As filed with the Securities and Exchange Commission on December 18, 2017
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
YIELD10 BIOSCIENCE, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware |
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2870 |
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04-3158289 |
(State or Other Jurisdiction of |
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(Primary Standard Industrial |
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(I.R.S. Employer |
19 Presidential Way
Woburn, Massachusetts 01801
(617) 583-1700
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrants Principal Executive Offices)
Dr. Oliver P. Peoples
President & Chief Executive Officer
Yield10 Bioscience, Inc.
19 Presidential Way
Woburn, Massachusetts 01801
(617) 583-1700
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)
Copies to:
Megan N. Gates, Esq. |
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Michael Nertney, Esq. |
Approximate date of commencement of proposed sale to the public:
As soon as practicable after the effective date of this registration statement.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the Securities Act), check the following box. o
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. x File No. 333-221283
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o
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 o |
Accelerated filer |
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Non-accelerated filer o (Do not check if a smaller reporting company) |
Smaller reporting company |
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Emerging growth company |
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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 7(a)(2)(B) of the Securities Act. o
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities to be Registered |
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Proposed Maximum |
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Amount of |
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Class A Units consisting of: |
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$ |
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(i) Shares of common stock, par value $0.01 per share |
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(ii) Series A Warrants to purchase common stock |
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(iii) Series B Warrants to purchase common stock |
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Class B Units consisting of: |
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$ |
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(i) Shares of Series A Preferred Stock, par value $0.01 |
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(ii) Shares of common stock issuable on conversion of Series A Preferred Stock (3) |
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(iii) Series A Warrants to purchase common stock |
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(iv) Series B Warrants to purchase common stock |
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Common Stock issuable upon exercise of Warrants |
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$ |
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Total |
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$ |
6,037,500.00 |
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$ |
751.67 |
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(1) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the Securities Act).
(2) Includes the price of additional shares of common stock and warrants to purchase shares of common stock that the underwriters have the option to purchase to cover over-allotments, if any.
(3) No separate fee is required pursuant to Rule 457(i) under the Securities Act.
This Registration Statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(b) promulgated under the Securities Act of 1933, as amended.
EXPLANATORY NOTE AND INCORPORATION OF
CERTAIN INFORMATION BY REFERENCE
This Registration Statement is being filed with the Securities and Exchange Commission (the Commission) pursuant to Rule 462(b) under the Securities Act of 1933, as amended. This Registration Statement incorporates by reference the contents of, including all amendments and exhibits thereto and all information incorporated by reference therein, the Registration Statement on Form S-1 (Registration No. 333-221283), which was declared effective by the Commission on December 18, 2017, and is being filed solely for the purpose of registering an increase in the maximum aggregate offering price of $6,037,500. The required opinions and consents are listed on the Exhibit Index attached hereto.
EXHIBIT INDEX
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Woburn, Massachusetts, on December 18, 2017.
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YIELD 10 BIOSCIENCE, INC. | |
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By: |
/s/ Oliver P. Peoples |
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Oliver P. Peoples President and Chief Executive Officer |
Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
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Title |
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Date | ||
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/s/ Oliver P. Peoples |
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Director, President and Chief Executive Officer |
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December 18, 2017 | ||
Oliver P. Peoples |
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(Principal Executive Officer) |
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/s/ Charles B. Haaser |
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Chief Accounting Officer |
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December 18, 2017 | ||
Charles B. Haaser |
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(Principal Financial Officer and Principal Accounting Officer) |
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By: |
* |
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Director |
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December 18, 2017 | |
Joseph Shaulson |
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By: |
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Director |
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December 18, 2017 | |
Peter N. Kellogg |
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By: |
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Director |
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December 18, 2017 | |
Richard Hamilton |
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By: |
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Director |
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December 18, 2017 | |
Anthony J. Sinskey |
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By: |
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Director |
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December 18, 2017 | |
Robert L. Van Nostrand |
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* By: |
/s/ Oliver P. Peoples |
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Oliver P. Peoples |
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Attorney-in-Fact |
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One Financial Center Boston, MA 02111 617-542-6000 617-542-2241 fax www.mintz.com |
December 18, 2017
Yield10 Bioscience, Inc.
19 Presidential Way
Woburn, Massachusetts 01801
Ladies and Gentlemen:
We have acted as counsel to Yield10 Bioscience, Inc., a Delaware corporation (the Company), in connection with the Companys (i) Registration Statement on Form S-1 (Registration Statement No. 333-221283) initially filed with the Securities and Exchange Commission (the Commission) under the Securities Act of 1933, as amended (the Act), on November 2, 2017, and as subsequently amended (the Initial Registration Statement) and (ii) additional Registration Statement on Form S-1 filed pursuant to Rule 462(b) under the Act (the 462(b) Registration Statement, and collectively with the Initial Registration Statement, the Registration Statement). The 462(b) Registration Statement relates to the registration of up to an additional $6,037,500.00 of Securities (as defined below), which consist of (i) Class A Units (the Additional Class A Units), with each Additional Class A Unit consisting of one share of the Companys common stock, par value $0.01 per share (Common Stock), a Series A common warrant to purchase one share of Common Stock (a Series A Warrant) and a Series B common warrant to purchase one-half of one share of Common Stock (a Series B Warrant) (ii) Class B Units (the Additional Class B Units, and collectively with the Additional Class A Units, the Additional Units), with each Additional Class B Unit consisting of one share of the Companys Series A convertible preferred stock, par value $0.01 per share (Series A Preferred Stock), a Series A Warrant and a Series B Warrant, (iii) shares of Common Stock issuable upon conversion of the shares of Series A Preferred Stock and (iv) shares of Common Stock issuable upon exercise of the Series A Warrants and Series B Warrants (the Warrant Shares) issued under each of the Additional Class A Units and the Additional Class B Units (each a Warrant and collectively, the Warrants) ((i) through (iv) collectively, the Securities). The Additional Units are to be sold by the Company pursuant to an underwriting agreement (the Underwriting Agreement) to be entered into by and between the Company and Ladenburg Thalmann & Co., Inc. on behalf of themselves and as representative to the several underwriters to be named therein. The Securities are to be offered and sold in the manner described in the Initial Registration Statement and the related prospectus included therein (the Prospectus).
In connection with this opinion, we have examined originals or copies, certified or otherwise identified to our satisfaction, of: (i) the Amended and Restated Certificate of Incorporation of the Company, as amended through the date hereof; (ii) the Amended and Restated Bylaws of the Company, as amended through the date hereof; (iii) the Certificate of Designation of Series A Convertible Preferred Stock to be filed with the Secretary of State of the State of Delaware, (iv) certain resolutions of the Board of Directors of the Company (the Board) relating to the issuance, sale and registration of the Securities; (v) the Initial Registration Statement; (vi) the Rule 462(b) Registration Statement, (vii) the Prospectus and (viii) the Underwriting Agreement. In addition, we have examined originals or copies, certified or otherwise identified to our satisfaction, of certain other corporate
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
BOSTON | WASHINGTON | NEW YORK | STAMFORD | LOS ANGELES | SAN FRANCISCO | SAN DIEGO | LONDON
records, documents, instruments and certificates of public officials and of the Company, and we have made such inquiries of officers of the Company and public officials and considered such questions of law as we have deemed necessary for purposes of rendering the opinions set forth herein. Our opinions are limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not sought to independently verify such matters.
In rendering our opinion set forth below, we have assumed that (i) each document submitted to us is accurate and complete; (ii) each such document that is an original is authentic; (iii) each such document that is a copy conforms to an authentic original; and (iv) all signatures (other than signatures on behalf of the Company) on each such document are genuine. We have further assumed the legal capacity of natural persons, and we have assumed that each party to the documents we have examined or relied on (other than the Company) has the legal capacity or authority and has satisfied all legal requirements that are applicable to that party to the extent necessary to make such documents enforceable against that party. We have further assumed that the Company will not in the future issue or otherwise make unavailable so many shares of Common Stock that there are insufficient remaining authorized but unissued shares of Common Stock for issuance pursuant to exercise of the Warrants. We have also assumed that all of the shares of Common Stock issuable or eligible for issuance pursuant to exercise of the Warrants following the date hereof will be issued for not less than par value. We have not verified any of those assumptions.
Based upon, subject to and limited by the foregoing, we are of the opinion that (i) the shares of Common Stock included in the Additional Class A Units, when issued against payment therefor as set forth in the Registration Statement, will be validly issued, fully paid and non-assessable; (ii) the shares of Series A Preferred Stock included in the Additional Class B Units, when issued against payment therefor as set forth in the Registration Statement, will be validly issued, fully paid and non-assessable; (iii) the shares of Common Stock, when issued upon conversion of the shares of Series A Preferred Stock, will be validly issued, fully paid and non-assessable (iv) the Warrants, when issued as set forth in the Registration Statement will be legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms; (v) the Warrant Shares, when issued upon exercise of the Warrants against payment therefor as set forth in the Registration Statement, will be validly issued, fully paid and non-assessable; (vi) the Additional Class A Units, when duly delivered by the Company against the payment of consideration therefor and as contemplated in the Registration Statement, will constitute valid and legally binding obligations of the Company; and (vii) the Additional Class B Units, when duly delivered by the Company against the payment of consideration therefor and as contemplated in the Registration Statement, will constitute valid and legally binding obligations of the Company.
We express no opinion as to matters governed by any laws other than the Delaware General Corporation Law and the federal laws of the United States of America, as in effect on the date hereof.
We hereby consent to the filing of this opinion as an exhibit to the Rule 462(b) Registration Statement and to the reference to our firm under the caption Legal Matters in the Prospectus. In giving such permission, we do not admit hereby that we come within the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations of the Commission thereunder. This opinion is expressed as of the date hereof, and we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable law.
Very truly yours,
/s/ Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C. |
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Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C. |
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CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in this Registration Statement on Form S-1 of Yield10 Bioscience, Inc. filed pursuant to Rule 462(b) of the Securities Act of 1933, of our report dated March 30, 2017, relating to the consolidated financial statements of Yield10 Bioscience, Inc. and subsidiaries, appearing in the annual report on Form 10-K of Yield10 Bioscience, Inc. for the year ended December 31, 2016, incorporated by reference in the Registration Statement (Form S-1 No. 333-221283) declared effective on December 18, 2017.
We also consent to the reference to our firm under the heading Experts in such Registration Statement.
/s/ RSM US LLP |
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Boston, Massachusetts |
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December 18, 2017 |
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CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form S-1 filed pursuant to Rule 462(b) of the Securities Act of 1933 of our report dated March 29, 2016, except for the effects of discontinued operations discussed in Note 15 to the consolidated financial statements as to which the date is March 30, 2017, relating to the financial statements, which appears in Yield10 Bioscience, Inc.s (formerly known as Metabolix, Inc.) Annual Report on Form 10-K for the year ended December 31, 2016. We also consent to the reference to us under the heading Experts in such Registration Statement.
/s/PricewaterhouseCoopers LLP |
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Boston, Massachusetts |
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December 18, 2017 |
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