0001193125-20-122131.txt : 20200428 0001193125-20-122131.hdr.sgml : 20200428 20200428090102 ACCESSION NUMBER: 0001193125-20-122131 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200428 DATE AS OF CHANGE: 20200428 GROUP MEMBERS: JOSEPH EDELMAN GROUP MEMBERS: PERCEPTIVE CREDIT HOLDINGS, LP GROUP MEMBERS: PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VBI Vaccines Inc/BC CENTRAL INDEX KEY: 0000764195 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89195 FILM NUMBER: 20822532 BUSINESS ADDRESS: STREET 1: 222 THIRD STREET STREET 2: SUITE 2241 CITY: CAMBRIDGE STATE: MA ZIP: 02142 BUSINESS PHONE: 617-830-3031 MAIL ADDRESS: STREET 1: 222 THIRD STREET STREET 2: SUITE 2241 CITY: CAMBRIDGE STATE: MA ZIP: 02142 FORMER COMPANY: FORMER CONFORMED NAME: SciVac Therapeutics Inc. DATE OF NAME CHANGE: 20150717 FORMER COMPANY: FORMER CONFORMED NAME: LEVON RESOURCES LTD. DATE OF NAME CHANGE: 20100910 FORMER COMPANY: FORMER CONFORMED NAME: LEVON RESOURCES LTD DATE OF NAME CHANGE: 19850305 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PERCEPTIVE ADVISORS LLC CENTRAL INDEX KEY: 0001224962 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 51 ASTOR PLACE, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10003 BUSINESS PHONE: 646-205-5300 MAIL ADDRESS: STREET 1: 51 ASTOR PLACE, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10003 SC 13D/A 1 d900394dsc13da.htm AMENDMENT NO. 6 TO SCHEDULE 13D Amendment No. 6 to Schedule 13D

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D/A

THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)*

 

 

VBI Vaccines Inc.

(Name of Issuer)

Common Shares, no par value per share

(Title of Class of Securities)

91822J 10 3

(CUSIP Number)

Alexander Rakitin

Perceptive Advisors LLC

51 Astor Place, 10th Floor

New York, NY 10003

(646) 205-5340

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

April 24, 2020

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  ☐.

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

 

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No.  91822J 10 3       

 

  (1)   

Name of reporting persons

 

Perceptive Advisors LLC

  (2)  

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Source of funds

 

AF

  (5)  

Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  (6)  

Citizenship or place of organization

 

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

 

     (7)    

Sole voting power

 

0

     (8)   

Shared voting power

 

57,111,289

     (9)   

Sole dispositive power

 

0

   (10)   

Shared dispositive power

 

57,111,289

(11)  

Aggregate amount beneficially owned by each reporting person

 

57,111,289

(12)  

Check box if the aggregate amount in Row (11) excludes certain shares*

 

(13)  

Percent of class represented by amount in Row (11)

 

25.3%

(14)  

Type of reporting person

 

IA


CUSIP No.  91822J 10 3       

 

  (1)   

Name of reporting persons

 

Joseph Edelman

  (2)  

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Source of funds

 

AF

  (5)  

Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  (6)  

Citizenship or place of organization

 

United States of America

Number of

shares

beneficially

owned by

each

reporting

person

with

 

     (7)    

Sole voting power

 

0

     (8)   

Shared voting power

 

57,111,289

     (9)   

Sole dispositive power

 

0

   (10)   

Shared dispositive power

 

57,111,289

(11)  

Aggregate amount beneficially owned by each reporting person

 

57,111,289

(12)  

Check box if the aggregate amount in Row (11) excludes certain shares*

 

(13)  

Percent of class represented by amount in Row (11)

 

25.3%

(14)  

Type of reporting person

 

IN


CUSIP No.  91822J 10 3       

 

  (1)   

Name of reporting persons

 

Perceptive Life Sciences Master Fund, Ltd.

  (2)  

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Source of funds

 

WC

  (5)  

Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  (6)  

Citizenship or place of organization

 

Cayman Islands

Number of

shares

beneficially

owned by

each

reporting

person

with

 

     (7)    

Sole voting power

 

0

     (8)   

Shared voting power

 

55,042,465

     (9)   

Sole dispositive power

 

0

   (10)   

Shared dispositive power

 

55,042,465

(11)  

Aggregate amount beneficially owned by each reporting person

 

55,042,465

(12)  

Check box if the aggregate amount in Row (11) excludes certain shares*

 

(13)  

Percent of class represented by amount in Row (11)

 

24.6%

(14)  

Type of reporting person

 

CO


CUSIP No.  91822J 10 3       

 

  (1)   

Name of reporting persons

 

Perceptive Credit Holdings, LP

  (2)  

Check the appropriate box if a member of a group

(a)  ☐        (b)  ☒

 

  (3)  

SEC use only

 

  (4)  

Source of funds

 

WC

  (5)  

Check box if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  (6)  

Citizenship or place of organization

 

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

 

     (7)    

Sole voting power

 

0

     (8)   

Shared voting power

 

2,068,824

     (9)   

Sole dispositive power

 

0

   (10)   

Shared dispositive power

 

2,068,824

(11)  

Aggregate amount beneficially owned by each reporting person

 

2,068,824

(12)  

Check box if the aggregate amount in Row (11) excludes certain shares*

 

(13)  

Percent of class represented by amount in Row (11)

 

0.9%

(14)  

Type of reporting person

 

PN


CUSIP No.  91822J 10 3

Item 3 – Source and Amount of Funds or Other Consideration.

Item 3 of the Schedule 13D is amended and supplemented as follows:

The Fund purchased the shares of Common Stock described in Item 5(c) using funds from working capital.

Item 4 – Purpose of Transaction.

Item 4 of the Schedule 13D is amended and supplemented as follows:

The information provided in Item 6 of this Amendment No. 6 is incorporated by reference into this Item 4.

Item 5 – Interest in Securities of the Issuer.

Item 5 is amended and supplemented as follows:

(a)-(b) The information required by this item with respect to each Reporting Person is set forth in Rows 7 through 11 and 13 of each cover page to this Schedule 13D. The ownership percentages reported are based on 223,711,744 outstanding shares of Common Stock as reported by the Issuer in its prospectus supplement filed on April 24, 2020.

The Master Fund directly holds 55,042,465 shares of Common Stock. The Credit Fund directly holds 2,068,824 warrants each exercisable for one share of Common Stock. The Investment Manager serves as the investment manager to the Master Fund and the Credit Fund and may be deemed to beneficially own the securities directly held by the Fund and the Credit Fund. Mr. Edelman is the managing member of the Investment Manager and may be deemed to beneficially own the securities directly held by the Master Fund and the Credit Fund.

(c) On April 24, 2020, the Master Fund purchased 9,090,909 shares of Common Stock at a purchase price of $1.10 per share.

(d)-(e) Not applicable

Item 6 – Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Item 6 of the Schedule 13D is amended and supplemented as follows:

Lock-Up Agreement

In connection with the Issuer’s registered public offering, the Reporting Persons have agreed, with certain limited exceptions, including distributions to limited partners and transfers to affiliates, which in each case would be subject to the recipient signing a similar lock-up agreement, not to directly or indirectly: (i) sell, offer, contract or grant any option to sell (including any short sale), pledge, transfer, establish an open “put equivalent position” within the meaning of Rule 16a-l(h) under the Securities Exchange Act of 1934, as amended, or otherwise dispose of any Common Stock or other equity securities of the Issuer, (ii) enter into any swap, hedge or other agreement or transaction that transfers, in whole or in part, the economic consequence of ownership of any Common Stock or other equity securities of the Issuer, (iii) request or demand that the Issuer publicly file a registration statement related to the Common Stock, or (iv) publicly announce an intention to do any of the foregoing, in each case for a period of 90 days from the date of the underwriting agreement for the Issuer’s registered offering, without the prior written consent of the representatives.


SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: April 28, 2020

 

PERCEPTIVE ADVISORS LLC
By:  

/s/ Joseph Edelman

Name:   Joseph Edelman
Title:   Managing Member

 

/s/ Joseph Edelman

JOSEPH EDELMAN

 

PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD.
By:   Perceptive Advisors LLC
By:  

/s/ Joseph Edelman

Name:   Joseph Edelman
Title:   Managing Member

 

PERCEPTIVE CREDIT HOLDINGS, LP
By:   Perceptive Advisors LLC
By:  

/s/ Joseph Edelman

Name:   Joseph Edelman
Title:   Managing Member