Exhibit 10.9

 

AMENDMENT NO. 1
 TO

SERIES C CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT

 

This Amendment No. 1 (this “Amendment”) dated as of September 24, 2013 amends that certain Series C Convertible Preferred Stock Purchase Agreement dated as of August 27, 2013 (the “Purchase Agreement”) by and among Collegium Pharmaceutical, Inc., a Delaware corporation (the “Company”), and the persons and entities listed on Schedule A attached thereto (the “Purchasers”).  All capitalized terms used but not defined in this Amendment shall have the meanings assigned to such terms in the Purchase Agreement.

 

WHEREAS, the Company issued and sold an aggregate of 2,220,670 shares of the Company’s Series C Convertible Preferred Stock (the “Series C Preferred”) to Purchasers at the Initial Tranche 1 Closing on August 27, 2013;

 

WHEREAS, the Company desires to issue and sell up to an aggregate of 665,334 shares of Series C Preferred to certain investors at the Additional Tranche 1 Closing and the Company and the Purchasers wish to confirm each Purchaser’s pro rata amount of the Tranche 2 Closing Shares;

 

WHEREAS, Section 5.2 of the Purchase Agreement provides that any term thereof may be amended, modified or waived by the written consent of the Company and Purchasers holding at least sixty-six percent (66%) of the voting power of the Series C Preferred Shares then outstanding and the undersigned Purchasers hold at least sixty-six percent (66%) of the voting power of the Series C Preferred Shares currently outstanding; and

 

WHEREAS, the Company and the undersigned Purchasers desire to amend the Purchase Agreement as set forth herein.

 

NOW THEREFORE, in consideration of the foregoing and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.                                      Amendment.

 

1.1                               Section 1.4(c)(ii) is amended and restated in its entirety to read as follows:

 

“(ii)                            Upon the occurrence of a Triggering Event, the Company shall promptly, but no later than 11:59 p.m., Eastern time, on the third Business Day following the occurrence of the Triggering Event, deliver written notice to each Purchaser of the occurrence of a Triggering Event (“Triggering Event Notice”), which Triggering Event Notice shall offer each Purchaser the opportunity to purchase such Purchaser’s “pro rata amount” of the Tranche 2 Closing Shares, which shall be the amount set forth opposite such Purchaser’s name on Schedule A-2 attached hereto (“Tranche 2 Pro Rata Amount”).  Each Purchaser may elect to purchase such Purchaser’s Tranche 2 Pro Rata Amount by delivering payment of the Purchase Price for the Tranche 2 Closing Shares purchased by such Purchaser no later than the Second Tranche 2 Closing Date (subject to Section 1.4(c)(iii) below).”

 











 

1.2                               Schedule A-1 and Schedule A-2 of the Purchase Agreement are hereby amended and restated to read in their entirety as Schedule A-1 and Schedule A-2 attached hereto.

 

2.                                      Effect of Amendment.  Except as expressly amended by this Amendment, all other terms and conditions of the Purchase Agreement are hereby ratified and confirmed.

 

3.                                      Counterparts.  This Amendment may be executed in any number of counterparts, all of which taken together, including facsimiles thereof, shall constitute one and the same instrument, and any of the parties hereto may execute this Amendment by signing any such counterpart.

 

[Signature Page Follows]

 











 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No.1 to Series C Convertible Preferred Stock Purchase Agreement to be executed as an instrument under seal as of the date first above written.

 

	
THE COMPANY:
    	
 
    
	
 
    	
 
    
	
COLLEGIUM PHARMACEUTICAL, INC.
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Michael Heffernan
    	
 
    
	
Name: 
    	
Michael Heffernan
    	
 
    
	
Title: 
    	
President and Chief Executive Officer
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
PURCHASERS:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
LONGITUDE VENTURE PARTNERS, L.P.
    	
 
    
	
a Delaware Limited Partnership
    	
 
    
	
 
    	
 
    
	
 
    	
By: Longitude Capital Partners, LLC
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Patrick Enright
    	
 
    
	
Name: 
    	
Patrick Enright
    	
 
    
	
Title: 
    	
Managing Member
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
LONGITUDE CAPITAL   ASSOCIATES, L.P.
    	
 
    
	
a Delaware Limited   Partnership
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By: Longitude Capital Partners, LLC
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Patrick Enright
    	
 
    
	
Name: 
    	
Patrick Enright
    	
 
    
	
Title: 
    	
Managing Member
    	
 
    
	
 
    	
 
    


 

[Signature Page to Amendment No.1 to Series C 
 Convertible Preferred Stock Purchase Agreement]

 











 

PURCHASERS (Cont.):

 

 

	
SKYLINE VENTURE PARTNERS V, L.P.
    	
 
    
	
 
    	
 
    
	
By: 
    	
Skyline Venture Management V, LLC
    	
 
    
	
Its: 
    	
General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Kerensa Kenny
    	
 
    
	
Name: 
    	
Kerensa Kenny
    	
 
    
	
Title: 
    	
Authorized Signatory
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
FRAZIER HEALTHCARE   VI, LP
    	
 
    
	
By FHM VI, LP, its   general partner
    	
 
    
	
By FHM VI, LLC,   its general partner
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By: 
    	
/s/ Patrick Heron
    	
 
    
	
Name: 
    	
Patrick Heron
    	
 
    
	
Title: 
    	
Manager
    	
 
    


 

[Signature Page to Amendment No.1 to Series C 
 Convertible Preferred Stock Purchase Agreement]

 











 

SCHEDULE A-1

 

Tranche 1 Closing Purchasers

 

	
Name of Purchaser
    	
 
    	
Aggregate
   Purchase Price
    	
 
    	
No. of Series C
   Preferred Shares
   Purchased
    	
 
    
	
I.   The Initial Tranche 1 Closing
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Longitude Venture   Partners, L.P. 

545 Steamboat Road   

Greenwich, CT   06830
    	
 
    	
$
    	
869,331.08
    	
 
    	
627,223
    	
 
    
	
Longitude Capital   Associates, L.P. 

545 Steamboat Road   

Greenwich, CT   06830
    	
 
    	
$
    	
17,424.79
    	
 
    	
12,572
    	
 
    
	
Skyline Venture   Partners V, L.P. 

525 University   Avenue 

Suite 520 

Palo Alto, CA   94301 

Fax: 650-329-1090 
    	
 
    	
$
    	
725,526.65
    	
 
    	
523,468
    	
 
    
	
Frazier Healthcare   VI, LP 

550 Hamilton Ave. 

Suite 100 

Palo Alto, CA   94301 

Fax: (650)   325-5157 
    	
 
    	
$
    	
1,435,431.69
    	
 
    	
1,035,665
    	
 
    
	
Matthew Strobeck 

45 Slate Farm Road   

Charlotte, VT   05445 
    	
 
    	
$
    	
23,628.53
    	
 
    	
17,048
    	
 
    
	
E. Hunterson   Henrie 

c/o Ferghana   Partners 

420 Lexington   Avenue, Suite 2626 

New York, New York   10170 
    	
 
    	
$
    	
3,252.94
    	
 
    	
2,347
    	
 
    
	
Rawle Michelson 

c/o Ferghana   Partners 

420 Lexington   Avenue, Suite 2626 

New York, New York   10170
    	
 
    	
$
    	
3,252.94
    	
 
    	
2,347
    	
 
    
	
Totals:
    	
 
    	
$
    	
3,077,848.62
    	
 
    	
2,220,670
    	
 
    


 











 

Schedule A-1 (cont.):

 

	
II.   Additional Tranche 1 Closing
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Phillip Satow 

583 Broadway 

Apt. 8B 

New York, NY 10012   
    	
 
    	
$
    	
1,354.12
    	
 
    	
977
    	
 
    
	
Michael Satow 

18 Ivy Hill Road 

Chappaqua, NY   10514 
    	
 
    	
$
    	
677.75
    	
 
    	
489
    	
 
    
	
Julie Satow 

72 Horatio St. 

Apt. 25 

New York, NY 10014   
    	
 
    	
$
    	
677.75
    	
 
    	
489
    	
 
    
	
JDS Associates LLC   

18 Ivy Hill Road 

Chappaqua, NY   10514 
    	
 
    	
$
    	
677.75
    	
 
    	
489
    	
 
    
	
Steven Tannenbaum 

174 Winding River   Road 

Wellesley, MA   02482 
    	
 
    	
$
    	
338.18
    	
 
    	
244
    	
 
    
	
Theodore L. Iorio 

36 Forest Lane 

Millis, MA 02054
    	
 
    	
$
    	
1,692.31
    	
 
    	
1,221
    	
 
    
	
Longitude Venture   Partners, L.P. 

545 Steamboat Road   

Greenwich, CT   06830
    	
 
    	
$
    	
494,297.50
    	
 
    	
356,636
    	
 
    
	
Longitude Capital   Associates, L.P. 

545 Steamboat Road   

Greenwich, CT   06830
    	
 
    	
$
    	
9,907.13
    	
 
    	
7,148
    	
 
    
	
Skyline Venture   Partners V, L.P. 

525 University Avenue   

Suite 520 

Palo Alto, CA   94301 

Fax: 650-329-1090 
    	
 
    	
$
    	
412,530.43
    	
 
    	
297,641
    	
 
    
	
Totals:
    	
 
    	
$
    	
922,152.92
    	
 
    	
665,334
    	
 
    


 











 

SCHEDULE A-2

 

Tranche 2 Closing Purchasers

 

	
Name of Purchaser
    	
 
    	
Aggregate
   Purchase Price
    	
 
    	
Tranche 2 Pro
   Rata Amount
    	
 
    
	
Longitude Venture Partners,   L.P. 

545 Steamboat Road   

Greenwich, CT   06830 

Fax: 
    	
 
    	
$
    	
3,017,385.76
    	
 
    	
2,177,046
    	
 
    
	
Longitude Capital   Associates, L.P. 

545 Steamboat Road   

Greenwich, CT   06830 

Fax: 
    	
 
    	
$
    	
60,479.50
    	
 
    	
43,636
    	
 
    
	
Skyline Venture   Partners V, L.P. 

525 University   Avenue 

Suite 520 

Palo Alto, CA   94301 

Fax: 650-329-1090 
    	
 
    	
$
    	
2,518,252.51
    	
 
    	
1,816,921
    	
 
    
	
Frazier Healthcare   VI, LP 

550 Hamilton Ave. 

Suite 100 

Palo Alto, CA   94301 

Fax: (650)   325-5157 
    	
 
    	
$
    	
2,314,509.12
    	
 
    	
1,669,920
    	
 
    
	
Matthew Strobeck 

45 Slate Farm Road   

Charlotte, VT   05445 
    	
 
    	
$
    	
64,238.33
    	
 
    	
46,348
    	
 
    
	
E. Hunterson   Henrie 

c/o Ferghana   Partners 

420 Lexington   Avenue, Suite 2626 

New York, New York   10170 
    	
 
    	
$
    	
8,842.68
    	
 
    	
6,380
    	
 
    
	
Rawle Michelson 

c/o Ferghana   Partners 

420 Lexington   Avenue, Suite 2626 

New York, New York   10170
    	
 
    	
$
    	
8,842.68
    	
 
    	
6,380
    	
 
    


 











 

	
Phillip Satow 

583 Broadway 

Apt. 8B 

New York, NY 10012   
    	
 
    	
$
    	
1,861.40
    	
 
    	
1,343
    	
 
    
	
Michael Satow 

18 Ivy Hill Road 

Chappaqua, NY   10514 
    	
 
    	
$
    	
931.39
    	
 
    	
672
    	
 
    
	
Julie Satow 

72 Horatio St. 

Apt. 25 

New York, NY 10014   
    	
 
    	
$
    	
931.39
    	
 
    	
672
    	
 
    
	
JDS Associates LLC   

18 Ivy Hill Road 

Chappaqua, NY   10514 
    	
 
    	
$
    	
931.39
    	
 
    	
672
    	
 
    
	
Steven Tannenbaum 

174 Winding River   Road 

Wellesley, MA   02482 
    	
 
    	
$
    	
464.31
    	
 
    	
335
    	
 
    
	
Theodore L. Iorio 

36 Forest Lane

Millis, MA 02054 
    	
 
    	
$
    	
2,327.09
    	
 
    	
1,679
    	
 
    
	
Totals:
    	
 
    	
$
    	
7,999,997.55
    	
 
    	
5,772,004