# EDGAR Filing Document

**Accession Number:** 0001836056
**File Stem:** 0001193125-23-068506
**Filing Date:** 2023-3
**Character Count:** 16241
**Document Hash:** 57b31c29a4216029f03619f925335233
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-068506.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001193125-23-068506

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230313

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ambrx Biopharma Inc.
- **CENTRAL INDEX KEY:** 0001836056
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 571147346
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40505
- **FILM NUMBER:** 23725765

**BUSINESS ADDRESS:**
- **STREET 1:** 10975 NORTH TORREY PINES ROAD
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037
- **BUSINESS PHONE:** (858) 729-3339

**MAIL ADDRESS:**
- **STREET 1:** 10975 NORTH TORREY PINES ROAD
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037

?xml version="1.0" encoding="utf-8" ? 8-K

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d)

#### of The Securities Exchange Act of 1934

#### March 13, 2023

#### Date of Report (Date of earliest event reported)

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## Ambrx Biopharma Inc.

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-40505** | **N/A** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

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| | |
|:---|:---|
| **10975 Torrey Pines Road**<br> **La Jolla, California** | **92037** |
| **(Address of principal executive offices)** | **(Zip Code)** |

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(858) 875-2400

#### (Registrant's telephone number, including area code)

#### N/A

#### (Former name or former address, if changed since last report)

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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:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Ordinary shares, par value US $0.0001 per share\* | N/A | The New York Stock Exchange\* |
| American Depositary Shares, each representing seven ordinary shares, par value US $0.0001 per share | AMAM | The New York Stock Exchange |

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**\*** Not for trading, but only in connection with the listing of the American depositary shares on the New York Stock Exchange. The American depositary shares represent the right to receive the ordinary shares and are being registered under the Securities Act of 1933 pursuant to a separate Registration Statement on Form F-6. Accordingly, the American depositary shares are exempt from registration under Section 12(a) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 12a-8 thereunder.

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. ☒

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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*ATM Activity*

Pursuant to the at-the-market Sales Agreement, dated July 29, 2022, by and between Ambrx Biopharma Inc. (the "Company") and Cowen and Company, LLC ("TD Cowen"), the Company was able to offer and sell its American Depositary Shares, each representing seven ordinary shares ("ADSs"), having an aggregate offering price of up to $80.0 million from time-to-time through TD Cowen as its sales agent (the "ATM Program"). During the first quarter of 2023, the Company issued and sold 16,575,826 of its ADSs at an average selling price of $4.83 per ADS, for gross proceeds of approximately $80.0 million and net proceeds of approximately $78.0 million, after deducting sales commissions, and thereby exhausted the capacity of the ATM Program and, as of March 10, 2023, has now completed it.

As of March 10, 2023, the Company had 386,486,014 ordinary shares outstanding (including ordinary shares in the form of ADSs), equivalent to approximately 55,212,287 ADSs. The capital raised from the now completed ATM Program (approximately $78.0 million) is in addition to the Company's preliminary cash position previously disclosed in the Company's Current Report on Form 8-K dated February 6, 2023 (the "Previous 8-K") wherein the Company provided that, based on then-current estimates, as of December 31, 2022, the Company had cash, cash equivalents and marketable debt securities, available-for-sale of $101.3 million, of which $16.8 million were non-current marketable debt securities, available-for-sale. Such estimates are preliminary and are subject to the assumptions and limitations set forth in the Previous 8-K.

*Recent Events* 

The Company is aware of the closure of Silicon Valley Bank ("SVB") . The Company does not hold cash deposits or securities at SVB. The investment of the Company's cash is governed by an investment policy designed to preserve its capital, safeguard its funds and limit exposure to risk.

The Company issued a press release, dated March 13, 2023, related to the foregoing, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in Exhibit 99.1 is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, and such information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission ("SEC") made by the Company, whether made before or after today's date, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.

#### Forward-Looking Statements
This Current Report on Form 8-K includes certain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words "estimate," "expect," "evaluate," "intend," "will," "could," "potential" and similar expressions, and include, without limitation, express or implied statements regarding the Company's preliminary estimates of cash, cash equivalents and marketable debt securities, available-for-sale, as of December 31, 2022 and the Company's clinical trial and product candidate strategy. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: risks related to preliminary financial results, including the risks that the preliminary financial results reported herein reflect information available to the Company only at this time and may differ from actual results, including in connection with the Company's completion of financial closing procedures; risks associated with market conditions; risks and uncertainties associated with the Company's business and finances in general; the Company's ability to execute on its strategy including with respect to the timing of its research and development efforts, initiation of clinical trials and other anticipated milestones; risks associated with development of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results may not be consistent with preliminary results or results from prior preclinical studies or clinical trials; the Company's ability to fund operations as anticipated; risks associated with geopolitical and macroeconomic conditions, including the COVID-19 pandemic; and the additional risks and uncertainties set forth more fully under the caption "Risk Factors" in the Company's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") on April 26, 2022, and elsewhere in the Company's filings and reports with the SEC. Forward-looking statements contained in this current report are made as of this date, and the Company undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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The information contained in this Current Report on Form 8-K is hereby incorporated by reference into the Company's Registration Statement Form F-3 (Registration No. 333-266404).

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d) Exhibits

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Exhibit Description** |
| 99.1 | [Press Release of the Company, dated March 13, 2023.](d480452dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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#### 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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| | | |
|:---|:---|:---|
| Date: March 13, 2023 | **AMBRX BIOPHARMA INC.** | **AMBRX BIOPHARMA INC.** |
|  | By: | /s/ Sonja Nelson |
|  | Name: | Sonja Nelson |
|  | Title: | Chief Financial and Operating Officer |

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## Exhibit 99.1

**Exhibit 99.1**![LOGO](g480452g0313052354048.jpg)

**Ambrx Raises $78 Million and Completes its ATM Program** 

**SAN DIEGO,** March 13, 2023 *–* Ambrx Biopharma Inc., or Ambrx (NYSE: AMAM), today announced that it has completed net sales of approximately $78 million of American Depositary Shares ("ADSs") pursuant to the Company's at-the-market ("ATM") program established on Aug 5, 2022, through Cowen and Company LLC ("TD Cowen"), acting as sales agent. The ATM program had an aggregate offering price of up to $80 million in gross proceeds. Through the utilization of the ATM, the Company has raised $78 million in net proceeds, after deducting sales commissions, thereby exhausting the capacity of the ATM and completing it.

Pursuant to its ATM sales agreement with TD Cowen, Ambrx sold an aggregate of 16,575,826 ADSs at an average selling price of $4.83 per ADS, resulting in net proceeds of $78 million. As of the completion of the ATM on March 10, 2023, the Company had 386,486,014 ordinary shares outstanding (including ordinary shares in the form of ADSs), equivalent to approximately 55,212,287 ADSs. Each ADS represents seven ordinary shares of the Company.

The capital raised from the now completed ATM (approximately $78 million) is in addition to the Company's preliminary cash position previously disclosed in the Company's Current Report on Form 8-K dated February 6, 2023, wherein the Company provided that, based on then-current estimates, as of December 31, 2022, the Company had cash, cash equivalents and marketable debt securities, available-for-sale of $101.3 million.

"Our focus is on ARX788 and ARX517. With the addition of the capital raised under the now completed ATM, we believe we have sufficient capital resources to execute on our current development plans into 2025," said Daniel J. O'Connor, President and CEO of Ambrx. "Further, we are aware of the closure of Silicon Valley Bank ("SVB"). Ambrx does not hold cash deposits or securities at SVB. The investment of the Company's cash is governed by an investment policy designed to preserve its capital, safeguard its funds and limit exposure to risk."

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**About Ambrx Biopharma Inc.** 

Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop next generation antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. Ambrx is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its proprietary antibody-drug conjugates (ADC) targeting the prostate-specific membrane antigen (PSMA) and ARX788, its proprietary ADC targeting HER2. In addition, Ambrx has preclinical and clinical collaborations with multiple partners on drug candidates generated using Ambrx technology. Ambrx spun out of The Scripps Research Institute in 2003 and has several other product candidates involving ADCs and other aspects of Ambrx's protein engineering technology. For more information, please visit <u>www.ambrx.com</u>. Ambrx routinely posts information that may be important to investors on its website.

**Forward-Looking Statements** 

This press release includes certain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words "intend," "plan," and similar expressions, and include, without limitation, express or implied statements regarding Ambrx's preliminary estimates of cash, cash equivalents and marketable debt securities, available-for-sale, as of December 31, 2022, Ambrx's estimated cash runway and Ambrx's clinical trial and product candidate plans and strategy. Forward-looking statements are based on Ambrx's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the continuing impact of the COVID-19 pandemic and other public health-related risks and events on Ambrx's business, operations, strategy, goals and anticipated milestones; Ambrx's ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; risks associated with development and marketing approval of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results/data may not be consistent with interim, initial or preliminary results/data or results/data from prior preclinical studies or clinical trials; Ambrx's ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption "Risk Factors" in Ambrx's Annual Report on Form 20-F filed with the SEC on April 26, 2022, and elsewhere in Ambrx's filings and reports with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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**Contacts** 

INVESTORS

Mike Moyer

LifeSci Advisors

617-308-4306

<u>mmoyer@lifesciadvisors.com</u> 

MEDIA

Mike Tattory

Account Supervisor

LifeSci Communications

<u>media@ambrx.com</u> 

Source: Ambrx Biopharma Inc.

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