S-8

As filed with the Securities and Exchange Commission on March 13, 2024

Registration No. 333-   

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

SCPHARMACEUTICALS INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   46-5184075

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

25 Mall Road, Suite 203

Burlington, Massachusetts 01803

(Address of Principal Executive Offices) (Zip Code)

scPharmaceuticals Inc. 2017 Stock Option and Incentive Plan

scPharmaceuticals Inc. 2017 Employee Stock Purchase Plan

(Full title of the plan)

John H. Tucker

President and Chief Executive Officer

scPharmaceuticals Inc.

25 Mall Road, Suite 203

Burlington, Massachusetts 01803

(Name and address of agent for service)

(617) 517-0730

(Telephone number, including area code, of agent for service)

 

 

Copies to:

Peter N. Handrinos, Esq.

Wesley Holmes, Esq.

Latham & Watkins LLP

200 Clarendon Street

Boston, MA 02116

(617) 948-6060

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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 new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

 

 

 


EXPLANATORY NOTE

This Registration Statement on Form S-8 is being filed for the purpose of registering an additional 205,000 shares of the common stock of scPharmaceuticals Inc. (the “Registrant”) to be issued pursuant to the scPharmaceuticals Inc. 2017 Employee Stock Purchase Plan (the “ESPP”) and an additional 1,438,740 shares of the Registrant’s common stock to be issued pursuant to the scPharmaceuticals Inc. 2017 Stock Option and Incentive Plan (the “Incentive Plan,” and together with the ESPP, the “Plans”). A Registration Statement of the Registrant on Form S-8 relating to the Plans is effective.

INCORPORATION BY REFERENCE OF CONTENTS OF

REGISTRATION STATEMENTS ON FORM S-8

Except as set forth below, the contents of the Registration Statements on Form S-8 (File Nos. 333-221677, 333-227071, 333-229122, 333-237361, 333-254636, 333-263762 and 333-270757), including any amendments thereto, filed with the Securities and Exchange Commission, relating to the Plans, are incorporated by reference herein.

 

Item 8.    Exhibits.

 

Number   

Description

  4.1    Second Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No. 001-38293) filed on November 21, 2017)
  4.2    Amended and Restated By-laws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K (File No. 001-38293) filed on November 21, 2017)
  4.3    Amendment No.  1 to the Registrant’s Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No.  001-38293) filed on June 10, 2020)
  4.4    Amendment No.  2 to the Registrant’s Amended and Restated Bylaws (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No.  001-38293) filed on March 12, 2021)
  4.5    Amended and Restated Investors’ Rights Agreement among the Registrant and certain of its stockholders, dated December  22, 2016 (incorporated by reference to Exhibit 4.1 to the Registrant’s Registration Statement on Form S-1 (File No. 333-221077)  filed on October 23, 2017)
  5.1+    Opinion of Latham & Watkins LLP, counsel to the Registrant
 23.1+    Consent of RSM US LLP, Independent Registered Public Accounting Firm
 23.2+    Consent of Latham & Watkins LLP (included in Exhibit 5.1)
 24.1+    Power of Attorney (included on signature pages below)
 99.1    scPharmaceuticals Inc. 2017 Stock Option and Incentive Plan and forms of award agreements thereunder (incorporated by reference to Exhibit 10.2 to the Registrant’s Registration Statement on Form S-1/A (File No. 333-221077) filed on November 7, 2017)
 99.2    scPharmaceuticals Inc. 2017 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.4 to the Registrant’s Registration Statement on Form S-1/A (File No. 333-221077) filed on November 7, 2017)
107+    Filing Fee Table

 

+

Filed herewith


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Burlington, Commonwealth of Massachusetts, on this 13th day of March, 2024.

 

SCPHARMACEUTICALS INC.
By:  

/s/ John H. Tucker

  John H. Tucker
  President and Chief Executive Officer

POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints John H. Tucker and Rachael Nokes, or either of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to file and sign any and all amendments, including post-effective amendments, to this registration statement, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitute or substitutes may lawfully do or cause to be done by virtue hereof. This power of attorney shall be governed by and construed with the laws of the State of Delaware and applicable federal securities laws.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

 

SIGNATURE    TITLE    DATE

/s/ John H. Tucker

   President, Chief Executive Officer, Director    March 13, 2024
John H. Tucker    (principal executive officer)   

/s/ Rachael Nokes

   Chief Financial Officer    March 13, 2024
Rachael Nokes   

(principal accounting officer and principal

financial officer)

  

/s/ Jack A. Khattar

   Chairman of the Board    March 13, 2024
Jack A. Khattar      

/s/ William T. Abraham, M.D.

   Director    March 13, 2024
William T. Abraham, M.D.      

/s/ Mette Kirstine Agger

   Director    March 13, 2024
Mette Kirstine Agger      


/s/ Minnie V. Baylor-Henry

   Director    March 13, 2024
Minnie V. Baylor-Henry      

/s/ Sara Bonstein

   Director    March 13, 2024
Sara Bonstein      

/s/ Frederick Hudson

   Director    March 13, 2024
Frederick Hudson      

/s/ Leonard D. Schaeffer

   Director    March 13, 2024
Leonard D. Schaeffer      

/s/ Klaus Veitinger, M.D., Ph.D

   Director    March 13, 2024
Klaus Veitinger, M.D., Ph.D      
EX-5.1

Exhibit 5.1

 

  200 Clarendon Street
  Boston, Massachusetts 02116
  Tel: +1.617.948.6000 Fax: +1.617.948.6001
  www.lw.com
LOGO   FIRM / AFFILIATE OFFICES
  Austin    Milan
  Beijing    Munich
  Boston    New York
  Brussels    Orange County
  Century City    Paris
  Chicago    Riyadh
  Dubai    San Diego
  Düsseldorf    San Francisco
  Frankfurt    Seoul
  Hamburg    Silicon Valley
  Hong Kong    Singapore
  Houston    Tel Aviv
March 13, 2024   London    Tokyo
  Los Angeles    Washington, D.C.
  Madrid   

scPharmaceuticals Inc.

25 Mall Road, Suite 203

Burlington, Massachusetts 01803

 

  Re:

Registration Statement on Form S-8; 1,643,740 shares of scPharmaceuticals Inc. Common Stock, $0.0001 par value per share

To the addressee set forth above:

We have acted as special counsel to scPharmaceuticals Inc., a Delaware corporation (the “Company”), in connection with the preparation and filing by the Company with the Securities and Exchange Commission (the “Commission”) of a registration statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Act”), relating to the issuance by the Company of up to an aggregate of 1,643,740 shares of common stock of the Company, $0.0001 par value per share (the “Shares”), issuable under the scPharmaceuticals Inc. 2017 Stock Option and Incentive Plan (the “2017 Plan”) and the scPharmaceuticals Inc. 2017 Employee Stock Purchase Plan (together with the 2017 Plan, the “Plans”). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the prospectus forming a part thereof, other than as expressly stated herein with respect to the issuance of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein only as to the General Corporation Law of the State of Delaware (the “DGCL”), and we express no opinion with respect to any other laws.


March 13, 2024

Page 2

 

LOGO

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the recipients thereof, and have been issued by the Company for legal consideration in excess of par value in the circumstances contemplated by the Plans, assuming in each case that the individual grants or awards under the Plans are duly authorized by all necessary corporate action and duly granted or awarded and exercised in accordance with the requirements of law and the Plans (and the agreements and awards duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Latham & Watkins LLP

EX-23.1

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in this Registration Statement on Form S-8 of scPharmaceuticals Inc. of our report dated March 13, 2024, relating to the consolidated financial statements of scPharmaceuticals Inc. and its subsidiary, appearing in the Annual Report on Form 10-K of scPharmaceuticals Inc. for the year ended December 31, 2023.

/s/ RSM US LLP

Boston, Massachusetts

March 13, 2024

EX-FILING FEES

Exhibit 107

CALCULATION OF FILING FEE TABLE

FORM S-8

(Form Type)

SCPHARMACEUTICALS INC.

(Exact Name of Registrant as Specified in its Charter)

Table I: Newly Registered Securities

 

                 
Plan   Security
Type
  Security Class Title   Fee Calculation
Rule
  Amount
Registered(1)
  Proposed
Maximum
Offering
Price Per
Unit
 

Maximum

Aggregate

Offering Price

  Fee Rate   Amount of
Registration
Fee
                 
2017 Stock Option and Incentive Plan   Equity   Common Stock, par value $0.0001 per share  

Rule 457(c)

and 457(h)

  1,438,740(2)   $5.36(4)   $7,711,646.40   $ 147.60 per million dollars   $1,138.24
                 
2017 Employee Stock Purchase Plan   Equity   Common Stock, par value $0.0001 per share  

Rule 457(c)

and 457(h)

  205,000(3)   $4.56(5)   $934,800.00   $ 147.60 per million dollars   $137.98
           
    Total Offering Amounts     $8,646,446.40     $1,276.22
           
    Total Fee Offsets         $—
           
    Net Fee Due               $1,276.22

 

(1)

In accordance with Rule 416(a) under the Securities Act of 1933, as amended (“Securities Act”), this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued under the scPharmaceuticals Inc. 2017 Stock Option and Incentive Plan (the “Incentive Plan”) and the scPharmaceuticals Inc. 2017 Employee Stock Purchase Plan (the “ESPP”) to prevent dilution resulting from stock splits, stock dividends or similar transactions. In addition, pursuant to Rule 416(c) under the Securities Act, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the Incentive Plan and the ESPP.

(2)

Consists of 1,438,740 shares of Common Stock that may become issuable under the Incentive Plan pursuant to its terms.

(3)

Consists of 205,000 shares of Common Stock that may become issuable under the ESPP pursuant to its terms.

(4)

Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act of 1933, as amended, and based upon the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Select Market on March 11, 2024.

(5)

Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act of 1933, as amended, and based upon 85% of the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Select Market on March 11, 2024. Pursuant to the ESPP, the purchase price of the shares of Common Stock reserved for issuance thereunder will be 85% of the fair market value of a share of Common Stock on the first trading day of the offering period or on the exercise date, whichever is less.