Attached files

file filename
EX-5.1 - EX-5.1 - Vericel Corpa59515exv5w1.htm
EX-99.1 - EX-99.1 - Vericel Corpa59515exv99w1.htm
EX-10.1 - EX-10.1 - Vericel Corpa59515exv10w1.htm
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 16, 2011
Aastrom Biosciences, Inc.
 
(Exact name of registrant as specified in its charter)
         
Michigan   000-22025   94-3096597
         
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)
     
24 Frank Lloyd Wright Drive, P.O. Box    
376, Ann Arbor, Michigan   48106
     
(Address of principal
executive offices)
  (Zip Code)
Registrant’s telephone number, including area code: (734) 418-4400
Not Applicable
 
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 1.01.   Entry into a Material Definitive Agreement.
     On June 16, 2011, Aastrom Biosciences, Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Agreement”) with McNicoll, Lewis & Vlak LLC, as sales agent (the “Agent”), to create an at-the-market equity program under which the Company from time to time may sell shares of its common stock, no par value per share, having an aggregate offering price of up to $20.3 million (the “Shares”) through the Agent.
     Subject to the terms and conditions of the Agreement, the Agent will use its commercially reasonable efforts to sell the Shares from time to time, based upon the Company’s instructions. The Company has provided the Agent with customary indemnification rights, and the Agent will be entitled to a commission at a fixed commission rate of up to 3.0% of the gross sales price per shares sold.
     Sales of the Shares, if any, under the Agreement may be made in transactions that are deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made by means of ordinary brokers’ transactions, including on the NASDAQ Capital Market, at market prices or as otherwise agreed with the Agent. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement.
     The Shares will be issued pursuant to the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333-170581). On November 12, 2010, the Company filed a base Prospectus and on June 16, 2011, filed a Prospectus Supplement relating to the offering with the Securities and Exchange Commission. This Report shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any such state.
     The Agreement is filed as Exhibit 10.1 to this Report. The description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement filed herewith as an exhibit to this Report.
     The opinion of the Company’s counsel regarding the validity of the Shares that will be issued pursuant to the Agreement is also filed herewith as Exhibit 5.1.
Item 7.01. Regulation FD Disclosure.
     On June 16, 2011, the Company issued a press release entitled “Aastrom Files At-the-Market Offering and New Shelf Registration Statement.” A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
     In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this report, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01.   Financial Statements and Exhibits.
(d) Exhibits.
         
  5.1    
Opinion of Dykema Gossett PLLC.
  10.1    
At Market Issuance Sales Agreement, dated June 16, 2011, by and among Aastrom Biosciences, Inc. and McNicoll, Lewis & Vlak LLC.
  99.1    
Press release dated June 16, 2011.

2


 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
Date: June 16, 2011  Aastrom Biosciences, Inc.
 
 
  By:   /s/ Timothy Mayleben    
    Name:   Timothy Mayleben   
    Title:   Chief Executive Officer and President   
 

3