0001209191-23-059034.txt : 20231218
0001209191-23-059034.hdr.sgml : 20231218
20231218184648
ACCESSION NUMBER: 0001209191-23-059034
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231214
FILED AS OF DATE: 20231218
DATE AS OF CHANGE: 20231218
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BAKER BROS. ADVISORS LP
CENTRAL INDEX KEY: 0001263508
ORGANIZATION NAME:
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495147
BUSINESS ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
BUSINESS PHONE: 2123395600
MAIL ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
FORMER NAME:
FORMER CONFORMED NAME: BAKER BROS ADVISORS LLC
DATE OF NAME CHANGE: 20030911
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BAKER JULIAN
CENTRAL INDEX KEY: 0001087939
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495151
MAIL ADDRESS:
STREET 1: BAKER BROS. ADVISORS LP
STREET 2: 860 WASHINGTON STREET 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: BAKER FELIX
CENTRAL INDEX KEY: 0001087940
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495150
MAIL ADDRESS:
STREET 1: BAKER BROS. ADVISORS LP
STREET 2: 860 WASHINGTON STREET 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Baker Bros. Advisors (GP) LLC
CENTRAL INDEX KEY: 0001580575
ORGANIZATION NAME:
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495149
BUSINESS ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
BUSINESS PHONE: (212)339-5600
MAIL ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Baker Brothers Life Sciences LP
CENTRAL INDEX KEY: 0001363364
ORGANIZATION NAME:
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495148
BUSINESS ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
BUSINESS PHONE: 212-339-5600
MAIL ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: 667, L.P.
CENTRAL INDEX KEY: 0001551139
ORGANIZATION NAME:
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32405
FILM NUMBER: 231495146
BUSINESS ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
BUSINESS PHONE: 212-339-5600
MAIL ADDRESS:
STREET 1: 860 WASHINGTON STREET
STREET 2: 3RD FLOOR
CITY: NEW YORK
STATE: NY
ZIP: 10014
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Seagen Inc.
CENTRAL INDEX KEY: 0001060736
STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
ORGANIZATION NAME: 03 Life Sciences
IRS NUMBER: 911874389
STATE OF INCORPORATION: WA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 21823 30TH DRIVE SE
STREET 2: SUITE
CITY: BOTHELL
STATE: WA
ZIP: 98021
BUSINESS PHONE: 4255274000
MAIL ADDRESS:
STREET 1: 21823 30TH DRIVE SE
STREET 2: SUITE
CITY: BOTHELL
STATE: WA
ZIP: 98021
FORMER COMPANY:
FORMER CONFORMED NAME: SEATTLE GENETICS INC /WA
DATE OF NAME CHANGE: 20001116
4
1
doc4.xml
FORM 4 SUBMISSION
X0508
4
2023-12-14
1
0001060736
Seagen Inc.
SGEN
0001263508
BAKER BROS. ADVISORS LP
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0001551139
667, L.P.
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0001087939
BAKER JULIAN
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0001087940
BAKER FELIX
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0001580575
Baker Bros. Advisors (GP) LLC
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0001363364
Baker Brothers Life Sciences LP
860 WASHINGTON STREET, 3RD FLOOR
NEW YORK
NY
10014
1
0
0
1
Former 10% Owner
0
Common Stock
2023-12-14
4
D
0
23280
229.00
D
0
D
Common Stock
2023-12-14
4
D
0
23277
229.00
D
0
D
Common Stock
2023-12-14
4
D
0
1731202
229.00
D
0
I
See Footnotes
Common Stock
2023-12-14
4
D
0
42977301
229.00
D
0
I
See Footnotes
Stock Options (right to buy)
34.25
2023-12-14
4
D
0
8750
D
2024-05-16
Common Stock
8750
0
I
See Footnotes
Stock Options (right to buy)
39.94
2023-12-14
4
D
0
9260
D
2025-05-15
Common Stock
9260
0
I
See Footnotes
Stock Options (right to buy)
38.82
2023-12-14
4
D
0
9260
D
2026-05-20
Common Stock
9260
0
I
See Footnotes
Stock Options (right to buy)
66.60
2023-12-14
4
D
0
9260
D
2027-05-19
Common Stock
9260
0
I
See Footnotes
Stock Options (right to buy)
56.77
2023-12-14
4
D
0
9260
D
2028-05-18
Common Stock
9260
0
I
See Footnotes
Stock Options (right to buy)
64.38
2023-12-14
4
D
0
7038
D
2029-05-20
Common Stock
7038
0
I
See Footnotes
Stock Options (right to buy)
160.33
2023-12-14
4
D
0
3371
D
2030-05-15
Common Stock
3371
0
I
See Footnotes
Stock Options (right to buy)
147.50
2023-12-14
4
D
0
3462
D
2031-05-14
Common Stock
3462
0
I
See Footnotes
Stock Options (right to buy)
135.63
2023-12-14
4
D
0
3676
D
2032-05-13
Common Stock
3676
0
I
See Footnotes
Reflects the disposition of shares of common stock ("Common Stock"), of Seagen Inc. (the "Issuer"), or of options to purchase Common Stock ("Stock Options"), as applicable, in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of March 12, 2023 (the "Merger Agreement"), by and among the Issuer, Pfizer Inc. ("Parent") and Aris Merger Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of Parent, pursuant to which, at the effective time of the Merger on December 14, 2023 (the "Effective Time"), Merger Sub merged with and into the Issuer, with the Issuer surviving as a subsidiary of Parent (the "Merger").
Pursuant to the Merger Agreement, at the Effective Time, each issued and outstanding share of Common Stock (other than certain excluded shares described in the Merger Agreement) was converted into the right to receive cash in an amount equal to $229.00 per share of Common Stock (the "Merger Consideration").
Reflects shares of Common Stock held directly by Felix J. Baker.
Reflects shares of Common Stock held directly by Julian C. Baker.
Pursuant to the Merger Agreement, at the Effective Time, 29,003 vested restricted stock units (each, an "RSU"), held by Felix J. Baker were converted into the right to receive an amount in cash equal to the product of (i) the Merger Consideration, multiplied by (ii) the number of shares of Common Stock then subject to such RSU, net of applicable taxes and without interest.
Pursuant to the Merger Agreement, at the Effective Time, each of the 2,044 RSUs granted to Felix J. Baker on May 31, 2023 that were unvested as of immediately prior to the Effective Time (each, a "Post-Signing Company RSU") were converted into the right to receive a Parent cash-based award subject to service-based vesting requirements with respect to an amount in cash equal to the product of (i) the Merger Consideration, multiplied by (ii) the number of shares of Common Stock then subject to such Post-Signing Company RSU.
As a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, L.P. ("667"), Julian C. Baker and Felix J. Baker each may have been deemed to have had an indirect pecuniary interest in Common Stock directly held by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.
Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to 667 and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds"). In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held by the Funds. The general partners of
the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held by the Funds.
Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities that were held directly by the Funds except
to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the
Adviser GP or the Adviser was a beneficial owner of such securities for purposes of Section 16 or any other purpose.
Pursuant to agreements between Felix J. Baker and the Adviser, the Adviser had voting and dispositive power over Stock Options, RSUs and any Common Stock received as a result of the exercise of Stock Options or vesting of RSUs.
Pursuant to the policies of the Adviser, Felix J. Baker does not have a right to any of the Issuer's securities issued in lieu of director retainer fees
and the Funds are entitled to an indirect proportionate pecuniary interest in such securities. The Funds each owned an indirect proportionate
pecuniary interest in the shares of Common Stock. Solely as a result of their ownership interest in (i) the general partners of the Funds and (ii)
the Funds, Felix J. Baker and Julian C. Baker may have been deemed to have had an indirect pecuniary interest in the shares of Common Stock issued in
lieu of director retainer fees, Stock Options, Common Stock issued upon exercise of Stock Options, RSUs and Common Stock received upon vesting of RSUs (ie. no direct pecuniary interest).
Includes beneficial ownership of 31,047 previously issued RSUs payable solely in Common Stock issued to Felix Baker in his capacity as a director of the Issuer pursuant to the Amended and Restated 2007 Equity Incentive Plan of which the Funds may be deemed to own a portion and 121,250 previously issued shares of Common Stock from exercise of 121,250 Stock Options of the Issuer that were issued to Felix J. Baker in his capacity as a director of the Issuer, of which the Funds may be deemed to own a portion. The policy of the Funds and the Adviser does not permit full-time employees of the Adviser or managing members of the Adviser GP to receive compensation for serving as a director of the Issuer.
As a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J. Baker each may have been deemed to have had an indirect pecuniary interest in Common Stock directly held by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.
Pursuant to the Merger Agreement, each outstanding Stock Option, whether or not then vested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per-share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such Stock Option.
Felix J. Baker was a director of Seagen Inc. (the "Issuer"). By virtue of their representation on the Board of Directors of the Issuer, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting persons other than Felix J. Baker were deemed directors by deputization of the Issuer.
By: Baker Bros. Advisors LP, Name: Scott L.
Lessing, Title: President /s/ Scott L. Lessing
2023-12-18
Baker Bros. Advisors LP, Mgmt. Co. and Inv. Adviser to 667, L.P., pursuant to authority granted by Baker Biotech Capital, L.P., GP to 667, L.P. Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing
2023-12-18
/s/ Julian C. Baker
2023-12-18
/s/ Felix J. Baker
2023-12-18
By: Baker Bros. Advisors (GP) LLC, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing
2023-12-18
Baker Bros. Advisors LP, Mgmt. Co. and Inv. Adviser to Baker Brothers Life Sciences, L.P., pursuant to authority granted by Baker Brothers Life Sciences Capital, L.P., GP to Baker Brothers Life Sciences, L.P., Name: Scott L. Lessing, Title: President /s/
2023-12-18