424B3

Filed pursuant to Rule 424(b)(3)
Registration No. 333-271063

PROSPECTUS SUPPLEMENT NO. 6

(To the prospectus dated May 1, 2023)

https://cdn.kscope.io/e11d3ed78615bfba5e050c29ec167d9b-img61776113_0.jpg 

Up to 4,403,294 Ordinary Shares Issuable Upon Exercise of Warrants

Up to 31,066,909 Ordinary Shares Offered by Selling Securityholders

Up to 151,699 Warrants to purchase Ordinary Shares offered by the Sponsor

 

This prospectus supplement supplements the prospectus, dated May 1, 2023 (the “Prospectus”), which forms a part of our registration statement on Form F-1 (No. 333-271063). This prospectus supplement is being filed to update and supplement the information in the Prospectus with the information contained in our Report on Form 6-K filed with the Securities and Exchange Commission (the “SEC”) on November 15, 2023 (the “Report”), excluding Exhibit 99.3. Accordingly, we have attached the Report to this prospectus supplement.

 

The Prospectus and this prospectus supplement relate to the issuance by us of 4,403,294 Ordinary Shares consisting of (i) 4,251,595 of our ordinary shares, CHF 0.01 nominal value, (“Ordinary Shares”) that may be issued upon exercise of warrants to purchase Ordinary Shares at an exercise price of $11.50 (the “Public Warrants”), and (ii) 151,699 Ordinary Shares that may be issued upon exercise of warrants issued to LSP Sponsor EBAC B.V. (the “Sponsor”) and its transferees to purchase Ordinary Shares at an exercise price of $11.50 (the “Private Placement Warrants”). We refer to the Public Warrants and the Private Placement Warrants together as the “Warrants.” The Warrants were originally issued by European Biotech Acquisition Corp. (“EBAC”) entitling the holder to purchase one share of the EBAC Class A Common Stock (as defined below) at an exercise price of $11.50 per share (“EBAC Warrants”) and automatically converted into Warrants on substantially the same terms as the EBAC Warrants, entitling the holder to purchase our Ordinary Shares on the closing of the Business Combination among us, EBAC and Oculis SA (“Legacy Oculis”). The Business Combination is described in greater detail in the Prospectus in the section entitled “Prospectus Summary – Recent Developments – Business Combination.” Capitalized terms used in this prospectus supplement and not otherwise defined have the meanings set forth in the Prospectus.

 

The Prospectus and this prospectus supplement also relate to the offer and sale from time to time by the selling securityholders named in the Prospectus (collectively, the “Selling Securityholders”), or their permitted transferees, of up to (i) 7,118,891 Ordinary Shares subscribed for by the Selling Securityholders, for a subscription price of $10.00 per share, in the context of the PIPE Financing, (ii) 1,967,000 Ordinary Shares that were issued to the Selling Securityholders upon the conversion of the Convertible Loan Agreements, (iii) 2,047,302 Ordinary Shares issued to the Sponsor and its transferees in exchange for EBAC’s Class B Common Stock, par value $0.0001 (the “EBAC Class B Common Stock” or the “Founder Shares”) in connection with the Business Combination, (iv) 151,699 Ordinary Shares issuable upon exercise of Private Placement Warrants, (v) 19,782,017 Ordinary Shares issued to certain former shareholders of Legacy Oculis in exchange for their Oculis Ordinary Shares in connection with the Business Combination (subject to lockups), and (vi) 151,699 Private Placement Warrants, which were purchased by the Sponsor at a price of $1.50 per warrant.

 

The Ordinary Shares and Warrants are listed on the Nasdaq Global Market (“Nasdaq”) under the symbols “OCS” and “OCSAW” respectively. On November 14, 2023, the closing price of the Ordinary Shares on Nasdaq was $9.80.

 

This prospectus supplement should be read in conjunction with the Prospectus, including any amendments or supplements thereto, which is to be delivered with this prospectus supplement. This prospectus supplement is qualified by reference to the Prospectus, including any amendments or supplements thereto, except to the extent that the information in this prospectus supplement updates and supersedes the information contained therein.


 

This prospectus supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus, including any amendments or supplements thereto.

 

We are a “foreign private issuer” under applicable Securities and Exchange Commission (the “SEC”) rules and an “emerging growth company” as that term is defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and are eligible for reduced public company disclosure requirements.

 

You should read this prospectus supplement carefully before you invest in our securities. Investing in our securities involves risks. See “Risk Factors ” beginning on page 23 of the Prospectus.

 

Neither the SEC nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the Prospectus. Any representation to the contrary is a criminal offense.

 

PROSPECTUS SUPPLEMENT DATED NOVEMBER 15, 2023


 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Month of November 2023

(Commission File No. 001-41636)

Oculis Holding AG

(Translation of registrant's name into English)

Bahnhofstrasse 7

CH-6300

Zug, Switzerland

(Address of registrant’s principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F Form 40-F

 

 

 


 

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

 

On November 15, 2023, Oculis Holding AG (the “Registrant”) announced its unaudited results for the three and nine months ended September 30, 2023, which are further described in the Registrant’s Unaudited Condensed Consolidated Interim Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations and press release, copies of which are attached hereto as Exhibits 99.1, 99.2 and 99.3, respectively, and are incorporated by reference herein.

 

The information contained in this Form 6-K, including Exhibits 99.1 and 99.2 but excluding Exhibit 99.3, is hereby incorporated by reference into the Registrant’s Registration Statement on Form S-8 (File No. 333-271938).

 

 

EXHIBIT INDEX

Exhibit

Description

99.1

Unaudited Condensed Consolidated Interim Financial Statements for the Three and Nine Months Ended September 30, 2023

99.2

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Three and Nine Months Ended September 30, 2023

99.3

 

Press release dated November 15, 2023

 

 

 


 

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, thereunto duly authorized.

 

 

 

 

 

 

 

 

 

OCULIS HOLDING AG

 

 

 

 

Date: November 15, 2023

 

By:

/s/ Sylvia Cheung

 

 

 

Sylvia Cheung

Chief Financial Officer

 

 


 

Exhibit 99.1

 

 

 

https://cdn.kscope.io/e11d3ed78615bfba5e050c29ec167d9b-img61776113_1.jpg

Oculis Holding AG

Unaudited Condensed Consolidated Interim Financial Statements


 

 


 

 

 

Table of Contents

 

 

 

 

 

Unaudited Condensed Consolidated Interim:

 

Statements of Financial Position as of September 30, 2023 and December 31, 2022

 

3

Statements of Loss for the three and nine months ended September 30, 2023 and 2022

4

Statements of Comprehensive Loss for the three and nine months ended September 30, 2023 and 2022

5

Statements of Changes in Equity for the nine months ended September 30, 2023 and 2022

6

Statements of Cash Flows for the nine months ended September 30, 2023 and 2022

7

Notes to the Unaudited Condensed Consolidated Interim Financial Statements

8


 

2


 

Unaudited Condensed Consolidated Interim Statements of Financial Position

(in CHF thousands)

 

 

 

 

 

As of September 30,

 

 

As of December 31,

 

 

 

Note

 

2023

 

 

2022

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

 

 

312

 

 

 

365

 

Intangible assets

 

6

 

 

12,206

 

 

 

12,206

 

Right-of-use assets

 

 

 

 

798

 

 

 

758

 

Other non-current assets

 

 

 

 

129

 

 

 

74

 

Total non-current assets

 

 

 

 

13,445

 

 

 

13,403

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Other current assets

 

8

 

 

7,276

 

 

 

2,959

 

Accrued income

 

8

 

 

1,625

 

 

 

912

 

Short-term financial assets

 

10

 

 

75,871

 

 

 

-

 

Cash and cash equivalents

 

10

 

 

30,724

 

 

 

19,786

 

Total current assets

 

 

 

 

115,496

 

 

 

23,657

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

 

 

 

128,941

 

 

 

37,060

 

 

 

 

 

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders' equity

 

 

 

 

 

 

 

 

Share capital

 

15

 

 

366

 

 

 

39

 

Share premium

 

15

 

 

288,030

 

 

 

10,742

 

Reserve for share-based payment

 

9

 

 

5,337

 

 

 

2,771

 

Actuarial loss on post-employment benefit obligations

 

 

 

 

(560

)

 

 

(264

)

Treasury shares

 

15

 

 

-

 

 

 

(1

)

Cumulative translation adjustments

 

 

 

 

(289

)

 

 

(300

)

Accumulated losses

 

 

 

 

(187,281

)

 

 

(110,978

)

Total equity

 

 

 

 

105,603

 

 

 

(97,991

)

 

 

 

 

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

 

 

 

Long-term lease liabilities

 

 

 

 

505

 

 

 

491

 

Long-term financial debt

 

11

 

 

-

 

 

 

122,449

 

Long-term payables

 

 

 

 

377

 

 

 

-

 

Defined benefit pension liabilities

 

 

 

 

305

 

 

 

91

 

Total non-current liabilities

 

 

 

 

1,187

 

 

 

123,031

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Trade payables

 

 

 

 

6,712

 

 

 

3,867

 

Accrued expenses and other payables

 

13

 

 

8,680

 

 

 

8,011

 

Short-term lease liabilities

 

 

 

 

182

 

 

 

142

 

Warrant liabilities

 

12

 

 

6,577

 

 

 

-

 

Total current liabilities

 

 

 

 

22,151

 

 

 

12,020

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

 

23,338

 

 

 

135,051

 

 

 

 

 

 

 

 

 

 

TOTAL EQUITY AND LIABILITIES

 

 

 

 

128,941

 

 

 

37,060

 

 

The accompanying notes form an integral part of the Unaudited Condensed Consolidated Interim Financial Statements.

3


 

Unaudited Condensed Consolidated Interim Statements of Loss

(in CHF thousands, except loss per share data)

 

 

 

 

 

For the three months ended September 30,

 

 

For the nine months ended September 30,

 

 

 

Note

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Grant income

 

7. (A) / 8

 

 

219

 

 

 

202

 

 

 

698

 

 

 

698

 

Operating income

 

 

 

 

219

 

 

 

202

 

 

 

698

 

 

 

698

 

Research and development expenses

 

7. (B)

 

 

(8,872

)

 

 

(4,592

)

 

 

(21,218

)

 

 

(15,335

)

General and administrative expenses

 

7. (B)

 

 

(4,306

)

 

 

(2,483

)

 

 

(13,147

)

 

 

(6,626

)

Merger and listing expense

 

7. (B)

 

 

-

 

 

 

-

 

 

 

(34,863

)

 

 

-

 

Operating expenses

 

 

 

 

(13,178

)

 

 

(7,075

)

 

 

(69,228

)

 

 

(21,961

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating loss

 

 

 

 

(12,959

)

 

 

(6,873

)

 

 

(68,530

)

 

 

(21,263

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance income

 

7. (C)

 

 

520

 

 

 

61

 

 

 

773

 

 

 

70

 

Finance expense

 

7. (C)

 

 

(11

)

 

 

(1,834

)

 

 

(1,303

)

 

 

(5,119

)

Fair value adjustment on warrant liabilities

 

7. (C) / 12

 

 

(2,434

)

 

 

-

 

 

 

(4,638

)

 

 

-

 

Foreign currency exchange gain (loss)

 

7. (C)

 

 

(2,645

)

 

 

(1,302

)

 

 

(2,485

)

 

 

(3,134

)

Finance result

 

 

 

 

(4,570

)

 

 

(3,075

)

 

 

(7,653

)

 

 

(8,183

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before tax for the period

 

 

 

 

(17,529

)

 

 

(9,948

)

 

 

(76,183

)

 

 

(29,446

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit (expense)

 

 

 

 

116

 

 

 

(6

)

 

 

(120

)

 

 

(69

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss for the period

 

 

 

 

(17,413

)

 

 

(9,954

)

 

 

(76,303

)

 

 

(29,515

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted loss attributable to equity holders

 

16

 

 

(0.48

)

 

 

(2.88

)

 

 

(2.76

)

 

 

(8.71

)

 

The accompanying notes form an integral part of the Unaudited Condensed Consolidated Interim Financial Statements.

4


 

Unaudited Condensed Consolidated Interim Statements of Comprehensive Loss

(in CHF thousands)

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

Note

 

2023

 

2022

 

2023

 

2022

Loss for the period

 

 

(17,413)

 

(9,954)

 

(76,303)

 

(29,515)

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Items that will not be reclassified to profit or loss:

 

 

 

 

 

 

 

 

 

Actuarial gains/(losses) of defined benefit plans

 

 

(21)

 

(38)

 

(296)

 

741

Items that may be reclassified subsequently to profit or loss:

 

 

 

 

 

 

 

 

 

Foreign currency translation differences

7 (C)

 

(1,676)

 

13

 

(4,967)

 

24

Foreign currency translation differences recycling

2

 

4,978

 

-

 

4,978

 

-

Other comprehensive profit/(loss) for the period

 

 

3,281

 

(25)

 

(285)

 

765

 

 

 

 

 

 

 

 

 

 

Total comprehensive loss for the period

 

 

(14,132)

 

(9,979)

 

(76,588)

 

(28,750)

 

The accompanying notes form an integral part of the Unaudited Condensed Consolidated Interim Financial Statements.

5


 

Unaudited Condensed Consolidated Interim Statements of Changes in Equity

(in CHF thousands, except share numbers)

 

 

 

Legacy Oculis share capital

 

 

Legacy Oculis treasury shares

 

 

 

Oculis share capital

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note

 

Shares

 

 

Share capital

 

 

Shares

 

 

Treasury shares

 

 

 

Shares

 

 

Share capital

 

 

Share premium

 

 

Reserve for share-based payment

 

 

Cumulative translation adjustment

 

 

Actuarial loss on post-employment benefit obligations

 

 

Accumulated losses

 

 

Total

 

Balance as of December 31, 2021 (as previously reported)

 

 

 

 

3,353,271

 

 

 

335

 

 

 

(100,000

)

 

 

(100

)

 

 

 

-

 

 

 

-

 

 

 

10,434

 

 

 

1,967

 

 

 

(303

)

 

 

(1,008

)

 

 

(72,280

)

 

 

(60,955

)

Retroactive application of the recapitalization due to the business combination

 

2 / 3 (B)

 

 

480,288

 

 

 

(297

)

 

 

(14,323

)

 

 

99

 

 

 

 

-

 

 

 

-

 

 

 

198

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balance as of January 1, 2022 (effect of the recapitalization)

 

 

 

 

3,833,559

 

 

 

38

 

 

 

(114,323

)

 

 

(1

)

 

 

 

-

 

 

 

-

 

 

 

10,632

 

 

 

1,967

 

 

 

(303

)

 

 

(1,008

)

 

 

(72,280

)

 

 

(60,955

)

Loss for the period

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(29,515

)

 

 

(29,515

)

Other comprehensive profit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial gain on post-employment benefit obligations

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

741

 

 

 

-

 

 

 

741

 

Foreign currency translation differences

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

24

 

 

 

-

 

 

 

-

 

 

 

24

 

Total comprehensive loss for the period

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

24

 

 

 

741

 

 

 

(29,515

)

 

 

(28,750

)

Share-based compensation expense

 

9

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

659

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

659

 

Stock option exercised

 

9

 

 

61,163

 

 

 

1

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

110

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

111

 

Balance as of September 30, 2022 (effect of the recapitalization)

 

 

 

 

3,894,722

 

 

 

39

 

 

 

(114,323

)

 

 

(1

)

 

 

 

-

 

 

 

-

 

 

 

10,742

 

 

 

2,626

 

 

 

(279

)

 

 

(267

)

 

 

(101,795

)

 

 

(88,935

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2022 (as previously reported)

 

 

 

 

3,406,771

 

 

 

340

 

 

 

(100,000

)

 

 

(100

)

 

 

 

-

 

 

 

-

 

 

 

10,540

 

 

 

2,771

 

 

 

(300

)

 

 

(264

)

 

 

(110,978

)

 

 

(97,991

)

Retroactive application of the recapitalization due to the business combination

 

2 / 3 (B)

 

 

487,951

 

 

 

(301

)

 

 

(14,323

)

 

 

99

 

 

 

 

-

 

 

 

-

 

 

 

202

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balance as of January 1, 2023 (effect of the recapitalization)

 

 

 

 

3,894,722

 

 

 

39

 

 

 

(114,323

)

 

 

(1

)

 

 

 

-

 

 

 

-

 

 

 

10,742

 

 

 

2,771

 

 

 

(300

)

 

 

(264

)

 

 

(110,978

)

 

 

(97,991

)

Loss for the period

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(76,303

)

 

 

(76,303

)

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss on post-employment benefit obligations

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(296

)

 

 

-

 

 

 

(296

)

Foreign currency translation differences

 

7 (C)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(4,967

)

 

 

-

 

 

 

-

 

 

 

(4,967

)

Foreign currency translation differences recycling

 

2

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

4,978

 

 

 

-

 

 

 

-

 

 

 

4,978

 

Total comprehensive loss for the period

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

11

 

 

 

(296

)

 

 

(76,303

)

 

 

(76,588

)

Share-based compensation expense

 

9

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,566

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,566

 

Conversion of Legacy Oculis ordinary shares and treasury shares into Oculis ordinary shares

 

2 / 15

 

 

(3,894,722

)

 

 

(39

)

 

 

114,323

 

 

 

1

 

 

 

 

3,780,399

 

 

 

38

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Conversion of Legacy Oculis long-term financial debt into Oculis ordinary shares

 

11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,496,603

 

 

 

165

 

 

 

124,637

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

124,802

 

Issuance of ordinary shares to PIPE investors

 

2

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

7,118,891

 

 

 

71

 

 

 

66,983

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

67,054

 

Issuance of ordinary shares under CLA

 

2

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

1,967,000

 

 

 

20

 

 

 

18,348

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

18,368

 

Issuance of ordinary shares to EBAC shareholders

 

2

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

3,370,480

 

 

 

33

 

 

 

35,492

 

 

 

-