Item 8.01. Other Events.
ATM Prospectus Supplement
On March 3, 2022, Arbutus Biopharma Corporation (the "Company") filed a
prospectus supplement (the "March 2022 Prospectus Supplement") under: (i) a
shelf registration statement on Form S-3 (File No. 333-235674) that was declared
effective by the Securities and Exchange Commission (the "SEC") on January 10,
2020 (the "January 2020 Registration Statement"); (ii) a shelf registration
statement on Form S-3 (File No. 333-248467) that was declared effective by the
SEC on October 22, 2020 (the "October 2020 Registration Statement"); and (iii) a
shelf registration statement on Form S-3 (File No. 333-260782) that was declared
effective by the SEC on November 18, 2021 (the "November 2021 Registration
Statement," and, together with the January 2020 Registration Statement and the
October 2020 Registration Statement, the "Registration Statements") in
connection with the offer and sale of up to $100.0 million of the Company's
common shares, without par value (the "Common Shares"), from time to time
pursuant to the previously executed Open Market Sale AgreementSM, dated December
20, 2018, with Jefferies LLC, as sales agent, as amended by Amendment No. 1,
dated December 20, 2019, Amendment No. 2, dated August 7, 2020 and Amendment No.
3, dated March 4, 2021 (as amended, the "Sale Agreement").
The Company previously filed a prospectus supplement with the SEC (the "October
2021 Prospectus Supplement" and, together with the March 2022 Prospectus
Supplement, the "Prospectus Supplements") in connection with the offering of up
to $75.0 million of its Common Shares pursuant to the Sale Agreement under the
October 2020 Registration Statement. As of the date hereof, the Company has sold
an aggregate of approximately $23.0 million of its Common Shares under the
October 2021 Prospectus Supplement. Immediately following the filing of the
March 2022 Prospectus Supplement, the Company had an aggregate of approximately
$152.0 million of remaining capacity under the Prospectus Supplements.
The Common Shares to be offered and sold pursuant to the Sale Agreement are
registered pursuant to the Registration Statements, and offerings for the Common
Shares to be offered and sold pursuant to the Sale Agreement will be made only
by means of the Prospectus Supplements, as applicable. This Current Report on
Form 8-K shall not constitute an offer to sell or the solicitation of an offer
to buy the Common Shares nor shall there be any sale of the Common Shares 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 other jurisdiction.
The legal opinion of Farris LLP relating to the legality of the issuance and
sale of the Common Shares pursuant to the March 2022 Prospectus Supplement is
attached as Exhibit 5.1 to this Current Report on Form 8-K and is incorporated
by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
5.1 Opinion of Farris LLP.
23.1 Consent of Farris LLP (included in Exhibit 5.1).
104 Cover page interactive data file (formatted as inline XBRL).
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