Filed pursuant to Rule 424(b)(3)
Registration No. 333-252589
PROSPECTUS SUPPLEMENT NO. 6
(to Prospectus dated February 9, 2021)
Vincerx Pharma, Inc.
Up to 6,112,884 Shares of Common Stock
Up to 6,851,883 Shares of Common Stock Issuable Upon Exercise of Warrants
Up to 3,570,000 Private Warrants
This prospectus supplement supplements the prospectus dated February 9, 2021 (the Prospectus), which forms a part of our registration statement on Form S-1 (No. 333-252589). This prospectus supplement is being filed to update and supplement the information in the Prospectus with the information contained in our current report on Form 8-K, filed with the Securities and Exchange Commission on May 14, 2021 (the Current Report). Accordingly, we have attached the Current Report to this prospectus supplement.
The Prospectus and this prospectus supplement relate to the issuance by us of up to an aggregate of 6,851,883 shares of our common stock, $0.0001 par value per share, which consists of: (i) up to 3,570,000 shares of common stock that are issuable upon the exercise of 3,570,000 private warrants originally issued in a private placement in connection with the initial public offering of LifeSci Acquisition Corp., or LSAC; and (ii) up to 3,281,883 shares of common stock that are issuable upon the exercise of 6,563,767 public warrants originally issued in the initial public offering of LSAC.
The Prospectus and this prospectus supplement also relate to the offer and sale from time to time by the selling securityholders named in the Prospectus or their donees, pledgees, transferees or other successors in interest, of: (i) up to 9,682,884 shares of common stock (including up to 3,570,000 shares of common stock that may be issued upon exercise of the private warrants and 2,034,130 shares of common stock that may become issuable as Earnout Shares (as defined in the Prospectus)); and (ii) up to 3,570,000 private warrants.
Our common stock is listed on The Nasdaq Capital Market under the symbol VINC. On May 13, 2021, the closing price of our common stock was $16.34.
This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.
See the section entitled Risk Factors beginning on page 9 of the Prospectus to read about factors you should consider before buying our securities.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is May 14, 2021.
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): May 13, 2021
Vincerx Pharma, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-39244 | 83-3197402 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
260 Sheridan Avenue, Suite 400 | 94306 | |||
Palo Alto, CA | ||||
(Address of principal executive offices) | (Zip Code) |
(650) 800-6676
(Registrants telephone number, including area code)
N/A
(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:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading symbol(s) |
Name of each exchange on which registered | ||
Common Stock, $0.0001 par value per share | VINC | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b2 of this chapter).
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 13(a) of the Exchange Act. ☐
Item 2.02 | Result of Operations and Financial Condition |
The information set forth under Item 4.02 is incorporated into this Item 2.02 by reference.
Item 4.02 | Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. |
On April 12, 2021, the Staff of the U.S. Securities and Exchange Commission (the SEC) issued the Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (SPACs) (the Staff Statement). The Staff Statement clarified guidance for all SPAC-related companies regarding the accounting and reporting for their warrants that could result in the warrants issued by SPACs being classified as a liability measured at fair value, with non-cash fair value adjustments recorded in the statement of operations for each reporting period.
Vincerx Pharma, Inc. (the Company) previously classified its private warrants and public warrants (collectively, the warrants) as equity, consistent with market practice among SPACs, including the Companys predecessor, LifeSci Acquisition Corp. (LSAC), prior to the business combination with VNRX Corp. (f/k/a Vincera Pharma, Inc.). The Company reviewed and discussed the accounting treatment of its warrants and the related offering costs with WithumSmith+Brown, PC (Withum), its independent registered public accounting firm, its financial advisors and the audit committee of its board of directors and evaluated the applicability and potential impact of the Staff Statement on the Companys consolidated financial statements.
Following this review and evaluation, and after consulting with management, the Companys board of directors, upon the recommendation of the audit committee, concluded that, in light of the Staff Statement, (i) certain of the Companys private warrants should be accounted for as liabilities measured at fair value, with non-cash fair value adjustments recorded in the operating statement for each reporting period, (ii) the related warrant offering costs should now be expensed and (iii) the Companys audited consolidated financial statements for the year ended December 31, 2020 (the Affected Period) should no longer be relied upon and should be restated due to the reclassification of these private warrants required for alignment with the Staff Statement. Further, any previously furnished or filed reports, earnings releases, guidance, investor presentations or similar communications regarding the restatement information for the Affected Period should also no longer be relied upon.
Accordingly, the Company is filing an Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 22, 2021 to restate its consolidated financial statements for the year ended December 31, 2020 to reflect the reclassification of these private warrants for the Affected Period. This restatement will result in non-cash, non-operating financial statement corrections for the Affected Period and will have no impact on the Companys cash position, operating expenses or cash flows or its ongoing operations or future plans.
The audit committee and management have discussed the matters disclosed in this Item 4.02(a) with Withum, the Companys independent registered public accounting firm.
Item 5.07 | Submission of Matters to a Vote of Security Holders. |
The Company held its 2021 Annual Meeting of Stockholders on May 13, 2021 (the Annual Meeting). The following actions were taken at the Annual Meeting:
1. | The following director nominees were elected to serve as a director until the Companys 2024 annual meeting of stockholders or until their successors are duly elected and qualified. |
For | Against | Broker Non-Votes | ||||
Dr. Raquel E. Izumi | 10,180,264 | 525 | 1,092,997 | |||
Laura I. Bushnell | 10,180,774 | 15 | 1,092,997 | |||
Dr. Ruth E. Stevens | 10,180,774 | 15 | 1,092,997 |
2. | The Companys 2021 Employee Stock Purchase Plan was approved. |
For |
Against |
Abstain |
Broker Non-Votes | |||
10,160,518 |
19,596 |
675 |
1,092,997 |
3. | The appointment of Withum as independent registered public accounting firm for the year ending December 31, 2021 was ratified. |
For |
Against |
Abstain | ||
11,250,083 |
23,699 |
4 |
SIGNATURE
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.
Dated: May 13, 2021
Vincerx Pharma, Inc. | ||
By: | /s/ Raquel E. Izumi | |
Raquel E. Izumi | ||
President and Chief Operations Officer |