# EDGAR Filing Document

**Accession Number:** 0001527096
**File Stem:** 0001104659-23-003407
**Filing Date:** 2023-1
**Character Count:** 19668
**Document Hash:** 75da047e4966f9b1390a1d2a3138a4ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-003407.hdr.sgml**: 20230112

**ACCESSION NUMBER**: 0001104659-23-003407

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230112

**DATE AS OF CHANGE**: 20230112

**EFFECTIVENESS DATE**: 20230112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Miromatrix Medical Inc.
- **CENTRAL INDEX KEY:** 0001527096
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 271285782
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269198
- **FILM NUMBER:** 23526112

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 FLYING CLOUD DRIVE
- **STREET 2:** SUITE 107
- **CITY:** EDEN PRAIRIE
- **STATE:** MN
- **ZIP:** 55344
- **BUSINESS PHONE:** (612)202-7026

**MAIL ADDRESS:**
- **STREET 1:** 6455 FLYING CLOUD DRIVE
- **STREET 2:** SUITE 107
- **CITY:** EDEN PRAIRIE
- **STATE:** MN
- **ZIP:** 55344

**As filed with the Securities and Exchange Commission on January 12, 2023.**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D. C. 20549**

**Form S-8**

**REGISTRATION STATEMENT UNDER THE**

**SECURITIES ACT OF 1933**

---

| |
|:---|
| &nbsp;&nbsp;**MIROMATRIX MEDICAL INC.** |
| &nbsp;&nbsp;(Exact Name of Registrant as Specified in its Charter) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**27-1285782** |
| &nbsp;&nbsp;(State or other jurisdiction of<br> incorporation or organization) | &nbsp;&nbsp;(I.R.S. Employer<br> Identification No.) |
| &nbsp;&nbsp;**6455 Flying Cloud Drive, Suite 107 Eden <br> Prairie, MN** | &nbsp;&nbsp;**55344** |
| &nbsp;&nbsp;(Address of Principal Executive Offices) | &nbsp;&nbsp;(Zip Code) |

---

**Miromatrix Medical Inc. 2021 Equity Incentive Plan**

**Miromatrix Medical Inc. Employee Stock Purchase Plan**

(Full Title of the Plan)

**Jeffrey Ross**<br> Chief Executive Officer<br> Miromatrix Medical Inc.<br> 6455 Flying Cloud Drive, Suite 107<br> Eden Prairie, MN 55344<br> (Name and Address of Agent for Service)<br>

Telephone number, including area code, of agent for service: **(952) 942-6000**

Copies to:

**Steven C. Kennedy**

**Joshua L. Colburn**

Faegre Drinker Biddle & Reath LLP

2200 Wells Fargo Center

90 South Seventh Street

Minneapolis, Minnesota 55402-3901

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ◻ Accelerated Filer ◻ <br> Non-accelerated Filer 🗹 Smaller Reporting Company 🗹 <br> 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 7(a)(2)(B) of the Securities Act. ◻

**MIROMATRIX MEDICAL INC.**

**STATEMENT PURSUANT TO GENERAL INSTRUCTION E<br> TO FORM S-8 "REGISTRATION OF ADDITIONAL SECURITIES"**

The 2021 Equity Incentive Plan (the "2021 Plan") of Miromatrix Medical Inc. (the "Company") provides, among other things, that the number of shares of the Company's common stock, $0.00001 par value per share (the "Common Stock"), reserved for issuance under the 2021 Equity Incentive Plan will be increased on January 1 of each year, commencing on January 1, 2022 and ending on (and including) January 1, 2031 in an amount equal to the least of: (i) 4.5% of the total number of shares of Common Stock outstanding as of December 31 of the immediately preceding calendar year; (ii) 600,000 shares of Common Stock; or (iii) such lesser number of shares of Common Stock as may be determined by the Company's Board of Directors (the "Board").

The Company's Employee Stock Purchase Plan (the "ESPP") provides, among other things, that the number of shares of Common Stock reserved for issuance under the ESPP will be increased on January 1 of each year, commencing on January 1, 2022 and ending on (and including) January 1, 2031 in an amount equal to the least of: (i) 1% of the total number of shares of Common Stock outstanding as of December 31 of the immediately preceding calendar year, or (ii) 200,000 shares of Common Stock; provided, however, that the Board may determine that any annual increase shall be for a number of shares of Common Stock that is less than the number of shares of Common Stock determined by the application of clauses (i) and (ii).

On June 24, 2021, the Company filed a registration statement on [Form S-8 (file no. 333-257359, the "Initial Registration Statement")](https://www.sec.gov/Archives/edgar/data/1527096/000110465921085151/tm2111005d25_s8.htm) with the Securities and Exchange Commission (the "Commission") to register shares of Common Stock for issuance under the 2021 Plan, the ESPP, the Company's 2019 Equity Incentive Plan and the Company's 2010 Stock Incentive Plan. Pursuant to General Instruction E to Form S-8, the contents of the Initial Registration Statement are incorporated herein by reference, except for Part II, Item 8.

The Company has filed this registration statement on Form S-8 to register: (a) 1,200,000 additional shares of Common Stock not previously registered under the 2021 Plan, 600,000 of which became available for issuance under the 2021 Plan on January 1, 2023, and 600,000 of which became available for issuance under the 2021 Plan on January 1, 2022, and (b) 400,000 additional shares of Common Stock not previously registered under the ESPP, 200,000 of which became available for issuance under the ESPP on January 1, 2023, and 200,000 of which became available for issuance under the ESPP on January 1, 2022.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 8.** **Exhibits.**

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Exhibit**<br> **Number**<br>| **Description of Exhibit** |
| &nbsp;&nbsp;[4.1](http://www.sec.gov/Archives/edgar/data/1527096/000155837022004763/tmb-20211231xex3d1.htm) | [Second Amended and Restated Certificate of Incorporation of Miromatrix Medical Inc. (incorporated by reference to Exhibit 3.1 to annual report on Form 10-K for the year ended December 31, 2021)](http://www.sec.gov/Archives/edgar/data/1527096/000155837022004763/tmb-20211231xex3d1.htm) |
| &nbsp;&nbsp;[4.2](http://www.sec.gov/Archives/edgar/data/1527096/000110465921086261/tm2111005d27_ex3-2.htm) | [Amended and Restated Bylaws of Miromatrix Medical Inc. (incorporated by reference to Exhibit 3.2 to current report on Form 8-K filed on June 28, 2021)](http://www.sec.gov/Archives/edgar/data/1527096/000110465921086261/tm2111005d27_ex3-2.htm) |
| &nbsp;&nbsp;[4.3](http://www.sec.gov/Archives/edgar/data/1527096/000110465921074281/tm2111005d7_ex10-30.htm) | [Miromatrix Medical Inc.2021 Equity Incentive Plan (incorporated by reference to Exhibit 10.30 to the Registration Statement on Form S-1, filed with the Securities and Exchange Commission on May 28, 2021 (File no. 333-256649)).](http://www.sec.gov/Archives/edgar/data/1527096/000110465921074281/tm2111005d7_ex10-30.htm) |
| &nbsp;&nbsp;[4.4](http://www.sec.gov/Archives/edgar/data/1527096/000110465921074281/tm2111005d7_ex10-31.htm) | [Miromatrix Medical Inc. Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.31 to the Registration Statement on Form S-1, filed with the Securities and Exchange Commission on May 28, 2021 (File no. 333-256649)).](http://www.sec.gov/Archives/edgar/data/1527096/000110465921074281/tm2111005d7_ex10-31.htm) |
| &nbsp;&nbsp;[5.1+](tm233214d1_ex5-1.htm) | [Opinion of Faegre Drinker Biddle & Reath LLP](tm233214d1_ex5-1.htm) |
| &nbsp;&nbsp;[23.1+](tm233214d1_ex23-1.htm) | [Consent of Independent Registered Public Accounting Firm (Baker Tilly US, LLP)](tm233214d1_ex23-1.htm) |
| &nbsp;&nbsp;[23.2+](tm233214d1_ex5-1.htm) | [Consent of Faegre Drinker Biddle & Reath LLP (included in Exhibit 5.1)](tm233214d1_ex5-1.htm) |
| &nbsp;&nbsp;[24.1](#a_001) | [Powers of Attorney (included with signatures)](#a_001) |
| &nbsp;&nbsp;[107.1+](tm233214d1_ex-filingfees.htm) | [Filing Fee Table](tm233214d1_ex-filingfees.htm) |

---

+ Filed herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Minneapolis, State of Minnesota, on January 12, 2023.

---

| | |
|:---|:---|
| **MIROMATRIX MEDICAL INC.** | **MIROMATRIX MEDICAL INC.** |
| By: | /s/ Jeffrey Ross |
|  | Name: Jeffrey Ross |
|  | Title: Chief Executive Officer and Director |

---

**POWER OF ATTORNEY**

Each person whose signature appears below hereby constitutes and appoints Jeffrey Ross and James Douglas, and each of them acting individually, as his or her true and lawful attorneys-in-fact and agents, with full power of each to act alone, with full powers of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign the Registration Statement filed herewith and any and all amendments to said Registration Statement (including post-effective amendments), and file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, with full power of each to act alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his or their substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on January 12, 2023:

---

| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Jeffrey Ross | Chief Executive Officer and Director |
| Jeffrey Ross | (*principal executive officer*) |
| /s/ James Douglas | Chief Financial Officer |
| James Douglas | (*principal financial and accounting officer*)<br>|
| /s/ Paul Buckman | Director |
| Paul Buckman |  |
| /s/ William Burke | Director |
| William Burke |  |
| /s/ John Erb | Director |
| John Erb |  |
| /s/ Lisa Wipperman Heine | Director |
| Lisa Wipperman Heine |  |
| /s/ Peter Maag | Director |
| Peter Maag |  |

---

## Exhibit 5.1

**Exhibit 5.1**

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| | |
|:---|:---|
| ![](tm233214d1_ex5-1img001.jpg) | ![](tm233214d1_ex5-1imag002.jpg) |

---

**Faegre Drinker Biddle & Reath LLP**<br> 2200 Wells Fargo Center<br> 90 South Seventh Street<br> Minneapolis, Minnesota 55402<br> +1 612 766 7000 main<br> +1 612 766 1600 fax

January 12, 2023

Miromatrix Medical Inc.

6455 Flying Cloud Drive, Suite 107

Eden Prairie, MN 55344

Re: <u>Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as counsel to Miromatrix Medical Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the preparation and filing with the Securities and Exchange Commission (the "<u>Commission</u>") of the Company's Registration Statement on Form S-8 (the "<u>Registration Statement</u>") under the Securities Act of 1933, as amended (the "<u>Act</u>"), registering the offer and sale of up to an additional 1,200,000 shares (the "<u>2021 Plan Shares</u>") of the Company's common stock, $0.00001 par value per share ("<u>Common Stock</u>"), issuable by the Company pursuant to the Company's 2021 Equity Incentive Plan (the "<u>2021 Plan</u>"), and up to an additional 400,000 shares of the Company's Common Stock (the "<u>ESPP Shares</u>" and, collectively with the 2021 Plan Shares, the "<u>Shares</u>") issuable by the Company pursuant to the Company's Employee Stock Purchase Plan (the "<u>ESPP</u>").

For purposes of this opinion letter, we have examined the 2021 Plan, the ESPP, the Registration Statement, the Company's Second Amended and Restated Certificate of Incorporation, as currently in effect, the Company's Amended and Restated Bylaws, as currently in effect, and the resolutions of the Company's board of directors authorizing the issuance of the Shares. We have also examined a certificate of the Secretary of the Company dated as of the date hereof (the "<u>Certificate</u>") and originals, or copies certified or otherwise authenticated to our satisfaction, of such corporate records and other records, agreements, instruments, certificates of public officials and documents as we have deemed necessary as a basis for the opinions hereinafter expressed and have made such examination of law as we have deemed relevant and necessary in connection with the opinions hereinafter expressed. As to facts material to this opinion letter, we have relied upon certificates, statements or representations of public officials, of officers and representatives of the Company (including the Certificate) and of others, without any independent verification thereof.

In rendering the opinions set forth below, we have assumed: (i) the legal capacity of all natural persons; (ii) the genuineness of all signatures, including electronic signatures; (iii) the authenticity of all documents submitted to us as originals; (iv) the conformity to original documents of all documents submitted to us as certified, conformed, photostatic or facsimile copies; (v) the authenticity of the originals of such latter documents; (vi) the truth, accuracy and completeness of the information, representations and warranties contained in the agreements, documents, instruments, certificates and records we have reviewed; and (vii) the absence of any undisclosed modifications to the agreements and instruments reviewed by us.

Based upon and subject to the foregoing and to the other qualifications, assumptions and limitations set forth herein, we are of the opinion that all necessary corporate action on the part of the Company has been taken to authorize the issuance and sale of the Shares to be issued in accordance with the 2021 Plan and the ESPP and that, when (a) the 2021 Plan Shares have been issued and sold as contemplated in the Registration Statement and related prospectus and in accordance with the 2021 Plan and any applicable award agreement and, where applicable, the consideration for the 2021 Plan Shares specified in the 2021 Plan and any applicable award agreement has been received by the Company, the 2021 Plan Shares will be validly issued, fully paid and nonassessable, and (b) the ESPP Shares have been issued and sold as contemplated in the Registration Statement and related prospectus and in accordance with the ESPP and the consideration for the ESPP Shares specified in the ESPP has been received by the Company, the ESPP Shares will be validly issued, fully paid and nonassessable.

We do not express any opinion herein with respect to the laws of any jurisdiction other than, subject to the limitations and assumptions contained herein, the General Corporation Law of the State of Delaware.

This opinion letter speaks only as of the date the Registration Statement becomes effective under the Act, and we assume no obligation to revise or supplement this opinion letter thereafter. This opinion letter is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| FAEGRE DRINKER BIDDLE & REATH LLP | FAEGRE DRINKER BIDDLE & REATH LLP |
| By: | /s/ Joshua L. Colburn |
|  | Joshua L. Colburn |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement on Form S-8 of Miromatrix Medical Inc. (the "Company") of our report dated March 30, 2022, relating to the financial statements of the Company, which appear in the Annual Report on Form 10-K of the Company for the year ended December 31, 2021.

/s/ Baker Tilly US, LLP

Minneapolis, Minnesota

January 12, 2023

## Ex-Filing

Exhibit 107.1

**Calculation of Filing Fee Tables**

**Form S-8**<br> (Form Type)

**Miromatrix Medical Inc.**<br> (Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered Securities**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Feel <br> Calculation or <br> Carry <br> Forward Rule** | **Amount Registered (1)** | **Proposed <br> Maximum <br> Offering Price <br> Per Unit** |  | **Maximum <br> Aggregate <br> Offering Price** | **Fee Rate** | **Amount of <br> Registration Fee** |
| Equity | Common Stock, par value $0.00001 per share | 457(c) and 457(h) | 1,200,000 shares (2) | $3.32 | (4) | $3984000 | 0.0001102 | $439.04 |
| Equity | Common Stock, par value $0.00001 per share | 457(c) and 457(h) | 400,000 shares (3) | $3.32 | (4) | $1328000 | 0.0001102 | $146.35 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $5312000 |  | $585.39 |
| **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  | - |
| **Total Fee Offset** | **Total Fee Offset** | **Total Fee Offset** | **Total Fee Offset** | **Total Fee Offset** |  |  |  | - |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $585.39 |

---

(1) In
 accordance with Rule 416 under the Securities Act of 1933, as amended (the "Securities
 Act"), this registration statement shall be deemed to cover an indeterminate number
 of additional shares of the Registrant's common stock, $0.00001 par value per share
 (the "Common Stock"), to be offered or issued from stock splits, stock dividends
 or similar transactions.

(2) Represents
 an increase to the number of shares of Common Stock reserved for issuance for future awards
 under the Miromatrix Medical Inc. 2021 Equity Incentive Plan (the "2021 Plan")
 pursuant to the 2021 Plan's evergreen provision.

(3) Represents
 an increase to the number of shares of Common Stock reserved for issuance for future awards
 under the Miromatrix Medical Inc. Employee Stock Purchase Plan (the "ESPP") pursuant
 to the ESPP's evergreen provision.

(4) Estimated
 in accordance with Rule 457(c) and 457(h) of the Securities Act solely for purposes of calculating
 the registration fee, on the basis of $3.32 per share, which is the average of the high and
 low prices of the Common Stock as reported on the Nasdaq Capital Market on January 10, 2023,
 which date is within five business days prior to filing this registration statement.