# EDGAR Filing Document

**Accession Number:** 0001709626
**File Stem:** 0001193125-25-151430
**Filing Date:** 2025-6
**Character Count:** 15361
**Document Hash:** 394335f68a46443da695fd114d7a3f75
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-151430.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001193125-25-151430

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250627

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NuCana plc
- **CENTRAL INDEX KEY:** 0001709626
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38215
- **FILM NUMBER:** 251087725

**BUSINESS ADDRESS:**
- **STREET 1:** 3 LOCHSIDE WAY
- **CITY:** EDINBURGH
- **STATE:** X0
- **ZIP:** EH12 9DT
- **BUSINESS PHONE:** 44-0-131-357-1111

**MAIL ADDRESS:**
- **STREET 1:** 3 LOCHSIDE WAY
- **CITY:** EDINBURGH
- **STATE:** X0
- **ZIP:** EH12 9DT

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NuCana BioMed Ltd
- **DATE OF NAME CHANGE:** 20170619

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM 6-K** 

**REPORT OF FOREIGN ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16** 

**OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of June 2025** 

**(Commission File No. 001-38215)** 

## NUCANA PLC
**(Translation of registrant's name into English)** 

**3 Lochside Way** 

**Edinburgh EH12 9DT** 

**United Kingdom** 

**(Address of registrant's principal executive office)** 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7): ☐

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**Warrant Cancellation Letter Agreements** 

NuCana plc (the "Company") has entered into letter agreements (the "Letter Agreements"), with the holders (the "Warrant Holders") of the Company's Series A ADS Purchase Warrants (the "Series A Warrants") to purchase American Depositary Shares ("ADSs"), each ADS representing twenty-five (25) ordinary shares, nominal value £0.0004 per share, which Series A Warrants were previously issued in a registered offering on May 7, 2025 pursuant to that certain securities purchase agreement, dated as of May 5, 2025, by and between the Company and the Warrant Holders (the "Securities Purchase Agreement"). Pursuant to the Letter Agreements, the Warrant Holders waived certain restrictions under the Securities Purchase Agreement to permit the Company to, among other things, enter into and make sales under an at-the-market ("ATM") offering, subject to specified conditions (the "ATM Sales Conditions"). The ATM Sales Conditions require the Company to use commercially reasonable efforts to enter into an ATM sales agreement, with a portion of the net proceeds from any sales under the ATM offering used to make pro rata cash payments to the Warrant Holders in consideration for the cancellation of their outstanding Series A Warrants (the "Warrant Cancellation Payments") until such time as no Series A Warrants remain outstanding. As of June 26, 2025, Series A Warrants exercisable to purchase up to 59,481,105 ADSs remain outstanding. Each Warrant Cancellation Payment, which will be equal to 70% of the net proceeds from the ATM offering during the periods specified in the Letter Agreements and will be paid to each Warrant Holder on a pro rata basis based on each Warrant Holder's initial purchase of Series A Warrants. Net proceeds mean the gross proceeds from the ATM offering, less the commissions payable to the sales agents, the reimbursement of expenses payable to the sales agents, and our expenses related to the ATM offering. In consideration of the Warrant Cancellation Payment, the Warrant Holder's number of Warrant Shares (as defined in the Series A Warrants) would be reduced by a number of shares, obtained by dividing the Warrant Cancellation Payment by $0.06 and the corresponding Series A Warrants shall be cancelled by the Company and shall no longer remain outstanding. The Letter Agreements will terminate upon the earlier of (i) the date that no Series A Warrants remain outstanding and (ii) December 31, 2025. However, prior to cancellation, the Warrant Holders may still exercise the Series A Warrants pursuant to the terms thereof. The foregoing description of the Letter Agreements is not complete and is qualified in its entirety by reference to the full text of the Form of Letter Agreement, a copy of which is attached hereto as Exhibit 10.1, and is incorporated herein by reference.

**Termination of Sales Agreement** 

As previously disclosed, in August 2021, we entered into an "at-the-market" (ATM) sales agreement with Jefferies LLC (the "Jefferies Sales Agreement"), pursuant to which we were entitled to sell up to an aggregate of $100.0 million, from time to time through Jefferies LLC acting as our agent in "at-the-market offerings" as defined in Rule 415 of the Securities Act of 1933, as amended. On June 26, 2025, pursuant to and in accordance with Section 7 of the Jefferies Sales Agreement, we notified Jefferies LLC that we are terminating the Jefferies Sales Agreement, effective June 27, 2025. We are not subject to any termination penalties or other expenses related to the termination of the Jefferies Sales Agreement. The foregoing description of the Jefferies Sales Agreement is not complete and is qualified in its entirety by reference to the full text of the Jefferies Sales Agreement, a copy of which was filed as Exhibit 1.2 to our Registration Statement on Form F-3, filed with the U.S. Securities and Exchange Commission on August 19, 2021.

The information in this Form 6-K shall be deemed to be incorporated by reference into the registration statements on Form F-3, as amended (File Number 333-281576) and Form S-8 (File Number 333-223476 and File Number 333-248135), and related prospectuses, as such registration statements and prospectuses may be amended from time to time, and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

**<u>Exhibits</u>**

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 10.1 | [Form of Letter Agreement](d904456dex101.htm) |

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**<u>SIGNATURES</u>**

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, thereto duly authorized.

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| | |
|:---|:---|
| **NuCana plc** | **NuCana plc** |
| By: | /s/ Ian Webster |
| Name: | Ian Webster |
| Title: | Interim Chief Financial Officer |

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Date: June 27, 2025

## Exhibit 10.1

**Exhibit 10.1** 

June 17, 2025

NuCana plc

3 Lochside Way

Edinburgh, EH12 9DT

United Kingdom

Attention: Hugh S. Griffith

**Re: Letter Agreement** 

Ladies and Gentlemen:

Reference is made to (i) that certain Securities Purchase Agreement, dated as of May 5, 2025 (the "**Purchase Agreement**"), by and between NuCana plc (the "**Company**") and the undersigned (each, an "**Investor**" and collectively, the "**Investors**"), pursuant to which the Company sold American Depositary Shares ("**ADSs**"), each ADS representing twenty-five ordinary shares, nominal value £0.0004 per share (the "**Ordinary Shares**"), Pre-Funded Warrants, Series A Warrants (as defined below) and Series B ADS Purchase Warrants, (ii) the Series A ADS Purchase Warrants issued pursuant to the Purchase Agreement by the Company to the Investors on May 7, 2025 (the "**Series A Warrants**"), and (iii) that certain at-the-market sales agreement (the "**ATM Sales Agreement**"), to be entered into by and among the Company and one or more sales agents, with respect to the offer and sale of ADSs from time to time pursuant to an F-3 registration statement filed by the Company (the "**ATM Offering**"). Capitalized terms used but not defined in this letter shall have the meanings ascribed to them in the Purchase Agreement.

Pursuant to Section 4.12(a)(ii) of the Purchase Agreement, the Company may not file any registration statement or amendment or supplement thereto (the "**Registration Statement Restrictions**"), subject to certain limited exceptions. In addition, the Company is subject to the restrictions set forth in Sections 4.12(a)(i) and 4.12(b) of the Purchase Agreement (the "**Subsequent Equity Sale Restrictions**"), subject to certain limited exceptions.

The Investors hereby waive:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Registration Statement Restrictions with respect to the Company filing with the Securities and Exchange
Commission (the "**SEC**") (a) a registration statement on Form F-3 and/or any amendment to a registration statement on Form F-3 and (b) any
prospectus, prospectus supplement or amendment thereto in connection with the ATM Offering and/or any amendment to a registration on Form F-3; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Subsequent Equity Sale Restrictions with respect to (a) entry into the ATM Sales Agreement and any
amendment thereto or side letter related thereto and (b) any sales of the Company's ADSs pursuant to the ATM Offering; provided, however, that in the case of this clause (ii)(b) that the Company is subject to the ATM Sales Conditions (as
defined below).

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The "**ATM Sales Conditions**" mean that (i) the Company shall use commercially reasonable efforts to enter into the ATM Sales Agreement and make sales of its ADSs pursuant to the ATM Offering; and (ii) any applicable Warrant Cancellation Payments (as defined below) shall be paid to the Investors as set forth in the following paragraph.

On the third to last Business Day of each month during the term of this letter agreement, the Company shall provide a notice (the "**Warrant Cancellation Notice**") to each Investor setting forth the (i) amount of Net Proceeds (as defined below) received by the Company since the date of the last Warrant Cancellation Notice (or, in the case of the first Warrant Cancellation Notice, since the date of this letter agreement), (ii) the amount of the Warrant Cancellation Payment (as defined below) payable to each Investor, and (iii) the number of Series A Warrants being cancelled in consideration for the Warrant Cancellation Payment, calculated as described in the paragraph below (the "**Cancelled Warrant Shares**"). The Warrant Cancellation Notice shall be sent to each Investor at the email address set forth in each Investor's signature page to the Purchase Agreement. The Warrant Cancellation (as defined below) shall be effective at 5:00 pm EST on the first Business Day following delivery of the applicable Warrant Cancellation Notice, and, as of such date and time, the Investors may no longer exercise the Series A Warrants identified as cancelled in such Warrant Cancellation Notice. For the avoidance of doubt, if the amount of Net Proceeds reported in any Warrant Cancellation Notice is zero (0), then the Warrant Cancellation Payment and the number of Cancelled Warrant Shares shall also each be zero (0).

Within three Business Days after the date of delivery of the Warrant Cancellation Notice, the Company shall pay the Warrant Cancellation Payment to each Investor pursuant to the wire instructions set forth on each Investor's signature page to this letter agreement. For each Warrant Cancellation Notice, "**Warrant Cancellation Payment**" means an amount equal to 70% of the Net Proceeds specified in such Warrant Cancellation Notice (such that the Company retains 30% of the Net Proceeds specified in any Warrant Cancellation Notice), divided between each Investor on a *pro rata* basis based on such Investor's initial purchase of Series A Warrants, with the number of Cancelled Warrant Shares for each Warrant Cancellation Notice determined by dividing each Investor's *pro rata* Warrant Cancellation Payment by $0.06 (provided, however, that in the event that the applicable Warrant Cancellation Payment to any Investor exceeds the remaining number of outstanding Series A Warrants held by such Investor, then such Investor's Warrant Cancellation Payment shall be reduced so that it does not exceed $0.06 multiped by the Cancelled Warrant Shares underlying such Investors remaining outstanding Series A Warrants). In consideration of each Warrant Cancellation Payment, the Series A Warrants identified as cancelled in the applicable Warrant Cancellation Notice shall be cancelled by the Company (each such cancellation, a "**Warrant Cancellation**") and shall no longer remain outstanding. "**Net Proceeds**" means the gross proceeds from the sales of the ADSs pursuant to the ATM Offering, less the commissions payable to the placement agent(s) for the ATM Offering, the reimbursement of expenses payable to the placement agent(s), and the Company's expenses (including its legal counsel and auditors) related to the ATM Offering.

In connection with the foregoing, each Investor represents and warrants to the Company that the Investor (a) is the sole owner of, and has good and lawful title to, the Series A Warrants free of any lien or encumbrance, except for restrictive legends relating to compliance with the Securities Act and (b) has all requisite authority to enter into this agreement and perform its obligations hereunder, including without limitation with respect to any Warrant Cancellation. Each Investor further acknowledges and agrees that (a) the Series A Warrants may not be sold, transferred, pledged or assigned unless, in addition to the other procedures set forth in the Series A Warrants, the recipient of the Series A Warrants agrees in writing to be subject all of the terms and conditions of this letter agreement as if it were an original party hereto and (b) this letter agreement and the terms and conditions thereof may be disclosed by the Company in its filings with the SEC.

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This letter agreement and all covenants and obligations hereunder shall terminate upon the earlier of (i) such date that no Series A Warrants remain outstanding (whether as a result of the Series A Warrants having been exercised or cancelled, or any combination thereof) and (ii) December 31, 2025. All questions concerning the construction, validity, enforcement and interpretation of this letter agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.

The parties hereto acknowledge and agree that, except for the waivers, consents and agreements set forth above, the surviving obligations under the Series A Warrants and the Purchase Agreement remain unmodified and in full force and effect.

*[Signature Pages Follow]* 

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Very truly yours,

[•]

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Wire Instructions:

[•]

SIGNATURE PAGE TO LETTER AGREEMENT

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Acknowledged and accepted:

NUCANA PLC

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SIGNATURE PAGE TO LETTER AGREEMENT