# EDGAR Filing Document

**Accession Number:** 0001850270
**File Stem:** 0000950170-23-000945
**Filing Date:** 2023-1
**Character Count:** 11216
**Document Hash:** 22c6d8d5bccbecf631982cf424fddb58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-000945.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0000950170-23-000945

**CONFORMED SUBMISSION TYPE**: 424B3

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**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:** 424B3
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-266683
- **FILM NUMBER:** 23538857

**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

**PROSPECTUS SUPPLEMENT NO. 4**

**To Prospectus dated September 8, 2022**

**Filed Pursuant to Rule 424(b)(3)<br>Registration No. 333-266683**

**PROKIDNEY CORP.**

**Up to 239,420,000 Class A Ordinary Shares**

This prospectus supplement no. 4 supplements the prospectus dated September 8, 2022, as supplemented from time to time (the "Prospectus"), relating to (i) the resale from time to time by certain of the selling securityholders named in the Prospectus (the "Selling Securityholders") of 6,890,000 Class A ordinary shares, par value $0.0001 per share ("Class A ordinary shares") of ProKidney Corp. (formerly known as Social Capital Suvretta Holdings Corp. III, "SCS" or the "Company"), collectively held by certain holders of the Company's securities (the "Holders") party to that certain Amended and Restated Registration Rights Agreement, dated as of July 11, 2022, by and among the Company, SCS Sponsor III LLC (the "Sponsor"), and the Holders (the "Amended and Restated Registration Rights Agreement"), their permitted transferees and certain Additional Holders (as defined in the Amended and Restated Registration Rights Agreement); (ii) the resale from time to time of 180,000,000 Class A ordinary shares issued or issuable to former holders of units in ProKidney LP pursuant to that certain Exchange Agreement, dated as of July 11, 2022, by and among the Company, ProKidney LP, and certain holders of the Company's securities party thereto (the "Exchange Agreement"); (iii) the resale from time to time by certain of the Selling Securityholders of 52,480,000 Class A ordinary shares, purchased by certain investors at a purchase price of $10.00 per share, pursuant to subscription agreements with the Company; and (iv) the issuance by us and the resale from time to time by certain of the Selling Securityholders of 50,000 Class A ordinary shares reserved for issuance upon the settlement of restricted stock units.

The Prospectus provides you with a general description of such securities and the general manner in which we and the Selling Securityholders may offer or sell the securities. More specific terms of any securities that we and the Selling Securityholders may offer or sell may be provided in a prospectus supplement that describes, among other things, the specific amounts and prices of the securities being offered and the terms of the offering. The prospectus supplement may also add, update or change information contained in the Prospectus.

We will not receive any proceeds from the sale of Class A ordinary shares by the Selling Securityholders. However, we will pay the expenses, other than any underwriting discounts and commissions, associated with the sale of securities pursuant to the Prospectus.

We registered the securities for resale pursuant to the Selling Securityholders' registration rights under certain agreements between us and the Selling Securityholders. Our registration of the securities covered by the Prospectus does not mean that either we or the Selling Securityholders will issue, offer or sell, as applicable, any of the securities. The Selling Securityholders may offer and sell the securities covered by the Prospectus in a number of different ways and at varying prices. We provide more information about how the Selling Securityholders may sell the shares in the section entitled "Plan of Distribution" in the Prospectus.

This prospectus supplement incorporates into the Prospectus the information contained in our attached current report on Form 8-K, which was filed with the Securities and Exchange Commission on January 19, 2023.

You should read this prospectus supplement in conjunction with the Prospectus, including any supplements and amendments thereto. This prospectus supplement is qualified by reference to the Prospectus except to the extent that the information in the prospectus supplement supersedes the information contained in the Prospectus. This prospectus supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus, including any supplements and amendments thereto.

Our Class A ordinary shares are listed on the Nasdaq Capital Market under the symbol "PROK." On January 19, 2023, the closing price of our Class A ordinary shares was $9.30.

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**Investing in our securities involves a high degree of risk. See "Risk Factors" beginning on page 6 of the Prospectus and in the documents that are incorporated by reference in the Prospectus.** 

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**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement of the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.** 

The date of this prospectus supplement is January 20, 2023.

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**UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>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 17, 2023**<br>

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**PROKIDNEY CORP.**

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-40560** | **98-1586514** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| **2000 Frontis Plaza Blvd.**<br>**Suite 250** |  |  |
| **Winston-Salem, North Carolina** |  | **27103** |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code: 336 999-7029**<br>

**(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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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Class A ordinary shares, $0.0001 par value per share | PROK | The Nasdaq Stock 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

**Short Term Incentive Performance Plan** 

On January 16, 2023, the compensation committee (the "**Compensation Committee**") of the Board of Directors (the "**Board**") of ProKidney Corp. (the "**Company**") established a Short Term Incentive Performance Plan (the "**STI Plan**"), which sets forth the terms of cash incentive bonus opportunities for employees of the Company. The STI Plan is designed to provide a short-term cash incentive opportunity to the Company's employees for the achievement of specific corporate and individual performance goals during each applicable plan year. To be eligible to receive a bonus under the STI Plan, a participant in the plan must be employed by the Company as of both September 30<sup>th</sup> of the applicable plan year and the payment date and must achieve a minimum level of performance.

Under the STI Plan, participating employees are eligible to receive cash bonus awards based on a target expressed as a percentage of the participant's annualized base salary earned during the applicable plan year (subject to a maximum limit of 150% of such participant's base salary), determined based on the achievement of weighted performance measures consisting of the achievement of certain corporate goals for the applicable plan year and an evaluation of individual performance measured against pre-established individual performance goals for the applicable plan year. The Board and/or Compensation Committee will set the corporate goals for each applicable plan year.

The foregoing description of the STI Plan is not complete and is qualified in its entirety by reference to the STI Plan, which is attached hereto as Exhibit 10.1, and is incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits .

The exhibits filed as part of this Current Report on Form 8-K are listed in the index to exhibits immediately preceding the signature page to this Current Report on Form 8-K, which index to exhibits is incorporated herein by reference.

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| | |
|:---|:---|
| **Exhibit No.**  | **Description of Exhibit** |
| 10.1 | [<u>ProKidney Short Term Incentive Performance Plan</u>](https://www.sec.gov/Archives/edgar/data/1850270/000095017023000923/prok-ex10_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within 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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| | | | |
|:---|:---|:---|:---|
|  |  |  | PROKIDNEY CORP. |
| Date: | January 19, 2023 | By:  | /s/ Todd Girolamo |
|  |  |  | Todd Girolamo<br>Chief Legal Officer |

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