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): April 30, 2021
Synaptogenix, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 333-249434 | 46-1585656 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1185
Avenue of the Americas, 3rd Floor
New York, New York 10036
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (973) 242-0005
(Former Name or Former Address, if Changed Since Last Report)
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 (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company. x
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. x
| Item 9.01 | Financial Statements and Exhibits. |
(b) The unaudited pro forma consolidated balance sheet of Synaptogenix, Inc. (the “Company”) as of December 31, 2020, is filed hereto as Exhibit 99.1 and is incorporated herein by reference. Such unaudited pro forma consolidated balance sheet of the Company gives effect to the sale by the Company in January 2021 of (a) an aggregate of 9,335,533 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) and/or prefunded warrants to purchase shares of Common Stock at an exercise price of $0.01 per share, (b) Series E warrants to purchase 9,335,533 shares of Common Stock, with an exercise price of $2.1275 per share (subject to adjustment), for a period of twelve months from the date of an effective registration statement (the “Series E Warrants”) and (c) Series F warrants to purchase up to an aggregate of 9,335,533 shares of Common stock, with an exercise price of $1.725 per share (subject to adjustment), for a period of five years from the date of issuance (the “Series F Warrants” and together with the Series E Warrants, the “Warrants”) at a combined purchase price of $1.50 per share of Common Stock and Warrants, for aggregate gross proceeds of $14.0 million.
(d) Exhibits.
The following exhibits are filed as part of this report:
| Exhibit Number | Description | |
| 99.1 | The unaudited pro forma consolidated balance sheet of the Company as of December 31, 2020 |
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.
| SYNAPTOGENIX, INC. | ||
| Date: April 30, 2021 | By: | /s/ Robert Weinstein |
| Name: | Robert Weinstein | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
SYNAPTOGENIX, INC.
BALANCE SHEETS
(Unaudited)
| As Filed | Offering | Pro forma as of | ||||||||||
| December 31, | Entries | December 31, | ||||||||||
| 2020 | January 2021 | 2020 | ||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS | ||||||||||||
| Cash and cash equivalents | $ | 5,795,055 | $ | 12,589,667 | $ | 18,384,722 | ||||||
| Grant receivable | 127,445 | - | 127,445 | |||||||||
| Prepaid expenses and other current assets | 806,289 | - | 806,289 | |||||||||
| TOTAL CURRENT ASSETS | 6,728,789 | 12,589,667 | 19,318,456 | |||||||||
| Fixed assets, net of accumulated depreciation | 22,212 | - | 22,212 | |||||||||
| TOTAL ASSETS | $ | 6,751,001 | $ | 12,589,667 | $ | 19,340,668 | ||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||
| CURRENT LIABILITIES | ||||||||||||
| Accounts payable | $ | 1,260,335 | $ | - | $ | 1,260,335 | ||||||
| Accrued expenses | 352,154 | - | 352,154 | |||||||||
| TOTAL CURRENT LIABILITIES | 1,612,489 | - | 1,612,489 | |||||||||
| Commitments and contingencies | ||||||||||||
| SHAREHOLDERS' EQUITY | ||||||||||||
| Preferred stock - 1,000,000 shares authorized as of December 31, 2020, $0.0001 par value; | ||||||||||||
| 0 shares issued and outstanding as of December 31, 2020 | ||||||||||||
| Common stock - 150,000,000 shares authorized as of December 31, 2020, $0.0001 par value; | - | - | - | |||||||||
| 5,030,316 shares issued and outstanding as of December 31, 2020 | ||||||||||||
| 14,032,516 pro forma shares issued and outstanding as of December 31, 2020. | 503 | 900 | 1,403 | |||||||||
| Additional paid-in capital | 6,668,482 | 12,588,767 | 19,257,249 | |||||||||
| Accumulated deficit | (1,530,473 | ) | - | (1,530,473 | ) | |||||||
| TOTAL SHAREHOLDERS' EQUITY | 5,138,512 | 12,589,667 | 17,728,179 | |||||||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 6,751,001 | $ | 12,589,667 | $ | 19,340,668 | ||||||