SC 13D/A 1 d8368588_13d-a.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

SCHEDULE 13D

THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)*

 

 

Cerecor Inc.
(Name of Issuer)

 

 

Common Stock, $0.001 par value
(Title of Class of Securities)

 

 

15671L109
(CUSIP Number)

 

 

Daniel Radden

c/o Armistice Capital LLC

510 Madison Avenue

7th Floor

New York, NY 10022

Telephone Number: (212) 231-4930

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

Notices and Communications)

 

 

September 4, 2019
(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 ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [_].
   

 

* 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.

 

 

 


CUSIP No.
15671L109    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Armistice Capital, 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

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  39,368,948  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  39,368,948  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  39,368,948  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  64.3%  

 

14. TYPE OF REPORTING PERSON  
     
  IA, OO  

 

 


CUSIP No.
15671L109    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Armistice Capital 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

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  38,968,948  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  38,968,948  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  38,968,948  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  63.7%  

 

14. TYPE OF REPORTING PERSON  
     
  CO  

 

 


CUSIP No.
15671L109    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Steven Boyd  

 

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

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  39,368,948  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  39,368,948  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  39,368,948  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  64.3%  

 

14. TYPE OF REPORTING PERSON  
     
  IN, HC  

 

 

CUSIP No. 15671L109    

 

Item 1. Security and Issuer.  

 

  The name of the issuer is Cerecor Inc., a Delaware corporation (the "Issuer").  The address of the Issuer's principal executive office is 540 Gaither Road, Suite 400, Rockville, Maryland 20850.  This Amendment No. 9 to Schedule 13D relates to the Issuer's Common Stock, $0.001 par value (the "Shares").  
     

 

Item 2. Identity and Background.  

 

  (a), (f) The persons filing this statement are: (i) Armistice Capital, LLC, a Delaware limited liability company (“Armistice Capital”); (ii) Armistice Capital Master Fund Ltd., a Cayman Islands corporation (the “Master Fund”); and (iii) Steven Boyd, a United States citizen (“Mr. Boyd”, and collectively with Armistice Capital and the Master Fund, the “Reporting Persons”).    
       
  (b), (c)

Armistice Capital is an investment adviser registered with the Securities and Exchange Commission (the “SEC”) that is principally engaged in the business of providing investment management services to private investment vehicles, including the Master Fund. The principal business address of Armistice Capital is 510 Madison Avenue, 7th Floor, New York, New York 10022.

 

The Master Fund is principally engaged in the business of investing in securities. The principal business address of the Master Fund is c/o dms Corporate Services Ltd., 20 Genesis Close, P.O. Box 314, Grand Cayman KY1-1104, Cayman Islands. The board of directors of the Master Fund consists of Steven Boyd, Kevin A. Phillip and Gregory S. Bennett.

 

Steven Boyd is the managing member of Armistice Capital and a director of the Master Fund. Mr. Boyd’s business address is 510 Madison Avenue, 7th Floor, New York, New York 10022.

 
       
  (d) None of the Reporting Persons have, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).  
       
  (e) None of the Reporting Persons have, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.  
     

 

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

 

The funds for the purchase of the 39,368,948 Shares beneficially owned by the Armistice Capital and Mr. Boyd came from the working capital of the Master Fund and a separately managed account client of Armistice Capital that is not a Reporting Person. The net investment costs (including commissions, if any) of the Shares beneficially owned by Armistice Capital and Mr. Boyd is approximately $30,071,899.43. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.

 

The funds for the purchase of the 38,968,948 Shares directly owned by the Master Fund came from its working capital. The net investment costs (including commissions, if any) of the Shares directly owned by the Master Fund is approximately $28,171,872.60. No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.

 
     

 

 

Item 4. Purpose of Transaction.  
     
 

The Reporting Persons are filing this Schedule 13D/A to report a change in their respective beneficial ownership percentages of the Shares, as indicated in Item 5 below.

 

On September 4, 2019, the Issuer and the Master Fund entered into a securities purchase agreement (the “Securities Purchase Agreement”), pursuant to which the Master Fund agreed to purchase 1,200,000 Shares at a purchase price of $3.132 per Share.

 

The Issuer and the Master Fund also entered into a Registration Rights Agreement on September 4, 2019 (the “Registration Rights Agreement”), pursuant to which the Issuer has agreed to file a registration statement registering for resale the Shares sold in connection with the Securities Purchase Agreement within 30 days of the closing date.

 

The foregoing was a summary of certain material terms of the Securities Purchase Agreement and the Registration Rights Agreement. The foregoing descriptions are not, and do not purport to be, complete and are qualified in their entirety by reference to the full text of those agreements, which have been filed as Exhibits C and D, respectively, and are incorporated herein by reference.

 

The foregoing was a summary of certain material terms of the Securities Purchase Agreement and the Registration Rights Agreement. The foregoing descriptions are not, and do not purport to be, complete and are qualified in their entirety by reference to the full text of those agreements, which have been filed as Exhibits C and D, respectively, and are incorporated herein by reference.

 

The Reporting Persons purchased the Shares for investment in the ordinary course of their investment activities based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, participating on the Issuer’s board of directors (the “Board”), engaging in communications with management and/or the Board, engaging in discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons’ investment, reshaping the Issuer's corporate strategy, recommending business development transactions, proposing changes to management, operations and the structure of the Board (including the composition of the Board), purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in subparagraphs (a) - (j) of Item 4 of Schedule 13D.

Except as otherwise set forth herein, the Reporting Persons do not have any present plans or proposals which would relate to, or result in, the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D. However, subject to market conditions and in compliance with applicable securities laws, the Reporting Persons reserve the right, at a later date, to effect one or more of such changes or transactions in the number of Shares they may be deemed to beneficially own in open-market or privately negotiated transactions, on such terms and at such times as the Reporting Persons may deem advisable.

 

 

 

Item 5. Interest in Securities of the Issuer.  
     
  (a) - (d)

As of the date hereof, Armistice Capital and Mr. Boyd may be deemed to be the beneficial owner of 39,368,948 Shares, constituting 64.3% of the Shares, based upon 61,192,459 Shares outstanding as of the date hereof, as adjusted for warrants and convertible preferred stock of the Issuer beneficially owned by Armistice Capital and Mr. Boyd. Each of Armistice Capital and Mr. Boyd has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 39,368,948 Shares. Each of Armistice Capital and Mr. Boyd has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 39,368,948 Shares.

 

As of the date hereof, the Master Fund may be deemed to be the direct owner of 38,968,948 Shares, constituting 63.7% of the Shares, based upon 61,192,459 Shares outstanding as of the date hereof, as adjusted for warrants and convertible preferred stock of the Issuer directly owned by the Master Fund. The Master Fund has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 38,968,948 Shares. The Master Fund has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 38,968,948 Shares.

 

The transactions in the Shares by the Reporting Persons during the past sixty days are set forth on Exhibit B. Other than the Shares acquired by the Reporting Persons pursuant to the Securities Purchase Agreement (as described in Item 4 above) and 1,000,000 Shares acquired by the Master Fund in a private transaction on September 6, 2019, all of the reported transactions set forth on Exhibit B were conducted on the open market.

 
       
  (e)

N/A

 

 

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

 
 

The information set forth in Item 4 above is incorporated by reference in its entirety in this Item 6. The Reporting Persons do not have any contract, arrangement, understanding or relationship with any person with respect to securities of the Issuer that is not described in Item 4 above, described in a prior Schedule 13D filed by the Reporting Persons in respect of the Issuer and/or incorporated herein by reference.

 

 

 

Item 7. Material to be Filed as Exhibits.  

 

  Exhibit A: Joint Filing Agreement  
       
  Exhibit B: Schedule of Transactions in the Shares  
       
  Exhibit C: Securities Purchase Agreement, dated September 4, 2019 (incorporated by reference to Exhibit 10.1 to the Form 8-K filed with the SEC by the Issuer on September 9, 2019)  
       
  Exhibit D: Registration Rights Agreement, dated September 4, 2019 (incorporated by reference to Exhibit 10.2 to the Form 8-K filed with the SEC by the Issuer on September 9, 2019)  

 

 

SIGNATURES

 

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

 

  September 11, 2019  
  (Date)  
   
  Armistice Capital, LLC*
   
  By:  /s/ Steven Boyd
 

Name: Steven Boyd

Title: Managing Member

 

 

  Armistice Capital Master Fund Ltd.
   
  By:  /s/ Steven Boyd
 

Name: Steven Boyd

Title: Director

 

  Steven Boyd*
   
 

/s/ Steven Boyd

 

 

 

* The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interests therein, and this report shall not be deemed an admission that such person is the beneficial owner of these securities for purposes of Section 16 of the U.S. Securities Exchange Act of 1934, as amended, or for any other purpose.

 

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).

 

 

 

Exhibit A

 

 

AGREEMENT

 

 

The undersigned agree that this Amendment No. 9 to Schedule 13D, dated September 11, 2019, relating to the Common Stock, $0.001 par value, of Cerecor Inc. shall be filed on behalf of the undersigned.

 

 

  September 11, 2019  
  (Date)  
   
  Armistice Capital, LLC
   
  By:  /s/ Steven Boyd
 

Name: Steven Boyd

Title: Managing Member

 

  Armistice Capital Master Fund Ltd.
   
  By:  /s/ Steven Boyd
 

Name: Steven Boyd

Title: Director

 

  Steven Boyd
   
 

/s/ Steven Boyd

 

 

 

 

 

 

 

Exhibit B

Schedule of Transactions in the Shares

Trade Date Purchase/Sale Quantity Price
08/12/19** Purchase 3,957 $3.22
08/12/19** Purchase 6,954 $3.19
08/12/19** Purchase 1,831 $3.18
08/12/19** Purchase 1,228 $3.19
08/13/19** Purchase 100 $3.17
08/13/19** Purchase 11,189 $3.28
08/13/19** Purchase 14,288 $3.32
08/13/19** Purchase 3,611 $3.31
08/14/19** Purchase 5,609 $3.28
08/14/19** Purchase 13,091 $3.35
08/14/19** Purchase 100 $3.22
08/14/19** Purchase 5,227 $3.36
08/14/19** Purchase 7,351 $3.29
08/14/19** Purchase 5,000 $3.30
08/14/19** Purchase 5,028 $3.38
08/14/19** Purchase 4,731 $3.44
08/14/19** Purchase 10,705 $3.50
08/16/19* Purchase 9,886 $3.43
08/19/19* Purchase 473 $3.50
08/19/19* Purchase 1,825 $3.63
08/29/19* Purchase 4,000 $3.14
08/29/19* Purchase 2,175 $3.15
08/29/19* Purchase 8,000 $3.23
08/29/19* Purchase 2,998 $3.30
08/30/19* Purchase 1,002 $3.40
08/30/19* Purchase 2,000 $3.34
08/30/19* Purchase 2,000 $3.28
08/30/19* Purchase 2,000 $3.20
08/30/19* Purchase 2,000 $3.19
08/30/19* Purchase 2,000 $3.18
08/30/19* Purchase 2,000 $3.20
08/30/19* Purchase 2,000 $3.22
08/30/19* Purchase 2,000 $3.19
08/30/19* Purchase 2,000 $3.19
08/30/19* Purchase 2,000 $3.21
08/30/19* Purchase 2,000 $3.24
08/30/19* Purchase 1,589 $3.24
09/04/19 Purchase 1,200,000 $3.13
09/06/19 Purchase 1,000,000 $2.95

 

 

*Transaction by Armistice Capital on behalf of the Master Fund.

 

**Transaction by Armistice Capital on behalf of a separately managed account client that is not a Reporting Person.