As filed with the Securities and Exchange Commission on October 6, 2021.

Registration No. 333-255185 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 
Washington, D.C. 20549
  FORM S-3  
  Amendment No. 2  
  REGISTRATION STATEMENT  
  UNDER  
  THE SECURITIES ACT OF 1933  
  FORTRESS BIOTECH, INC.  
  (Exact Name of Registrant as Specified in Its Charter)  
Delaware 2834 47-3828760
(State or Other Jurisdiction of (Primary Standard Industrial (I.R.S. Employer
Incorporation or Organization) Classification Code Number) Identification Number)
2 Gansevoort Street, 9th Floor
New York, New York 10014
 (781) 652-4500
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)
Lindsay A. Rosenwald, M.D.
Executive Chairman,
Chief Executive Officer and President
2 Gansevoort Street, 9th Floor
New York, New York 10014
(781) 652-4500
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Mark McElreath
Alston & Bird LLP
90 Park Avenue
New York, NY 10016
(212) 210-9400

Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ¨

If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. x

If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ¨

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ¨ Accelerated filer ¨
   
Non-accelerated filer x Smaller reporting company x
   
  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 7(a)(2)(B) of Securities Act.

 

 

CALCULATION OF REGISTRATION FEE

 

Title of Each Class of Securities to be Registered  Amount to be Registered(1)   Proposed Maximum Offering Price per Unit(2)  

Proposed Maximum

Offering Aggregate Offering Price(2)

   Amount of Registration
Fee
 
Common Stock, par value $0.001 per share   600,000   $4.24   $2,544,000   $277.55(3) 

 

(1)The Registrant is hereby registering for resale from time to time by the selling stockholders named herein of up to 600,000 shares of common stock, all of which were initially granted in connection with a Dividend Payment and Exchange Agreement, dated as of March 31, 2021, executed by Fortress Biotech Inc. in favor of the holders of Journey Medical Corporation’s 8% Cumulative Convertible Class A Preferred Stock. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, or the Securities Act, this registration statement also covers such additional number of shares of common stock that may be issued as a result of stock splits, stock dividends, anti-dilution issuances, or similar transactions.
(2)Estimated solely for purposes of determining the registration fee pursuant to Rule 457(c) under the Securities Act. The proposed maximum offering price per share and proposed maximum aggregate offering price shown are based on the average of the high and low sale prices of the Registrant’s common stock on April 7, 2021 as reported on The Nasdaq Capital Market.
(3)Previously Paid.

 

The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

 

 

 

 

Explanatory Note: This Amendment to the Registration Statement 333-255185, is being undertaken for the sole purpose of adding additional selling stockholders to the registration statement and prospectus.

 

 

THE SELLING STOCKHOLDERS

 

We have prepared this prospectus to allow the selling stockholders or their pledgees, donees, transferees or other successors in interest, to sell or otherwise dispose of, from time to time, Securities issuable as dividends pursuant to the terms of the Journey Preferred Stock and the Dividend Agreement.

 

On March 31, 2021, we entered the Dividend Agreement for the benefit of the holders of Journey Preferred Stock, pursuant to which we agreed to pay cumulative dividends on the Journey Preferred Stock in Securities. In connection with certain registration rights that we granted to the selling stockholders pursuant to the Registration Rights Agreement, we filed with the SEC a registration statement on Form S-3, of which this prospectus forms a part, with respect to the resale or other disposition of the Securities offered by this prospectus from time to time on Nasdaq, in privately negotiated transactions or otherwise. We have agreed to prepare and file amendments and supplements to the registration statement to the extent necessary to keep the registration statement effective for the period of time required under our agreement with the selling stockholders.

 

The following table sets forth the names of additional selling stockholders since the date of the last amendment to the registration statement. Should there be additional sales of Journey Preferred Stock, we will file further post-effective amendments to the registration statement to add such purchasers as additional selling stockholders. The aggregate number of Securities that the selling stockholders may offer and sell pursuant to this prospectus is as yet undetermined. We will file a post-effective amendments to the registration statement to add such aggregate number of Securities each selling stockholder may offer and sell as such dividends are paid. The selling stockholders may sell some, all or none of the Securities. We do not know how long the selling stockholders will hold the Securities before selling them, and we currently have no agreements, arrangements or understandings with any selling stockholder regarding the sale or other disposition of any of the Securities. The Securities may be offered and sold from time to time by the selling stockholders pursuant to this prospectus.

 

Investor Information:
Selling Stockholders(1)   Shares of Common Stock  
Alan J Young Profit Sharing Plan     320  
Alejandro J Messmacher     480  
Alpesh Shah & Hina Shah     640  
Andreas Ammelounx Living Trust     640  
Applebaum Family LTD Partnership     224  
Barry Lynn Coffee & Leslie Louise Coffee     160  
Bishop Family Properties Ltd     640  
Brian M Rubel     192  
Brian Sundberg     1,602  
Claude Roussel     320  
Daniel Phillips & Linda Horne     224  
Decompression LLC     320  
Douglas Brody     160  
Dyke Rogers     1,281  
DZB LLC     6,408  
Edmond P Brady & Kathleen M Brady     320  
Eliezer Lubitch     640  
Eric G Helt     160  
Ernest J Mattei & Michele M Mattei     320  
Fermo Jaeckle     320  
Fred Harris     160  
George Gomez Quintero     256  
George J Strickler     320  
Giuseppe Biasco     320  
Glenn E Phillips     160  
Gregory G Konsor     736  
Gregory J Dovolis     320  
Guillermo Bodnar     128  
Holroyd Family Revocable Trust     320  
James Diemert     320  
James Robert Fowler     320  

 

 

 

 

Jeffrey K Warmann     640  
Jeffrey Tunis     640  
Joann Marie Fiore Borlack Alan Borlack JTWROS     480  
Joann Zlotkin     640  
Jodi A Richard     320  
John D Merriam     160  
John E. Bishop     320  
John F Herbert & Jane E Herbert Revocable Trust     640  
John M Gasidlo & Elizabeth Shimei     480  
John O Dunkin     961  
John Paul Todd     640  
John T Kennedy     320  
John Tobias     320  
KBA Holdings LLC     961  
Keith Family Trust     801  
Keith R Schroeder     480  
Kevin Paige     320  
Kevin Paul McCarthy Revocable Trust     320  
Kevin Seaman     160  
Kevin Stein     640  
Kiat Tze Goh     1,281  
Lucy Lu     320  
Marc L Goldstein     160  
Mark Harrison     160  
Marlin Capital Resources LLC     1,922  
Matthew Budine     320  
Michael J Cowell     1,281  
Michael K Robson & Ida Robson     224  
Morris A Arnston Family Trust     640  
MSB Family Trust     1,602  
Nathaniel Marmur     640  
Neel B Ackerman & Martha N Ackerman     3,204  
Ouachita Capital LLC     1,281  
Paule E Hoyle     320  
Perry Sutaria     320  
Praful Desai     320  
Raj M Sutaria     320  
Ramachandra C Reddy     320  
Randy L Burns     640  
Raymond Joseph Tesi     3,204  
Richard K Hursey     320  
Richard S. Simms     320  
Robert C Ackerman     640  
Robert D Priday     640  
Robert J Calabro     640  
Robert Singer     160  
Roberto Mendez & Eliana Cardenas JTWROS     269  
Ronald Finestone     160  
Rong Zheng     160  
Ruchir Gupta     160  
S 2 Yachts, Inc.     6,408  
S Alan Lisenby Sr. & Patricia Lisenby     320  
Scott A Brody     160  
Sharon M Crowder DDS     640  
Shiloh Produce     3,204  
Steve R Cruse     961  
Steven A Waters & Jenger H Waters     640  
Steven Zaloga     640  
Stormy Adams & Zachary L Adams     961  
Tanju Obut & Tina S Obut     640  

 

 

 

 

The David G Franz Family Trust     961  
THE KEVIN R MACK REVOCABLE TRUST     320  
The Temkin Family Legacy Trust No.2     224  
Thomas Gemellaro     160  
Tim Montgomery     961  
Venuti Family Trust     640  
Vernon L Simpson Revocable Living Trust 2     640  
VGNT Holdings LLC     320  
Wade D Hutchings & Galadriel Hutchings     320  
William Silver     1,602  
Wing Real Estate LLC     640  
Winterset Associates, GP     640  
Wuethrich Investments, LLC     320  
James J Peters     640  
David Porter & Linda Porter     640  
John Roth     640  
J & C Resources LLC     1,281  
Rivki Davidowitz Rosenwald     3,844  
Ian Milne     640  
Christopher Ulcak     160  
Peter Anderson     480  
Dov Klein     480  
Gerald A Tomsic 1995 Trust     640  
The Marianne Higgins Revoc Trust     320  
Tom McBride     160  
Mark Greenwald     160  
Robert Forst     640  
Suresh A. Patel     480  
KT Investments II LLC     320  
Evergreen Capital Management LLC     1,602  
Mr. and Mrs. Samuel Oschin Foundation     3,204  
John Wirtz III     224  
The Bruce Jeffrey Schwartz & Kathryn Diane Goller LIV Trust     160  
Guy & Sue Harper     224  
Ali Khan     640  
Devesh Pathak     320  
DESIIPO21     384  
John & Andrea Foote     256  
Jordan Family LLC     542  
R. Douglas Armstrong     542  
Keith Family Trust (2)     135  
Lindsay A. Rosenwald, M.D.     8,133  
Peter Anderson (2)     189  
DAK Investments (US) Corp.     5,422  
Bruce C. Conway     542  
Gary Baddeley     271  
Harris Lydon     271  
Josiah T. Austin     1,084  
Laurence Lytton     1,084  
Peter J. Crowley     1,626  
YJP International Limited     1,626  
Klaus Kretschmer     813  
RRSJ Associates     1,355  
Malcolm I. Hoenlein     406  
Eldgarn Family Trust     1,042  
Total     116,866  
 

 

(1)The principal business address and address for notice to the selling stockholders will be the address set forth in our books and records.

 

 

 

 

Relationship with the Selling Stockholders

 

Dividend Payment and Exchange Agreement

 

On March 31, 2021, we executed the Dividend Agreement for the benefit of the holders of the Journey Preferred Stock, pursuant to which we agreed to pay cumulative dividends on the Journey Preferred Stock in Securities.

 

Registration Rights Agreement

 

Pursuant to the Registration Rights Agreement with the selling stockholders, we agreed to prepare and file with the SEC the registration statement, of which this prospectus forms a part, that permits the resale of the Securities and, subject to certain exceptions, to use reasonable best efforts to keep such registration statement effective under the Securities Act until (i) all Securities registered by the registration statement have been sold, transferred or otherwise disposed of by the selling stockholders, (ii) the Securities are sold, transferred or otherwise disposed of pursuant to Rule 144 of the Securities Act, or (iii) the Securities have become eligible for sale by the selling stockholders pursuant to Rule 144 without any restriction on the volume or manner of such sale and all restrictive legends and stop transfer instructions have been removed with respect to all book entries representing the Securities.

 

We have also agreed, among other things, to indemnify the selling stockholders and their officers, directors, members, employees and agents, successors and assigns, and any person who controls either of the selling stockholders (within the meaning of the Securities Act or the Exchange Act) from all losses and liabilities arising out of or relating to any untrue statement or alleged untrue statement or omission or alleged omission of material fact relating to the Securities in this prospectus or the registration statement of which this prospectus forms a part.

 

Except as described above, neither the selling stockholders nor any persons having control over such selling stockholders have held any position or office with us or our affiliates within the last three years or has had a material relationship with us or any of our predecessors or affiliates within the past three years, other than as a result of the ownership of shares of our common stock or other securities.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  FORTRESS BIOTECH INC.  
     
October 6, 2021 By: /s/ Lindsay A. Rosenwald, M.D.  
    Lindsay A. Rosenwald, M.D.  
    Chairman, President and Chief Executive Officer (Principal Executive Officer)  

 

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities indicated as of July 23, 2021.

 

Signature

Title

Date

     

/s/ Lindsay A. Rosenwald, M.D.

Lindsay A. Rosenwald, M.D.

 

Chairman of the Board of Directors,
President and Chief Executive Officer
(Principal Executive Officer)
October 6, 2021
     

/s/ Robyn M. Hunter

Robyn M. Hunter

Chief Financial Officer
(Principal Financial Officer)
October 6, 2021
     
* Vice Chairman of the Board of Directors October 6, 2021

Eric K. Rowinsky, M.D.

 
     
* Executive Vice Chairman, Strategic October 6, 2021

Michael S. Weiss

Development and Director
     
* Director October 6, 2021

Jimmie Harvey, Jr., M.D.

     
* Director October 6, 2021
Malcolm Hoenlein
     
* Director October 6, 2021

Dov Klein

     
* Director October 6, 2021

J. Jay Lobell

 
     
* Director October 6, 2021

Kevin L. Lorenz, J.D.

 
     
  */s/ Lindsay A. Rosenwald, M.D.    
Attorney-in-fact