UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Amendment No. 5)*
Under the Securities Exchange Act of 1934
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AQUABOUNTY TECHNOLOGIES, INC.
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(Name of Issuer)
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Common Stock, par value $0.01 per share
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(Title of Class of Securities)
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UO387J108
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(CUSIP Number)
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Third Security, LLC
1881 Grove Avenue
Radford, Virginia 24141
Attention: Marcus E. Smith, Esq.
(540) 633-7900
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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Copy to:
Intrexon Corporation
Attention: Legal
20374 Seneca Meadows Parkway
Germantown, Maryland 20876
(301) 556-9809
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February 13, 2020
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(Date of Event which Requires Filing of this Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(b)(3) or (4), check the following box ☐ .
NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* 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 disclosures
provided in a prior cover page.
The information required on 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).
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CUSIP No. UO387J108
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Page 2 of 9
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1
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NAMES OF REPORTING PERSONS
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RANDAL J. KIRK
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
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(a)
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☐
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(b)
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☒
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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PF
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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14,251,753
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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14,251,753
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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14,251,753
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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44.6%
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14
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TYPE OF REPORTING PERSON
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IN
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CUSIP No. UO387J108
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Page 3 of 9
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1
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NAMES OF REPORTING PERSONS
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THIRD SECURITY, LLC
I.R.S. IDENTIFICATION NO.: 54-1923091
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
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(a)
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☐
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(b)
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☒
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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WC
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Virginia
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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14,049,193
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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14,049,193
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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14,049,193
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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44.0%
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14
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TYPE OF REPORTING PERSON
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| OO – limited liability company |
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CUSIP No. UO387J108
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Page 4 of 9
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1
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NAMES OF REPORTING PERSONS
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| TS AQUACULTURE LLC
I.R.S. IDENTIFICATION NO.: 84-3478741 |
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
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(a)
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☐
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(b)
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☒
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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| WC |
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Virginia
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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8,239,199
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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8,239,199
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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8,239,199
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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25.8%
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14
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TYPE OF REPORTING PERSON
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OO – limited liability company
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CUSIP No. UO387J108
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Page 5 of 9
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1
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NAMES OF REPORTING PERSONS
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TS BIOTECHNOLOGY HOLDINGS, LLC
I.R.S. IDENTIFICATION NO.: 84-4504203
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
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(a)
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☐
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(b)
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☒ | ||||
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS
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WC
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
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☐
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Virginia
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7
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SOLE VOTING POWER
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| 5,175,000 |
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8
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SHARED VOTING POWER
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0
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9
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SOLE DISPOSITIVE POWER
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5,175,000
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10
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SHARED DISPOSITIVE POWER
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0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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5,175,000
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
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☐
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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| 16.2% |
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14
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TYPE OF REPORTING PERSON
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CO
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CUSIP No. UO387J108
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Page 6 of 9
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This Amendment No. 5 (the “Amendment”) amends and supplements the Statement on Schedule 13D, dated January 18, 2017 and filed on January 20, 2017, as amended by Amendment No. 1, dated July 24, 2017 and filed on
July 26, 2017, as amended by Amendment No. 2 dated January 17, 2018 and filed on January 19, 2018, as amended by Amendment No. 3 dated October 24, 2018 and filed on October 29, 2018, and as amended by Amendment No. 4 dated October 29, 2019 and
filed on October 31, 2019 (the “Original Schedule 13D”), relating to the Common Stock, par value $0.001 per share (the “Common Stock”), of AquaBounty Technologies, Inc., a Delaware corporation (the “Company”). Mr. Randal J. Kirk (“Mr.
Kirk”), Third Security, LLC, a Virginia limited liability company that is controlled by Mr. Kirk (“Third Security”), TS AquaCulture LLC, a Virginia limited liability company that is managed by Third Security (“TS AquaCulture”), and TS Biotechnology
Holdings, LLC, a Virginia limited liability company that is managed by Third Security (“TS Biotechnology” and, together with Mr. Kirk, Third Security, and TS AquaCulture, the “Reporting Persons”) are filing this
Amendment to disclose the purchase by TS Biotechnology of 5,175,000 shares of Common Stock in an underwritten public offering of 10,350,000 shares of Common Stock, including the exercise in full of the underwriters’ overallotment option, at a price
per share of $1.50, that closed on February 13, 2020 (the “Offering”) .
| Item 3. |
Source and Amount of Funds or Other Consideration.
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Item 3 of the Original Schedule 13D is hereby amended and supplemented as follows:
On February 13, 2020, TS Biotechnology utilized its working capital to purchase 5,175,000 shares of Common Stock in the Offering, for an aggregate purchase price of $7,762,500, or $1.50 per share.
| Item 4. |
Purpose of Transaction.
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Item 4 of the Original Schedule 13D is hereby amended and supplemented as follows:
The information set forth in Items 3 and 6 is incorporated herein by reference.
TS Biotechnology acquired the shares disclosed hereunder for investment purposes.
Other than as disclosed herein, as of the date of this Amendment, none of the Reporting Persons have present plans or proposals which would result in:
(a) The acquisition by any person of additional securities of the Company, or the disposition of securities of the Company;
(b) An extraordinary corporate transaction such as a merger, reorganization or disposition, involving the Company or any of
its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Company or any of its subsidiaries;
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CUSIP No. UO387J108
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Page 7 of 9
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(d) Any change in the present board of directors or management of the Company, including any plans or proposals to change
the number or term of directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy of the Company;
(f) Any other material change in the Company’s business or corporate structure, including but not limited to, if the
Company is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940;
(g) Changes in the Company’s charter, bylaws or instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company by any person;
(h) Causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be
authorized to be quoted in an inter-dealer quotation system of a registered national securities association;
(i) A class of equity securities of the Company becoming eligible for termination of registration pursuant to Section
12(g)(4) of the Securities Exchange Act of 1934; or
(j) Any action similar to any of those actions enumerated above.
| Item 5. |
Interest in Securities of the Issuer.
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The information contained on the cover pages to this Statement and the information set forth or incorporated in Items 2, 3, 4 and 6 is incorporated herein by reference.
(a) and (b) See Items 11
and 13 of the cover pages to this Statement for the aggregate number of shares and percentage of issued and outstanding shares of Common Stock owned by the Reporting Persons. The percentage ownership is calculated based on 21,605,322 shares of
Common Stock issued and outstanding as of November 4, 2019, as disclosed by the Company in its Quarterly Report on Form 10-Q for the period ended September 30, 2019, increased by 10,350,000 shares issued in connection with the Offering, including
the exercise in full of the underwriters’ overallotment option.
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Reporting Person
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Amount of
Common Stock
Beneficially
Owned
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Percent
of Class
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Sole Power
to Vote or
Direct
the Vote
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Shared
Power to
Vote or
Direct
the Vote
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Sole Power to
Dispose or to
Direct the
Disposition
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Shared Power to
Dispose or to
Direct the
Disposition
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Randal J. Kirk
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14,251,753
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(1)
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44.6
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%
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14,251,753
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(1)
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--
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14,251,753
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(1)
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--
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Third Security, LLC
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14,049,193
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(2)
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44.0
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%
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14,049,193
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(2)
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--
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14,049,193
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(2)
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--
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TS AquaCulture LLC
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8,239,199
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(2)
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25.8
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%
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8,239,199
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(2)
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--
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8,239,199
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(2)
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--
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TS Biotechnology Holdings, LLC
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5,175,000
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(2)
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16.2
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%
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5,175,000
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(2)
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--
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5,175,000
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(2)
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--
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| (1) |
Includes 202,560 shares of Common Stock held by various entities that are controlled by Mr. Kirk but not managed by Third Security, none of which beneficially owns more than 5.0% individually.
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CUSIP No. UO387J108
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Page 8 of 9
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| (2) |
Mr. Kirk could be deemed to have indirect beneficial ownership of the shares of Common Stock directly held by entities managed by Third Security, including TS AquaCulture and TS Biotechnology.
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(c) Except as set forth in this Statement, none of the Reporting Persons have engaged in any transactions in
the Common Stock in the past 60 days.
(d)-(e) Not Applicable
| Item 6. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
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The Reporting Persons’ responses to Items 3, 4 and 5 are incorporated herein by reference.
| Item 7. |
Material to be Filed as Exhibits.
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| Exhibit 1 |
Joint Filing Agreement, dated as of February 18, 2020, by and between Mr. Kirk, Third Security, TS AquaCulture, and TS Biotechnology
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CUSIP No. UO387J108
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Page 9 of 9
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SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.
Date: February 18, 2020
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/s/ Randal J. Kirk
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Randal J. Kirk
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THIRD SECURITY, LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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TS AQUACULTURE LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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TS BIOTECHNOLOGY HOLDINGS, LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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EXHIBIT INDEX
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Joint Filing Agreement, dated as of February 18, 2020, by and between Mr. Kirk, Third Security, TS AquaCulture and TS Biotechnology
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Exhibit 1
Joint Filing Agreement
In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the persons named below agree to the
joint filing on behalf of each of them a Statement on Schedule 13D (including amendments thereto) with regard to the common stock of AquaBounty Technologies, Inc., and further agree that this Joint Filing Agreement be included as an exhibit to such
joint filings. In evidence thereof, the undersigned, being duly authorized, hereby execute this agreement as of the 18th day of February, 2020.
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/s/ Randal J. Kirk
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Randal J. Kirk
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THIRD SECURITY, LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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TS AQUACULTURE LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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TS BIOTECHNOLOGY HOLDINGS, LLC
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By:
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/s/ Randal J. Kirk
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Randal J. Kirk
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Manager
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