Attached files
| file | filename |
|---|---|
| EX-32.2 - CERTIFICATION - Longeveron Inc. | f10k2020a1ex32-2_longeveron.htm |
| EX-32.1 - CERTIFICATION - Longeveron Inc. | f10k2020a1ex32-1_longeveron.htm |
| EX-31.2 - CERTIFICATION - Longeveron Inc. | f10k2020a1ex31-2_longeveron.htm |
| EX-31.1 - CERTIFICATION - Longeveron Inc. | f10k2020a1ex31-1_longeveron.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, 2020
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: 001-38295
LONGEVERON INC.
(Exact name of registrant as specified in its charter)
| Delaware | 47-2174146 | |
| (State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification Number) | |
| 1951 NW 7th Avenue, Suite 520 | ||
| Miami, Florida 33136 | 33136 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(305) 909-0840
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||
| Common Stock, par value $0.0001 | LGVN | The Nasdaq Capital Market |
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 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 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. Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer 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 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒
The aggregate market value of the voting and non-voting common equity held by non-affiliates was approximately $6,000,000 as of June 30, 2020 (the last business day of the registrant’s most recently completed second fiscal quarter).
As of March 30, 2021, the registrant had 3,254,077 shares of Class A common stock, $0.001 par value per shares, and 15,702,834 shares of the Class B common stock, $0.001 par value per share, outstanding.
Longeveron inc.
explanatory note
This Amendment No. 1 on Form 10-K/A is filed solely to amend and restate Item 12 in Part III of the Form 10-K for the fiscal year ended on December 31, 2020, which was filed on March 30, 2020 (the “Form 10-K”), in order to correct certain numbers in the Security Ownership of Certain Beneficial Owners table. No other changes to the Form 10-K are included in this Amendment No. 1 other than as described above. This Amendment No. 1 does not modify or update any financial or other disclosures presented in the Form 10-K other than as noted above, and does not reflect events occurring after the filing of the Form 10-K. Accordingly, this Amendment No. 1 should be read in conjunction with the Form 10-K, which provides information as of the date thereof. Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 also contains new certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, which are attached hereto.
PART III
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The following table sets forth information with respect to the beneficial ownership of our Class A common stock and Class B common stock, giving pro forma effect to the Corporate Conversion, as of March 30, 2021 by:
| ● | each person, or group of affiliated persons, known by us to beneficially own more than 5% of our outstanding shares of common stock (other than named executive officers and directors); | |
| ● | each of our named executive officers; | |
| ● | each of our directors; and | |
| ● | all of our executive officers and directors as a group. |
The number of shares beneficially owned by each stockholder is determined in accordance with the rules issued by the SEC, and the information is not necessarily indicative of beneficial ownership for any other purpose. Under these rules, beneficial ownership includes any shares as to which the individual or entity has sole or shared voting power or investment power, which includes the power to dispose of or to direct the disposition of such security. Except as indicated in the footnotes below, we believe, based on the information furnished to us, that the individuals and entities named in the table below have sole voting and investment power with respect to all shares of Class A common stock and/or Class B common stock beneficially owned by them, subject to any community property laws.
Percentage ownership of our Class A common stock and Class B common stock is based on 3,254,077 shares of Class A common stock and 15,702,834 shares of Class B common stock as of March 30, 2021. In computing the number of shares beneficially owned by an individual or entity and the percentage ownership of that person, shares of Class A common stock subject to options, restricted units, warrants or other rights held by such person that are currently exercisable or will become exercisable within 60 days of March 30, 2021 are considered outstanding, although these shares are not considered outstanding for purposes of computing the percentage ownership of any other person.
Unless otherwise indicated, the address of each beneficial owner listed below is c/o Longeveron Inc., 1951 NW 7th Ave, Suite 520, Miami, FL 33136. To our knowledge, there is no arrangement, including any pledge by any person of securities of the Company, the operation of which may at a subsequent date result in a change in control of the Company.
| Beneficial Ownership | ||||||||||||||||||||||||
| Class A Common Stock | Class B Common Stock | % of Total Voting | % of Total Common Stock Beneficially | |||||||||||||||||||||
| Name of Beneficial Owner | Shares | % | Shares | % | Power(1) | Owned | ||||||||||||||||||
| 5% Stockholders: | ||||||||||||||||||||||||
| DS MED LLC(2) | 100,000 | 3.07 | 7,772,902 | 49.50 | 47.65 | 41.53 | ||||||||||||||||||
| Named Executive Officers and Directors: | ||||||||||||||||||||||||
| Donald M. Soffer(3) | - | * | - | * | * | * | ||||||||||||||||||
| Joshua M. Hare, M.D.(4) | 13,000 | * | 7,772,902 | 49.50 | 47.55 | 41.07 | ||||||||||||||||||
| Neil E. Hare(5) | 894 | * | - | * | * | * | ||||||||||||||||||
| Rock Soffer(6) | 100 | * | - | * | * | * | ||||||||||||||||||
| Douglas Losordo, M.D.(6) | - | * | - | * | * | * | ||||||||||||||||||
| Erin Borger(7) | 17,836 | * | - | * | * | * | ||||||||||||||||||
| Cathy Ross(8) | - | * | - | * | * | * | ||||||||||||||||||
| Geoff Green(9) | - | * | - | * | * | * | ||||||||||||||||||
| James Clavijo(10) | - | * | - | * | * | * | ||||||||||||||||||
| Paul Lehr(11) | - | * | - | * | * | * | ||||||||||||||||||
| All Executive Officers and Directors as a Group (10 individuals): | 31,830 | * | 7,772,902 | 49.50 | 47.57 | 41.17 | ||||||||||||||||||
| * | Less than 1% |
| (1) | Percentage of total voting power represents voting power with respect to all shares of our Class A common stock and Class B common stock, as a single class. The holders of our Class B common stock are entitled to five (5) votes per share, and holders of our Class A common stock are entitled to one (1) vote per share. See the section titled “Description of Capital Stock — Common Stock — Voting Rights” for additional information about the voting rights of our Class A common stock and Class B common stock. |
| (2) | DS MED LLC is a Delaware limited liability company for which Donald M. Soffer, a member of our Board, serves as the sole manager and a member. Mr. Soffer disclaims beneficial ownership except to the extent of his pecuniary interest. Shares of Class A common stock consist of 100,000 shares purchased in the IPO by DS MED LLC. |
| (3) | Mr. Soffer is a member of the board of directors. |
| (4) | Includes 12,000 shares of Class A common stock purchased in the IPO and 1,000 shares of Class A common stock purchased in the open market. Dr. Hare is a member of the Board and CSO. Dr. Hare disclaims beneficial ownership except to the extent of his pecuniary interest. |
| (5) | Includes 894 shares of Class A common stock owned by Global Vision Communications, LLC, where Mr. Hare is the managing member. Mr. Hare is a member of the Board. Mr. Hare disclaims beneficial ownership except to the extent of his pecuniary interest. |
| (6) | Mr. Losordo is a member of the board of directors. |
| (7) | Shares of Class A common stock consist of 17,836 shares owned by EB Pharm, LLC, an entity owned by Mr. Borger. Mr. Borger is a member of the Board. Mr. Borger disclaims beneficial ownership except to the extent of his pecuniary interest. |
| (8) | Ms. Ross is a member of the board of directors. |
| (9) | Mr. Green is the Chief Executive Officer. |
| (10) | Mr. Clavijo is the Chief Financial Officer. |
| (11) | Mr. Lehr is the International Executive Director, General Counsel, and Secretary. |
ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
| # | Indicates management contract or compensatory plan. |
| * | Portions of this exhibit (indicated by asterisks) have been redacted in compliance with Regulation S-K Item 601(b)(10)(iv). | |
| ** | Previously filed or furnished (as applicable) as an exhibit to the Company’s Annual Report on Form 10-K filed on March 30, 2021. | |
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this Amendment No. 1 to its Annual Report on Form 10-K/A to be signed on its behalf by the undersigned, thereunto duly authorized, as of April 9, 2021.
| LONGEVERON INC | ||
| By: | /s/ Geoff Green | |
| Geoff Green | ||
| Chief Executive Officer (Principal Executive Officer) | ||