Avant Immunotherapeutics Inc - Current report filing (8-K)
30 Mai 2008 - 7:54PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 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):
May 27, 2008
AVANT
IMMUNOTHERAPEUTICS, INC.
(Exact name of
registrant as specified in its charter)
Delaware
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0-15006
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13-3191702
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(State or other
jurisdiction
of incorporation)
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(Commission File
Number)
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(IRS Employer
Identification No.)
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119 Fourth Avenue
Needham,
Massachusetts 02494-2725
(Address of
principal executive offices) (Zip Code)
(781) 433-0771
(Registrants
telephone number, including area code)
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:
o
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive
Agreement
On
May 27, 2008, in conjunction with the closing of the transactions
contemplated by the License and Development Agreement dated April 16, 2008
(License and Development Agreement) between Celldex Therapeutics, Inc.
(Celldex), a wholly-owned subsidiary of AVANT Immunotherapeutics, Inc.
(the Registrant) and Pfizer Vaccines, LLC (Pfizer Vaccines), the Registrant
entered into a Common Stock Purchase Agreement with Pfizer Vaccines (the
Common Stock Purchase Agreement), whereby the Registrant sold 781,250 shares
of the Registrants common stock, at a price per share of $12.80, to Pfizer
Vaccines, LLC (Pfizer Vaccines), for aggregate cash consideration to the
Registrant of $10,000,000. The sale of
the shares of common stock will not be registered under the Securities Act of
1933. Rather, the offer of such shares
was, and sale of such shares will be, made in reliance on the exemption from
registration requirements provided by Section 4(2) of the Securities
Act and Regulation D promulgated thereunder.
Pfizer Vaccines is accredited (as defined under Regulation D) and no
general solicitation was or is being used in connection with the offer and sale
of such securities.
Under
the terms of the Common Stock Purchase Agreement, the Registrant will grant to
Pfizer Vaccines piggyback registration rights, and demand registration rights
on Form S-3 (no more than twice during any twelve-month period in the case
of demand registration on Form S-3).
These registration rights would expire upon the earlier of the sale of
all of the common stock subject to those rights, or the fifth anniversary of
the date of the Common Stock Purchase Agreement, and are not assignable by
Pfizer Vaccines except to an affiliate of Pfizer Vaccines. Pfizer Vaccines has agreed to refrain from
selling the shares of common stock purchased under the Common Stock Purchase
Agreement for one year after signing the Common Stock Purchase Agreement,
provided that it can sell up to 10% of such shares of common stock during any
rolling 90-day period from and after the six-month anniversary of the signing of
that agreement. Pfizer Vaccines will
also be subject to a limited standstill agreement with the Registrant.
Item
3.02. Unregistered Sales of
Equity Securities
The
information in Item 1.01 of this Current Report on Form 8-K regarding the
sale of common stock to Pfizer Vaccines is incorporated by reference in its
entirety herein.
2
SIGNATURE
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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AVANT
IMMUNOTHERAPEUTICS, INC.
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Date:
May 30, 2008
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By:
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/s/
Avery W. Catlin
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Avery
W. Catlin
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Title:
Senior Vice President and
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Chief
Financial Officer
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3
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