FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Eledon Pharmaceuticals, Inc. [ ELDN ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/09/2024 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock, $0.001 par value(1) | 05/09/2024 | P | 1,031,385(2)(3) | A | (2)(3) | 3,361,803 | D(5) | |||
Common Stock, $0.001 par value(1) | 05/09/2024 | P | 821,121(2)(3) | A | (2)(3) | 2,633,679 | D(6) | |||
Common Stock, $0.001 par value(1) | 05/09/2024 | P | 75,431(2)(3) | A | (2)(3) | 220,460 | D(7) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | 05/09/2024 | P | 3,173,135 | (2)(4) | (2)(4) | Common Stock, $0.001 par value | 3,173,135 | (2)(4) | 3,173,135 | D(5) | ||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | 05/09/2024 | P | 2,526,238 | (2)(4) | (2)(4) | Common Stock, $0.001 par value | 2,526,238 | (2)(4) | 2,526,238 | D(6) | ||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | 05/09/2024 | P | 232,068 | (2)(4) | (2)(4) | Common Stock, $0.001 par value | 232,068 | (2)(4) | 232,068 | D(7) | ||||
Series X Convertible Preferred(1) | (8) | (8) | (8) | Common Stock, $0.001 par value | 122,833(10) | 2,211 | D(5) | ||||||||
Series X Convertible Preferred(1) | (8) | (8) | (8) | Common Stock, $0.001 par value | 96,611(10) | 1,739 | D(6) | ||||||||
Series X Convertible Preferred(1) | (8) | (8) | (8) | Common Stock, $0.001 par value | 19,222(10) | 346 | D(7) | ||||||||
Series X1 Convertible Preferred(1) | (9) | (9) | (9) | Common Stock, $0.001 par value | 3,214,437(10) | 57,860 | D(5) | ||||||||
Series X1 Convertible Preferred(1) | (9) | (9) | (9) | Common Stock, $0.001 par value | 2,374,987(10) | 42,750 | D(6) | ||||||||
Series X1 Convertible Preferred(1) | (9) | (9) | (9) | Common Stock, $0.001 par value | 424,169(10) | 7,635 | D(7) | ||||||||
Warrants to Purchase Common Stock(1) | $12.96(10) | (11) | 07/14/2025 | Common Stock, $0.001 par value | 79,500(10) | 79,500(10) | D(5) | ||||||||
Warrants to Purchase Common Stock(1) | $12.96(10) | (11) | 07/14/2025 | Common Stock, $0.001 par value | 64,549(10) | 64,549(10) | D(6) | ||||||||
Warrants to Purchase Common Stock(1) | $12.96(10) | (11) | 07/14/2025 | Common Stock, $0.001 par value | 11,415(10) | 11,415(10) | D(7) | ||||||||
Warrants to Purchase Series X1 Convertible Preferred Stock(1) | $8,962.74(10) | (12) | 09/14/2025 | Series X1 Convertible Preferred Stock, $0.001 par value | 1,453,000(10) | 1,453 | D(5) | ||||||||
Warrants to Purchase Series X1 Convertible Preferred Stock(1) | $8,962.74(10) | (12) | 09/14/2025 | Series X1 Convertible Preferred Stock, $0.001 par value | 1,086,000(10) | 1,086 | D(6) | ||||||||
Warrants to Purchase Series X1 Convertible Preferred Stock(1) | $8,962.74(10) | (12) | 09/14/2025 | Series X1 Convertible Preferred Stock, $0.001 par value | 189,000(10) | 189 | D(7) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (13) | 12/31/2030 | Common Stock, $0.001 par value | 254,666 | 254,666 | D(5) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (13) | 12/31/2030 | Common Stock, $0.001 par value | 200,245 | 200,245 | D(6) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (13) | 12/31/2030 | Common Stock, $0.001 par value | 39,938 | 39,938 | D(7) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (14)(15) | (14)(15) | Common Stock, $0.001 par value | 2,028,645 | 2,028,645 | D(5) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (14)(15) | (14)(15) | Common Stock, $0.001 par value | 1,609,063 | 1,609,063 | D(6) | ||||||||
Pre-funded Warrants to Purchase Common Stock(1) | $0.001 | (14)(15) | (14)(15) | Common Stock, $0.001 par value | 165,950 | 165,950 | D(7) | ||||||||
Warrants to Purchase Common Stock(1) | $3 | (14)(16) | (14)(16) | Common Stock, $0.001 par value | 3,084,090 | 3,084,090 | D(5) | ||||||||
Warrants to Purchase Common Stock(1) | $3 | (14)(16) | (14)(16) | Common Stock, $0.001 par value | 2,446,209 | 2,446,209 | D(6) | ||||||||
Warrants to Purchase Common Stock(1) | $3 | (14)(16) | (14)(16) | Common Stock, $0.001 par value | 252,291 | 252,291 | D(7) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), BVF Partners OS Ltd. ("Partners OS"), BVF I GP LLC ("BVF GP"), BVF II GP LLC ("BVF2 GP"), BVF GP Holdings LLC ("BVF GPH"), BVF Partners L.P. ("Partners"), BVF Inc. and Mark N. Lampert (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a group for purposes of Section 13(d) of the Securities Exchange Act of 1934 (the "Exchange Act") that collectively beneficially owns over 10% of the Issuer's outstanding shares of Common Stock (the "Common Stock"). Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. |
2. Pursuant to a securities purchase agreement between the Issuer and certain institutional and accredited investors, including certain of the Reporting Persons (the "2024 Purchasers"), the Issuer agreed to issue and sell to the 2024 Purchasers in a private placement (the "2024 Private Placement") shares of Common Stock at a price of $2.37 per share, and pre-funded warrants (the "2024 Pre-Funded Warrants") at a price of $2.369 per underlying share, which are exercisable into shares of Common Stock at an exercise price of $0.001 per share. |
3. Shares of Common Stock purchased in the 2024 Private Placement. |
4. 2024 Pre-Funded Warrants purchased in the 2024 Private Placement. The 2024 Pre-Funded Warrants are exercisable immediately and shall expire when exercised in full. The 2024 Pre-Funded Warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of the outstanding shares of Common Stock, subject to certain exceptions. |
5. Securities owned directly by BVF. As the general partner of BVF, BVF GP may be deemed to beneficially own the securities owned directly by BVF. As the sole member of BVF GP, BVF GPH may be deemed to beneficially own the securities owned directly by BVF. As the investment manager of BVF, Partners may be deemed to beneficially own the securities owned directly by BVF. As the general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF. |
6. Securities owned directly by BVF2. As the general partner of BVF2, BVF2 GP may be deemed to beneficially own the securities owned directly by BVF2. As the sole member of BVF2 GP, BVF GPH may be deemed to beneficially own the securities owned directly by BVF2. As the investment manager of BVF2, Partners may be deemed to beneficially own the securities owned directly by BVF2. As the general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF2. |
7. Securities owned directly by Trading Fund OS. As the general partner of Trading Fund OS, Partners OS may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment manager of Trading Fund OS and the sole member of Partners OS, Partners may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by Trading Fund OS. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by Trading Fund OS. |
8. The Series X Convertible Preferred Stock may not be exercised if, after such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d), more than 9.99% of the shares of Common Stock outstanding immediately after giving effect to such exercise. Each share of Series X Convertible Preferred Stock is convertible into 55.55 shares of Common Stock. The Series X Convertible Preferred Stock does not have an expiration date and is subject to certain adjustments pursuant to the Series X Exchange Agreement filed as Exhibit 10.1 to Form 8-K filed by the Issuer with the Securities and Exchange Commission on January 7, 2021. |
9. The Series X1 Convertible Preferred Stock may not be exercised if, after such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d), more than 9.99% of the shares of Common Stock outstanding immediately after giving effect to such exercise. Each share of Series X1 Convertible Preferred Stock is convertible into 55.55 shares of Common Stock. The Series X1 Convertible Preferred Stock does not have an expiration date and is subject to certain adjustments pursuant to the Series X1 Exchange Agreement filed as Exhibit 10.1 to Form 8-K filed by the Issuer with the Securities and Exchange Commission on January 13, 2022. |
10. Reflects a one-for-eighteen reverse stock split of the Issuer's issued and outstanding Common Stock, effective as of October 5, 2020 (the "Stock Split"). |
11. Pursuant to a warrant exercise agreement between the Issuer and the Reporting Persons, the Issuer issued to the Reporting Persons warrants to purchase shares of Common Stock at an exercise price of $0.72 per share, with an exercise period of five and a half years (July 14, 2025). The warrants are subject to adjustment in the event of stock splits, recapitalizations and other similar events affecting the Common Stock. The warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with the Exchange Act, more than 9.99% of Common Stock, subject to certain exceptions. In connection with the Stock Split, the exercise price was adjusted to $12.96. |
12. Pursuant to a purchase agreement between the Issuer and the Reporting Persons, the Issuer issued to the Reporting Persons warrants to purchase shares of the Series X1 Convertible Preferred Stock at an exercise price of $497.93 per share, with an exercise period of five years (September 14, 2025). Each warrant to purchase shares of the Series X1 Convertible Preferred Stock is convertible into 1 share of Series X1 Convertible Preferred Stock, which is convertible into 1,000 shares of Common Stock. The warrants are subject to adjustment in the event of stock splits, recapitalizations and other similar events affecting the Common Stock. The warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of Common Stock, subject to certain exceptions. In connection with the Stock Split, the exercise price was adjusted to $8,962.74. |
13. Pursuant to a warrant exchange agreement between the Issuer and the Reporting Persons, the Issuer issued to the Reporting Persons warrants to purchase shares of Common Stock at an exercise price equal to $0.001 per share, with an exercise period of ten years (December 31, 2030). Each warrant to purchase shares of the Common Stock is convertible into 1 share of Common Stock. The warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of Common Stock, subject to certain exceptions. |
14. Pursuant to a securities purchase agreement between the Issuer and certain institutional and accredited investors, including certain of the Reporting Persons (the "2023 Purchasers"), the Issuer agreed to issue and sell to the 2023 Purchasers in a private placement (the "2023 Private Placement"), in an initial closing, shares of the Issuer's Common Stock or pre-funded warrants in lieu thereof (the "2023 Pre-Funded Warrants"), and common stock warrants exercisable into shares of Common Stock (or 2023 Pre-Funded Warrants in lieu thereof) (the "Common Warrants") at a per share purchase price equal to $2.31 (less $0.001 for each 2023 Pre-Funded Warrant, as applicable). |
15. 2023 Pre-Funded Warrants purchased in the 2023 Private Placement. The 2023 Pre-Funded Warrants are exercisable immediately and shall expire when exercised in full. The 2023 Pre-Funded Warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of the outstanding shares of Common Stock, subject to certain exceptions. |
16. Common Warrants purchased in the 2023 Private Placement. The Common Warrants are exercisable immediately and have a term of exercise equal to five years. The Common Warrants cannot be exercised by the Reporting Persons if, after giving effect thereto, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of the outstanding shares of Common Stock, subject to certain exceptions. |
BVF Partners L.P., By: BVF Inc., its general partner, By: /s/ Mark N. Lampert, President | 05/13/2024 | |
Biotechnology Value Fund, L.P., By: BVF I GP LLC, its general partner, By: /s/ Mark N. Lampert, Chief Executive Officer | 05/13/2024 | |
BVF I GP LLC, By: /s/ Mark N. Lampert, Chief Executive Officer | 05/13/2024 | |
Biotechnology Value Fund II, L.P., By: BVF II GP LLC, its general partner, By: /s/ Mark N. Lampert, Chief Executive Officer | 05/13/2024 | |
BVF II GP LLC, By: /s/ Mark N. Lampert, Chief Executive Officer | 05/13/2024 | |
BVF Partners OS Ltd., By: BVF Partners L.P., its sole member, By: BVF Inc., its general partner, By: /s/ Mark N. Lampert, President | 05/13/2024 | |
Biotechnology Value Trading Fund OS LP, By: BVF Partners L.P., its investment manager, BVF Inc., its general partner, By: /s/ Mark N. Lampert, President | 05/13/2024 | |
BVF GP Holdings LLC, By: /s/ Mark N. Lampert, Chief Executive Officer | 05/13/2024 | |
BVF Inc., By: /s/ Mark N. Lampert, President | 05/13/2024 | |
/s/ Mark N. Lampert | 05/13/2024 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |