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 21, 2021

 

INTEC PHARMA LTD.

(Exact name of registrant as specified in its charter)

 

Israel   001-37521   N/A
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

12 Hartom St.

Har Hotzvim

   
Jerusalem, Israel   9777512
(Address of principal executive offices)   (Zip Code)
 
+ 972-2-586-4657

(Registrant’s telephone number, including area code)

 

 

(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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol   Name of each exchange on which registered
Ordinary Shares, no, par value   NTEC   Nasdaq Capital Market

 

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 5.07. Submission of Matters to a Vote of Security Holders.

 

On June 21, 2021, Intec Pharma Ltd. (the “Company” or “Intec Israel”) held a special meeting of shareholders (the “Special Meeting”) to consider seven proposals related to the Company’s merger with Decoy Biosystems, Inc., a Delaware corporation (“Decoy”), in connection with the Agreement and Plan of Merger and Reorganization dated March 15, 2021 (the “Merger Agreement”) among the Company, Intec Parent, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Intec Parent”), Dillon Merger Subsidiary Inc., a Delaware corporation (“Merger Sub”), Domestication Merger Sub, Ltd., an Israeli company and a wholly-owned subsidiary of Intec Parent (“Domestication Merger Sub”), and Decoy. Each of the Company’s proposals was approved by the requisite vote of the Company’s shareholders as described below.

 

At the close of business on May 20, 2021, the record date for the Special Meeting, there were 4,821,971 ordinary shares of the Company outstanding. The holders of a total of 2,024,212 ordinary shares of the Company were represented at the Special Meeting in person or by proxy, representing approximately 42% of the Company’s ordinary shares entitled to vote at the Special Meeting, which total constituted a quorum for the Special Meeting in accordance with the Company’s bylaws.

 

Set forth below are the matters acted upon by the Company’s shareholders at the Special Meeting and the final voting results on each such matter. Each proposal required approval by holders of a majority of shares of the Company present and entitled to vote a meeting at which a quorum is present. For more information on these proposals, please refer to the Company’s joint proxy statement/prospectus for the Special Meeting, filed with the Securities and Exchange Commission on May 14, 2021.

 

1. Approval of the merger of Merger Sub with and into Decoy, the Merger Agreement and the transactions contemplated thereunder:

 

For     Against     Abstain     Broker Non-Votes
  768,706       14,460       826     1,240,220

 

2. Approval of the domestication of the Company from Israel to the State of Delaware by Domestication Merger Sub merging with and into the Company, the Merger Agreement and certain matters related thereto, including Intec Parent’s amended and restated certificate of incorporation:

 

For     Against     Abstain     Broker Non-Votes
  770,015       13,409       568     1,240,220

 

3. Approval to grant discretionary authority to the board of directors of the Company to amend the articles of association of the Company to effect a reverse stock split of Intec Israel ordinary shares at a ratio within the range between 1-for-2 and 1-for-4 to be effective at the ratio and on a date to be determined by the board of directors of Intec Israel in its sole discretion, prior to the effectiveness of the Domestication Merger.

 

For     Against     Abstain     Broker Non-Votes
  1,923,825       92,405       7,892     0

 

4. Approval to elect Michael J. Newman, Ph.D., Jeffrey A. Meckler, Anthony J. Maddaluna, Hila Karah, Dr. Roger J. Pomerantz, William B. Hayes, Hoonmo Lee and Brian O’Callaghan to serve staggered terms until the first, second and third annual general meeting:

 

Nominee   For     Against     Abstain     Broker
Non-Votes
Michael J. Newmann, Ph.D.     763,139       13,419       7,434     1,240,220
Jeffrey A. Meckler     760,090       15,426       8,476     1,240,220
Anthony J. Maddaluna     763,460       11,886       8,646     1,240,220
Hila Karah     756,240       15,209       12,543     1,240,220
Dr. Roger J. Pomerantz     764,689       10,597       8,706     1,240,220
William B. Hayes     754,043       15,724       14,225     1,240,220
Hoonmo Lee     750,130       20,374       13,488     1,240,220
Brian O’Callaghan     759,929       10,441       13,622     1,240,220

 

 
 

 

5. Approval and adoption of the Intec Parent Option Plan:

 

For     Against     Abstain     Broker Non-Votes
  749,039       21,961       12,993     1,240,220

 

6. Approval of the issuance of such number of Company ordinary shares or Intec Parent common stock in a closing financing as would yield aggregate gross proceeds to the Company or Intec Parent, as applicable, such that the combined net cash of Intec Parent will be not less than $30 million and not more than $50 million:

 

For     Against     Abstain     Broker Non-Votes
  743,435       28,129       12,429     1,240,220

 

7. Approval to adjourn the meeting.

 

For     Against     Abstain     Broker Non-Votes
  2,006,463       10,759       6,990     0

 

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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: June 22, 2021

 

  INTEC PHARMA LTD.
   
  By:  /s/ Nir Sassi
    Nir Sassi
    Chief Financial Officer

 

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