UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
___________________________
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
_____________________________
SONOMA PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
| Delaware |
68-0423298 |
|
(State or other jurisdiction of
incorporation or organization) |
(I.R.S. Employer
Identification No.) |
| |
|
| 5445 Conestoga Court, Suite 150, Boulder, CO |
30189 |
| (Address of Principal Executive Offices) |
(Zip Code) |
| Sonoma Pharmaceuticals, Inc. 2016 Equity Incentive Plan |
| (Full title of the plan) |
| |
|
Amy Trombly
Chief Executive Officer
5445 Conestoga Court, Suite 150
Boulder, CO 80301 |
| (Name and address of agent for service) |
| |
| (800) 759-9305 |
|
(Telephone number, including area code, of agent
for service)
|
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 the definitions 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 ☒ |
Smaller reporting company ☒ |
| 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 the Securities Act. ☐
TABLE OF CONTENTS
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
| ITEM 1. |
PLAN INFORMATION. |
In accordance with the Instructional Note to Part
I of Form S-8 as promulgated by the Securities and Exchange Commission, the information specified by Part I of Form S-8 has been omitted
from this registration statement on Form S-8.
The documents containing the information specified
in Part I, Items 1 and 2, will be delivered to each of the employee participants in accordance with Form S-8 and Rule 428(b)(1) promulgated
under the Securities Act of 1933.
| ITEM 2. |
REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION. |
The Registrant will provide, without charge, to
each person to whom a copy of a Section 10(a) prospectus hereunder is delivered, upon the oral or written request of such person, a copy
of any document incorporated in this registration statement by reference. The Registrant will also make available without charge, upon
oral or written request, other documents required to be delivered pursuant to Rule 428(b). Requests for such information should be directed
to: Investor Relations, Sonoma Pharmaceuticals, Inc., 5445 Conestoga Court, Suite 150, Boulder, Colorado 80301, telephone (800) 759-9305.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
| ITEM 3. |
INCORPORATION OF DOCUMENTS BY REFERENCE. |
The following documents filed by the Registrant
with the Securities and Exchange Commission are hereby incorporated by reference in this Registration Statement:
| |
(a) |
The
Registrant’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed June 17, 2024 pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”); |
| |
|
|
| |
(b) |
The description of the Registrant’s common stock contained in the Registrant’s Registration Statement on Form 8-A filed December 15, 2006, pursuant to Section 12(g) of the Exchange Act, including any amendment or report filed for the purpose of updating such description. |
All documents subsequently filed by the Registrant
pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment
which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to
be incorporated in this registration statement by reference and to be a part hereof from the date of filing of such documents. Any statement
contained in this registration statement, in a supplement to this registration statement or in a document incorporated by reference herein,
shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein
or in any subsequently filed supplement to this registration statement or in any document that is subsequently incorporated by reference
herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this registration statement.
| ITEM 4. |
DESCRIPTION OF SECURITIES. |
Not applicable.
| ITEM 5. |
INTERESTS OF NAMED EXPERTS AND COUNSEL. |
No named expert or counsel was hired on a contingent
basis, will receive a direct or indirect interest in the Registrant, or was a promoter, underwriter, voting trustee, director, officer
or employee of the Registrant. No expert or counsel has any contingent-based agreement with the Registrant or any other interest in or
connection to the Registrant.
| ITEM 6. |
INDEMNIFICATION OF DIRECTORS AND OFFICERS. |
Section 145 of the Delaware General Corporation
Law provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses (including
attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection
with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such person
being or having been a director, officer, employee or agent to the registrant or having served at the request of the corporation, if such
person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation,
and, with respect to any criminal action or proceeding, had no reasonable cause to believe such person’s conduct was unlawful; provided
that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any matter
as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the adjudicating court
determines that such indemnification is proper under the circumstances. The Delaware General Corporation Law provides that Section 145
is not exclusive of other rights to which those seeking indemnification may be entitled under any by-laws, agreement, vote of stockholders
or disinterested directors or otherwise.
Section 102(b)(7) of the Delaware General
Corporation Law permits a corporation to provide in its certificate of incorporation that a director of the corporation will not be personally
liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (1) for
any breach of the director’s duty of loyalty to the corporation or its stockholders; (2) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law; (3) for unlawful payments of dividends or unlawful stock
repurchases, redemptions or other distributions; or (4) for any transaction from which the director derived an improper personal
benefit.
Article VIII of the Registrant’s Restated
Certificate of Incorporation, as amended (included as Exhibit 3.1(I) to the Registrant’s Annual Report on Form 10-K for the year
ended March 31, 2007, filed June 20, 2007) and Article 6 of the Registrant’s Amended and Restated Bylaws, as amended (included as
Exhibit 3.3 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, filed November 4, 2010)
provide for indemnification of the Registrant’s directors, officers, employees and other agents to the extent and under the circumstances
permitted by the Delaware General Corporation Law.
The Registrant has also entered into respective
indemnification agreements (the form of which is included as Exhibit 10.1 to the Registrant’s Registration Statement on Form S-1
(File No. 333-135584), as amended, declared effective on January 24, 2007) with its officers and directors that will require the Registrant
to, among other things, indemnify them against certain liabilities that may arise by reason of their status or service as directors or
officers to the fullest extent not prohibited by law.
| ITEM 7. |
EXEMPTION FROM REGISTRATION CLAIMED. |
Not applicable.
| |
(a) |
The undersigned registrant hereby undertakes: |
| |
(1) |
To file, during any period in which offers or sales are made, a post-effective amendment to this registration statement: |
| |
(iii) |
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. |
| |
(2) |
That, for the purpose of determining liability under the Securities Act of 1933, each such post-effective amendment shall be deemed a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
| |
(3) |
To remove from registration by means of a post-effective amendment any of the securities which remain unsold at the termination of the offering. |
| |
(b) |
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
| |
(h)(3) |
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boulder, State of Colorado,
on the 17th day of June, 2024.
| |
SONOMA PHARMACEUTICALS, INC. |
| |
|
| |
By: |
/s/ Amy Trombly |
| |
|
Amy Trombly |
| |
|
President and Chief Executive Officer |
| |
|
(Principal Executive Officer) |
| |
|
|
Pursuant to the requirements of the Securities Act of 1933, this registration
statement has been signed below by the following persons in the capacities and on the dates indicated.
| Name |
Title |
Date |
| |
|
|
| /s/ Amy Trombly |
President and Chief Executive Officer |
June 17, 2024 |
| Amy Trombly |
(Principal Executive Officer) |
|
| |
|
|
| /s/ Jerome Dvonch |
Chief Financial Officer |
June 17, 2024 |
| Jerome Dvonch |
(Principal Financial Officer and Principal Accounting Officer) |
|
| |
|
|
| /s/ Jay Edward Birnbaum |
Director |
June 17, 2024 |
| Jay Edward Birnbaum |
|
|
| |
|
|
| /s/ Philippe Weigerstorfer |
Director |
June 17, 2024 |
| Philippe Weigerstorfer |
|
|
| |
|
|
| /s/ Jerry McLaughlin |
Director |
June 17, 2024 |
| Jerry McLaughlin |
|
|
Exhibit 5.1
One
International Place, Suite 3900, Boston, Massachusetts 02110 ·
(617) 406-0335
June 17, 2024
Board of Directors
Sonoma Pharmaceuticals, Inc.
5445 Conestoga Court, Suite 150
Boulder, Colorado 80301
| |
Re: |
Sonoma Pharmaceuticals, Inc. — Registration Statement on Form S-8 |
Ladies and Gentlemen:
We are acting as special
counsel to Sonoma Pharmaceuticals, Inc., a Delaware corporation (the “Company”), in connection with its registration
statement on Form S-8 (the “Registration Statement”), filed on the date hereof with the Securities and Exchange
Commission under the Securities Act of 1933, as amended (the “Securities Act”), relating to the proposed offering of
up to an aggregate of 1,248,594 shares of the Company’s common stock, par value $0.0001 per share (the “Shares”),
which Shares are issuable pursuant to the Sonoma Pharmaceuticals, Inc. 2016 Equity Incentive Plan (the “Plan”). This
opinion letter is furnished to you at your request to enable you to fulfill the requirements of Item 601(b)(5) of Regulation S-K, 17 C.F.R.
§ 229.601(b)(5), in connection with the Registration Statement.
For purposes of this
opinion letter, we have examined copies of such agreements, instruments and documents as we have deemed an appropriate basis on which
to render the opinions hereinafter expressed. In our examination of the aforesaid documents, we have assumed the genuineness of all signatures,
the legal capacity of all natural persons, the accuracy and completeness of all documents submitted to us, the authenticity of all original
documents, and the conformity to the authentic original documents of all documents submitted to us as copies (including electronic copies).
We have also assumed that the Company has and will have sufficient authorized but unissued and unreserved shares of common stock available
for issuance as provided in the Registration Statement. As to all matters of fact, we have relied on the representations and statements
of fact made in the documents so reviewed, and we have not independently established the facts so relied on. This opinion letter is given,
and all statements herein are made, in the context of the foregoing.
This opinion letter is
based, as to matters of law, solely on the Delaware General Corporation Law, as amended. We express no opinion herein as to any other
statutes, rules, or regulations.
Based upon, subject to,
and limited by the foregoing, we are of the opinion that following (i) effectiveness of the Registration Statement, (ii) issuance
of the Shares pursuant to the terms of the Plan, and (iii) receipt by the Company of the consideration, if any, for the Shares specified
in the applicable resolutions of the Board of Directors of the Company or a duly authorized committee thereof, the Plan, and any underlying
award agreements or letters, the Shares will be validly issued, fully paid, and nonassessable.
This opinion has been
prepared for use in connection with the Registration Statement. We assume no obligation to advise you of any changes in the foregoing
subsequent to the effective date of the Registration Statement.
We hereby consent to
the filing of this opinion letter as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we
are an “expert” within the meaning of the Securities Act.
| |
Very truly yours, |
| |
|
| |
/s/ Polsinelli PC |
| |
Polsinelli PC |
Exhibit 23.1
CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement
of Sonoma Pharmaceuticals, Inc. on Form S-8 related to the 2016 Equity Plan of our report dated June 17, 2024, which includes
an explanatory paragraph as to the company's ability to continue as a going concern with respect to our audit of the consolidated financial
statements of Sonoma Pharmaceuticals, Inc. and Subsidiaries as of March 31, 2024 and 2023 and for the years then ended, which report
is included in the Annual Report on Form 10-K of Sonoma Pharmaceuticals, Inc. for the year ended March 31, 2024.
/s/ Frazier & Deeter, LLC
Tampa, Florida
June 17, 2024
Exhibit 107
Calculation of Filing Fee Table
Form S-8
(Form Type)
Sonoma Pharmaceuticals, Inc.
(Exact Name of Registrant as Specified in its Charter)
| Security Type |
|
Security
Class Title |
|
Fee
Calculation Rule |
|
Amount
Registered(1) |
|
|
Proposed
Maximum Offering Price per Share(2) |
|
Maximum
Aggregate Offering Price |
|
Fee
Rate |
|
Amount
of Registration Fee(2) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Equity |
|
Common Stock, par value
$0.0001 per share, issued under the Sonoma Pharmaceuticals, Inc. 2016 Equity Incentive Plan |
|
457(c)
and 457(h) |
|
1,248,594(3) |
|
|
|
$0.18 |
|
|
$224,746.92 |
|
$147.60
per $1,000,000 |
|
|
33.17 |
|
| Total Offering Amounts |
|
|
|
|
|
|
|
|
|
|
$224,746.92 |
|
|
|
$ |
33.17 |
|
| Fees Previously Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
– |
|
| Net Fee Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
33.17 |
|
| |
(1) |
Pursuant to
Rule 416 under the Securities Act of 1933, as amended, the Securities Act, this registration statement also covers any additional
securities that may be offered or issued in connection with any stock split, stock dividend, recapitalization or any other similar
transaction effected without receipt of consideration, which results in an increase in the number of the Registrant’s outstanding
shares of Common Stock. In addition, pursuant to Rule 416(c) under the Securities Act, this registration statement also covers an
indeterminate amount of interests to be offered or sold pursuant to the Sonoma Pharmaceuticals, Inc. 2016 Equity Incentive Plan described
herein. |
| |
|
|
| |
(2) |
Estimated solely for calculation
of the registration fee pursuant to Rules 457(c) and (h)(1) under the Securities Act, based on the average of the high and low prices
for the Registrant’s Common Stock on June 13, 2024, as reported on the Nasdaq Capital Market. |
| |
|
|
| |
(3) |
Represents shares of common
stock that were added to the share authorized for issuance under the respective plan pursuant to “evergreen” provisions
in the plan. Under these provisions, the number of shares authorized for issuance increased by 1,248,594 shares on April 1, 2024. |
Sonoma Pharmaceuticals (NASDAQ:SNOA)
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