Current Report Filing (8-k)
04 June 2019 - 11:11PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 3, 2019
Inovio Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-14888
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33-0969592
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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660 W. Germantown Pike, Suite 110
Plymouth Meeting, PA 19462
(Address of principal executive offices, including zip code)
(267)
440-4200
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, $0.001 par value
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INO
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The Nasdaq Stock Market
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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
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
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 8.01 Other Events.
In August 2014, Dr. J. Joseph Kim, Chief Executive Officer of Inovio Pharmaceuticals, Inc. (the
Registrant
), entered
into a margin loan facility with a broker, in the amount of approximately $5 million, primarily for the purposes of (i) funding Dr. Kims ability to purchase shares of common stock of the Registrant on the open market from time
to time and (ii) funding the exercise of stock option awards and warrants held by Dr. Kim from time to time. The margin loan was initially collateralized by 1.0 million shares of the Registrants common stock held by
Dr. Kim, which amount increased over time to approximately 4.2 million shares. Recently, due to declines in the share price of the Registrants common stock on the Nasdaq Global Select Market, the broker called the margin loan and
commenced selling the shares pledged as collateral in order to satisfy Dr. Kims obligations. A total of 2,229,553 shares were sold between May 21, 2019 and June 3, 2019, as reported on Form 4s filed by Dr. Kim with the
Securities and Exchange Commission. The proceeds of such sales were used to fully satisfy the margin loan, and the remainder of the pledged shares will be released back to Dr. Kim. Therefore, Dr. Kim will hold his shares of the
Registrants stock free and clear of this and any other pledge, and no additional share sales by or on behalf of Dr. Kim to meet the margin loan requirements are anticipated.
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.
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INOVIO PHARMACEUTICALS, INC.
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Date: June 4, 2019
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By:
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/s/ Peter Kies
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Peter Kies
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Chief Financial Officer
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Inovio Pharmaceuticals (NASDAQ:INO)
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