Trupanion, Inc. (NASDAQ:TRUP) Files An 8-K Entry into a Material Definitive Agreement

Trupanion, Inc. (NASDAQ:TRUP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.

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Entry into a Material Definitive Agreement.

On June 21, 2018, Trupanion, Inc., a Delaware corporation (the “Company”), entered into an Underwriting Agreement (the “Underwriting Agreement”) with Stifel, Nicolaus & Company, Incorporated, acting as representative of the underwriters named therein (the “Underwriters”) relating to the issuance and sale of 1,818,182 shares of the Company’s common stock, par value $0.00001 per share (the “Offering”). The price to the public in the Offering is $33.00 per share, before underwriting discounts and commissions. Under the terms of the Underwriting Agreement, the Company has granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional 272,727 shares of common stock. The net proceeds to the Company from the Offering are expected to be approximately $57.1 million, after deducting underwriting discounts and commissions and estimated Offering expenses payable by the Company, assuming no exercise by the Underwriters of its option to purchase additional shares of common stock, or approximately $65.6 million if the Underwriters exercise their option to purchase additional shares in full. The transactions contemplated by the Underwriting Agreement are expected to close on June 25, 2018, subject to the satisfaction of customary closing conditions.

The Offering is being made to the Company’s automatic shelf registration statement on Form S-3 (File No. 333-225760), which became effective on June 20, 2018, as supplemented by a preliminary and final prospectus supplement thereunder, filed with the Securities and Exchange Commission to Rule 424(b) under the Securities Act of 1933, as amended (the “Securities Act”).

The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriter, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. A copy of the Underwriting Agreement is filed as Exhibit 1.1 to this Current Report and is incorporated herein by reference. The foregoing description of the terms of the Underwriting Agreement is qualified in its entirety by the Underwriting Agreement.

The legal opinion, including the related consent, of DLA Piper LLP (US) relating to the legality of the issuance and sale of the shares of the Company’s common stock in the Offering is filed as Exhibit 5.1 to this Current Report.

This Current Report contains forward-looking statements that involve risk and uncertainties, such as statements related to the anticipated closing of the Offering and the amount of net proceeds expected from the Offering. The risks and uncertainties involved include the Company’s ability to satisfy certain conditions to closing on a timely basis or at all, as well as other risks detailed from time to time in the Company’s Securities and Exchange Commission filings.

On June 20, 2018, the Company issued a press release announcing that it had commenced the Offering, and on June 21, 2018, the Company issued a press release announcing that it had priced the Offering. Copies of these press releases are attached as Exhibits 99.1 and 99.2 hereto, respectively.

Item 1.01Financial Statements and Exhibits.


The following exhibits are filed with this Current Report:

Exhibit No.


Underwriting Agreement, dated June 21, 2018, by and between Trupanion, Inc. and Stifel, Nicolaus & Company, Incorporated.

Opinion of DLA Piper LLP (US)

Press Release, dated June 20, 2018

Press Release, dated June 21, 2018

EX-1.1 2 ex11-ua.htm EXHIBIT 1.1 Exhibit Exhibit 1.1Execution Version1,…
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About Trupanion, Inc. (NASDAQ:TRUP)

Trupanion, Inc. provides a medical insurance plan for cats and dogs across the United States, Canada and Puerto Rico. The Company operates through two segments: subscription business and other business. The subscription business segment includes monthly subscriptions related to the Company’s medical plan, which are marketed directly to consumers. The other business segment includes all other businesses that are not directly marketed to consumers. The Company’s medical plan pays approximately 90% of actual veterinary costs for accident and illness claims, has no payout limitations, and can be used to cover the costs incurred at any veterinary practice, emergency care center or specialty hospital in the United States, Canada and Puerto Rico. The Company’s software solution, Trupanion Express, integrates with veterinarians’ practice management software. Trupanion Express facilitates the Company’s ability to pay veterinarians’ invoices directly to the veterinarian at the time of service.

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