in this exhibit. Such information has been omitted and filed separately with the Securities and Exchange Commission.
# Compensation plans and arrangements for executive officers and others.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

Date: March 1, 2017

 

NOVOCURE LIMITED
By:  

/S/ Asaf Danziger

  Asaf Danziger
  Chief Executive Officer

EXHIBIT INDEX

 

Exhibit

Number

   

Exhibit Description

   

Incorporated by Reference

    Filed
Herewith
     

Form

   

Date

    Number   
  3.1    Memorandum and Articles of Association    S-1/A    9/21/15    3.5   
  4.1    Form of Ordinary Shares Certificate    S-1/A    9/21/15    4.1   
  4.2    Eleventh Amended and Restated Investors Rights Agreement, dated June 1, 2015    DRS    6/24/15    4.2   
  4.3    Tenth Amended and Restated Registration Rights Agreement, dated June 1, 2015    DRS    6/24/15    4.3   
10.1    Loan and Security Agreement between the Company and Biopharma Secured Investments III Holdings Cayman LP, dated January 7, 2015    DRS    6/24/15    10.1   
10.2    Strategic Supplier Agreement between the Company and ITT Corporation (assigned to Exelis Inc.), dated July 21, 2011, as amended on April 29, 2014†    DRS    6/24/15    10.2   
10.3    2003 Share Option Plan#    DRS    6/24/15    10.3   
10.4    2013 Share Option Plan#    DRS    6/24/15    10.4   
10.5    2015 Omnibus Incentive Plan#    S-1/A    9/21/15    10.5   
10.6    Employment Agreement with Kinyip Gabriel Leung and the Company, dated August 24, 2011†#    DRS    6/24/15    10.8   
10.7    Consulting Agreement with Palti Consultants Ltd. and the Company, dated May 1, 2002†#    DRS    6/24/15    10.10   
10.8    Settlement Agreement with the Technion, dated February 10, 2015    DRS/A    8/11/2015    10.13   
10.9    Director Compensation Plan#    S-1/A    9/21/15    10.14   
10.10    Employee Share Purchase Plan#    S-1/A    9/21/15    10.15   
10.11    Form of Non-Qualified Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan (U.S. individuals)#    S-1/A    9/21/15    10.17   
10.12    Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan (U.S. individuals)#    S-1/A    9/21/15    10.18   
10.13    2015 Omnibus Incentive Plan, including 2015 Omnibus Incentive Plan Sub-Plan for Grantees Subject to Israeli Taxation and 2015 Omnibus Incentive Plan Sub-Plan for Switzerland#    8-K    12/22/15    10.1   
10.14   

Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Grantees Subject to Israeli Taxation (non-102(b) grants)#

    8-K    12/22/15    10.2   
10.15   

Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Grantees Subject to Israeli Taxation (102(b) grants)#

    8-K    12/22/15    10.3   
10.16   

Form of Stock Option Award Agreement based on the 2015 Omnibus Incentive Plan for use in connection with the 2015 Omnibus Incentive Plan

Sub-Plan for Switzerland#

    8-K    12/22/15    10.4   
10.17    Form of Incentive Stock Option Agreement pursuant to the 2015 Omnibus Incentive Plan for use in Japan#    8-K    12/22/15    10.5   
10.18    Form of Stock Option Award Agreement based on the 2015 Omnibus Incentive Plan for use in Germany#    10-K    03/01/16    10.25   
10.19    Form of Indemnification Agreement    8-K    3/22/16    10.1   
10.20    Employment Agreement, dated as of May 11, 2016, by and between Novocure USA LLC and William F. Doyle#    8-K    5/13/16    10.1   
10.21    Israeli SubPlan to the NovoCure Limited Employee Share Purchase Plan#    8-K    6/30/16    10.1   
10.22    Non-Employee Director Compensation Program#    10-Q    7/28/16    10.1   
10.23    Employment Agreement, dated as of October 10, 2016, by and between NovoCure (Israel) Ltd. and Asaf Danziger#    8-K    10/14/16    10.1   

Exhibit

Number

   

Exhibit Description

   

Incorporated by Reference

    Filed
Herewith
     

Form

   

Date

    Number   
10.24    Employment Agreement, dated as of October 10, 2016, by and between Novocure USA LLC and Wilhelmus Groenhuysen#    8-K    10/14/16    10.2   
10.25    Amendment to Employment Agreement, dated as of December 23, 2016, by and between NovoCure USA LLC and Gabriel Leung#    8-K    12/30/16    10.1   
10.26    First Amendment to Loan and Security Agreement, dated as of December 23, 2016, by and between the Company and BioPharma Secured Investments III Holdings Cayman LP    8-K    12/30/16    10.2   
10.27    Employment Agreement, dated as of October 10, 2016, by and between NovoCure (Israel) Ltd. and Eilon Kirson#    10-K    2/23/17    10.27   
10.28    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for USA#    10-K    2/23/17    10.28   
10.29    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Israel#    10-K    2/23/17    10.29   
10.30    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Switzerland#    10-K    2/23/17    10.30   
10.31    Form of Restricted Share Unit Award Notice pursuant to the 2015 Omnibus Incentive Plan – Form of Agreement for Japan#    10-K    2/23/17    10.31   
  21    Subsidiaries    10-K    2/23/17    21   
23.1    Consent of Kost Forer Gabbay & Kasierer             X
31.1    Certification of Principal Executive Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended    10-K    2/23/17    31.1   
31.2    Certification of Principal Financial Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended    10-K    2/23/17    31.2   
32.1*    Certification of Principal Executive Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350    10-K    2/23/17    32.1   
32.2*    Certification of Principal Financial Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350    10-K    2/23/17    32.2   
32.3*    Certification of Principal Executive Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350             X
32.4*    Certification of Principal Financial Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350             X
101.INS    XBRL Instance Document    10-K    2/23/17    101.INS   
101.SCH    XBRL Taxonomy Extension Schema Document    10-K    2/23/17    101.SCH   
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document    10-K    2/23/17    101.CAL   
101.DEF    XBRL Taxonomy Extension Definition Linkbase Document    10-K    2/23/17    101.DEF   
101.LAB    XBRL Taxonomy Extension Label Linkbase Document    10-K    2/23/17    101.LAB   
101.PRE    XBRL Extension Presentation Linkbase Document    10-K    2/23/17    101.PRE   

 

* The certifications attached as Exhibits 32.1 through 32.4 that accompany the Original Filing and this Amendment, as applicable, are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of NovoCure Limited under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Amendment, irrespective of any general incorporation language contained in such filing.
† Confidential treatment has been granted for certain information set forth in this exhibit. Such information has been omitted and filed separately with the Securities and Exchange Commission.
# Compensation plans and arrangements for executive officers and others.

NovoCure Ltd Reports