As filed with the Securities and Exchange Commission on December 11, 2020

Registration No. 333-          

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER THE

SECURITIES ACT OF 1933

 

 

 

AUGMEDIX, INC.

(Exact name of Registrant as specified in its charter)

 

Delaware   98-0542593
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification Number)

 

1161 Mission Street

Suite LL

San Francisco, California 94103

(888) 669-4885

(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)

 

2013 Equity Incentive Plan

2020 Equity Incentive Plan

(Full title of the plans)

 

Paul Ginocchio

Chief Financial Officer

1161 Mission Street

Suite LL

San Francisco, California 94103

(888) 669-4885

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

Please send copies of all communications to:

Robert A. Freedman, Esq.

Nicolas H.R. Dumont, Esq.

Fenwick & West LLP

555 California Street

San Francisco, California 94104

(415) 875-2300

 

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 definition 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 7(a)(2)(B) of the Securities Act. ☐

 

 

 

 

CALCULATION OF REGISTRATION FEE

 

Title of Each Class of Securities to be Registered   Amount to be Registered(1)     Proposed Maximum Offering Price Per Share     Proposed Maximum Aggregate Offering Price     Amount of Registration Fee  
Common Stock, $0.0001 par value per share:                        
— To be issued under the 2020 Equity Incentive Plan     441,411 (2)   $ 3.00 (3)   $ 1,324,233     $ 145  
— Outstanding under the 2013 Equity Incentive Plan (Options)     4,308,687 (4)   $ 0.76 (5)   $ 3,274,603     $ 358  
— Outstanding under the 2013 Equity Incentive Plan (Stock Appreciation Rights)     252,983 (6)   $ 0.77 (7)   $ 194,797     $ 22  
Total     5,003,081             $ 4,793,633     $ 525  

 

 

(1)Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement shall also cover any additional shares of the Registrant’s common stock that becomes issuable in respect of the securities identified in the above table by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration that increases the number of the Registrant’s outstanding shares of common stock.
(2)Shares of common stock reserved for issuance under the Augmedix, Inc. 2020 Equity Incentive Plan (“2020 Plan”) consists of (a) 0 shares of common stock reserved for issuance under the 2020 Plan and (b) 441,411 shares of common stock previously reserved but unissued under the Augmedix, Inc. 2013 Equity Incentive Plan (“2013 Plan”), that are now available for issuance under the 2020 Plan. To the extent outstanding awards under the 2013 Plan are forfeited, lapse unexercised, or would otherwise have been returned to the share reserve under the 2013 Plan, the shares of common stock subject to such awards instead will be available for future issuance as common stock under the 2020 Plan.
(3)Estimated in accordance with Rule 457(a) and (h) solely for purposes of calculating the registration fee on the basis of $3.00, which is the price most recently estimated for purposes of calculating the amount of the registration fee pursuant to Rule 457(a) for purposes of the Registrant’s registration statement on Form S-1 (File No. 333-251310). The Registrant believes, as there currently is no market for the securities to be offered, that the estimated value determined pursuant to Rule 457(a) is a more reasonable estimate of the offering price of the shares than the book value that would be determined pursuant to Rule 457(h).
(4)Represents shares of common stock reserved for issuance pursuant to outstanding stock option awards under the 2013 Plan.
(5)Calculated solely for the purposes of this offering under Rule 457(h) of the Securities Act on the basis of the weighted average exercise price for stock options outstanding under the 2013 Plan.
(6)Represents shares of common stock reserved for issuance pursuant to outstanding stock appreciation rights under the 2013 Plan.
(7)Calculated solely for the purposes of this offering under Rule 457(h) of the Securities Act on the basis of the weighted average exercise price for stock appreciation rights outstanding under the 2013 Plan.

 

 

 

 

 

 

PART I

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

 

The information called for by Part I of Form S-8 is omitted from this Registration Statement in accordance with Rule 428 of the Securities Act of 1933, as amended (the “Securities Act”) and the instructions to Form S-8. In accordance with the rules and regulations of the Securities and Exchange Commission (the “Commission”) and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

 

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PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3. Incorporation of Documents by Reference.

 

The following documents filed by the Registrant with the Commission pursuant to the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”) are incorporated herein by reference:

 

  (a) the Registrant’s prospectus to be filed pursuant to Rule 424(b) under the Securities Act relating to the Registration Statement on Form S-1, as amended (File No. 333-251310), which contains audited consolidated financial statements for the Registrant’s latest fiscal year for which such statements have been filed; and;
     
  (b) the Registrant’s Current Reports on Form 8-K filed with the Commission on October 9, 2020; and November 17, 2020; and
     
  (c) the Registrant’s Current Reports on Form 8-K/A filed with the Commission on November 16, 2020.

 

All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing such documents, except as to specific sections of such documents as set forth therein. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement.

 

Item 4. Description of Securities.

 

Not applicable.

 

Item 5. Interests of Named Experts and Counsel.

 

As of the date of this Registration Statement, attorneys of Fenwick & West LLP beneficially own an aggregate of approximately 4,294 shares of the Registrant’s common stock.

 

Item 6. Indemnification of Directors and Officers.

 

The Registrant is incorporated under the laws of the State of Delaware. Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation’s board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the Delaware General Corporation Law are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Securities Act.

 

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As permitted by the Delaware General Corporation Law, the Registrant’s restated certificate of incorporation includes a provision that eliminates, to the fullest extent permitted by law, the personal liability of a director for monetary damages resulting from breach of his or her fiduciary duty as a director, except for liability:

 

for any breach of the director’s duty of loyalty to the Registrant or its stockholders;
   
for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;
   
under Section 174 of the Delaware General Corporation Law (regarding unlawful dividends, stock purchases or redemptions); or
   
for any transaction from which the director derived an improper personal benefit.
   
As permitted by the Delaware General Corporation Law, the Registrant’s restated bylaws provide that:
   
the Registrant is required to indemnify its directors and officers to the fullest extent permitted by the Delaware General Corporation Law, subject to certain very limited exceptions;
   
the Registrant may indemnify its other employees and agents as set forth in the Delaware General Corporation Law;
   
the Registrant is required to advance expenses, as incurred, to its directors and officers in connection with a legal proceeding to the fullest extent permitted by the Delaware General Corporation Law, subject to certain very limited exceptions; and
   
the rights conferred in the Registrant’s restated bylaws are not exclusive.

 

In addition, the Registrant intends to enter into indemnification agreements with each of its current directors and executive officers. These agreements will provide for the indemnification of directors and executive officers for all reasonable expenses and liabilities incurred in connection with any action or proceeding brought against them by reason of the fact that they are or were agents of the Registrant.

 

The Registrant currently carries liability insurance for its directors and executive officers for securities matters.

 

The indemnification provisions in the Registrant’s restated certificate of incorporation and restated bylaws and the indemnification agreements to be entered into between the Registrant and each of its directors and executive officers is sufficiently broad to permit indemnification of the Registrant’s directors and executive officers for liabilities arising under the Securities Act.

 

See also the undertakings set out in response to Item 9 hereof.

 

Item 7. Exemption From Registration Claimed.

 

Not applicable.

 

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Item 8. Exhibits.

 

The following exhibits are filed herewith:

 

Exhibit       Incorporated by Reference   Filed
Number   Exhibit Description   Form   File No.   Exhibit   Filing Date   Herewith
                         
4.1   Restated certificate of incorporation of the Registrant   8-K   000-56036   3.2   October 9, 2020    
                         
4.5   Restated bylaws of the Registrant   8-K   000-56036   3.3   October 9, 2020    
                         
5.1   Opinion of Fenwick & West LLP                   X
                         
23.1   Consent of Frank, Rimerman & Co. LLP, Independent Registered Public Accounting Firm                   X
                         
23.2   Consent of Fenwick & West LLP (contained in Exhibit 5.1)                   X
                         
24.1   Power of Attorney (included on the signature page to this Registration Statement)                   X
                         
99.1   2013 Equity Incentive Plan and form of award agreements   8-K   000-56036   10.1   October 9, 2020    
                         
99.2   2020 Equity Incentive Plan and form of award agreements   8-K   000-56036   10.2   October 9, 2020    

 

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Item 9. Undertakings.

 

A.The undersigned Registrant hereby undertakes:

 

(1)       To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

 

(i)       To include any prospectus required by Section 10(a)(3) of the Securities Act;

 

(ii)       To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement.

 

Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement;

 

(iii)       To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

 

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

 

(2)       That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(3)       To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

 

B.The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

C.Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered hereby, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Act, 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 San Francisco, California, on this 11th day of December, 2020.

 

  AUDMEDIX, INC.
     
  By:  /s/ Emmanuel Krakaris
    Emmanuel Krakaris
    President, Chief Executive Officer and Secretary

 

POWER OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Emmanuel Krakaris and Paul Ginocchio, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent 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 for all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute, may lawfully do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities indicated on the date indicated:

 

Signature

 

Title

  Date
         
/s/ Emmanuel Krakaris   President, Chief Executive Officer,   December 11, 2020

Emmanuel Krakaris

 

  Secretary and Director (principal executive officer)    
/s/ Paul Ginocchio    Chief Financial Officer   December 11, 2020
Paul Ginocchio   (principal financial and accounting officer)    
         
/s/ Jennifer Carter    Director   December 11, 2020
Jennifer Carter        
         
/s/ Jason Krikorian   Director   December 11, 2020
Jason Krikorian        
         
/s/ Joseph Marks   Director   December 11, 2020
Joseph Marks        
         
/s/ Ian Shakil   Director   December 11, 2020
Ian Shakil        
         
/s/ Gerard van Hamel Platerink   Director and Chairman of the Board of Directors   December 11, 2020
Gerard van Hamel Platerink        

 

 

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