(Exact name of registrant as specified in its charter)
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Delaware
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68-0533453
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer Identification No.)
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12988 Valley View Road
Eden Prairie, Minnesota
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55344 |
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(Address of Principal Executive Offices)
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(Zip Code)
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CHF Solutions, Inc. 2017 Equity Incentive Plan
CHF Solutions, Inc. 2013 Non-Employee Directors’ Equity Incentive Plan
CHF Solutions, Inc. New-Hire Equity Incentive Plan
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(Full title of the plan)
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Nestor Jaramillo
Chief Executive Officer
CHF Solutions, Inc.
12988 Valley View Road
Eden Prairie, MN 55344
(952) 345-4200
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(Name, address and telephone number, including area code, of agent for service)
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Copies to:
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Phillip D. Torrence, Esq.
Honigman LLP
650 Trade Center Way, Ste 200
Kalamazoo, MI 49002
(269) 337-7700
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Thomas P. Lynch
Chief Legal and Compliance Officer
CHF Solutions, Inc.
12988 Valley View Road
Eden Prairie, MN 55344
(952) 345-4200
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Title of securities to be registered
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Amount to be
Registered (1)
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Proposed maximum
offering price
per share (2)
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Proposed maximum
aggregate offering
price (2)
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Amount of
registration
fee
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Common Stock, par value $0.0001 per share
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793,380
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$6.36
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$5,045,896.80
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$550.51
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(1)
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Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities
Act”), this Registration Statement shall also cover any additional shares of the Registrant’s common stock (“Common Stock”) that become issuable under the Plans (as defined
below) by reason of any stock dividend, stock split, recapitalization or any other similar transaction without receipt of consideration that results in an increase in the number of shares of the Registrant’s outstanding Common Stock.
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(2)
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Estimated solely for the purpose of calculating the registration fee pursuant to paragraphs (c) and (h) of Rule 457 under the
Securities Act. The offering price per share and aggregate offering price are based upon the average of the high and low prices of the Common Stock as reported on the NASDAQ Capital Market on March 23, 2021, a date within five business days
prior to the date of filing of this Registration Statement, for: (i) shares reserved for grant pursuant to the Registrant’s 2017 Equity Incentive Plan (as amended, the “2017 EIP”);
(ii) shares reserved for grant pursuant to the Registrant’s 2013 Non-Employee Directors’ Equity Incentive Plan (the “Directors’ EIP”); and (iii) shares reserved for grant pursuant
to the Registrant’s New-Hire Equity Incentive Plan (as amended, the “New-Hire Plan”; and collectively, with the 2017 EIP and the Directors’ EIP, the “Plans”).
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Securities
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Number of Shares
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Offering Price
Per Share
|
Aggregate Offering Price
|
||||||||||||||||||
Shares reserved for grant under the 2017 EIP
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693,398 (3)
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$6.36
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$4,410,011.28
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Shares reserved for grant under the Directors’ EIP
|
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87,982 (4)
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$6.36
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$559,565.52
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Shares reserved for grant under the New-Hire Plan
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12,000 (5)
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$6.36
|
$76,320
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Proposed Maximum Offering Price
|
$5,045,896.80
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(3)
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Consists of shares that were automatically added to the shares authorized for issuance under the 2017 EIP on January 1, 2021 pursuant to an
“evergreen” provision contained in the 2017 EIP. Pursuant to the 2017 EIP, the share reserve will automatically increase on January 1st of each year, for a period of not more than ten years, commencing on January 1, 2018 and ending on (and
including) January 1, 2020, to an amount equal to thirteen percent (13%) of the fully diluted shares outstanding on December 31st of the preceding calendar year and commencing on January 1, 2021 and on January 1st of each year thereafter and
ending on (and including) January 1, 2027, to an amount equal to seventeen percent (17%) of the fully diluted as of December 31st of the preceding calendar year; provided that the Registrant’s Board of Directors (the “Board”) may act prior to January 1st of a given year to provide that there will be no January 1st increase in the share reserve for such year or that the increase in the share reserve
for such year will be a lesser number of shares than would otherwise occur.
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(4)
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Consists of shares that were automatically added to the shares authorized for issuance under the Directors’ EIP on January 1, 2021 pursuant to an
“evergreen” provision contained in the Directors’ EIP. Pursuant to the Directors’ EIP, the share reserve will automatically increase on January 1st of each year, for a period of not more than ten years, commencing on January 1, 2014 and
ending on (and including) January 1, 2023, by an amount equal to two percent (2%) of the fully diluted shares outstanding on December 31st of the preceding calendar year; provided that the Board may act prior to January 1st of a given year to
provide that there will be no January 1st increase in the share reserve for such year or that the increase in the share reserve for such year will be a lesser number of shares than would otherwise occur.
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(5)
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Consists of shares reserved for grant under the New-Hire Plan pursuant to an Eighth Amendment to the New-Hire Plan that was approved by the Board on
February 17, 2021.
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Incorporated By Reference
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||||||
Exhibit
Number |
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Exhibit
Description |
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Form
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File
Number |
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Date of First
Filing |
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Exhibit
Number |
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Filed
Herewith |
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4.1
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10
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001-35312
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February 1, 2012
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3.1
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4.2
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8-K
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001-35312
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January 13, 2017
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3.1
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4.3
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8-K
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001-35312
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May 23, 2017
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3.1
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||||||||
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4.4
|
8-K
|
001-35312
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October 12, 2017
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3.1
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|||||||||
4.5
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8-K
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001-35312
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January 2, 2019
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3.1
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4.6
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8-K/A
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001-35312
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October 16, 2020
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3.1
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4.7
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8-K
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001-35312
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May 23, 2017
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3.2
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4.8
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8-K
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001-35312
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June 14, 2013
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3.1
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4.9
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S-1/A
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333-221010
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November 17, 2017
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3.7
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4.10
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8-K
|
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001-35312
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August 8, 2016
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4.1
|
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Incorporated By Reference
|
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||||||
Exhibit
Number |
|
Exhibit
Description |
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Form
|
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File
Number |
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Date of First
Filing |
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Exhibit
Number |
|
Filed
Herewith |
5.1
|
X
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|||||||||||||
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23.1
|
X
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||||||||||||||
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23.2
|
Included in Exhibit 5.1
|
||||||||||||
24
|
X
|
|||||||||||||
99.1
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14A
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001-35312
|
|
April 5, 2013
|
App. A
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||||||
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||||
99.2
|
|
|
10-Q
|
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001-35312
|
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August 8, 2013
|
10.1
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|||||
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99.3
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|
|
10-Q
|
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001-35312
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|
November 12, 2013
|
10.1
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|||||
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99.4
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S-8
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333-202904
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March 20, 2015
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99.12
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|||||
99.5
|
S-8
|
333-210215
|
March 15, 2016
|
99.13
|
||||||||||
99.6
|
8-K
|
001-35312
|
May 30, 2017
|
10.4
|
||||||||||
99.7
|
8-K
|
001-35312
|
January 18, 2018
|
10.1
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||||||||||
99.8
|
10-Q
|
001-35312
|
August 8, 2019
|
10.2
|
||||||||||
99.9
|
8-K
|
001-35312
|
December 6, 2019
|
10.1
|
||||||||||
99.10
|
8-K/A
|
001-35312
|
February 25, 2021
|
10.1
|
||||||||||
99.11
|
8-K
|
001-35312
|
May 30, 2017
|
10.1
|
||||||||||
99.12
|
14A
|
001-35312
|
September 11, 2020
|
App. A
|
||||||||||
† |
Indicates management compensatory plan, contract or arrangement.
|
(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 percent 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;
|
(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.
|
CHF SOLUTIONS, INC.
|
||
By:
|
/s/ Nestor Jaramillo
|
|
Name:
|
Nestor Jaramillo
|
|
Title:
|
President and Chief Executive Officer
|
SIGNATURE
|
TITLE
|
DATE
|
/s/ Nestor Jaramillo
|
President and Chief Executive Officer
|
March 25, 2021
|
Nestor Jaramillo
|
(principal executive officer)
|
|
/s/ Claudia Drayton
|
Chief Financial Officer
|
March 25, 2021
|
Claudia Drayton
|
(principal financial and accounting officer)
|
|
/s/ Steve Brandt
|
Director
|
March 25, 2021
|
Steve Brandt
|
||
/s/ Maria Rosa Costanzo
|
Director
|
March 25, 2021
|
Maria Rosa Costanzo
|
||
/s/ John L. Erb
|
Chairman of the Board
|
March 25, 2021
|
John L. Erb
|
||
/s/ Jon W. Salveson
|
Director
|
March 25, 2021
|
Jon W. Salveson
|
||
/s/ Gregory D. Waller
|
Director
|
March 25, 2021
|
Gregory D. Waller
|
||
/s/ Warren S. Watson
|
Director
|
March 25, 2021
|
Warren S. Watson
|
||
HONIGMAN
Honigman LLP
Attorneys and Counselors
|
(269) 337-7700
Fax: (269) 337-7701
|
Very truly yours,
|
|
/s/ Honigman LLP
|
Honigman LLP • 650 Trade Centre Way • Suite 200 • Kalamazoo, Michigan 49002-0402
|