# EDGAR Filing Document

**Accession Number:** 0001787740
**File Stem:** 0001193125-23-030142
**Filing Date:** 2023-2
**Character Count:** 21720
**Document Hash:** 62250cc92b9ac78b9a36bf92012063db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-030142.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001193125-23-030142

**CONFORMED SUBMISSION TYPE**: POS EX

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230209

**EFFECTIVENESS DATE**: 20230209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tivic Health Systems, Inc.
- **CENTRAL INDEX KEY:** 0001787740
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
- **IRS NUMBER:** 814016391
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** POS EX
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-268010
- **FILM NUMBER:** 23606767

**BUSINESS ADDRESS:**
- **STREET 1:** 25821 INDUSTRIAL BLVD., SUITE 100
- **CITY:** HAYWARD
- **STATE:** CA
- **ZIP:** 94545
- **BUSINESS PHONE:** (888)276-6888

**MAIL ADDRESS:**
- **STREET 1:** 25821 INDUSTRIAL BLVD., SUITE 100
- **CITY:** HAYWARD
- **STATE:** CA
- **ZIP:** 94545

**As filed with the Securities and Exchange Commission on February 9, 2023** 

**Registration No. 333-268010** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**POST-EFFECTIVE AMENDMENT NO. 1** 

**TO** 

**FORM S-1** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

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## TIVIC HEALTH SYSTEMS, INC.
**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **3845** | **81-4016391** |
| **(State or Other Jurisdiction of** | **(Primary Standard Industrial** | **(I.R.S. Employer** |
| **Incorporation)** | **Classification Code Number)** | **Identification No.)** |
|  | **25821 Industrial Blvd., Suite 100** |  |
|  | **Hayward, CA 94545** |  |
|  | **(888) 276-6888** |  |

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

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**Jennifer Ernst Chief** 

**Executive Officer Tivic** 

**Health Systems, Inc.** 

**25821 Industrial Blvd., Suite 100** 

**Hayward, CA 94545** 

**(888) 276-6888** 

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

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***Copies to:***

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| | |
|:---|:---|
| **Christopher L. Tinen, Esq.**<br> **Roger C. Rappoport, Esq.**<br> **Procopio, Cory, Hargreaves & Savitch LLP**<br> **Five Palo Alto Square**<br> **3000 El Camino Real, Suite 400**<br> **Palo Alto, CA 94306**<br> **(858) 720-6320** | **Leslie Marlow, Esq.**<br> **Hank Gracin, Esq.**<br> **Patrick J. Egan, Esq.**<br> **Blank Rome LLP**<br> **1271 Avenue of the Americas**<br> **New York, New York 10020**<br> **(212) 885-5358** |

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**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☒ **333-268010**

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 | ☒ |

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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** 

This Post-Effective Amendment No. 1 to the Registration Statement (Registration No. 333-268010) of Tivic Health Systems, Inc. is filed pursuant to Section 462(d) of the Securities Act of 1933, as amended, solely to update Exhibits 5.1 and 5.2 that were previously filed with respect to such Registration Statement in order to account for an increased number of securities. The maximum aggregate offering price of securities being registered pursuant the Registration Statement remains unchanged.

**PART II** 

**INFORMATION NOT REQUIRED IN PROSPECTUS** 

Item 16. Financial Statements and Exhibits

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| | |
|:---|:---|
| Exhibit<br>No. | Description |
| 5.1 | [Opinion of Procopio, Cory, Hargreaves & Savitch LLP.](d458844dex51.htm) |
| 5.2 | [Opinion of Carter Ledyard & Milburn LLP.](d458844dex52.htm) |
| 23.2 | [Consent of Procopio, Cory, Hargreaves & Savitch LLP (included in Exhibit 5.1).](d458844dex51.htm) |
| 23.3 | [Consent of Carter Ledyard & Milburn LLP (included in Exhibit 5.2).](d458844dex52.htm) |
| 24.1 | [Power of Attorney (included on the to the initial filing of this registration statement)](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1787740/000119312522268956/d428933ds1.htm#ii428933_100a) |

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Post-Effective Amendment No. 1 to Registration Statement on Form S-1 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Hayward, State of California, on February 9, 2023.

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| | |
|:---|:---|
|  **TIVIC HEALTH SYSTEMS, INC.** | **TIVIC HEALTH SYSTEMS, INC.** |
|  By: | /s/ Jennifer Ernst |
|  | Jennifer Ernst |
|  | *Chief Executive Officer* |

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Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 1 to Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| **NAME** | **TITLE** | **DATE** |
| /s/ Jennifer Ernst<br> Jennifer Ernst | Chief Executive Officer*<br>(Principal Executive)* | February 9, 2023 |
| /s/ Veronica Cai<br> Veronica Cai | Chief Financial Officer<br> *(Principal Financial and Accounting Officer)* | February 9, 2023 |
| \*<br> Sheryle Bolton | Chair of the Board of Directors | February 9, 2023 |
| \*<br> Karen Drexler | *Director* | February 9, 2023 |
| \*<br> Dean Zikria | *Director* | February 9, 2023 |

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| | |
|:---|:---|
|  \* By: | /s/ Jennifer Ernst |
|  | Jennifer Ernst, Attorney-in-Fact |

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## Exhibit 5.1

**Exhibit 5.1** 

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| | |
|:---|:---|
|  ![LOGO](g458844g0209231357175.jpg)  | PROCOPIO<br> 12544 High Bluff Drive<br> Suite 400<br> San Diego, CA 92130<br> T. 858.720.6300<br> F. 619.235.0398 |
|  | —<br>DEL MAR HEIGHTS<br> LAS VEGAS<br> ORANGE COUNTY<br> PHOENIX<br> SAN DIEGO<br> SILICON VALLEY<br> WASHINGTON DC |

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February 9, 2023

Tivic Health Systems, Inc.

25821 Industrial Blvd., Suite 100

Hayward, CA 94545

Re: <u>Registration Statement on Form S-1 (No. 333-268010)</u>

Ladies and Gentlemen:

We have acted as special counsel to Tivic Health Systems, Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the preparation and filing with the Securities and Exchange Commission ("<u>Commission</u>"), pursuant to the Securities Act of 1933, as amended (the "<u>Act</u>"), of a Registration Statement on Form S-1 (Registration No. 333-268010) (as amended, the "<u>Registration Statement</u>") relating to the registration by the Company of securities of the Company, consisting of (i) 23,000,000 shares (the "<u>Shares</u>") of the Company's common stock, par value $0.0001 per share ("<u>Common Stock</u>"), including Shares for which the Representative (as defined below) has been granted an over-allotment option; (ii) representative's warrants to purchase up to 1,150,000 shares of Common Stock ("<u>Representative's Warrants</u>"), which is equal to 5% of the aggregate Shares that may be sold in the offering, to be issued to the Representative (as defined below) of the several Underwriters (as defined below) as additional compensation pursuant to the Underwriting Agreement (as defined below); and (iii) an aggregate of 1,150,000 shares of Common Stock issuable from time to time upon exercise of the Representative's Warrants (the "<u>Representative's Warrant Shares</u>"). The Shares, Representative's Warrants and Representative's Warrant Shares are collectively referred to as the "<u>Securities</u>."

The Securities are to be sold by the Company pursuant to an underwriting agreement (the "<u>Underwriting Agreement</u>"), dated February 8, 2023, entered into by and between the Company and ThinkEquity LLC, as representative (the "<u>Representative</u>") of the several underwriters named therein (the "<u>Underwriters</u>"), the form of which has been filed as Exhibit 1.1 to the Registration Statement.

The terms "Shares," "Representative's Warrants" and "Representative's Warrant Shares" shall include any additional securities registered by the Company pursuant to Rule 462(b) under the Act in connection with the offering contemplated by the Registration Statement. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related prospectus (the "<u>Prospectus</u>"), other than as expressly stated herein with respect to the sale of the Shares, Representative's Warrants and Representative's Warrant Shares.

![LOGO](g458844g0209231357300.jpg)

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Tivic Health Systems, Inc.

February 9, 2023

In connection with this opinion, we have assumed that the Registration Statement, and any amendments thereto will have become effective and the Securities will be sold in the manner described in the Registration Statement and the Prospectus relating thereto.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. In rendering the opinions expressed below, we have assumed without verification (i) the genuineness of all signatures, (ii) the legal capacity of natural persons, (iii) the authenticity of all documents submitted to us as originals, (iv) the conformity to the originals of all documents submitted to us as copies, and the authenticity of the originals of such copies, and (v) that all records and other information made available to us by the Company on which we have relied are true and complete in all material respects.

We have further assumed that the Securities will be issued and sold in the manner stated in the Registration Statement and in compliance with the applicable provisions of the Act and the rules and regulations of the Commission thereunder, and the securities or blue sky laws of the various states.

The opinions expressed herein are limited to (i) the General Corporation Law of the State of Delaware and (ii) those Federal securities laws, rules, and regulations of the United States of America, which, in our experience, without having made any special investigation as to the applicability of any specific law, rule, or regulation, are typically applicable to transactions of the nature contemplated in this letter. We express no opinion with respect to the laws of any other jurisdiction, any other laws of the State of Delaware, or the statutes, administrative decisions, rules, regulations and requirements of any county, municipality, subdivision or local authority of any jurisdiction.

Various issues concerning the laws of the State of New York, including with respect to the sale and issuance of the Representative's Warrants, are addressed in the opinion of Carter Ledyard & Milburn LLP, separately provided to you. We express no opinion with respect to those matters herein, and to the extent elements of those opinions are necessary to the conclusions expressed herein, we have, with your consent, assumed such matters.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The issuance and sale of the Shares have been duly authorized by all necessary corporate action of the Company,
and when the Shares have been duly issued, sold and delivered by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Registration Statement and Underwriting Agreement, the Shares will be validly
issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of
Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The issuance and sale of the Representative's Warrant Shares have been duly authorized by all necessary
corporate action of the Company, and when the Representative's Warrant Shares have been duly issued and delivered by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Representative's
Warrants and in accordance with the terms thereof, the Representative's Warrant Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable
notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement and to the reference to our firm in the Prospectus under the heading "Legal Matters." We further consent to the incorporation by reference of this letter and consent into any registration statement

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Tivic Health Systems, Inc.

February 9, 2023

filed pursuant to Rule 462(b) with respect to the Securities. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

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| |
|:---|
|  Very truly yours, |
|  */s/ Procopio, Cory, Hargreaves & Savitch LLP* |
|  Procopio, Cory, Hargreaves & Savitch LLP |

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## Exhibit 5.2

**Exhibit 5.2**

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| | |
|:---|:---|
|  ![LOGO](g458844g0209231337022.jpg)  |  |
|  | 28 Liberty Street<br> New York, NY 10005 |

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February 9, 2023

Tivic Health Systems, Inc.

25821 Industrial Blvd.

Suite 100

Hayward, CA 94545

Ladies and Gentlemen:

Tivic Health Systems, Inc., a Delaware corporation (the "<u>Company</u>"), has filed with the Securities and Exchange Commission a Registration Statement on Form S-1 (File No. 333-268010) (as amended, the "<u>Registration Statement</u>"), and the related prospectus (the "<u>Prospectus</u>") under the Securities Act of 1933, as amended (the "<u>Act</u>"), for the purpose of registering securities of the Company, consisting of (i) 23,000,000 shares (the "<u>Shares</u>") of the Company's common stock, par value $0.0001 per share ("<u>Common Stock</u>"), to be issued pursuant to an underwriting agreement (the "<u>Underwriting Agreement</u>"), dated February 8, 2023, entered into by and between the Company and ThinkEquity LLC, as representative of the several underwriters named therein, the form of which has been filed as Exhibit 1.1 to the Registration Statement, including Shares for which the Representative (as defined below) has been granted an over-allotment option; and (ii) representative's warrants to purchase up to 1,150,000 shares of Common Stock ("<u>Representative</u><u>'</u><u>s Warrants</u><u>"</u>), which is equal to 5% of the aggregate Shares that may be sold in the offering, to be issued under a representative's warrant agreement (the "<u>Representative</u><u>'</u><u>s</u> <u>Warrant Agreement</u>") to be entered into by the Company and ThinkEquity LLC, the representative of the underwriters (the "<u>Representative</u>"); and (iii) an aggregate of 1,150,000 shares of Common Stock issuable from time to time upon exercise of the Representative's Warrants (the "<u>Representative</u><u>'</u><u>s Warrant Shares</u>"). The terms "Shares," "Representative's Warrants," and "Representative's Warrant Shares" shall include any additional securities registered by the Company pursuant to Rule 462(b) under the Act in connection with the offering contemplated by the Registration Statement.

We, as your special New York counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for the purpose of rendering this opinion. In rendering the opinions expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all documents filed as exhibits to the Registration Statement that have not been executed will conform to the forms thereof, (iv) all signatures on all documents that we reviewed are genuine, (v) all natural persons executing documents had and have the legal capacity to do so, (vi) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vii) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate.

Based upon the foregoing, and subject to the additional assumptions and qualifications set forth below, we advise you that, in our opinion each Representative's Warrant to be delivered in accordance with the Representative's Warrant Agreement, will be a valid and binding agreement of the Company, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally, concepts of reasonableness and equitable principles of general applicability.

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In connection with the opinion expressed above, we have assumed that at or prior to the time of the issuance of the Representative's Warrants: (i) the Board of Directors of the Company shall have duly established the terms of the Representative's Warrants and duly authorized their issuance and such authorization shall not have been modified or rescinded; (ii) the Company is, and shall remain, validly existing as a corporation under the laws of the State of Delaware; (iii) the Registration Statement shall have been declared effective and such effectiveness shall not have been terminated or rescinded; (iv) the Underwriting and Representative's Warrant Agreements to be entered into in connection with the Representative's Warrants have been duly authorized, executed and delivered by the Company, and are valid, binding and enforceable agreements; and (v) there shall not have occurred any change in law affecting the validity or enforceability of the Representative's Warrants. We have also assumed that the (i) terms of any security whose terms are established subsequent to the date hereof and the issuance, execution, delivery and performance by the Company of any such security (a) require no action by or in respect of, or filing with, any governmental body, agency or official and (b) do not contravene, or constitute a default under, any provision of applicable law or public policy or regulation or any judgment, injunction, order or decree or any agreement or other instrument binding upon the Company and (ii) the Underwriting and Representative's Warrant Agreements will be governed by the laws of the State of New York.

We are members of the Bar of the State of New York and the foregoing opinion is limited to the laws of the State of New York. We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and further consent to the reference to our name under the caption "Legal Matters" in the Prospectus. We further consent to the incorporation by reference of this letter and consent into any registration statement filed pursuant to Rule 462(b) with respect to the Representative's Warrants.

In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Act.

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| |
|:---|
|  Very truly yours, |
|  */s/ Carter Ledyard & Milburn LLP* |
|  Carter Ledyard & Milburn LLP |

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