# EDGAR Filing Document

**Accession Number:** 0001437402
**File Stem:** 0001193125-23-014238
**Filing Date:** 2023-1
**Character Count:** 8491
**Document Hash:** f5cd8ac52413239e44cdfd9e9f3831d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-014238.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001193125-23-014238

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230118

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARDELYX, INC.
- **CENTRAL INDEX KEY:** 0001437402
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36485
- **FILM NUMBER:** 23548477

**BUSINESS ADDRESS:**
- **STREET 1:** 34175 ARDENWOOD BLVD.
- **CITY:** FREMONT
- **STATE:** CA
- **ZIP:** 94555
- **BUSINESS PHONE:** 510-745-7047

**MAIL ADDRESS:**
- **STREET 1:** 34175 ARDENWOOD BLVD.
- **CITY:** FREMONT
- **STATE:** CA
- **ZIP:** 94555

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NTERYX INC
- **DATE OF NAME CHANGE:** 20080611

?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

#### Date of Report (Date of earliest event reported): January 18, 2023

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![LOGO](g402822g0124054650865.jpg)

## ARDELYX, INC.

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

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| | | |
|:---|:---|:---|
| **Delaware** | **001-36485** | **26-1303944** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification Number)** |

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#### 400 FIFTH AVE., SUITE 210, WALTHAM, MASSACHUSETTS 02451

#### (Address of principal executive offices, including Zip Code)

#### Registrant's telephone number, including area code: (510) 745-1700

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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** |
| Common Stock, par value $0.0001 | ARDX | The Nasdaq Global Market |

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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 1.01** | **Entry into a Material Definitive Agreement**  |

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On January 18, 2023, Ardelyx, Inc. (the "Company") entered into an Open Market Sale Agreement<sup>SM</sup> (the "Sales Agreement") with Jefferies LLC ("Jefferies"), pursuant to which the Company may offer and sell shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), having an aggregate offering price of up to $150.0 million from time to time, through an "at the market offering" program under which Jefferies will act as sales agent.

Under the Sales Agreement, the Company will set the parameters for the sale of shares, including the number or dollar value of shares to be issued, the time period during which sales are requested to be made, limitation on the number of shares that may be sold in any one trading day and any minimum price below which sales may not be made. Subject to the terms and conditions of the Sales Agreement, Jefferies may sell the shares by methods deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Jefferies will use commercially reasonable efforts in conducting such sales activities consistent with its normal trading sales practices, on mutually agreed terms between Jefferies and the Company. No assurance can be given that the Company will sell any shares of common stock under the Sales Agreement, or, if it does, as to the price or amount of shares of common stock that it sells or the dates when such sales will take place. The Sales Agreement may be terminated by either party by five trading days' written notice to the other party for any reason, subject to further qualifications as described in the Sales Agreement.

The Sales Agreement provides that Jefferies will be entitled to compensation for its services up to 3.0% of the gross proceeds of any shares sold through Jefferies under the Sales Agreement. Jefferies and the Company have no obligation to sell any shares under the Sales Agreement and may at any time, upon notice to the other party, suspend solicitation and offers under the Sales Agreement.

In the Sales Agreement, the Company agreed to indemnify Jefferies against certain liabilities, including under the Securities Act. Further, Jefferies agreed to indemnify the Company, the Company's board of directors and its executive officers against certain liabilities, including under the Securities Act.

The shares of common stock sold pursuant to the Sales Agreement will be issued pursuant to the Company's shelf registration statement on Form S-3, including the prospectus supplement contained therein, filed with the Securities and Exchange Commission (the "SEC") on January 19, 2023. The registration statement has not yet become effective. No securities may be sold under the registration statement, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective.

The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed herewith as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Jefferies is also the agent under a certain Open Market Sale Agreement, dated August 13, 2021 (the "2021 Sales Agreement"). Under the 2021 Sales Agreement, the Company may offer and sell, from time to time, shares of Common Stock through Jefferies through an "at the market offering" as defined in Rule 415(a)(4) promulgated under the Securities Act.

This Current Report shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

#### Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

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| | |
|:---|:---|
| Exhibit<br>No. | Description |
| 1.1 | [Open Market Sale Agreement<sup>SM</sup>, dated January 18, 2023, by and between Ardelyx, Inc. and Jefferies LLC. (incorporated by reference to Exhibit 1.2 to the Company's Registration Statement on Form S-3 (File No. 333-269297) filed with the Securities and Exchange Commission on January 19, 2023)](http://www.sec.gov/Archives/edgar/data/1437402/000119312523010411/d429337dex12.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, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: January 24, 2023 | ARDELYX, INC. | ARDELYX, INC. |
|  | By: | /s/ Elizabeth Grammer |
|  |  | Elizabeth Grammer |
|  |  | Chief Legal and Administrative Officer |

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