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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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):
July 31, 2025
ADAPTIMMUNE THERAPEUTICS PLC
(Exact name of registrant as specified in its
charter)
England and Wales |
|
1-37368 |
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Not Applicable |
(State or other jurisdiction of
incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
60 Jubilee Avenue, Milton Park
Abingdon, Oxfordshire OX14 4RX
United Kingdom
(Address of principal executive offices,
including zip code)
(44) 1235 430000
(Registrant’s telephone number, including
area code)
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:
¨ | 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 |
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Name of each
exchange on which
registered |
American Depositary Shares, each representing 6 Ordinary Shares, par value £0.001 per share |
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ADAP |
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The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging
growth company 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 1.02 Termination of a Material Definitive
Agreement
On July 31, 2025, in connection with the
consummation of the Transaction (as defined below), affiliates of Hercules Capital, Inc. (“Hercules”) were paid an amount
equal to approximately $29.1 million (the “Payoff Amount”) in satisfaction of all of Adaptimmune Therapeutics plc’s
(the “Company”) indebtedness owed to Hercules, including principal, accrued and unpaid interest, fees, costs and expenses
payable under that certain Loan and Security Agreement, dated May 14, 2024, by and among the Company, Hercules and the other parties
thereto (the “Loan Agreement”).
The Payoff Amount included (a) approximately
$2.9 million as an end-of-term fee and (b) approximately $0.5 million as a pre-payment fee. Upon receipt of the Payoff Amount,
Hercules discharged in full all of the Company’s and its subsidiaries’ obligations, covenants, debts and liabilities under
the Loan Agreement and released all liens and security interests granted to Hercules to secure the obligations under the Loan Agreement.
The Loan Agreement was irrevocably terminated
as of July 31, 2025.
Item 2.01 Completion of Acquisition or Disposition
of Assets.
On July 31, 2025, Adaptimmune Limited (“Seller”,
a wholly-owned subsidiary of the Company and, together with the Company, “Adaptimmune”), completed the sale of the assets
and rights related to Adaptimmune’s TECELRA, lete-cel, afami-cel and uza-cel cell therapies to USWM CT, LLC, a subsidiary of US
WorldMeds Partners, LLC (such sale, the “Transaction”).
The unaudited pro forma financial information
giving effect to the Transaction is filed as Exhibit 99.1 hereto.
Forward-looking Statements
This Current Report on Form 8-K, including
the documents filed herewith or attached hereto and any related oral statements, contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,”
“would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,” “future,”
“opportunity” “will likely result,” “target,” variations of such words, and similar expressions or
negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain
these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding:
the proposed transaction and related matters; the impact of the proposed transaction on Adaptimmune’s share price; the anticipated
benefits of the proposed transaction for Adaptimmune’s financial results and business performance; Adaptimmune’s targets,
plans, objectives or goals for future operations, including those related to Adaptimmune’s products or product candidates, research
and development, product candidate introductions and product candidate approvals as well as cooperation in relation thereto; projections
of or targets for revenues, costs, income (or loss), earnings per share, capital expenditures, dividends, capital structure, net financials
and other financial measures; future economic performance, future actions and outcome of contingencies such as legal proceedings; the
assumptions underlying or relating to such statements; and other risks and uncertainties contained in Adaptimmune’s filings with
the U.S. Securities and Exchange Commission (the “SEC”), including Adaptimmune’s most recently filed Annual Report on
Form 10-K. These forward-looking statements speak only as of the date of this Current Report on Form 8-K, and Adaptimmune undertakes
no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise,
except to the extent required by applicable laws.
Item 9.01 Financial Statements and Exhibits.
(b) Pro Forma Financial Information
The following unaudited pro forma financial information of the Company
is attached hereto as Exhibit 99.1 and is incorporated herein by reference:
| · | Unaudited Pro Forma Condensed Consolidated Balance Sheet as of June 30,
2025. |
| · | Unaudited Pro Forma Condensed Consolidated Statements of Operations for the
year ended December 31, 2024 and for the six months ended June 30, 2025. |
| · | Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements. |
(d) Exhibits
Exhibit No. |
|
Description |
99.1 |
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Unaudited Pro Forma Condensed Consolidated Financial Statements. |
|
|
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
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ADAPTIMMUNE THERAPEUTICS PLC |
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Date: July 31, 2025 |
By: |
/s/ Margaret Henry |
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Name: Margaret Henry |
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Title: Corporate Secretary |