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)

September 1, 2017

 

 

SAVARA INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-32157   84-1318182

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

900 South Capital of Texas Highway, Las Cimas IV, Suite 150

Austin, TX

(Address of principal executive offices, including zip code)

(512) 961-1891

(Registrant’s 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 (see General Instruction A.2. below):

 

  ☐ 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))

Indicate by check mark whether the registrant is an emerging growth company as defined in 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 3.02. Unregistered Sales of Equity Securities.

On September 1, 2017, Savara Inc. (“Savara”) and Serenova A/S (“Serenova”) entered into a settlement agreement with respect to a claim made by Savara related to Savara’s acquisition of Serendex, which closed on July 15, 2016. Under the settlement terms, Serenova shall make a cash settlement payment to Savara in connection with a pre-closing vendor liability. Additionally, within 90 days following the cash settlement payment to Savara, Savara has provided Serenova the right, but not the obligation, to purchase up to 650,000 shares of Savara common stock at a price per share equal to 90% of the volume weighted average price of Savara common stock for the five (5) trading days ending on the date that Serenova elects to purchase such shares. The sale of the shares to Serenova will be made pursuant to an exemption from the registration requirements of applicable U.S. securities laws as determined by Savara and, in connection with the purchase, Serenova shall make such investment representations that Savara deems necessary to comply with such securities exemption.

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: September 7, 2017      

SAVARA INC.

a Delaware corporation

    By:   /s/ Dave Lowrance
     

Dave Lowrance

Chief Financial Officer

Savara Inc. (AMEX:MSTX)
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