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As filed with the Securities and Exchange Commission on February 22, 2024 |
| | Registration No. 333- |
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
NovoCure Limited
(Exact name of registrant as specified in its charter)
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Jersey (State or other jurisdiction of incorporation or organization) | 98-1057807 (I.R.S. Employer Identification Number) |
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NovoCure Limited
Second Floor, No.4 The Forum
Grenville Street
St. Helier, Jersey JE2 4UF
(Address, including zip Code, of Principal Executive Offices)
NovoCure Limited 2015 Omnibus Incentive Plan
NovoCure Limited Employee Share Purchase Plan
(Full title of each plan)
Ashley Cordova
Chief Financial Officer
NovoCure Limited
c/o Novocure Inc.
1150 Liberty Ridge Drive
Suite 115
Wayne, PA 19087
(212) 767-7530
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to :
Pran Jha
Sidley Austin LLP
One South Dearborn Street
Chicago, Illinois 60603
(312) 853-7000
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.
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| Large Accelerated Filer | ☒ | Accelerated Filer | ☐ |
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| Non-Accelerated Filer | ☐ | Smaller Reporting Company | ☐ |
| | Emerging Growth Company | ☐ |
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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. ☐
EXPLANATORY NOTE
This Registration Statement on Form S-8 (this “Registration Statement”) is being filed to register an additional 4,278,200 ordinary shares issuable under the NovoCure Limited 2015 Omnibus Incentive Plan (the "2015 Plan") and an additional 1,069,550 ordinary shares issuable under the NovoCure Limited Employee Share Purchase Plan ("ESPP"). Registration Statements on Form S-8 (File Nos. 333-209854, 333-217619, 333-224606, 333-232896, 333-236862, 333-253499, 333-262965, and 333-269926) (collectively, the “Previous Registration Statements”) were filed with the Securities and Exchange Commission (the “Commission”) by the Registrant on March 1, 2016, May 3, 2017, May 1, 2018, July 30, 2019, March 3, 2020, February 25, 2021, February 24, 2022, and February 23, 2023 respectively, which included ordinary shares issuable under the 2015 Plan and the ESPP. The Previous Registration Statements covered a total of 43,465,227 ordinary shares issuable under the 2015 Plan and 4,464,648 ordinary shares issuable under the ESPP, respectively.
The contents of the Previous Registration Statements are hereby incorporated by reference pursuant to General Instruction E of Form S-8, except for Items 3 and 8 of Part II, which are being updated by this Registration Statement.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents, which previously have been filed with the Commission, are hereby incorporated by reference into this Registration Statement:
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| (a) | The Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 22, 2024; and |
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All documents filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered hereby have been sold or that deregisters all offerings of securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents.
Any statement contained 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 herein or in any subsequently filed document which also is or 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.
In no event, however, will any information that the Registrant discloses under Item 2.02 and Item 7.01 of any Current Report on Form 8-K that the Registrant may from time to time furnish to the Commission be incorporated by reference into, or otherwise become a part of, this Registration Statement. Any statement contained in a document that is deemed to be incorporated by reference or deemed to be part of this Registration Statement after the most recent effective date may modify or replace existing statements contained in this Registration Statement.
Item 8. Exhibits.
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Exhibit
Number | | | | Incorporated by Reference | | Filed
Herewith |
| Exhibit Description | | Form | | Date | | Number | |
| 4.1 | | | | S-1/A | | 9/21/2015 | | 3.3 | | |
| 4.2 | | | | 8-K | | 6/10/2022 | | 3.1 | | |
| 5.1 | | | | | | | | | | X |
| 10.1 | | | | S-1/A | | 9/21/2015 | | 10.5 | | |
| 10.2 | | | | S-1/A | | 9/21/2015 | | 10.15 | | |
| 23.1 | | | | | | | | | | X |
| 23.2 | | Consent of Ogier (included in Exhibit 5.1) | | | | | | | | X |
| 24.1 | | Power of Attorney (included in signature page) | | | | | | | | X |
| 107 | | | | | | | | | | X |
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 Wayne, Commonwealth of Pennsylvania, on February 22, 2024.
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| NOVOCURE LIMITED |
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| By: | /s/ Ashley Cordova |
| | Ashley Cordova |
| | Chief Financial Officer |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby severally constitutes and appoints Ashley Cordova and Steven Robbins, and each of them individually, with full power of substitution and resubstitution, his or her true and lawful attorney-in fact and agent, with full powers to each of them to sign for such persons below, in his or her name and in the capacities indicated below, and any and all amendments to this Registration Statement on Form S-8 (including post-effective amendments), and to file the same, with all exhibits thereto, with the Commission, and granting unto said attorneys, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as each of such person below might or could do in person, and hereby ratifying and confirming all that said attorneys, and each of them, or their substitute or substitutes, may lawfully do or cause to be done by virtue of this Power of Attorney. This power of attorney may be executed in counterparts.
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.
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| Signatures | | Title | | Date |
By: | /s/ Asaf Danziger | | Chief Executive Officer and Director (Principal Executive Officer) | | February 22, 2024 |
Asaf Danziger
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By: | /s/ Ashley Cordova | | Chief Financial Officer (Principal Financial and Accounting Officer) and Authorized Representative in the United States | | February 22, 2024 |
Ashley Cordova
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| By: | /s/ William F. Doyle | | Executive Chairman and Director | | February 22, 2024 |
William F. Doyle
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By: | /s/ Kinyip Gabriel Leung | | Director | | February 22, 2024 |
Kinyip Gabriel Leung
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| By: | /s/ Jeryl L. Hilleman | | Director | | February 22, 2024 |
Jeryl L. Hilleman
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| By: | /s/ David T. Hung | | Director | | February 22, 2024 |
David T. Hung
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| By: | /s/ Martin J. Madden | | Director | | February 22, 2024 |
Martin J. Madden
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| By: | /s/ Allyson Ocean | | Director | | February 22, 2024 |
| Allyson Ocean | | |
| By: | /s/ Timothy J. Scannell | | Director | | February 22, 2024 |
Timothy J. Scannell
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| By: | /s/ Kristin Stafford | | Director | | February 22, 2024 |
| Kristin Stafford | | |
| By: | /s/ William A. Vernon | | Director | | February 22, 2024 |
William A. Vernon | | |
Exhibit 107
Calculation of Filing Fee Table
Form S-8
(Form Type)
NovoCure Limited
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
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| Security Type | Security Class Title | Fee Calculation Rule | Amount Registered (1) (2) | Proposed Maximum Offering Price Per Unit (3) | Maximum Aggregate Offering Price | Fee Rate | Amount of Registration Fee |
| Equity | Ordinary Shares, no par value | Rule 457(c) and Rule 457(h) | 5,347,750 | $15.92 | $85,136,180.00 | 0.0001476 | $12,566.10 |
| Total Offering Amount | | $85,136,180.00 | | $12,566.10 |
| Total Fees Previously Paid | | - | | - |
| Total Fee Offsets | | - | | - |
| Net Fee Due | | | | $12,566.10 |
(1) This Registration Statement covers 4,278,200 ordinary shares of NovoCure Limited (the “Registrant”) available for issuance pursuant to awards under the NovoCure Limited 2015 Omnibus Incentive Plan (the “2015 Plan”) and an additional 1,069,550 ordinary shares of the Registrant available for issuance pursuant to awards under the NovoCure Limited Employee Share Purchase Plan (“ESPP”).
(2) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement also covers any additional securities of the Registrant that become issuable under the Plan relating to adjustments for changes resulting from a stock dividend, stock split, recapitalization or any other similar transaction effected without the receipt of consideration.
(3) Completed pursuant to Rule 457(c) and Rule 457(h) of the Securities Act, based on the average of the high and low prices reported for the Registrant’s ordinary shares on the NASDAQ Global Select Market on February 20, 2024.
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NovoCure Limited Second Floor No. 4 The Forum Grenville Street St Helier Jersey JE2 4UF
| | D: +44 1534 514276 |
| james.fox@ogier.com |
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| | 22 February 2024 |
Dear Sirs
NovoCure Limited (the Company) - Registration of Shares under the US Securities Act of 1933, as amended (the Securities Act) – share option plans
1.Background
1.1 In connection with the Registration Statement on Form S-8 (as amended, the Registration Statement) filed by the Company today with the Securities and Exchange Commission pursuant to the Securities Act, you have asked us to furnish our opinion as to the legality of the securities being registered under the Registration Statement. The Registration Statement relates to the registration by the Company under the Securities Act of an aggregate of:
(a)an additional 1,069,550 ordinary shares, no par value, authorised for issuance pursuant to the NovoCure Limited Employee Share Purchase Plan (the ESPP); and
(b)an additional 4,278,200 ordinary shares, no par value, authorised for issuance pursuant to awards under the NovoCure Limited 2015 Omnibus Incentive Plan (the 2015 Plan and together with the ESSP, the Plans),
the ordinary shares under the Plans being collectively referred to herein as the Shares.
1.2 In this opinion, "non-assessable" means, in relation to a Share, that the consideration for which the Company agreed to issue that Share has been paid in full to the Company, so that no further sum is payable to the Company by any holder of that Share in respect of the purchase price of that Share.
2.Documents examined
2.1 For the purposes of giving this opinion, we have examined and relied upon such documents as we deem appropriate, including the following documents:
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Ogier (Jersey) LLP 44 Esplanade St Helier Jersey JE4 9WG
T +44 1534 514000 F +44 1534 514444 ogier.com | Partners Raulin Amy James Campbell Richard Daggett Simon Dinning Katrina Edge Sally Edwards Damian Evans Simon Felton | James Fox Josephine Howe Jonathan Hughes Niamh Lalor Edward Mackereth Bruce MacNeil Steven Meiklejohn Oliver Passmore | Nathan Powell Sophie Reguengo Daniel Richards Nicholas Williams
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| Registered as a limited liability partnership in Jersey. Registered number 99. | JERLAW-47754700-1 |
(a)the Registration Statement;
(b)the Company’s memorandum and articles of association in force as at the date hereof (the M&A);
(c)the ESPP;
(d)the 2015 Plan;
(e)a true copy of the board minutes of a meeting of the board of directors of the Company held on 31 August 2015 at which the directors (among other things) approved or ratified the Plans and the allotment of the Shares thereunder;
(f)an extract of the proposed resolutions to be adopted at a meeting of the board of directors of the Company held on 21 February 2024, which include (without limitation) the directors approving and/or ratifying the preparation and filing of the Registration Statement;
(g)the Company’s certificate of incorporation;
(h)a consent to issue shares dated 1 January 2017 issued to the Company by the Jersey Financial Services Commission (the Commission) under the Control of Borrowing (Jersey) Order 1958, as amended (COBO) (the Share COBO Consent);
(i)a consent to issue share options pursuant to the Plans dated 23 February 2016 issued to the Company by the Commission under COBO (together with the Share COBO Consent, the COBO Consent);
(j)a consent to circulate a prospectus dated 2 October 2015 issued to the Company by the Commission under the Companies (General Provisions) (Jersey) Order 2002, as amended (the GPO) (the 2015 GPO Consent);
(k)a consent to circulate a prospectus dated 23 February 2016 issued to the Company by the Commission under the GPO (together with the 2015 GPO Consent, the GPO Consent);
(l)a certificate signed by a director of the Company dated on or around the date of this opinion; and
(m)a certificate signed by the company secretary of the Company dated on or around the date of this opinion.
2.2 For the purposes of this opinion, we have, with the Company's consent, relied upon certificates and other assurances of directors and other officers of the Company as to matters of fact, without having independently verified such factual matters.
3.Assumptions
For the purposes of this opinion, we have assumed:
(a)the authenticity, accuracy, completeness and conformity to original documents of all copy documents, memoranda, extracts and certificates of officers of the Company examined by us;
(b)that the signatures on all documents examined by us are the genuine signatures of persons authorised to execute or certify such documents;
(c)the accuracy and completeness in every respect of all certificates of directors or other officers of the Company given to us for the purposes of giving this Opinion and that (where relevant) such certificates would be accurate if they have been given as of the date hereof;
(d)that the Company has received in full the consideration for which the Company agreed to issue the Shares;
(e)that in approving the Company's entry into the Plans and the transactions contemplated by it, the directors of the Company were acting in the best interests of the Company and for a proper purpose;
(f)that words and phrases used in the Registration Statement have the same meaning and effect as they would if the Registration Statement were governed by Jersey law;
(g)that no other event occurs after the date hereof which would affect the opinions herein stated;
(h)that there is no provision of the law or regulation of any jurisdiction other than Jersey which would have any adverse implication in relation to the opinion expressed hereunder; and
(i)there has been no amendment to the COBO Consent or the GPO Consent.
4.Opinion
As a matter of Jersey law, and on the basis of and subject to the foregoing and the qualifications below, we are of the following opinion:
(a)the Shares, when issued pursuant to the terms of the Plans, will be validly issued, fully paid and non-assessable.
5.Qualifications
This Opinion is subject to the following qualification:
(a)the obligations of the Company under, or in respect of, the Shares will be subject to any law from time to time in force relating to bankruptcy, insolvency, liquidation, reorganisation or administration or any other law or legal procedure affecting generally the enforcement of creditors' rights.
6.Governing Law, Limitations, Benefit and Disclosure
6.1 This Opinion shall be governed by and construed in accordance with the laws of Jersey and is limited to the matters expressly stated herein.
6.2 This Opinion is limited to matters of Jersey law and practice as at the date hereof and we have made no investigation and express no opinion with respect to the law or practice of any other jurisdiction.
6.3 We assume no obligation to advise you (to any other person who may rely on this Opinion in accordance with this paragraph), or undertake any investigations, as to any legal developments or factual matters arising after the date of the Opinion that might affect the opinions expressed herein.
6.4 We consent to the filing of a copy of this opinion as Exhibit 5.1 to the Registration Statement and to reference to us being made in the Registration Statement. In giving this consent, we do not admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations promulgated by the US Securities and Exchange Commission under the Securities Act.
Yours faithfully
Ogier (Jersey) LLP
Exhibit 23.2
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the NovoCure Limited Employee Share Purchase Plan and the NovoCure Limited 2015 Omnibus Incentive Plan of NovoCure Limited of our reports dated February 22, 2024, with respect to the consolidated financial statements of NovoCure Limited and the effectiveness of internal control over financial reporting of NovoCure Limited included in its Annual Report (Form 10-K) for the year ended December 31, 2023, filed with the Securities and Exchange Commission.
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| /s/ KOST FORER GABBAY AND KASIERER | | |
| A member of Ernst & Young Global | | |
| Tel Aviv, Israel | /s/ | |
| February 22, 2024 | | |
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