# EDGAR Filing Document

**Accession Number:** 0001850270
**File Stem:** 0000950170-23-010413
**Filing Date:** 2023-3
**Character Count:** 23328
**Document Hash:** 690062ac9eef40f713d35c65eb8a0550
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-010413.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0000950170-23-010413

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230328

**EFFECTIVENESS DATE**: 20230329

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROKIDNEY CORP.
- **CENTRAL INDEX KEY:** 0001850270
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 981586514
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270920
- **FILM NUMBER:** 23771536

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 FRONTIS PLAZA BLVD.
- **STREET 2:** SUITE 250
- **CITY:** WINSTON-SALEM
- **STATE:** NC
- **ZIP:** 27103
- **BUSINESS PHONE:** 336-999-7028

**MAIL ADDRESS:**
- **STREET 1:** 2000 FRONTIS PLAZA BLVD.
- **STREET 2:** SUITE 250
- **CITY:** WINSTON-SALEM
- **STATE:** NC
- **ZIP:** 27103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Social Capital Suvretta Holdings Corp. III
- **DATE OF NAME CHANGE:** 20210310

**As filed with the Securities and Exchange Commission on March 28, 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** 

**ProKidney Corp.** 

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

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| | |
|:---|:---|
| **Cayman Islands** | **98-1586514** |
| **(State or other jurisdiction of<br>incorporation or organization)** | **(I.R.S. Employer<br>Identification Number)** |

---

**2000 Frontis Plaza Blvd., Ste 250**

**Winston-Salem, NC 27103**

**Telephone: (336) 999-7028** 

**(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)** 

**ProKidney Corp. 2022 Incentive Equity Plan**

**(Full Title of the Plans)** 

**Tim Bertram, Ph.D.**

**Chief Executive Officer**

**ProKidney Corp.**

**2000 Frontis Plaza Blvd., Ste 250**

**Winston-Salem, NC 27103**

**Telephone: (336) 999-7028** 

**(Name, address, including zip code, and telephone number, including area code, of agent for service)** 

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.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer |  | Accelerated filer |  |
| Non-accelerated filer |  | Smaller reporting company |  |
|  |  | 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. 

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**EXPLANATORY NOTE**

<br> This Registration Statement registers 11,655,928 additional Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares"), of ProKidney Corp. (the "Registrant") under the Registrant's 2022 Incentive Equity Plan (the "2022 Plan"), representing an increase of 11,655,928 Class A Ordinary Shares reserved for issuance under the 2022 Plan, effective January 1, 2023 by operation of the "evergreen" provision contained in the 2022 Plan. This Registration Statement registers additional securities of the same class as other securities for which a registration statement filed on Form S-8 of the Registrant relating to one or more employee benefit plans is effective (File No. 333-267414). The information contained in the Registrant's registration statement on Form S-8 (File No. 333-267414), to the extent not otherwise amended or superseded by the contents hereof, are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents filed by the Registrant with the Commission are incorporated herein by reference:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's Annual Report on [<u>Form 10-K</u>](https://www.sec.gov/Archives/edgar/data/1850270/000095017023010324/prok-20221231.htm) for the year ended December 31, 2022, filed with the Commission on March 28, 2023; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The description of the Registrant's securities contained in the Registrant's registration statement on [<u>Form 8-A</u>](https://www.sec.gov/Archives/edgar/data/1850270/000119312521202749/d179568d8a12b.htm) (File No. 001-40560), filed by the Registrant with the Commission under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on June 29, 2021, including any amendments or reports filed for the purpose of updating such description.

All reports and other documents filed by the Registrant after the date hereof pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items), prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part hereof from the date of filing of such reports and documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

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| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exhibit<br>Number** | **Exhibit Description** | **Filed<br>Herewith** | **Incorporated by<br>Reference herein from<br>Form or Schedule** | **Filing Date** | **SEC File/<br>Reg.<br>Number** |
| [<u>4.1</u>](https://www.sec.gov/Archives/edgar/data/1804176/000110465921023964/tm215875d1_ex3-1.htm) | [<u>Second Amended and Restated Memorandum and Articles of Association of ProKidney Corp.</u>](https://www.sec.gov/Archives/edgar/data/1850270/000119312522195148/d285643dex31.htm) |  | Form 8-K <br>(Exhibit 3.1) | 7/15/2022 | 001-40560 |
| [<u>5.1</u>](prok-ex5_1.htm) | [<u>Opinion of Walkers (Cayman) LLP</u>](prok-ex5_1.htm) | X |  |  |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| [<u>23.1</u>](prok-ex23_1.htm) | [<u>Consent of Ernst & Young LLP, independent registered public accounting firm</u>](prok-ex23_1.htm) | X |  |  |  |
| [<u>23.2</u>](prok-ex5_1.htm) | [<u>Consent of Walkers (Cayman) LLP (included in Exhibit 5.1)</u>](prok-ex5_1.htm) | X |  |  |  |
| [<u>24.1</u>](#power_of_attorney) | [<u>Power of Attorney (included on the signature page hereof)</u>](#power_of_attorney) | X |  |  |  |
| [<u>99.1+</u>](https://www.sec.gov/Archives/edgar/data/1804176/000110465921043278/tm214074d1_ex10-19d1.htm) | [<u>ProKidney Corp. 2022 Incentive Equity Plan</u>](https://www.sec.gov/Archives/edgar/data/1850270/000119312522195148/d285643dex1011.htm) |  | Form 8-K <br>(Exhibit 10.11) | 7/15/2022 | 001-40560 |
| [<u>107.1</u>](prok-exfiling_fees.htm) | [<u>Calculation of registration fee</u>](prok-exfiling_fees.htm) | X |  |  |  |

---

+ Management contract or compensatory plan or arrangement.

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**Signatures**

<br> Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Winston-Salem, State of North Carolina, on March 28, 2023.

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| | |
|:---|:---|
| **PROKIDNEY CORP.** | **PROKIDNEY CORP.** |
| By: | <u>/s/ Tim Bertram, Ph.D.</u> |
|  | Tim Bertram, Ph.D.<br>Chief Executive Officer<br>|

---

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**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints each of Tim Bertram, Ph.D. and James Coulston, acting alone or together with another attorney-in-fact, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in his or her name, place and stead, in any and all capacities, to sign any or all further amendments (including post-effective amendments) to this registration statement, and to 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, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the dated indicated.

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| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| <u>/s/Tim Bertram, Ph.D.</u> | Chief Executive Officer and Director<br>(Principal Executive Officer) | March 28, 2023 |
| Tim Bertram, Ph.D. | Chief Executive Officer and Director<br>(Principal Executive Officer) | March 28, 2023 |
| <u>/s/James Coulston, CPA</u>  | Chief Financial Officer (Principal Financial and Accounting Officer) | March 28, 2023 |
| James Coulston, CPA | Chief Financial Officer (Principal Financial and Accounting Officer) | March 28, 2023 |
| <u>/s/Pablo Legoretta</u> | Chairman | March 28, 2023 |
| Pablo Legoretta | Chairman | March 28, 2023 |
| <u>/s/William F. Doyle</u>  | Director | March 28, 2023  |
| William F. Doyle | Director | March 28, 2023  |
| <u>/s/Jennifer Fox</u> | Director | March 28, 2023 |
| Jennifer Fox | Director | March 28, 2023 |
| <u>/s/José Ignacio Jimenez</u> <u>Santos</u> | Director | March 28, 2023 |
| José Ignacio Jimenez Santos | Director | March 28, 2023 |
| <u>/s/Alan M. Lotvin, M.D.</u> | Director | March 28, 2023 |
| Alan M. Lotvin, M.D. | Director | March 28, 2023 |
| <u>/s/John M. Maraganore, Ph.D</u> | Director | March 28, 2023 |
| John M. Maraganore, Ph.D | Director | March 28, 2023 |
| <u>/s/Brian J.G. Pereira, M.D.</u>  | Director | March 28, 2023 |
| Brian J.G. Pereira, M.D. |  |  |
| <u>/s/Uma Sinha, Ph.D.</u> | Director | March 28, 2023 |
| Uma Sinha, Ph.D. | Director | March 28, 2023 |

---

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## Ex-5

**Exhibit 5.1**

![img50585944_0.jpg](img50585944_0.jpg)

**Walkers**

190 Elgin Avenue, George Town

Grand Cayman KY1-9001, Cayman Islands

**T** +1 345 949 0100 **F** +1 345 949 7886 www.walkersglobal.com

Bermuda \| British Virgin Islands \| Cayman Islands \| Dubai \| Guernsey \| Hong Kong \| Ireland \| Jersey \| London \| Singapore

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| |
|:---|
| 28 March 2023 |
| **PROKIDNEY CORP.**<br>c/o Walkers Corporate Limited<br>190 Elgin Avenue<br>George Town<br>Grand Cayman KY1-9008<br>Cayman Islands |

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**Exhibit 5.1**

Dear Addressee

**ProKidney Corp.**

We have been asked to provide this legal opinion to you with regard to the laws of the Cayman Islands in connection with the registration by **ProKidney Corp.** (the "**Company**") of 11,655,928 of Class A ordinary shares in the capital of the Company, par value US$0.0001 (the "**Plan Shares**"), issuable pursuant to the ProKidney Corp. 2022 Incentive Equity Plan (the "**Incentive Equity Plan**"), under the United States Securities Act of 1933, as amended (the "**Securities Act**") and pursuant to the terms of the Registration Statement (as defined in Schedule 1).

For the purposes of giving this opinion, we have examined and relied solely upon the originals or copies of the documents listed in Schedule 1.

We are Cayman Islands Attorneys at Law and express no opinion as to any laws other than the laws of the Cayman Islands in force and as interpreted at the date of this opinion.

Based upon the foregoing examinations and the assumptions and qualifications set out below and having regard to legal considerations which we consider relevant, and under the laws of the Cayman Islands, as at the date hereof, we give the following opinions in relation to the matters set out below.

1. The Company is an exempted company duly incorporated with limited liability, validly existing under the laws of the Cayman Islands and in good standing with the Registrar of Companies in the Cayman Islands (the "**Registrar**").

2. The Plan Shares have been duly authorised by all necessary corporate action of the Company and upon the issue of the Plan Shares (by the entry of the name of the registered owner thereof in the Register of Members of the Company confirming that such Plan Shares have been issued and credited as fully paid), delivery and payment therefor by the purchaser in accordance with the Memorandum and Articles (as defined in Schedule 1) and in the manner contemplated by the Registration Statement and the Incentive Equity Plan, the Plan Shares will be validly issued, fully paid and non-assessable (meaning that no additional sums may be levied in respect of such Plan Shares on the holder thereof by the Company).

The foregoing opinions are given based on the following assumptions:

3. The originals of all documents examined in connection with this opinion are authentic. The signatures, initials and seals on the Documents and Resolutions (each as defined in Schedule 1) are, or will be, genuine and are, or will be, those of a person or persons stated therein. All documents purporting to be sealed have been, or will be, so sealed. All copies are complete and conform to their originals. The Documents when executed will conform in every material respect to the latest drafts of the same produced to us prior to the date hereof and, where provided in successive drafts, have been marked up to indicate all changes to such Documents.

4. The Memorandum and Articles will be the memorandum and articles of association of the Company in effect at the time of the issue of the Plan Shares.

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| | |
|:---|:---|
| **Walkers** | Page 3<br>|

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5. The Company Records (as defined in Schedule 1) are complete and accurate and all matters required by law and the Memorandum and Articles to be recorded therein are completely and accurately so recorded.

6. The accuracy and completeness of all factual representations made in the Registration Statement and all other documents reviewed by us.

7. The Company will receive or has received consideration in money or money's worth for each Plan Share offered by the Company when issued at the agreed issue price as per the terms of the Registration Statement, such price in any event not being less than the stated par or nominal value of each Plan Share.

8. The preparation and filing of the Registration Statement has been duly authorised by or on behalf of the Company prior to the issue of the Plan Shares.

9. All preconditions to the issue of Plan Shares under the terms of the Incentive Equity Plan will be satisfied or duly waived prior to the issue sale of the Plan Shares and there will be no breach of the terms of the Incentive Equity Plan.

10. There is nothing under any law (other than the laws of the Cayman Islands) which would or might affect any of the opinions set forth above.

We have relied upon the statements and representations of directors, officers and other representatives of the Company as to factual matters.

Our opinion as to good standing is based solely upon receipt of the Certificate of Good Standing issued by the Registrar. The Company shall be deemed to be in good standing under section 200A of the Companies Act (as amended) of the Cayman Islands (the "**Companies Act**") on the date of issue of the certificate if all fees and penalties under the Companies Act have been paid and the Registrar has no knowledge that the Company is in default under the Companies Act.

This opinion is limited to the matters referred to herein and shall not be construed as extending to any other matter or document not referred to herein. This opinion is given solely for your benefit and the benefit of your legal advisers acting in that capacity in relation to this transaction and may not be relied upon by any other person, other than persons entitled to rely upon it pursuant to the provisions of the Securities Act, without our prior written consent.

This opinion shall be construed in accordance with the laws of the Cayman Islands.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the references to our firm, as Cayman Islands counsel to the Company, in the Registration Statement.

Yours faithfully

/s/ Walkers (Cayman) LLP

**Walkers (Cayman) LLP**

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| | |
|:---|:---|
| **Walkers** | Page 4<br>|

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| | |
|:---|:---|
| **Walkers** | Page 5<br>|

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**Schedule 1** ****

<br> **LIST OF DOCUMENTS EXAMINED**

1. The Certificate of Incorporation dated 25 February 2021, Certificate of Incorporation on Change of Name dated 11 July 2022, Register of Directors and Register of Officers and the Second Amended and Restated Memorandum and Articles of Association adopted on 11 July 2022 (the "**Memorandum and Articles**"), in each case, of the Company, copies of which have been provided to us by its registered office in the Cayman Islands (together the "**Company Records**").

2. The Cayman Online Registry Information System (CORIS), the Cayman Islands' General Registry's online database, searched on 28 March 2023.

3. A copy of a Certificate of Good Standing dated 28 March 2023 in respect of the Company issued by the Registrar (the "**Certificate of Good Standing**").

4. A copy of the executed written resolutions of the directors of the Company dated 11 July 2022 approving various matter, including the Registration Statement and the Incentive Equity Plan (the "**Resolutions**").

5. Copies of the following documents (the "**Documents**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)a draft Registration Statement on Form S-8 to be filed by the Company with the United States Securities and Exchange Commission registering the Plan Shares under the Securities Act (the "**Registration Statement**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the Incentive Equity Plan.

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## Ex-23

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the ProKidney Corp. 2022 Incentive Equity Plan of our report dated March 28, 2023, with respect to the consolidated financial statements of ProKidney Corp. included in its Annual Report (Form 10-K) for the year ended December 31, 2022, filed with the Securities and Exchange Commission.

Ernst & Young LLP

/s/ Ernst & Young LLP

Raleigh, North Carolina

March 28, 2023

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## Ex-Filing

**Exhibit 107.1**

Calculation of Filing Fee Tables

Form S-8

(Form Type)

ProKidney Corp.

(Exact Name of Registrant as Specified in its Charter)

Newly Registered Securities

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Security Type** | &nbsp;&nbsp;&nbsp;**Security Class Title** | &nbsp;&nbsp;&nbsp;**Fee Calculation Rule** | &nbsp;&nbsp;&nbsp;**Amount Registered (1)** | &nbsp;&nbsp;&nbsp;**Proposed Maximum Offering Price Per Unit** | &nbsp;&nbsp;&nbsp;**Maximum Aggregate Offering Price** | &nbsp;&nbsp;&nbsp;**Fee Rate** | &nbsp;&nbsp;&nbsp;**Amount of Registration Fee** |
| &nbsp;&nbsp;&nbsp;Equity | &nbsp;&nbsp;&nbsp;Class A Ordinary Shares, $0.0001 par value | &nbsp;&nbsp;&nbsp;457(c) and 457(h) | &nbsp;&nbsp;&nbsp;11655928(2) | &nbsp;&nbsp;&nbsp;$12.08 | &nbsp;&nbsp;&nbsp;$140803610.24(3) | &nbsp;&nbsp;&nbsp;$0.00011020 | &nbsp;&nbsp;&nbsp;$15516.56 |
| &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;<u>$140803610.24</u> |  | &nbsp;&nbsp;&nbsp;<u>$15516.56</u> |
| &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** | &nbsp;&nbsp;&nbsp;**Total Fees Previously Paid** |  |  | &nbsp;&nbsp;&nbsp;-- |
| &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** |  |  | &nbsp;&nbsp;&nbsp;-- |
| &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** |  |  | &nbsp;&nbsp;&nbsp;<u>$15516.56</u> |

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(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 any additional securities that may from time to time be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

(2) The number of Class A ordinary shares, par value $0.0001 per share (the "Ordinary Shares") stated above consists of additional Ordinary Shares available for issuance under the ProKidney Corp. 2022 Equity Incentive Plan (the "2022 Plan") by operation of the 2022 Plan's "evergreen" provision. The maximum number of shares registered hereunder which may be sold pursuant to the 2022 Plan is subject to adjustment in accordance with certain anti-dilution and other provisions of the 2022 Plan. Accordingly, pursuant to Rule 416 under the Securities Act, this registration statement covers, in addition to the number of shares stated above, an indeterminate number of shares which may be subject to grant or otherwise issuable after the operation of any such anti-dilution and other provisions.

(3) This calculation is made solely for the purpose of determining the registration fee pursuant to the provisions of Rule 457(c) and (h) under the Securities Act on the basis of the average of the high and low sale prices per Ordinary Shares on The Nasdaq Capital Market as of March 24, 2023, a date within five business days prior to filing this Registration Statement.

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