Item 1.01 Entry into a Material Definitive Agreement.
On March 29, 2023, Catalyst Biosciences, Inc., a Delaware corporation
("Catalyst"), GNI USA, Inc., a Delaware corporation ("GNI USA"), GNI Group Ltd.,
a company incorporated under the laws of Japan with limited liability ("GNI
Group"), GNI Hong Kong Limited, a company incorporated under the laws of Hong
Kong with limited liability ("GNI HK"), Shanghai Genomics, Inc., a company
organized under the laws of the People's Republic of China ("Shanghai Genomics",
and collectively with GNI USA, GNI Group and GNI HK, the "Contributors," and
each a "Contributor"), the individuals (each, a "Minority Holder" and
collectively, the "Minority Holders") listed on Annex A thereto and Continent
Pharmaceuticals Inc., a Cayman Islands company limited by shares (the "CPI"),
entered into an amendment (the "BCA Amendment") to the previously announced
Business Combination Agreement, dated as of December 26, 2022 (the "Business
Combination Agreement"). The BCA Amendment modifies the Business Combination
Agreement, among other things, by (i) amending and restating Section 1.5 in
connection with the treatment of the Operating Company Options (as defined
therein); (ii) amending and restating Section 6.3, Section 7.1(e) and Section
8.3(a)(i) in connection with the preparation and filing of the proxy statement
and the Resale Shelf Registration Statement (as defined therein); (iii) amending
and restating Section 8.1(b)(i) to extend the Outside Date (as defined therein)
to September 30, 2023; and (iv) amending and restating Section 8.3(a)(ii) in
connection with the reimbursement of certain operating expenses of Parent.
The foregoing description of the BCA Amendment is qualified in its entirety by
reference to the full text of the BCA Amendment, a copy of which is included as
Exhibit 2.1 to this Current Report on Form 8-K and incorporated herein by
reference.
On March 29, 2023, Catalyst, GNI Group and GNI HK entered into an agreement and
amendment (the "Agreement and Amendment") to the previously announced Asset
Purchase Agreement, dated as of December 26, 2022 (the "F351 Agreement"). Among
other things, the Agreement and Amendment (i) modifies the F351 Agreement by
amending and restating Section 4.1 in connection with the preparation and filing
of the proxy statement and the Resale Shelf Registration Statement (as defined
therein) and (ii) provides for the extension of the deadline for the cash
settlement of the Conversion Shares as set forth in Catalyst's Certificate of
Designation of Preferences, Rights and Limitations of the Series X Convertible
Preferred Stock to September 30, 2023.
The foregoing description of the Agreement and Amendment is qualified in its
entirety by reference to the full text of the Agreement and Amendment, a copy of
which is included as Exhibit 2.2 to this Current Report on Form 8-K and
incorporated herein by reference.
On March 29, 2023, Catalyst executed an amendment to Contingent Value Rights
Agreement (the "CVR Agreement Amendment") to the previously announced Contingent
Value Rights Agreement, dated as of December 26, 2022 (the "CVR Agreement"). The
CVR Agreement Amendment amends certain definition set forth in Section 1.1 of
the CVR Agreement to give effect to Catalyst's sale of certain assets under the
GCB APA (as defined in the CVR Agreement Amendment).
The foregoing description of the CVR Agreement Amendment is qualified in its
entirety by reference to the full text of the CVR Agreement Amendment, a copy of
which is included as Exhibit 2.3 to this Current Report on Form 8-K and
incorporated herein by reference.
No Offer or Solicitation
This Current Report on Form 8-K is not intended to be, and does not constitute,
an offer to sell or the solicitation of an offer to subscribe for or buy or an
invitation to purchase or subscribe for any securities or the solicitation of
any vote in any jurisdiction pursuant to the proposed transactions or otherwise,
nor shall there be any sale, issuance or transfer of securities in any
jurisdiction in contravention of applicable law. No offer of securities shall be
made except by means of a prospectus meeting the requirements of the Securities
Act of 1933, as amended. Subject to certain exceptions to be approved by the
relevant regulators or certain facts to be ascertained, the public offer will
not be made directly or indirectly, in or into any jurisdiction where to do so
would constitute a violation of the laws of such jurisdiction, or by use of the
mails or by any means or instrumentality (including without limitation,
facsimile transmission, telephone and the internet) of interstate or foreign
commerce, or any facility of a national securities exchange, of any such
jurisdiction.
--------------------------------------------------------------------------------
Important Additional Information Will be Filed with the SEC
In connection with the proposed transactions between Catalyst, the Contributors,
the Minority Holders and CPI, Catalyst intends to file relevant materials with
the U.S. Securities and Exchange Commission (the "SEC"), including a proxy
statement and registration statement on Form S-3 that will contain a prospectus
of Catalyst. CATALYST URGES ITS INVESTORS AND STOCKHOLDERS TO READ THESE
MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CATALYST, CPI, THE PROPOSED
TRANSACTIONS AND RELATED MATTERS. Investors and stockholders will be able to
obtain free copies of the proxy statement and prospectus and other documents
filed by Catalyst with the SEC (when they become available) through the website
maintained by the SEC at www.sec.gov. In addition, investors and stockholders
will be able to obtain free copies of the proxy statement and prospectus and
other documents filed by Catalyst with the SEC by contacting Catalyst
Biosciences, Inc. at 611 Gateway Blvd. Suite 120, South San Francisco,
California 94080. Investors and stockholders are urged to read the proxy
statement and prospectus and the other relevant materials when they become
available before making any voting or investment decision with respect to the
proposed transactions.
Participants in the Solicitation
Catalyst, the Contributors, the Minority Holders, the entities held by the
Minority Holders, and CPI, and their respective directors and executive officers
may be considered participants in the solicitation of proxies in connection with
the proposed transactions. Information about Catalyst's directors and executive
officers is included in Catalyst's most recent Annual Report on Form 10-K,
including any information incorporated therein by reference, as filed with the
SEC, the proxy statement for Catalyst's 2022 annual meeting of stockholders, and
Catalyst's Form 8-K filed with the SEC on December 27, 2022. Additional
information regarding the persons who may be deemed participants in the
solicitation of proxies will be included in the proxy statement and prospectus
relating to the proposed transactions when it is filed with the SEC. These
documents can be obtained free of charge from the sources indicated above.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number Description
2.1 Amendment to Business Combination Agreement, dated as of March 29, 2023,
by and among Catalyst, GNI USA, GNI Group, GNI HK, Shanghai Genomics,
the Minority Holders and CPI.
2.2 Agreement and Amendment to Asset Purchase Agreement, dated as of March
29, 2023, by and among Catalyst, GNI Group and GNI HK.
2.3 Amendment to Contingent Value Rights Agreement, dated as of March 29,
2023, executed by Catalyst.
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained
in Exhibit 101)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses