# EDGAR Filing Document

**Accession Number:** 0001841387
**File Stem:** 0001193125-23-084634
**Filing Date:** 2023-3
**Character Count:** 16908
**Document Hash:** 3f4eb6827ec0b2b73731c13aaf6d1002
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-084634.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001193125-23-084634

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**EFFECTIVENESS DATE**: 20230330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Candel Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001841387
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 522214851
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270967
- **FILM NUMBER:** 23777359

**BUSINESS ADDRESS:**
- **STREET 1:** 117 KENDRICK STREET
- **STREET 2:** SUITE 450
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02494
- **BUSINESS PHONE:** 617-916-5445

**MAIL ADDRESS:**
- **STREET 1:** 117 KENDRICK STREET
- **STREET 2:** SUITE 450
- **CITY:** NEEDHAM
- **STATE:** MA
- **ZIP:** 02494

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Candel Therapeutics, Inic.
- **DATE OF NAME CHANGE:** 20210120

**As filed with the Securities and Exchange Commission on March 30, 2023** 

**Registration No. 333-** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM S-8** 

**REGISTRATION STATEMENT** 

***Under***

***The Securities Act of 1933***

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## CANDEL THERAPEUTICS, INC.
**(Exact name of registrant as specified in its charter)** 

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---

| | |
|:---|:---|
| **Delaware** | **52-2214851** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**117 Kendrick St Suite 450** 

**Needham, MA 02494** 

**(617) 916-5445** 

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

**Candel Therapeutics, Inc. 2021 Stock Option and Incentive Plan** 

**Candel Therapeutics, Inc. 2021 Employee Stock Purchase Plan** 

**(Full title of the plans)** 

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**Paul Peter Tak, M.D., Ph.D.** 

**President and Chief Executive Officer** 

**Candel Therapeutics, Inc.** 

**117 Kendrick St Suite 450** 

**Needham, MA 02494** 

**(617) 916-5445** 

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

***Copies to:***

**William D. Collins, Esq.** 

**Finnbarr D. Murphy, Esq.** 

**Goodwin Procter LLP** 

**100 Northern Avenue** 

**Boston, Massachusetts 02210** 

**(617) 570-1000** 

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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** 

This registration statement on Form S-8 relating to the 2021 Stock Option and Incentive Plan (the "2021 Plan") and the 2021 Employee Stock Purchase Plan ("the "2021 ESPP") (together, the "Plans") of Candel Therapeutics, Inc. is being filed for the purpose of registering additional securities of the same class as other securities for which a registration statement on Form S-8 relating to the Plans has previously been filed and is effective. Accordingly, pursuant to General Instruction E, the information contained in the registrant's registration statement on Form S-8 (File Nos. [333-258279](http://www.sec.gov/Archives/edgar/data/1841387/000119312521229431/d108620ds8.htm) and [333-263961](http://www.sec.gov/Archives/edgar/data/1841387/000119312522088290/d341159ds8.htm)) is hereby incorporated by reference and made a part of this registration statement, except as presented below in Part II, Item 8. Exhibits.

**Part II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 8.** **Exhibits.** <br>

**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Form of Amended and Restated Certificate of Incorporation (Incorporated by reference to Exhibit 3.2 to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-257444)).](http://www.sec.gov/Archives/edgar/data/1841387/000119312521216891/d120909dex32.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 | [Form of Amended and Restated Bylaws (Incorporated by reference to Exhibit 3.4 to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-257444)).](http://www.sec.gov/Archives/edgar/data/1841387/000119312521216891/d120909dex34.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 | [Second Amended and Restated Investors' Rights Agreement (Incorporated by reference to Exhibit 4.2 to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-257444)).](http://www.sec.gov/Archives/edgar/data/1841387/000119312521200639/d120909dex42.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1\* | [Opinion of Goodwin Procter LLP.](d491613dex51.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;23.1\* | [Consent of KPMG LLP, Independent Registered Public Accounting Firm.](d491613dex231.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;23.2\* | [Consent of Goodwin Procter LLP (included in Exhibit 5.1).](d491613dex51.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;24.1\* | [Power of Attorney (included on signature page).](#sig) |
| &nbsp;&nbsp;&nbsp;&nbsp;99.1 | [2021 Stock Option and Incentive Plan and forms of award agreements thereunder (Incorporated by reference to Exhibit 10.2 to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-257444)).](http://www.sec.gov/Archives/edgar/data/1841387/000119312521216891/d120909dex102.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;99.2 | [2021 Employee Stock Purchase Plan (Incorporated by reference to Exhibit 10.4 to the Registrant's Registration Statement on Form S-1, as amended (File No. 333-257444)).](http://www.sec.gov/Archives/edgar/data/1841387/000119312521216891/d120909dex104.htm) |
| 107\* | [Filing Fee Table.](d491613dexfilingfees.htm) |

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\* Filed herewith.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Needham, State of Massachusetts, on this 30th day of March, 2023.

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| | |
|:---|:---|
| **CANDEL THERAPEUTICS, INC.** | **CANDEL THERAPEUTICS, INC.** |
| By: | /s/ Paul Peter Tak |
|  | Name: Paul Peter Tak, M.D., Ph.D.<br> Title: President and Chief Executive Officer |

---

**POWER OF ATTORNEY AND SIGNATURES** 

KNOW ALL BY THESE PRESENT, that each individual whose signature appears below hereby constitutes and appoints each of Paul Peter Tak, M.D., Ph.D. and Jason A. Amello, as such person's true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for such person in such person's name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission granting unto each said attorney-in-fact and agent 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 such person might or could do in person, hereby ratifying and confirming all that any said attorney-in-fact and agent, or any substitute or substitutes of any of them, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following person in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Title** | **Date** |
| /s/ Paul Peter Tak | President, Chief Executive Officer and Director | March 30, 2023 |
| Paul Peter Tak, M.D., Ph.D. | *Principal Executive Officer* |  |
| /s/ Jason A. Amello | Chief Financial Officer | March 30, 2023 |
| Jason A. Amello | *Principal Financial Officer and Principal Accounting Officer* |  |
| /s/ Paul B. Manning | Director | March 30, 2023 |
| Paul B. Manning | Director | March 30, 2023 |
| /s/ Estuardo Aguilar-Cordova | Director | March 30, 2023 |
| Estuardo Aguilar-Cordova, M.D., Ph.D. | Director | March 30, 2023 |
| /s/ Edward J. Benz, Jr. | Director | March 30, 2023 |
| Edward J. Benz, Jr., M.D. | Director | March 30, 2023 |
| /s/ Renee Gaeta | Director | March 30, 2023 |
| Renee Gaeta | Director | March 30, 2023 |

---

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| | | |
|:---|:---|:---|
| /s/ Christopher Martell | Director | March 30, 2023 |
| Christopher Martell | Director | March 30, 2023 |
| /s/ Joseph C. Papa | Director | March 30, 2023 |
| Joseph C. Papa | Director | March 30, 2023 |
| /s/ Diem Nguyen | Director | March 30, 2023 |
| Diem Nguyen, Ph.D., M.B.A. | Director | March 30, 2023 |
| /s/ Gary J. Nabel | Director | March 30, 2023 |
| Gary J. Nabel, M.D., Ph.D. | Director | March 30, 2023 |

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## Exhibit 5.1

**EXHIBIT 5.1** 

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| | |
|:---|:---|
| ![LOGO](g491613g0329102801876.jpg) | Goodwin Procter LLP<br> 100 Northern Avenue<br> Boston, MA 02210<br> goodwinlaw.com<br> +1 617 570 1000 |

---

March 30, 2023

Candel Therapeutics, Inc.

117 Kendrick St, Suite 450

Needham, MA 02494

Re: <u>Securities Being Registered under Registration Statement on Form S-8</u>

We have acted as counsel to you in connection with your filing of a Registration Statement on Form S-8 (the "Registration Statement") pursuant to the Securities Act of 1933, as amended (the "Securities Act"), on or about the date hereof relating to an aggregate of 1,452,120 shares (the "Shares") of Common Stock, $0.01 par value per share ("Common Stock"), of Candel Therapeutics, Inc., a Delaware corporation (the "Company"), that may be issued pursuant to the Company's 2021 Stock Option and Incentive Plan and 2021 Employee Stock Purchase Plan (collectively, the "Plans").

We have reviewed such documents and made such examination of law as we have deemed appropriate to give the opinions set forth below. We have relied, without independent verification, on certificates of public officials and, as to matters of fact material to the opinion set forth below, on certificates of officers of the Company.

The opinion set forth below is limited to the Delaware General Corporation Law.

For purposes of the opinion set forth below, we have assumed that no event occurs that causes the number of authorized shares of Common Stock available for issuance by the Company to be less than the number of then unissued Shares.

Based on the foregoing, we are of the opinion that the Shares have been duly authorized and, upon issuance and delivery against payment therefor in accordance with the terms of the Plans, will be validly issued, fully paid and nonassessable.

This opinion letter and the opinion it contains shall be interpreted in accordance with the Core Opinion Principles as published in 74 Business Lawyer 815 (Summer 2019).

We hereby consent to the inclusion of this opinion as Exhibit 5.1 to the Registration Statement. In giving our consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.

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| |
|:---|
| Very truly yours, |
| /s/ Goodwin Procter LLP |
| GOODWIN PROCTER LLP |

---

## Exhibit 23.1

Exhibit 23.1

**Consent of Independent Registered Public Accounting Firm** 

We consent to the use of our report dated March 30, 2023, with respect to the consolidated financial statements of Candel Therapeutics, Inc. incorporated herein by reference.

/s/ KPMG LLP

Boston, Massachusetts

March 30, 2023

## Ex-Filing

**Exhibit 107** 

**CALCULATION OF REGISTRATION FEE** 

<u>Form S-8</u>

(Form Type)

**<u>Candel Therapeutics, Inc.</u>**

(Exact name of registrant as specified in its charter)

Newly Registered Securities

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Security**<br> **Type** | **Security Class Title** | **Fee Calculation<br>Rule** | **Amount<br>Registered(1)** | **Proposed<br>Maximum<br>Offering Price<br>Per Share** | **Maximum<br>Aggregate<br>Offering Price** | **Fee Rate** | **Amount of<br>Registration<br>Fee** |
| &nbsp;&nbsp;&nbsp;Equity | Common Stock, $0.01 par value per share, 2021 Stock Option and Incentive Plan | Rule 457(c) and Rule 457(h) | 1161696(3) | $1.4550(2) | $1690267.68 | $0.0001102 | $186.27 |
| &nbsp;&nbsp;&nbsp;Equity | Common Stock, $0.01 par value per share, 2021 Employee Stock Purchase Plan | Rule 457(c) and Rule 457(h) | 290424(4) | $1.2368(5) | $359196.41 | $0.0001102 | $39.59 |
| &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** | &nbsp;&nbsp;&nbsp;**Total Offering Amounts** |  | $2049464.09 |  | $225.86  |
| &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 Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** | &nbsp;&nbsp;&nbsp;**Total Fee Offsets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** | &nbsp;&nbsp;&nbsp;**Net Fee Due** |  |  |  | $225.86 |

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(1) Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"), this
Registration Statement shall also cover any additional shares of the Registrant's common stock, $0.01 par value per share (the "Common Stock"), which become issuable under the under the 2021 Stock Option and Incentive Plan (the
"2021 Plan") and the 2021 Employee Stock Purchase Plan (the "2021 ESPP") by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the receipt of consideration which results
in an increase in the number of the Registrant's outstanding shares of Common Stock.

(2) The price of $1.4550 per share, which is the average of the high and low sale prices of the common stock on the
Nasdaq Global Market on March 28, 2023, is set forth solely for purposes of calculating the registration fee pursuant to Rules 457(c) and (h) of the Securities Act.

(3) Represents an automatic increase to the number of shares available for issuance under the 2021 Plan of
1,161,696, effective as of January 1, 2023. Shares available for issuance under the 2021 Plan were previously registered on a registration statement on Form S-8 filed with the Securities and Exchange
Commission on July 29, 2021 (File No. 333-258279) and a registration statement on Form S-8 filed with the Securities and Exchange Commission on March 29,
2022 (File No. 333-263961).

(4) Represents an automatic increase to the number of shares available for issuance under the 2021 ESPP of 290,424,
effective as of January 1, 2023. Shares available for issuance under the 2021 ESPP were previously registered on registration statements on Form S-8 filed with the Securities and Exchange Commission on
July 29, 2021 (File No. 333-258279) and a registration statement on Form S-8 filed with the Securities and Exchange Commission on March 29, 2022 (File No. 333-263961).

(5) The price of $1.2368 per share, which is based on 85% of $1.4550, the average of the high and low sale prices
of the common stock on the Nasdaq Global Market on March 28, 2023, is set forth solely for purposes of calculating the registration fee pursuant to Rules 457(c) and (h) of the Securities Act. Pursuant to the 2021 ESPP, the purchase price
of the shares of common stock reserved for issuance thereunder will be 85% of the fair market value of a share of common stock on the first business day of the offering period or on the last business day of the offering period, whichever is less.