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Delaware
(State or other jurisdiction of
incorporation or organization) |
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45-3213164
(I.R.S. Employer
Identification Number) |
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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Smaller reporting company
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Emerging growth company
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Page
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Name and Address of Selling Stockholder
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Number of
Shares of Common Stock Owned Prior to the Offering |
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Maximum Number of
Shares of Common Stock to be Sold Pursuant to this Prospectus |
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Number of
Shares of Common Stock Owned After the Offering |
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Percentage of Shares
of Common Stock Owned After the Offering |
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Armistice Capital Master Fund
Ltd. c/o Armistice Capital, LLC 510 Madison Avenue, 7th Floor New York, New York 10022 |
| | | | 1,500,000(1) | | | | | | 3,000,000 | | | | | | — | | | | | | — | | |
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SEC registration fee
|
| | | $ | 1,087.68 | | |
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Accounting fees and expenses
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| | | | 10,000.00 | | |
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Legal fees and expenses
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| | | | 75,000.00 | | |
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Miscellaneous
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| | | | 13,912.32 | | |
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Total
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| | | $ | 100,000.00 | | |
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/s/ Jason DiBona
Jason DiBona
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Chief Executive Officer
(Principal Executive Officer) |
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/s/ Ryan Tyler
Ryan Tyler
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Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)
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/s/ Amin J. Khoury, Ph.D. (Hon)
Amin J. Khoury, Ph.D. (Hon)
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Chairman of the Board
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/s/ David Helfet, M.D.
David Helfet, M.D.
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Director
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/s/ Michael Senft
Michael Senft
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Director
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/s/ Thomas P. McCaffrey
Thomas P. McCaffrey
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Director
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/s/ Heather Floyd
Heather Floyd
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Director
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/s/ Timothy J. Scannell
Timothy J. Scannell
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Director
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/s/ Stephen M. Ward, Jr.
Stephen M. Ward, Jr.
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Director
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/s/ Brad Feld
Brad Feld
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Director
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Exhibit 5.1
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New York | ||
Molekule Group, Inc. 10455 Riverside Drive Palm Beach Gardens, Florida 33410 |
601 Lexington Avenue, 31st Floor
T +1 (212) 277-4000 F +1 (646) 521-5726 E valerie.jacob@freshfields.com E michael.levitt@freshfields.com | |
freshfields.us |
January 13, 2023
Ladies and Gentlemen:
We are acting as counsel to Molekule Group, Inc., a Delaware corporation (the Company), in connection with the Company’s Registration Statement on Form S-3 (as amended or supplemented from time to time, the Registration Statement, which term does not include any other document or agreement whether or not specifically referred to therein or attached as an exhibit or schedule thereto), filed by the Company with the Securities and Exchange Commission (the Commission) under the Securities Act of 1933, as amended (the Securities Act). The Registration Statement relates to the offer and sale from time to time by the selling stockholder listed in the Registration Statement under “Selling Stockholder” of up to [3,000,000] shares of the Company’s common stock, $0.01 par value per share (the Common Stock), consisting of (i) an aggregate of [1,500,000] shares of Common Stock (the Shares) and (ii) an aggregate of [1,500,000] shares of Common Stock which may be issued upon the exercise of a Warrant (as defined below) issued by the Company (the Warrant Shares and, together with the Shares, collectively, the Securities).
This opinion is confined to the General Corporation Law of the State of Delaware. Accordingly, we express no opinion herein with regard to any other laws. The opinions expressed herein are limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated herein. We do not undertake to advise you of changes in law or facts that may come to our attention after the date of this letter.
In rendering the opinion expressed below, we have examined the following documents and agreements:
(a) the Warrant, dated as of June 29, 2022, issued by the Company (the Warrant); and
(b) the Registration Statement.
In addition, we have examined and have relied as to matters of fact upon such corporate and other records, agreements, documents and other instruments and certificates or comparable documents of public officials and of officers and representatives of the Company and such other persons, and we have made such other investigations, as we have deemed relevant and necessary as a basis for the opinion expressed below.
Freshfields Bruckhaus Deringer is an international legal practice operating through Freshfields Bruckhaus Deringer US LLP, Freshfields Bruckhaus Deringer LLP, Freshfields Bruckhaus Deringer (a partnership registered in Hong Kong), Freshfields Bruckhaus Deringer Law office, Freshfields Bruckhaus Deringer Foreign Law Office, Studio Legale associato a Freshfields Bruckhaus Deringer, Freshfields Bruckhaus Deringer Rechtsanwälte Steuerberater PartG mbB, Freshfields Bruckhaus Deringer Rechtsanwälte PartG mbB and other associated entities and undertakings. For further regulatory information please refer to www.freshfields.com/support/legal-notice.
2|2
In our examination, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals and the conformity with authentic originals of all documents submitted to us as copies. As to any facts material to the opinion expressed herein that we did not independently establish or verify, we have relied, without independent verification, upon oral or written statements and representations of public officials, officers and other representatives of the Company. We have also assumed that the Warrant has been duly authorized, executed and delivered by the Company. For purposes of the opinion set forth in paragraph 2 below, we have assumed that before the Warrant Shares are issued the Company has not issued shares of Common Stock or reduced the total number of shares of Common Stock that the Company is authorized to issue under its certificate of incorporation such that, at the time the Warrant Shares are to be issued, the number of unissued shares of Common Stock authorized under the Company’s certificate of incorporation is less than the number of Warrant Shares.
Based upon and subject to the foregoing, and subject also to the qualifications set forth below, and having considered such questions of law as we have deemed relevant and necessary as a basis for the opinion expressed below, we are of the opinion that:
1. | The Shares to be sold by the Selling Stockholder have been duly authorized and are validly issued, fully paid and nonassessable. |
2. | The Warrant Shares have been duly authorized and, when the Warrant Shares have been issued upon the exercise of the Warrant in accordance with the terms of the Warrant, the Warrant Shares will be validly issued, fully paid and non-assessable. |
The opinions expressed in this letter are solely for your benefit and the benefit of persons entitled to rely thereon pursuant to applicable provisions of the Securities Act and the rules and regulations of the Commission promulgated thereunder and may not be relied upon in any manner or used for any purpose by any other person or entity.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and further consent to the reference to our name under the caption “Legal Matters” in the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.
Very truly yours,
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in this Registration Statement of Molekule Group, Inc. (formerly known as AeroClean Technologies, Inc.) (the “Company”) on Form S-3 of our report dated April 1, 2022, Inc. relating to the financial statements of the Company appearing in the Annual Report on Form 10-K, as amended, of the Company for the year ended December 31, 2021. We also consent to the use of our Firm name as it appears under the caption "Experts" in this Registration Statement.
/s/ CITRIN COOPERMAN & COMPANY, LLP
New York, New York
January 13, 2023
Exhibit 23.2
CONSENT OF INDEPENDENT AUDITORS
We hereby consent to the incorporation by reference in this Registration Statement on Form S-3 of Molekule Group, Inc. of our report dated October 1, 2022, except for the effects of the reverse stock split discussed in Note 11, as to which the date is November 9, 2022, relating to the financial statements of Molekule, Inc., which appears in Molekule Group, Inc.’s Current Report on Form 8-K dated January 12, 2023. We also consent to the reference to us under the heading “Experts” in such Registration Statement.
/s/ PricewaterhouseCoopers LLP
San Francisco, California
January 13, 2023
Exhibit 107
Calculation of Filing Fee Tables
Form S-3
(Form Type)
Molekule Group, Inc.
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
Security Type |
Security Class Title |
Fee Calculation Rule |
Amount Registered(1) |
Proposed Maximum Offering Price Per Share |
Maximum Aggregate Offering Price |
Fee Rate | Amount of Registration Fee |
|||||||||||||||||
Newly Registered Securities | ||||||||||||||||||||||||
Equity | Common stock, $0.01 par value per share | 1,500,000 | (2) | $ | 3.29 | (3) | $ | 4,935,000.00 | $110.20 per $1,000,000 | $ | 543.84 | |||||||||||||
Equity | Common stock, $0.01 par value per share | 1,500,000 | (4) | $ | 3.29 | (3) | $ | 4,935,000.00 | $110.20 per $1,000,000 | $ | 543.84 | |||||||||||||
Total Offering Amounts | $ | 1,087.68 | ||||||||||||||||||||||
Total Fee Offsets | $ | 0 | ||||||||||||||||||||||
Net Fee Due | $ | 1,087.68 |
(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, this registration statement also covers such additional shares of the common stock, par value $0.01 per share (the “common stock”) of the registrant, as may be issued to prevent dilution from stock splits, stock dividends and similar transactions. The common stock is being registered pursuant to a registration rights agreement, dated as of June 26, 2022 (together with any joinder thereto from time to time, the “PIPE Registration Rights Agreement”), by and between the registrant and the holders party thereto.
(2) Represents 1,500,000 shares of common stock, issued to the selling stockholder on June 29, 2022.
(3) Pursuant to Rules 457(c) under the Securities Act, and solely for the purpose of calculating the registration fee, the proposed maximum offering price per share is the average of the high and low prices reported for the registrant’s common stock quoted on the Nasdaq Capital Market on Monday, January 9, 2023.
(4) Represents 1,500,000 shares of Common Stock issuable upon the exercise of a warrant to purchase up to 1,500,000 shares of common stock at an exercise price of $11.00 per share. The warrant was issued to the selling stockholder on June 29, 2022.
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