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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/26/22 Sanara MedTech Inc. S-8 8/26/22 9:538K M2 Compliance LLC/FA |
Document/Exhibit Description Pages Size
1: S-8 Registration Statement - Securities for an HTML 113K
Employee Benefit Plan
2: EX-5.1 Opinion of Counsel re: Legality HTML 17K
3: EX-23.1 Consent of Expert or Counsel HTML 7K
4: EX-23.2 Consent of Expert or Counsel HTML 6K
9: EX-FILING FEES Filing Fees HTML 21K
5: EX-99.2 Miscellaneous Exhibit HTML 76K
6: EX-99.3 Miscellaneous Exhibit HTML 77K
7: EX-99.5 Miscellaneous Exhibit HTML 110K
8: EX-99.6 Miscellaneous Exhibit HTML 110K
| Page | (sequential) | (alphabetic) | ↑Top | ||
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| 1 | 1st Page – Filing Submission | ||||
| " | Power of Attorney (included on the signature page of this Registration Statement) | ||||
As filed with the Securities and Exchange Commission on August 26, 2022
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Sanara MedTech Inc.
(Exact name of registrant as specified in its charter)
| Texas | 59-2219994 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) | |
1200 Summit Ave., Suite 414 Fort Worth, Texas (Address of Principal Executive Offices) |
76102 (Zip Code) |
Options Assumed by Sanara MedTech Inc.
Originally Granted Under the Precision Healing Inc. 2020 Stock Option and Grant Plan
Sanara MedTech Inc. Restated 2014 Omnibus Long Term Incentive Plan
(Full title of the plan)
Michael D. McNeil
Chief Financial Officer
Sanara MedTech Inc.
1200 Summit Ave., Suite 414
(817) 529-2300
(Name, address and telephone number, including area code, of agent for service)
Copies to:
Matthew L. Fry, Esq.
Haynes and Boone, LLP
2323 Victory Avenue, Suite 700
(214) 651-5000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
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EXPLANATORY NOTE
On April 1, 2022, Sanara MedTech Inc., a Texas corporation (“we,” “us,” “our” or the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, United Wound and Skin Solutions, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“UWSS”), Precision Healing Inc., a Delaware corporation (“Precision Healing”), PH Merger Sub I, Inc., a Delaware corporation (“Merger Sub I”), PH Merger Sub II, LLC, a Delaware limited liability company (“Merger Sub II”), and Furneaux Capital Holdco, LLC (d/b/a BlueIO), solely in its capacity as the representative of the securityholders of Precision Healing.
On April 4, 2022 (the “Closing Date”), the transactions contemplated by the Merger Agreement closed and Merger Sub I merged with and into Precision Healing, with Precision Healing being the surviving entity and becoming a wholly owned subsidiary of UWSS and an indirect subsidiary of the Company (the “First Merger”). In addition, as part of the same overall transaction, the surviving entity of the First Merger merged with and into Merger Sub II, with Merger Sub II being the surviving entity and continuing as a wholly owned subsidiary of UWSS and an indirect subsidiary of the Company (the “Second Merger” and together with the First Merger, the “Merger”).
Pursuant to the Merger Agreement, on the Closing Date, the Precision Healing options previously granted under the Precision Healing Inc. 2020 Stock Option and Grant Plan (the “Precision Healing Plan”) and outstanding immediately prior to the First Merger Effective Time (as defined in the Merger Agreement) converted pursuant to their terms into options to acquire, on the same terms and conditions as were applicable under such Precision Healing options immediately prior to the First Merger Effective Time, an aggregate of 144,191 shares of common stock, par value $0.001 per share, of the Company (“Common Stock”) with a weighted exercise price of $10.71 per share. Accordingly, this Registration Statement on Form S-8 (this “Registration Statement”) relates to 144,191 shares of Common Stock that may be issued pursuant to the Company’s assumption of the Precision Healing Plan in connection with the Merger.
This Registration Statement also relates to 11,500 shares of Common Stock that may be issued upon the exercise of options previously granted to certain employees of the Company under the Sanara MedTech Inc. Restated 2014 Omnibus Long Term Incentive Plan (the “2014 LTIP”), which shares underlying such options were not previously registered.
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PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
In accordance with the instructional Note to Part I of Form S-8 as promulgated by the Securities and Exchange Commission (the “Commission”), the information specified by Part I of Form S-8 has been omitted from this Registration Statement for offers of Common Stock pursuant to the 2014 LTIP and Precision Healing Plan. The documents containing this information will be sent or given to eligible participants as specified in Rule 428(b)(1) of the Securities Act of 1933, as amended (the “Securities Act”). Such documents are not being filed by the Company with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
| ITEM 3. | Incorporation of Documents by Reference. |
The following documents filed by the Company with the Commission are hereby incorporated into this Registration Statement by reference:
| ● | our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Commission on March 31, 2022; | |
| ● | our Quarterly Reports on Form 10-Q for the quarter ended March 31, 2022, filed with the Commission on May 16, 2022, and for the quarter ended June 30, 2022, filed with the Commission on August 15, 2022; | |
| ● | the portions of our Definitive Proxy Statement on Schedule 14A filed with the Commission on April 29, 2022, that are deemed “filed” with the Commission; | |
| ● | our Current Reports on Form 8-K filed with the Commission on January 6, 2022, March 28, 2022, April 4, 2022, April 8, 2022, April 29, 2022, June 10, 2022 and July 5, 2022 (as amended on July 15, 2022); and | |
| ● | the description of our securities contained in Exhibit 4.1 to our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Commission on March 31, 2022, including all amendments and reports filed for the purpose of updating such description. |
In addition, all documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), subsequent to the date of this Registration Statement (other than any such documents or portions thereof that are furnished, including under Item 2.02 or Item 7.01 of a Current Report on Form 8-K, unless otherwise indicated therein, including any exhibits included with such Items), prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in this Registration Statement or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained or incorporated by reference herein or in any subsequently filed document which is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Notwithstanding the foregoing, no information is incorporated by reference in this Registration Statement where such information under applicable forms and regulations of the Commission is not deemed to be “filed” under Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, unless the report or filing containing such information indicates that the information therein is to be considered “filed” under the Exchange Act or is to be incorporated by reference in this Registration Statement.
| Item 4. | Description of Securities. |
Not applicable.
| Item 5. | Interests of Named Experts and Counsel. |
Not applicable.
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| Item 6. | Indemnification of Directors and Officers. |
Section 8.101 of the Texas Business Organizations Code (“TBOC”) provides that a corporation may indemnify any director or officer who was, is or is threatened to be named as a defendant or respondent in a proceeding because he or she is or was a director or officer, provided that the director or officer (i) conducted himself or herself in good faith, (ii) reasonably believed (a) in the case of conduct in his or her official capacity, that his or her conduct was in the corporation’s best interests or (b) in all other cases, that his or her conduct was not opposed to the corporation’s best interests and (iii) in the case of any criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful. Subject to certain exceptions, a director or officer may not be indemnified if such person is found liable to the corporation or if such person is found liable on the basis that he or she improperly received a personal benefit. Under Texas law, reasonable expenses incurred by a director or officer may be paid or reimbursed by the corporation in advance of a final disposition of the proceeding after the corporation receives a written affirmation by the director or officer of his good faith belief that he has met the standard of conduct necessary for indemnification and a written undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined that the director or officer is not entitled to indemnification by the corporation. Texas law requires a corporation to indemnify an officer or director against reasonable expenses incurred in connection with a proceeding in which he is named a defendant or respondent because he is or was a director or officer if he is wholly successful in the defense of the proceeding.
Texas law also permits a corporation to purchase and maintain insurance or another arrangement on behalf of any person who is or was a director or officer against any liability asserted against him and incurred by him in such a capacity or arising out of his or her status as such a person, whether or not the corporation would have the power to indemnify him or her against that liability under Section 8.101 of the TBOC.
Our certificate of formation and bylaws provide that we will, to the fullest extent permitted by the TBOC, indemnify each of our directors and officers against liabilities imposed upon them (including reasonable amounts paid in settlement) and expenses incurred by them in connection with any claim made against them or any action, suit or proceeding to which they may be a party by reason of their being or having been a director or officer of the Company or having served in the same or other capacities for another entity at the request of the Company.
The indemnification rights set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire under any statute, provision of our certificate of formation or bylaws, agreement, vote of shareholders or disinterested directors or otherwise.
We believe that these bylaw provisions are necessary to attract and retain qualified persons as directors, officers and employees. We also maintain directors’ and officers’ liability insurance.
| Item 7. | Exemption from Registration Claimed. |
Not applicable.
Item 8. Exhibits.
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| Item 9. | Undertakings |
| (a) | The undersigned registrant hereby undertakes: |
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;
(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fort Worth, State of Texas, on August 26, 2022.
| SANARA MEDTECH INC. | ||
| (Registrant) | ||
| Date: August 26, 2022 | ||
| By: | /s/ Michael D. McNeil | |
| Michael D. McNeil | ||
| Chief Financial Officer | ||
Each person whose signature appears below constitutes and appoints Zachary Fleming and Michael D. McNeil, severally, each with full power to act alone and without the others, his or her true and lawful attorney-in-fact, with full power of substitution, and with the authority to execute in the name of each such person, any and all amendments (including without limitation, post-effective amendments) to this registration statement on Form S-8, and to file such registration statements with the Securities and Exchange Commission, together with any exhibits thereto and other documents therewith, necessary or advisable to enable the registrant to comply with the Securities Act of 1933, and any rules, regulations and requirements of the Securities and Exchange Commission in respect thereof, which amendments may make such other changes in the registration statement as the aforesaid attorney-in-fact executing the same deems appropriate.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
| Signature | Title | Date | ||
/s/ Zachary B. Fleming |
Chief Executive Officer |
August 26, 2022 | ||
| Zachary B. Fleming | (Principal Executive Officer) | |||
/s/ Michael D. McNeil |
Chief Financial Officer |
August 26, 2022 | ||
| Michael D. McNeil | (Principal Financial Officer and Principal Accounting Officer) | |||
/s/ Ronald T. Nixon |
Executive Chairman | August 26, 2022 | ||
| Ronald T. Nixon | ||||
/s/ Robert A. DeSutter |
Director | August 26, 2022 | ||
| Robert A. DeSutter | ||||
/s/ Roszell Mack III |
Director | August 26, 2022 | ||
| Roszell Mack III | ||||
/s/ Sara N. Ortwein |
Director | August 26, 2022 | ||
| Sara N. Ortwein | ||||
/s/ Ann Beal Salamone |
Director | August 26, 2022 | ||
| Ann Beal Salamone | ||||
/s/ James W. Stuckert |
Director | August 26, 2022 | ||
| James W. Stuckert | ||||
/s/ Eric D. Tanzberger |
Director | August 26, 2022 | ||
| Eric D. Tanzberger | ||||
/s/ Kenneth E. Thorpe |
Director | August 26, 2022 | ||
| Kenneth E. Thorpe |
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| This ‘S-8’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on / Effective on: | 8/26/22 | |||
| 8/15/22 | 10-Q, 8-K | |||
| 5/16/22 | 10-Q, 8-K | |||
| 4/29/22 | 8-K, DEF 14A, DEFA14A | |||
| 4/4/22 | 8-K | |||
| 4/1/22 | 8-K | |||
| 3/31/22 | 10-K, 10-Q | |||
| 12/31/21 | 10-K | |||
| List all Filings | ||||