Amended Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k/a)
18 Febbraio 2022 - 11:02PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K/A
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
For
the month of February 2022
Commission
File Number: 001-40106
4D
pharma plc
(Translation
of Registrant’s name into English)
5th
Floor, 9 Bond Court
Leeds
LS1
2JZ
United
Kingdom
Tel:
+44 (0)
113 895 013
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of 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): ____
EXPLANATORY
NOTE
4d
pharma plc. (the “Company,” “4D,” “4D pharma,” “we,” “us” or “our”)
is furnishing this Amendment No. 1 to its report on Form 6-K originally furnished to the Securities and Exchange Commission (the “SEC”)
on October 1, 2021 in relation to its restatement of its Unaudited Condensed Consolidated Interim
Financial Statements as of June 30, 2021 and for the six-months ended June 30, 2021 and to amend the related Management’s Discussion
and Analysis of Financial Condition and Results of Operations for the six months ended June 30, 2021.
The
Company has determined that the warrants and units assumed by the Company in connection with its March 2021 merger with Longevity Acquisition
Corporation should not be recorded as equity instruments, and in accordance with US Generally Accepted Accounting Principles, “US
GAAP,” should be recorded as derivative liabilities. While the issues identified are non-cash, and do not impact the cash and cash
equivalents, the Company is obligated to restate the unaudited interim consolidated financial statements for the six months period ending
June 30, 2021. The Company’s audited financial statements for the year ended December 31, 2020 are not affected.
As
previously reported under GAAP, the Company had concluded that the warrants and units were indexed to its own stock and were equity based.
According to Accounting Standards Codification “ASC” 815-40-15-71, equity linked financial instruments issued with a strike
price denominated in a currency (USD$) different than the Company’s functional currency (GBP£) incurs an exposure to changes
in currency exchange rates and thus cannot be indexed to the Company’s stock. Therefore, the Company has corrected this issue and
will report the warrants and units as derivative liabilities.
The
issues disclosed herein are an accounting technicality and were identified by the Company during the ongoing preparation of its audited
financial statements for the year ended December 31, 2021. The restatements do not impact the Company’s cash and cash equivalents,
revenues, operating expenses, operating loss, assets, or liquidity for the affected period.
A
copy of the Company’s Restated Unaudited Condensed Consolidated Interim Financial Statements
as of June 30, 2021 and for the six-months ended June 30, 2021 is attached hereto as Exhibit 99.1 and incorporated herein by reference
and a copy of the Company’s Restated Management’s Discussion and Analysis of Financial Condition and Results of Operations
for the six months ended June 30, 2021 is attached hereto as Exhibit 99.2 and incorporated herein by reference.
EXHIBITS
INDEX
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, thereunto duly authorized.
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4D
pharma plc |
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Date:
February 18, 2022 |
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/s/
Duncan Peyton |
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Duncan
Peyton |
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Chief
Executive Officer |
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