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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/15/21 Accolade, Inc. S-1 143:13M Toppan Merrill/FA |
Document/Exhibit Description Pages Size
1: S-1 Registration Statement (General Form) HTML 1.50M
2: EX-5.1 Opinion of Counsel re: Legality HTML 40K
4: EX-10.31 Material Contract HTML 47K
3: EX-10.6 Material Contract HTML 60K
5: EX-23.1 Consent of Expert or Counsel HTML 36K
12: R1 Document and Entity Information HTML 52K
13: R2 Consolidated Balance Sheets HTML 139K
14: R3 Consolidated Balance Sheets (Parenthetical) HTML 61K
15: R4 Consolidated Statements of Operations HTML 100K
16: R5 Consolidated Statements of Convertible Preferred HTML 122K
Stock and Stockholders' Deficit
17: R6 Consolidated Statements of Cash Flows HTML 132K
18: R7 Background HTML 48K
19: R8 Summary of Significant Accounting Policies HTML 116K
20: R9 Acquisition of MD Insider (Mdi) HTML 64K
21: R10 Property and Equipment HTML 59K
22: R11 Accrued Expenses and Accrued Compensation HTML 55K
23: R12 Fair Value Measurements HTML 112K
24: R13 Debt Facility HTML 72K
25: R14 Stockholders' Equity HTML 89K
26: R15 Stock Options and Warrants HTML 263K
27: R16 Defined Contribution Retirement Plan HTML 40K
28: R17 Income Taxes HTML 137K
29: R18 Net Loss Per Common Share HTML 100K
30: R19 Commitments HTML 55K
31: R20 Change Healthcare Joint Development Agreement HTML 48K
32: R21 Related Party Transactions HTML 41K
33: R22 Subsequent Events HTML 40K
34: R23 Property and Equipment (Tables) HTML 57K
35: R24 Accrued Expenses and Accrued Compensation (Tables) HTML 52K
36: R25 Fair Value Measurements (Tables) HTML 110K
37: R26 Debt facility (Tables) HTML 51K
38: R27 Stockholders' Equity (Tables) HTML 79K
39: R28 Stock Options and Warrants (Tables) HTML 247K
40: R29 Income Taxes (Tables) HTML 133K
41: R30 Net Loss Per Common Share (Tables) HTML 101K
42: R31 Commitments (Tables) HTML 48K
43: R32 Summary of Significant Accounting Policies HTML 207K
(Policies)
44: R33 Summary of Significant Accounting Policies HTML 79K
(Tables)
45: R34 Acquisition of MD Insider (Mdi) (Tables) HTML 61K
46: R35 Summary of Significant Accounting Policies - HTML 50K
Useful lives for property and equipment (Details)
47: R36 Summary of Significant Accounting Policies - HTML 47K
Capitalized Internal-Use Software Costs (Details)
48: R37 Summary of Significant Accounting Policies - HTML 49K
Intangible Assets (Details)
49: R38 Summary of Significant Accounting Policies - HTML 58K
Revenue and Deferred Revenue (Details)
50: R39 Summary of Significant Accounting Policies - HTML 42K
Revenue and Deferred Revenue Narratives (Details)
51: R40 Summary of Significant Accounting Policies - Cost HTML 61K
to obtain and fulfill a contract (Details)
52: R41 Summary of Significant Accounting Policies - HTML 64K
Concentration of Credit Risk (Details)
53: R42 Summary of Significant Accounting Policies - HTML 54K
Additional Information (Details)
54: R43 Summary of Significant Accounting Policies - HTML 39K
Deferred Offering Costs (Details)
55: R44 Summary of Significant Accounting Policies - HTML 55K
Unaudited Pro Forma Financial Information -
(Details)
56: R45 Acquisition of MD Insider (MDI) - Summary of HTML 70K
Purchase Consideration (Details)
57: R46 Acquisition of MD Insider (MDI) - Summary of HTML 74K
Estimated Fair Values of Assets Acquired and
Liabilities Assumed (Details)
58: R47 Property and Equipment (Details) HTML 65K
59: R48 Accrued Expenses and Accrued Compensation HTML 51K
(Details)
60: R49 Accrued Expenses and Accrued Compensation - HTML 57K
Additional Information (Details)
61: R50 Fair Value Measurements (Details) HTML 48K
62: R51 Debt facility (Details) HTML 110K
63: R52 Debt facility - Long-Term Debt (Details) HTML 47K
64: R53 Debt facility - Warrant Rights (Details) HTML 96K
65: R54 Stockholders' Equity - Convertible Preferred Stock HTML 90K
(Details)
66: R55 Stockholders' Equity - Additional Information HTML 86K
(Details)
67: R56 Stock Options and Warrants - Shares (Details) HTML 71K
68: R57 Stock Options and Warrants - Compensation expense HTML 51K
(Details)
69: R58 Stock Options and Warrants - Fair value of common HTML 56K
stock (Details)
70: R59 Stock Options and Warrants - Award Option HTML 85K
(Details)
71: R60 Stock Options and Warrants - Equity Instrument HTML 50K
(Details)
72: R61 Stock Options and Warrants - Warrant Rights HTML 99K
(Details)
73: R62 Defined Contribution Retirement Plan - Additional HTML 47K
Information (Details)
74: R63 Income Taxes - Components of loss before income HTML 47K
taxes (Details)
75: R64 Income Taxes - Significant components of income HTML 47K
taxes (Details)
76: R65 Income Taxes - Reconciliation of income tax HTML 56K
expense at U.S. Federal statutory income tax rate
(Details)
77: R66 Income Taxes - Significant components of the HTML 67K
Company's deferred tax assets and liabilities
(Details)
78: R67 Income Taxes - Operating loss carryforwards HTML 47K
(Details)
79: R68 Income Taxes - Tax credit carryforwards (Details) HTML 41K
80: R69 Income Taxes - Changes in deferred tax, valuation HTML 44K
allowance (Details)
81: R70 Income Taxes - Additional Information (Details) HTML 40K
82: R71 Net Loss Per Common Share (Details) HTML 51K
83: R72 Net Loss Per Common Share - Stock Options HTML 46K
(Details)
84: R73 Net Loss Per Common Share - Proforma basic and HTML 82K
diluted (Details)
85: R74 Commitments - Future minimum lease payments HTML 66K
(Details)
86: R75 Commitments - Legal Proceedings (Details) HTML 43K
87: R76 Change Healthcare Joint Development Agreement HTML 105K
(Details)
88: R77 Related Party Transactions (Details) HTML 47K
89: R78 Condensed Consolidated Balance Sheets (Unaudited) HTML 137K
90: R79 Condensed Consolidated Balance Sheets (Unaudited) HTML 62K
(Parenthetical)
91: R80 Condensed Consolidated Statements of Operations HTML 90K
(Unaudited)
92: R81 Condensed Consolidated Statements of Convertible HTML 161K
Preferred Stock and Stockholders' Deficit
(Unaudited)
93: R82 Condensed Consolidated Statements of Convertible HTML 39K
Preferred Stock and Stockholders' Deficit
(Unaudited) (Parenthetical)
94: R83 Condensed Consolidated Statements of Cash Flows HTML 130K
(Unaudited)
95: R84 Background HTML 48K
96: R85 Basis of Presentation and Summary of Significant HTML 77K
Accounting Policies
97: R86 Revenue HTML 56K
98: R87 Acquisition of MD Insider HTML 64K
99: R88 Fair Value Measurements HTML 112K
100: R89 Debt Facility HTML 72K
101: R90 Convertible Preferred Stock and Stockholders' HTML 89K
Equity (Deficit)
102: R91 Equity-based Compensation and Warrants HTML 263K
103: R92 Income Taxes HTML 137K
104: R93 Net Loss Per Share Attributable to Common HTML 100K
Stockholders
105: R94 Commitments HTML 55K
106: R95 Change Healthcare Joint Development Agreement HTML 48K
107: R96 Subsequent Events HTML 40K
108: R97 Basis of Presentation and Summary of Significant HTML 177K
Accounting Policies (Policies)
109: R98 Basis of Presentation and Summary of Significant HTML 83K
Accounting Policies (Tables)
110: R99 Revenue (Tables) HTML 53K
111: R100 Acquisition of MD Insider (Tables) HTML 61K
112: R101 Fair Value Measurements (Tables) HTML 110K
113: R102 Debt facility (Tables) HTML 51K
114: R103 Stockholders' Equity (Tables) HTML 79K
115: R104 Equity-based Compensation and Warrants (Tables) HTML 255K
116: R105 Net Loss Per Share Attributable to Common HTML 85K
Stockholders (Tables)
117: R106 Background - Initial Public Offering (Details) HTML 70K
118: R107 Basis of Presentation and Summary of Significant HTML 47K
Accounting Policies - Capitalized Internal-Use
Software Costs (Details)
119: R108 Basis of Presentation and Summary of Significant HTML 49K
Accounting Policies - Intangible Assets (Details)
120: R109 Basis of Presentation and Summary of Significant HTML 61K
Accounting Policies - Concentration of Credit Risk
(Details)
121: R110 Basis of Presentation and Summary of Significant HTML 48K
Accounting Policies - Deferred Offering Costs
(Details)
122: R111 Revenue - Revenue and Deferred Revenue (Details) HTML 58K
123: R112 Revenue - Revenue and Deferred Revenue Narratives HTML 42K
(Details)
124: R113 Revenue - Cost to obtain and fulfill a contract HTML 64K
(Details)
125: R114 Acquisition of MD Insider - Shares Issued HTML 58K
(Details)
126: R115 Fair Value Measurements (Details) HTML 51K
127: R116 Debt facility (Details) HTML 120K
128: R117 Debt facility - Warrant Rights (Details) HTML 100K
129: R118 Convertible Preferred Stock and Stockholders' HTML 99K
Equity (Deficit) (Details)
130: R119 Equity-based Compensation and Warrants - Stock HTML 92K
Options (Details)
131: R120 Equity-based Compensation and Warrants - HTML 51K
Compensation expense (Details)
132: R121 Equity-based Compensation and Warrants - Stock HTML 97K
Option Activity (Details)
133: R122 Equity-based Compensation and Warrants - HTML 72K
Restricted Stock Units (Details)
134: R123 Equity-based Compensation and Warrants - Common HTML 74K
Stock Warrants (Details)
135: R124 Equity-based Compensation and Warrants - Employee HTML 62K
Stock Purchase Plan (Details)
136: R125 Income Taxes (Details) HTML 47K
137: R126 Net Loss Per Share Attributable to Common HTML 52K
Stockholders (Details)
138: R127 Net Loss Per Share Attributable to Common HTML 49K
Stockholders - Stock Options (Details)
139: R128 Commitments - Legal Proceedings (Details) HTML 46K
140: R129 Change Healthcare Joint Development Agreement HTML 72K
(Details)
142: XML IDEA XML File -- Filing Summary XML 275K
141: EXCEL IDEA Workbook of Financial Reports XLSX 218K
6: EX-101.INS XBRL Instance -- accd-20210315 XML 3.20M
8: EX-101.CAL XBRL Calculations -- accd-20210315_cal XML 239K
9: EX-101.DEF XBRL Definitions -- accd-20210315_def XML 1.20M
10: EX-101.LAB XBRL Labels -- accd-20210315_lab XML 1.73M
11: EX-101.PRE XBRL Presentations -- accd-20210315_pre XML 1.84M
7: EX-101.SCH XBRL Schema -- accd-20210315 XSD 286K
143: ZIP XBRL Zipped Folder -- 0001104659-21-036291-xbrl Zip 316K
Exhibit 5.1
+1 206 452 8756
Accolade, Inc.
1201 Third Avenue, Suite 1700
Ladies and Gentlemen:
You have requested our opinion, as counsel to Accolade, Inc., a Delaware corporation (the “Company"), with respect to certain matters in connection with the filing by the Company of a Registration Statement on Form S-1 (the “Registration Statement”) with the Securities and Exchange Commission, including a related prospectus (the “Prospectus”), covering the registration for resale of 2,495,441 shares of the Company’s common stock, $0.0001 par value (the “Shares”). We have been advised that the Shares have been issued by the Company pursuant to that certain Agreement and Plan of Merger, dated January 14, 2021, by and among the Company, Maestro Merger Sub, LLC, Innovation Specialists LLC d/b/a 2nd.MD, and Shareholder Representative Services LLC (the “Merger Agreement”).
In connection with this opinion, we have examined and relied upon the Registration Statement, the Prospectus, the Company's Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws, each as currently in effect, the Merger Agreement and originals or copies certified to our satisfaction of such records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies; the accuracy, completeness and authenticity of certificates of public officials; and the due authorization, execution and delivery of all documents by all persons other than the Company where authorization, execution and delivery are prerequisites to the effectiveness thereof. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not independently verified such matters.
Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion to the extent that any other laws are applicable to the subject matter hereof and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation.
On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares have been validly issued and are fully paid and non-assessable.
Cooley LLP 1700 Seventh Avenue, Suite 1900 Seattle, WA 98101-1355
t: (206) 452-8700 f: (206) 452-8800 cooley.com
C:
Page Two
We consent to the reference to our firm under the caption “Legal Matters” in the Prospectus and to the filing of this opinion as an exhibit to the Registration Statement.
Sincerely,
Cooley LLP
| By: | /s/ Alan D. Hambelton | |
| Alan D. Hambelton |
Cooley LLP 1700 Seventh Avenue, Suite 1900
Seattle, WA 98101-1355
t: (206) 452-8700 f: (206) 452-8800 cooley.com
C:
| This ‘S-1’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 3/15/21 | |||
| 1/14/21 | 8-K | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/26/24 Accolade, Inc. 10-K 2/29/24 98:9.3M 4/28/23 Accolade, Inc. 10-K 2/28/23 103:11M Toppan Merrill Bridge/FA 5/02/22 Accolade, Inc. 10-K 2/28/22 102:12M Toppan Merrill Bridge/FA 5/11/21 Accolade, Inc. POS AM 2:707K Toppan Merrill/FA 5/07/21 Accolade, Inc. 10-K 2/28/21 103:10M Toppan Merrill Bridge/FA 4/01/21 Accolade, Inc. S-1/A 4:3.7M Toppan Merrill/FA |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/04/21 Accolade, Inc. 8-K:1,3,8,9 3/03/21 13:1.5M Toppan Merrill/FA 11/09/20 Accolade, Inc. 8-K:1,9 11/06/20 11:245K Toppan Merrill/FA 10/14/20 Accolade, Inc. 10-Q 8/31/20 64:5.9M Toppan Merrill Bridge/FA 8/25/20 Accolade, Inc. 8-K:1,9 8/21/20 11:269K Toppan Merrill Bridge/FA 7/10/20 Accolade, Inc. 8-K:5,9 7/07/20 2:58K Toppan Merrill/FA 6/24/20 Accolade, Inc. S-1/A 5:5.7M Toppan Merrill-FA 6/16/20 Accolade, Inc. S-1/A 10:7.8M Toppan Merrill-FA 2/28/20 Accolade, Inc. S-1 39:24M Toppan Merrill-FA |