SEC Form SC 13G/A filed by VistaGen Therapeutics Inc. (Amendment)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Vistagen Therapeutics, Inc.
| (Name of Issuer) |
|
Common Stock, $0.001 par value per share |
| (Title of Class of Securities) |
92840H400 |
| (CUSIP Number) |
|
|
| December 31, 2023 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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CUSIP No. 92840H400
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SCHEDULE 13G/A
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Page 2
of 9 Pages
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1
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NAME OF REPORTING PERSONS
Great Point Partners, LLC
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|||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
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||
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3
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SEC USE ONLY
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|||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
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SHARED VOTING POWER
2,792,927 | |||
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7
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SOLE DISPOSITIVE POWER
0
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|||
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8
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SHARED DISPOSITIVE POWER
2,792,927
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|||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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|||
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
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x1
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||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99%2
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12
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TYPE OF REPORTING PERSON
IA/OO
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1 In addition to an aggregate of 1,858,735 shares of the Issuer's common stock (the "Common Stock") in the aggregate held outright, the reporting persons hold in the aggregate warrants to purchase 2,055,834 shares of Common Stock; however, the provisions of such warrants restrict the exercise of such warrants to the extent that, after giving effect to such exercise, the holder of the warrants and its affiliates, together with any other person or entities with which such holder would constitute a group, would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise (the "Beneficial Ownership Cap"). As a result, an aggregate of 934,192 shares underlying such warrants are beneficially owned by the reporting persons.
2 Based on a total of 27,957,230 shares outstanding, which is the sum of (i) 27,023,038 common shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 9, 2023 and (ii) 934,192 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons (subject to the Beneficial Ownership Cap).
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CUSIP No. 92840H400
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SCHEDULE 13G/A
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Page
3 of 9 Pages
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1
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NAME OF REPORTING PERSONS
Dr. Jeffrey R. Jay, M.D.
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|||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
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||
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3
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SEC USE ONLY
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|||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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|||
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
2,792,927
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
2,792,927
|
|||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
x1
|
||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99%2
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|||
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12
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TYPE OF REPORTING PERSON
IN/HC
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|||
1 In addition to an aggregate of 1,858,735 shares of the Issuer's common stock (the "Common Stock") in the aggregate held outright, the reporting persons hold in the aggregate warrants to purchase 2,055,834 shares of Common Stock; however, the provisions of such warrants restrict the exercise of such warrants to the extent that, after giving effect to such exercise, the holder of the warrants and its affiliates, together with any other person or entities with which such holder would constitute a group, would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise (the "Beneficial Ownership Cap"). As a result, an aggregate of 934,192 shares underlying such warrants are beneficially owned by the reporting persons.
2 Based on a total of 27,957,230 shares outstanding, which is the sum of (i) 27,023,038 common shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 9, 2023 and (ii) 934,192 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons (subject to the Beneficial Ownership Cap).
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CUSIP No. 92840H400
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SCHEDULE 13G/A
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Page 4
of 9 Pages
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1
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NAME OF REPORTING PERSONS
Mr. Ortav Yehudai
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|||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
|
||
|
3
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SEC USE ONLY
|
|||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
2,792,927
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
2,792,927
|
|||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
x1
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99%2
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|||
|
12
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TYPE OF REPORTING PERSON
IN/HC
|
|||
1 In addition to an aggregate of 1,858,735 shares of the Issuer's common stock (the "Common Stock") in the aggregate held outright, the reporting persons hold in the aggregate warrants to purchase 2,055,834 shares of Common Stock; however, the provisions of such warrants restrict the exercise of such warrants to the extent that, after giving effect to such exercise, the holder of the warrants and its affiliates, together with any other person or entities with which such holder would constitute a group, would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise (the "Beneficial Ownership Cap"). As a result, an aggregate of 934,192 shares underlying such warrants are beneficially owned by the reporting persons.
2 Based on a total of 27,957,230 shares outstanding, which is the sum of (i) 27,023,038 common shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 9, 2023 and (ii) 934,192 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons (subject to the Beneficial Ownership Cap).
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CUSIP
No. 92840H400
|
SCHEDULE 13G/A
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Page 5
of 9 Pages
|
| Item 1. | (a) Name of Issuer |
Vistagen Therapeutics, Inc.
| Item 1. | (b) Address of Issuer’s Principal Executive Offices |
343 Allerton Ave.
South San Francisco, California 94080
| Item 2. | (a) Names of Persons Filing: |
Great Point Partners, LLC
Dr. Jeffrey R. Jay, M.D.
Mr. Ortav Yehudai
The Reporting Persons have entered into a Joint Filing Agreement, dated February 14, 2024, a copy of which is filed with this SCHEDULE 13G/A as Exhibit A, pursuant to which the Reporting Persons have agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.
| Item 2. | (b) Address of Principal Business Office: |
The address of the principal business office of each of the Reporting Persons is
165 Mason Street, 3rd Floor
Greenwich, CT 06830
| Item 2. | (c) Citizenship: |
Great Point Partners, LLC is a limited liability company organized under the laws of the State of Delaware. Dr. Jeffrey R. Jay, M.D. is a citizen of the United States. Mr. Ortav Yehudai is a citizen of the United States.
| Item 2. | (d) Title of Class of Securities |
Common Stock, $0.001 par value per share (the “Common Stock”)
| Item 2. | (e) CUSIP No.: |
92840H400
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CUSIP No. 92840H400
|
SCHEDULE 13G/A
|
Page 6
of 9 Pages
|
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | ¨ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | o | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | ¨ | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); | |
| (h) | ¨ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | ¨ | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); | |
| (k) | ¨ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
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CUSIP
No. 92840H400
|
SCHEDULE 13G/A
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Page
7 of 9 Pages
|
Item 4. Ownership
The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover pages for the Reporting Persons and is incorporated herein by reference.
The percentage set forth in Row (11) of the cover pages for the Reporting Persons are based on a total of 27,957,230 shares outstanding, which is the sum of (i) 27,023,038 common shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 9, 2023 and (ii) 934,192 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons (subject to the Beneficial Ownership Cap).
Biomedical Value Fund, L.P. (“BVF”) is the record holder of 1,055,761 shares of Common Stock (the “BVF Shares”). Such shares constitute 3.77% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. BVF is the record holder of warrants to purchase an additional 1,167,713 shares of Common Stock (the “BVF Warrants”). As a result of the Beneficial Ownership Cap, 530,621 shares underlying such warrants are exercisable, which constitutes 1.90% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. Each of Dr. Jeffrey R. Jay, M.D. (“Dr. Jay”), as Senior Managing Member of Great Point, and Mr. Ortav Yehudai (“Mr. Yehudai”), as Managing Director of Great Point, has voting and investment power with respect to the BVF Shares, and therefore may be deemed to be the beneficial owner of the BVF Shares.
Biomedical Offshore Value Fund, Ltd. (“BOVF”) is the record holder of 676,580 shares of Common Stock (the “BOVF Shares”). Such shares constitute 2.42% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. BOVF is the record holder of warrants to purchase an additional 748,324 shares of Common Stock (the “BOVF Warrants”). As a result of the Beneficial Ownership Cap, 340,046 shares underlying such warrants are exercisable, which constitutes 1.22% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. Each of Dr. Jeffrey R. Jay, M.D. (“Dr. Jay”), as Senior Managing Member of Great Point, and Mr. Ortav Yehudai (“Mr. Yehudai”), as Managing Director of Great Point, has voting and investment power with respect to the BOVF Shares, and therefore may be deemed to be the beneficial owner of the BOVF Shares.
Cheyne Global Equity Fund (an Open-Ended Fund of Cheyne Select Master Fund ICAV) (“CGEF”) is the record holder of 126,394 shares of Common Stock (the “CGEF Shares”). Such shares constitute 0.45% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. CGEF is the record holder of warrants to purchase an additional 139,797 shares of Common Stock (the “CGEF Warrants”). As a result of the Beneficial Ownership Cap, 63,525 shares underlying such warrants are exercisable, which constitutes 0.23% of the shares of Common Stock outstanding, computed in accordance with Rule 13d-3. Each of Dr. Jeffrey R. Jay, M.D. (“Dr. Jay”), as Senior Managing Member of Great Point, and Mr. Ortav Yehudai (“Mr. Yehudai”), as Managing Director of Great Point, has voting and investment power with respect to the CGEF Shares, and therefore may be deemed to be the beneficial owner of the CGEF Shares.
Notwithstanding the above, Great Point, Dr. Jay and Mr. Yehudai disclaim beneficial ownership of the BVF Shares, the BOVF Shares, and the CGEF Shares, except to the extent of their respective pecuniary interests.
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
1. Great Point Partners, LLC
(a) Amount beneficially owned: 2,792,927
(b) Percent of class: 9.99%1
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 2,792,927
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 2,792,927
2. Dr. Jeffrey R. Jay, M.D.
(a) Amount beneficially owned: 2,792,927
(b) Percent of class: 9.99%1
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 2,792,927
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 2,792,927
3. Mr. Ortav Yehudai
(a) Amount beneficially owned: 2,792,927
(b) Percent of class: 9.99%1
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 2,792,927
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 2,792,927
1 Based on a total of 27,957,230 shares outstanding, which is the sum of (i) 27,023,038 common shares outstanding as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on November 9, 2023 and (ii) 934,192 shares of the Common Stock issuable upon exercise of warrants held by the reporting persons (subject to the Beneficial Ownership Cap).
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
See Item 4.
Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Not Applicable.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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CUSIP No. 92840H400
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SCHEDULE 13G/A
|
Page
8 of 9 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 14, 2024
Great Point Partners, LLC | |||
| By: | /s/ Dr. Jeffrey R. Jay, M.D. | ||
| Dr. Jeffrey R. Jay, M.D., as Senior Managing Member | |||
Dr. Jeffrey R. Jay, M.D. | |||
| By: | /s/ Dr. Jeffrey R. Jay, M.D. | ||
| Dr. Jeffrey R. Jay, M.D. | |||
Mr. Ortav Yehudai | |||
| By: | /s/ Mr. Ortav Yehudai | ||
| Mr. Ortav Yehudai | |||
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CUSIP No. 92840H400
|
SCHEDULE 13G/A
|
Page 9
of 9 Pages
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Exhibit A
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned hereby agree as follows:
(i) Each of them is individually eligible to use the SCHEDULE 13G/A to which this Exhibit is attached, and such SCHEDULE 13G/A is filed on behalf of each of them; and
(ii) Each of them is responsible for the timely filing of such SCHEDULE 13G/A and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.
Dated: February 14, 2024
Great Point Partners, LLC | |||
| By: | /s/ Dr. Jeffrey R. Jay, M.D. | ||
| Dr. Jeffrey R. Jay, M.D., as Senior Managing Member | |||
Dr. Jeffrey R. Jay, M.D. | |||
| By: | /s/ Dr. Jeffrey R. Jay, M.D. | ||
| Dr. Jeffrey R. Jay, M.D. | |||
Mr. Ortav Yehudai | |||
| By: | /s/ Mr. Ortav Yehudai | ||
| Mr. Ortav Yehudai | |||