Securities Registration: Employee Benefit Plan (s-8)
June 22 2020 - 1:37PM
Edgar (US Regulatory)
Registration No. ______________
As filed with the Securities and Exchange
Commission on June 22, 2020
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
BiondVax Pharmaceuticals
Ltd.
(Exact name of registrant as specified in its charter)
State
of Israel
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|
Not
Applicable
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(State or other jurisdiction
of
|
|
(I.R.S. Employer Identification
No.)
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incorporation or organization)
|
|
|
BiondVax Pharmaceuticals Ltd.
Jerusalem BioPark, 2nd Floor
Hadassah Ein Kerem Campus
Jerusalem, Israel
Tel: +972-8-930-2529
Fax: +972-8-930-2531
(Address of Principal Executive Offices)
The 2005 Israeli Share Option Plan
(Full title of the plan)
The 2018 Israeli Share Option Plan
(Full title of the plan)
Puglisi & Associates
850 Library Avenue, Suite 204
Newark, Delaware
(Name and address of agent
for service)
+1 (302) 738-6680
(Telephone number, including area code, of agent for service)
Copies to:
Perry Wildes
Joshua Ravitz
Gross, Kleinhendler,
Hodak, Halevy,
Greenberg, Shenhav
& Co.
One Azrieli Center
Tel Aviv 6701101,
Israel
+972 (3) 607-4444
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.
Large
Accelerated Filer ☐
|
Accelerated
Filer ☐
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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. ☐
CALCULATION OF REGISTRATION FEE
Title
of securities to be registered
|
|
Amount
to be
registered(1)
|
|
|
Proposed maximum
offering
price
per share
|
|
|
Proposed maximum
aggregate
offering
price
|
|
|
Amount of
registration
fee
|
|
Ordinary
shares, no par value, deposited as American Depositary Shares represented by American Depositary Receipts(2)
|
|
|
5,763,920
|
(3)
|
|
$
|
0.468
|
(4)
|
|
$
|
2,697,514.56
|
|
|
$
|
350.14
|
|
Ordinary shares,
no par value, deposited as American Depositary Shares represented by American Depositary Receipts(2)
|
|
|
1,726,680
|
(5)
|
|
$
|
0.468
|
(6)
|
|
$
|
808,086.24
|
|
|
$
|
104.89
|
|
Ordinary shares,
no par value, deposited as American Depositary Shares represented by American Depositary Receipts(2)
|
|
|
22,509,400
|
(7)
|
|
$
|
0.2375
|
(8)
|
|
$
|
5,345,982.50
|
|
|
$
|
693.91
|
|
Total
|
|
|
30,000,000
|
|
|
|
|
|
|
$
|
8,851,583.30
|
|
|
$
|
1,148.94
|
|
|
(1)
|
Pursuant to Rule
416(a) under the Securities Act of 1933, as amended (the “Securities Act”),
this registration statement shall also cover any additional ordinary shares, no par value
(“Ordinary Shares”) of BiondVax Pharmaceutical Ltd. (the “Company”)
that become issuable under the 2005 Israeli Share Option Plan and the 2018 Israeli Share
Option Plan (collectively, the “Plan”) by reason of any stock dividend, stock
split, or other similar transaction.
|
|
(2)
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American Depositary
Shares (“ADSs”), evidenced by American Depositary Receipts, issuable upon
deposit of the Ordinary Shares registered hereby, are registered on a separate registration
statement on Form F-6 (File No. 333-203333). Each ADS represents forty (40) Ordinary
Shares.
|
|
(3)
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Represents the number
of additional Ordinary Shares reserved for future issuance under the Plan.
|
|
(4)
|
Estimated solely
for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h)
under the Securities Act, and based on the average of the high and low prices of the
ADSs as reported on The Nasdaq Capital Market on June 11, 2020.
|
|
(5)
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Represents Ordinary
Shares issuable upon the vesting and settlement of outstanding restricted share units
granted under the Plan.
|
|
(6)
|
Estimated solely
for purposes of calculating the registration fee pursuant to Rules 457(c) and 457(h)
under the Securities Act, and based on the average of the high and low prices of the
Ordinary Shares as reported on The Nasdaq Capital Market on June 11, 2020.
|
|
(7)
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Represents Ordinary
Shares issuable upon exercise of outstanding options with fixed exercise prices under
the Plan, with a weighted average exercise price of $5.72 per ADS.
|
|
(8)
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Estimated solely
for purposes of calculating the registration fee pursuant to Rule 457(h) under the Securities
Act and based on the weighted average price at which such options may be exercised.
|
PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
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ITEM 1.
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PLAN
INFORMATION.*
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ITEM 2.
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REGISTRANT
INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION. *
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*
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Information required
by Part I to be contained in the Section 10(a) prospectus is omitted from this registration
statement in accordance with Rule 428 under the Securities Act of 1933, as amended, or
the Securities Act, and the Introductory Note to Part I of Form S-8.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
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ITEM 3.
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INCORPORATION
OF DOCUMENTS BY REFERENCE
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The following documents
filed with or furnished to the Securities and Exchange Commission (the “Commission”) by BiondVax Pharmaceuticals
Ltd., a company organized under the laws of Israel (the “Company” or the “Registrant”),
are incorporated herein by reference and made a part hereof:
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(a)
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the Company’s Annual Report
for the year ended December 31, 2019 on Form 20-F filed with the Commission on June 12,
2020;
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(b)
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the Company’s reports on Form
6-K furnished to the Commission on January 13, 2020, January 16, 2020, February 5, 2020,
February 10, 2020, February 25, 2020, March 19, 2020, March 24, 2020, April 30, 2020,
May 4, 2020, May 20, 2020, June 10, 2020 and June 12, 2020.
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(c)
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the description of the Company’s
American Depositary Shares, each representing forty (40) ordinary shares, no par value,
included in the registration statement on Form 8-A filed on April 20, 2015 (File
No. 001-37353) under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), including any amendment or report filed for the purpose of updating
such description.
|
All documents or reports
subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, and to the extent designated
therein, certain reports on Form 6-K, furnished by the Company, after the date of this Registration Statement and prior to the
filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all
securities offered hereby then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement
and to be part hereof from the date of filing of such documents or reports. Any statement in a document or report incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed document or report which also is
or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
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ITEM 4.
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DESCRIPTION OF SECURITIES
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Not applicable.
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ITEM 5.
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INTERESTS OF NAMED EXPERTS AND COUNSEL
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Not applicable.
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ITEM 6.
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INDEMNIFICATION OF DIRECTORS AND
OFFICERS
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Under the Israeli Companies
Law, 5759-1999, or the Israeli Companies Law, a company may not exculpate an office holder from liability for a breach of the
duty of loyalty. An Israeli company may exculpate an office holder in advance from liability to the company, in whole or in part,
for damages caused to the company as a result of a breach of duty of care but only if a provision authorizing such exculpation
is included in its articles of association. Our amended and restated articles of association include such a provision. The
company may not exculpate in advance a director from liability arising from a breach of his or her duty of care in connection
with a prohibited dividend or distribution to shareholders.
As permitted under the
Israeli Companies Law, our amended and restated articles of association provide that we may indemnify an office holder in respect
of the following liabilities, payments and expenses incurred for acts performed by him or her as an office holder, either in advance
of an event or following an event:
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●
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a
monetary liability incurred by or imposed on the office holder in favor of another person
pursuant to a court judgment, including pursuant to a settlement confirmed as judgment
or arbitrator’s decision approved by a competent court. However, if an undertaking
to indemnify an office holder with respect to such liability is provided in advance,
then such an undertaking must be limited to events which, in the opinion of the board
of directors, can be foreseen based on the company’s activities when the undertaking
to indemnify is given, and to an amount or according to criteria determined by the board
of directors as reasonable under the circumstances, and such undertaking shall detail
the abovementioned foreseen events and amount or criteria;
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●
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reasonable litigation expenses,
including reasonable attorneys’ fees, which were incurred by the office holder
as a result of an investigation or proceeding filed against the office holder by an authority
authorized to conduct such investigation or proceeding, provided that such investigation
or proceeding was (i) concluded without the filing of an indictment against such office
holder and without the imposition on him of any monetary obligation in lieu of a criminal
proceeding, (ii) concluded without the filing of an indictment against the office holder
but with the imposition of a monetary obligation on the office holder in lieu of criminal
proceedings for an offense that does not require proof of criminal intent, or (iii) in
connection with a monetary sanction;
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●
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reasonable litigation expenses,
including attorneys’ fees, incurred by the office holder or which were imposed
on the office holder by a court (i) in a proceeding instituted against him or her by
the company, on its behalf, or by a third party, (ii) in connection with criminal indictment
of which the office holder was acquitted, or (iii) in a criminal indictment of which
the office holder was convicted of an offense that does not require proof of criminal
intent;
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●
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expenses he or she incurs
as a result of administrative proceedings that may be instituted against him or her under
Israeli securities laws, if applicable, and payments made to injured persons under specific
circumstances thereunder; and
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●
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any other matter in respect
of which it is permitted or will be permitted under applicable law to indemnify an office
holder in the company.
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As permitted under the
Israeli Companies Law, our amended and restated articles of association provide that we may insure an office holder against the
following liabilities incurred for acts performed by him or her as an office holder:
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●
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a breach of the duty of loyalty
to the company, provided that the office holder acted in good faith and had a reasonable
basis to believe that the act would not harm the company;
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|
●
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a breach of duty of care to
the company or to another person, to the extent such a breach arises out of the negligent
conduct of the office holder;
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●
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a monetary liability imposed
on the office holder in favor of a third party;
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●
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expenses he or she incurs
as a result of administrative proceedings that may be instituted against him or her under
the Israeli securities laws if applicable, and payments made to injured persons under
specific circumstances thereunder; and
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●
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any other matter in respect
of which it is permitted or will be permitted under applicable law to insure the liability
of an office holder in the company.
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Under the Israeli Companies
Law, a company may not indemnify, exculpate or insure an office holder against any of the following:
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●
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a breach of the duty of loyalty,
except for indemnification and insurance for a breach of the duty of loyalty to the company
to the extent that the office holder acted in good faith and had a reasonable basis to
believe that the act would not prejudice the company;
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|
●
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a breach of duty of care committed
intentionally or recklessly, excluding a breach arising out of the negligent conduct
of the office holder;
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●
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an act or omission committed
with intent to derive illegal personal benefit; or
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●
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a fine or forfeit levied against
the office holder.
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Under the Israeli Companies
Law, exculpation, indemnification and insurance of office holders must be approved by the compensation committee and the board
of directors and, with respect to directors or controlling shareholders, their relatives and third parties in which controlling
shareholders have a personal interest, also by the shareholders.
Our articles of association
permit us to exculpate, indemnify and insure our office holders to the fullest extent permitted or to be permitted by law. The
Company has obtained directors’ and officers’ liability insurance for the benefit of its office holders and intends
to continue to maintain such coverage and pay all premiums thereunder up to to the fullest extent permitted by the Israeli Companies
Law.
In addition, we have entered
into agreements with each of our directors and executive officers exculpating them, to the fullest extent permitted by law and
our articles of association, and undertaking to indemnify them to the fullest extent permitted by law and our articles of association.
This indemnification is limited to events determined as foreseeable by the board of directors based on our activities, and to
an amount or according to criteria determined by the board of directors as reasonable under the circumstances. The maximum indemnification
amount set forth in such agreements is limited to an amount which shall not exceed 25% of our net assets based on our most recently
audited or reviewed financial statements prior to actual payment of the indemnification amount. Such maximum amount is in addition
to any amount paid (if paid) under insurance and/or by a third-party pursuant to an indemnification arrangement. In the opinion
of the SEC, indemnification of directors and office holders for liabilities arising under the Securities Act of 1933, however,
is against public policy and therefore unenforceable.
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ITEM 7.
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EXEMPTION FROM REGISTRATION CLAIMED
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Not applicable.
See Exhibit Index following
the signature page.
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(a)
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The undersigned Registrant hereby
undertakes:
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(1)
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To file, during any period in
which offers or sales are being made, a post-effective amendment to this registration
statement:
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(i)
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to include any prospectus required
by Section 10(a)(3) of the Securities Act;
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(ii)
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to reflect in the prospectus
any facts or events arising after the effective date of the Registration Statement (or
the most recent post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in the Registration Statement;
and
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(iii)
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to include any material information
with respect to the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration Statement;
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provided, however, that
paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13
or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement;
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(2)
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That,
for the purpose of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
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(3)
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To remove from registration by
means of a post-effective amendment any of the securities being registered which remain
unsold at the termination of the offering.
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(b)
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The undersigned Registrant hereby
undertakes that, for purposes of determining any liability under the Securities Act,
each filing of the Registrant’s annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated
by reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
|
|
(c)
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Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to directors, officers
and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by
a director, officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit
to a court of appropriate jurisdiction the question whether such indemnification by it
is against public policy as expressed in the Securities Act and will be governed by the
final adjudication of such issue.
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EXHIBIT INDEX
Exhibit
Number
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|
Description
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4.1
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Amended and Restated Articles of Association of the Registrant (incorporated by reference to Exhibit 1.1 of the annual report on Form 20-F filed with the Securities and Exchange Commission on June 12, 2020).
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5.1
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Opinion of Pearl Cohen Zedek Latzer Baratz.
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5.2
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Opinion of Gross, Kleinhendler, Hodak, Halevy, Greenberg, Shenhav & Co.
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23.1
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Consent of Pearl Cohen Zedek Latzer Baratz (included in Exhibit 5.1).
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23.2
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Consent of Gross, Kleinhendler, Hodak, Halevy, Greenberg, Shenhav & Co. (included in Exhibit 5.2).
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23.3
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Consent of Kost Forer Gabbay and Kasirer, Certified Public Accountant (Isr.), a member of Ernst & Young Global.
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24.1
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Power of Attorney (included on signature page).
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99.1
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|
The 2005 Israeli Share Option Plan (incorporated by reference to Exhibit 4.1 of the annual report on Form 20-F filed with the Securities and Exchange Commission on June 12, 2020).
|
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99.2
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|
The 2018 Israeli Share Option Plan (incorporated by reference to Exhibit 4.2 of the annual report on Form 20-F filed with the Securities and Exchange Commission on June 12, 2020).
|
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 City of Jerusalem, State of Israel, on this 22nd day of June, 2020.
|
BiondVax Pharmaceuticals
Ltd.
|
|
|
|
|
By:
|
/s/
Ron Babecoff
|
|
|
Ron Babecoff
|
|
|
Chief Executive
Officer
|
POWER OF ATTORNEY
KNOW ALL BY THESE PRESENTS,
that each individual whose signature appears below constitutes and appoints Ron Babecoff and Uri Ben Or, and each of them, his
true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him and in his name, place
and stead, in any and all capacities, to sign this registration statement and any and all future amendments (including post-effective
amendments) to the registration statement, and to file the same with all exhibits thereto, and all documents in connection therewith,
with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, and each of them, 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 he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or any
of them, or their or his substitute, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements
of the Securities Act of 1933, as amended this registration statement has been signed by the following persons in the capacities
and on the dates indicated:
Signatures
|
|
Title
|
|
Date
|
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|
|
|
/s/
Mark Germain
|
|
Chairman of the Board of Directors
|
|
June 22, 2020
|
Mark Germain
|
|
|
|
|
|
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|
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/s/
Ron Babecoff
|
|
Chief Executive Officer and
Director
|
|
June 22, 2020
|
Ron Babecoff
|
|
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/s/
Uri Ben Or
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|
Chief Financial Officer
|
|
June 22, 2020
|
Uri Ben Or
|
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/s/
Avner Rotman
|
|
Director
|
|
June 22, 2020
|
Avner Rotman
|
|
|
|
|
|
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/s/
Yael Margolin
|
|
Director
|
|
June 22, 2020
|
Yael Margolin
|
|
|
|
|
|
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/s/
George H. Lowell
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|
Director
|
|
June 22, 2020
|
George H. Lowell
|
|
|
|
|
|
|
|
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/s/
Morris Laster
|
|
Director
|
|
June 22, 2020
|
Morris Laster
|
|
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/s/
Ruth Ben Yakar
|
|
Director
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|
June 22, 2020
|
Ruth Ben Yakar
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/s/
Issac Devash
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|
Director
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June 22, 2020
|
Issac Devash
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/s/
Adi Raviv
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|
Director
|
|
June 22, 2020
|
Adi Raviv
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|
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/s/
Samuel Moed
|
|
Director
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|
June 22, 2020
|
Samuel Moed
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Puglisi &
Associates
|
|
Authorized U.S.
Representative
|
|
|
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By:
|
/s/
Donald Puglisi
|
|
Name:
|
Donald Puglisi
|
|
Title:
|
Managing Director
|
|
|
|
|
June 22, 2020
|
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