<SEC-DOCUMENT>0001140361-20-024552.txt : 20201104
<SEC-HEADER>0001140361-20-024552.hdr.sgml : 20201104
<ACCEPTANCE-DATETIME>20201104164132
ACCESSION NUMBER:		0001140361-20-024552
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20201104
DATE AS OF CHANGE:		20201104
EFFECTIVENESS DATE:		20201104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MACROGENICS INC
		CENTRAL INDEX KEY:			0001125345
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-249851
		FILM NUMBER:		201287268

	BUSINESS ADDRESS:	
		STREET 1:		9704 MEDICAL CENTER DRIVE
		CITY:			Rockville
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-251-5172

	MAIL ADDRESS:	
		STREET 1:		9704 MEDICAL CENTER DRIVE
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>nt10016582x1_s3asr.htm
<DESCRIPTION>S-3ASR
<TEXT>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 540pt;"><a name="nt10016582x1_s3asr_100-regcov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 540pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 25pt; text-align: center;">As filed with the Securities and Exchange Commission on November&#160;4, 2020 </div><div class="regno" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 1pt; text-align: right;">Registration No. 333-&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; </div></div></div><div class="block-frill" style="width: 540pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div><div class="block-main" style="width: 540pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">UNITED STATES <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">SECURITIES AND EXCHANGE COMMISSION <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">WASHINGTON, D.C. 20549 </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 3pt; text-align: center;">FORM S-3 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">REGISTRATION STATEMENT <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 8.5pt; font-style: italic;">UNDER </font><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 8.5pt; font-style: italic;">THE SECURITIES ACT OF 1933</font><font style="font-size: 8.5pt; font-weight: normal;"> </font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 2pt; text-align: center;">MACROGENICS, INC. <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;"><font style="font-size: 8.5pt;">(Exact name of registrant as specified in its charter)</font><font style="font-size: 8.5pt; font-weight: normal;"> </font></div><table cellspacing="0" cellpadding="0" class="txttab" style="border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 48.89%; text-align: center; vertical-align: top; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Delaware</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 48.89%; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">06-1591613</div></td></tr><tr><td style="width: 48.89%; text-align: center; vertical-align: top; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(State or other jurisdiction of<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">incorporation or organization)</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 48.89%; text-align: center; vertical-align: bottom; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(I.R.S. Employer<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Identification Number)</div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">9704 Medical Center Drive<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Rockville, MD 20850<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(301) 251-5172 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(Address, including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices) </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 1pt; text-align: center;">Scott Koenig, M.D., Ph.D.<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">President and Chief Executive Officer<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">9704 Medical Center Drive<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Rockville, MD 20850<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(301) 251-5172 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(Name, address, including zip code, and telephone number, including area code, of agent for service)<font style="font-weight: normal;"> </font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 1pt; text-align: center;">Copies to:<font style="font-weight: normal;"> </font></div><table cellspacing="0" cellpadding="0" class="txttab" style="border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 48.89%; text-align: center; vertical-align: top; padding-top: 6pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Jeffrey Peters <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Vice President and General Counsel <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">9704 Medical Center Drive <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Rockville, MD 20850 <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(301) 251-5172</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt;">&#8203;</td><td style="width: 48.89%; text-align: center; vertical-align: bottom; padding-top: 6pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Eric Blanchard<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Brian Leaf<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Madison Jones <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">Cooley LLP <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">55 Hudson Yards <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">New York, NY 10001<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 0pt; text-align: center;">(212) 479-6000</div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 3pt; margin-left: 0pt; text-align: left;">Approximate date of commencement of proposed sale to the public:<font style="font-weight: normal;"> From time to time after the effective date of this Registration Statement. </font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: left;">If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box: <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box: &#x2612;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. &#x2612;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 1pt; margin-left: 0pt; text-align: justify;">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 &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act. </div><table cellspacing="0" cellpadding="0" class="txttab" style="border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 44.44%; text-align: left; vertical-align: top; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Large accelerated filer</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#x2612;</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 44.44%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Accelerated filer</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 1pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;<font style="font-size: 8.5pt;">&#x2610;</font></div></td></tr><tr><td style="width: 44.44%; text-align: left; vertical-align: top; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Non-accelerated filer</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 1pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;<font style="font-size: 8.5pt;">&#x2610;</font></div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 44.44%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Smaller reporting company</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 1pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;<font style="font-size: 8.5pt;">&#x2610;</font></div></td></tr><tr><td style="width: 44.44%; text-align: left; vertical-align: top; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 44.44%; text-align: left; vertical-align: bottom; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Emerging growth company</div></td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 1.11%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 2.22%; text-align: left; vertical-align: bottom; padding-top: 1.5pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 1pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;<font style="font-size: 8.5pt;">&#x2610;</font></div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 3pt; margin-left: 0pt; text-align: justify;">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. <font style="font-size: 1pt;">&#8201;</font>&#x2610;</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; font-weight: bold; margin-top: 1pt; text-align: center;">CALCULATION OF REGISTRATION FEE<font style="font-weight: normal;"> </font></div><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 2pt;"> </div></div><table cellspacing="0" cellpadding="0" class="regtab" style="margin-top: 1.5pt; border-collapse: collapse; width: 540pt; margin-left: auto; margin-right: auto; border-top: 1pt solid #000000; border-bottom: 1pt solid #000000;"><tr class="header"><td style="width: 57.78%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Title of Each Class of<br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Securities to be Registered</div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;">&#8203;</td><td style="width: 20%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Proposed Maximum<br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Aggregate Offering Price<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div></td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;">&#8203;</td><td class="gutter" style="width: 0.56%; font-size: 2pt; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;">&#8203;</td><td style="width: 20%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6.5pt; padding-bottom: 2.75pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Amount of<br></div><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Registration Fee</div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 2.75pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Primary Offering of Securities:<br></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 2.75pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 2.75pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.75pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 2.75pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 2.75pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 2.75pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Common Stock, par value $0.01 per share<font style="padding-left: 2.6pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;"><font style="padding-left: 46.75pt; position: relative; top: -3.5pt;">(2)</font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;"><font style="padding-left: 27.63pt; position: relative; top: -3.5pt;">(3)</font></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Preferred Stock, par value $0.01 per share<font style="padding-left: 2.63pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;"><font style="padding-left: 46.75pt; position: relative; top: -3.5pt;">(2)</font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;"><font style="padding-left: 27.63pt; position: relative; top: -3.5pt;">(3)</font></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Debt Securities<font style="padding-left: 2.01pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;"><font style="padding-left: 46.75pt; position: relative; top: -3.5pt;">(2)</font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;"><font style="padding-left: 27.63pt; position: relative; top: -3.5pt;">(3)</font></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Warrants<font style="padding-left: 4.41pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;"><font style="padding-left: 46.75pt; position: relative; top: -3.5pt;">(2)</font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;"><font style="padding-left: 27.63pt; position: relative; top: -3.5pt;">(3)</font></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Units<font style="padding-left: 1.46pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;"><font style="padding-left: 46.75pt; position: relative; top: -3.5pt;">(2)</font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 6.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;"><font style="padding-left: 27.63pt; position: relative; top: -3.5pt;">(3)</font></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Primary Offering of Common Stock:<br></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt;">&#160;</div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 10pt; text-align: left;">Common Stock<font style="padding-left: 1.04pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;">$100,000,000</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt; padding-bottom: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt; padding-bottom: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;">$10,910<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div></td></tr><tr><td style="width: 57.78%; text-align: left; vertical-align: bottom; padding-top: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total <font style="padding-left: 4.7pt;"></font></div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 30.63pt; text-align: left;">$100,000,000</div></td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; border-right: 1pt solid #000000; padding-top: 1.5pt;">&#8203;</td><td class="gutter" style="width: 0.56%; border-bottom: none; font-size: 2pt; padding-top: 1.5pt;">&#8203;</td><td style="width: 20%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 1.5pt;"><div class="calc" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8.5pt; margin-top: 0pt; margin-left: 40.19pt; text-align: left;">$10,910</div></td></tr></table><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 3pt;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">An indeterminate number or amount, as the case may be, of securities are being registered hereunder as may from time to time be issued at indeterminate prices. The debt securities being registered hereunder may be convertible into or exchangeable or exercisable for other securities, and may be sold separately or in combination with the other securities registered hereunder. In addition to the securities that may be offered and sold directly under this registration statement, there is being registered hereunder such indeterminate aggregate number or amount, as the case may be, of the securities as may from time to time be issued upon the conversion, exchange, settlement or exercise of other securities offered hereby. Separate consideration may or may not be received for securities that are issuable upon the conversion or exercise of, or in exchange for, other securities offered hereby. </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 1pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(2)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Omitted pursuant to General Instruction II.E of Form S-3.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 1pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(3)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Pursuant to Rules 456(b) and 457(r) under the Securities Act, the Registrant is deferring payment of all applicable registration fees. Any registration fees will be paid subsequently on a pay-as-you-go basis in accordance with Rule 457(r).</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 1pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(4)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">Calculated pursuant to Rule 457(o) and Rule 457(r) under the Securities Act.</div></td></tr></table></div><div class="block-frill" style="width: 540pt; margin-top: 12pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_101-cov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">EXPLANATORY NOTE</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">This registration statement contains two prospectuses:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a base prospectus, which covers the offering, issuance and sale of the registrant&#8217;s common stock, preferred stock, debt securities, warrants and units; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a sales agreement prospectus supplement, which covers the offering, issuance and sale of up to $100,000,000 of the registrant&#8217;s shares of common stock that may be issued and sold under the sales agreement (the &#8220;Sales Agreement&#8221;) dated November&#160;4, 2020 between the registrant and Cowen and Company, LLC.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The base prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus will be specified in a prospectus supplement to the base prospectus. The sales agreement prospectus supplement immediately follows the base prospectus. </div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 456pt;"><a name="nt10016582x1_s3asr_101-cov_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 456pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PROSPECTUS </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 32.25pt; text-align: center;"><img style="height: 95px; width: 171px;" src="logo_macrogenics.jpg"><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201; <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 32.5pt; text-align: center;">MACROGENICS, INC.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 18.5pt; text-align: center;">Common Stock<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 0pt; text-align: center;">Preferred Stock<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 0pt; text-align: center;">Debt Securities<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 0pt; text-align: center;">Warrants<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 0pt; text-align: center;">Units </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12.5pt; text-align: center;"><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-top: 12pt; display: inline-block; margin-left: auto; margin-right: auto;"> </div> <br></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 24pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may offer and sell from time to time, in one or more series or issuances and on terms that we will determine at the time of the offering, any combination of the securities described in this prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will provide specific terms of any offering in a supplement to this prospectus. Any prospectus supplement may also add, update, or change information contained in this prospectus. You should carefully read this prospectus and the applicable prospectus supplement as well as the documents incorporated or deemed to be incorporated by reference in this prospectus before you purchase any of the securities offered hereby.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">These securities may be offered and sold in the same offering or in separate offerings; to or through underwriters, dealers, and agents; or directly to purchasers. The names of any underwriters, dealers, or agents involved in the sale of our securities, their compensation and any over-allotment options held by them will be described in the applicable prospectus supplement. For a more complete description of the plan of distribution of these securities, see the section entitled &#8220;Plan of Distribution&#8221; beginning on page <a href="#bPOD">20</a> of this prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our common stock is listed on The Nasdaq Global Select Market under the symbol &#8220;MGNX.&#8221; We will provide information in any applicable prospectus supplement regarding any listing of securities other than shares of our common stock on any securities exchange. </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 14.5pt; text-align: center;"><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-top: 12pt; display: inline-block; margin-left: auto; margin-right: auto;"> </div> <br></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 24pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Investing in our securities involves significant risks. See &#8220;Risk Factors&#8221; beginning on page <a href="#bRISK">2</a> of this prospectus and in the applicable prospectus supplement before investing in any securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.<font style="font-weight: normal;"> </font></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 14.5pt; text-align: center;"><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-top: 12pt; display: inline-block; margin-left: auto; margin-right: auto;"> </div> <br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 50.5pt; text-align: center;">The date of this prospectus is November&#160;4, 2020</div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_102-toc_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">TABLE OF CONTENTS</div><a name="TOC"><!--Anchor--></a><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 10.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 2.09%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 3.51%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Page</div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bABOUTP">ABOUT THIS PROSPECTUS<font style="padding-left: 4.33pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bABOUTP"><font style="padding-left: 4.44pt;">ii</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bABOUTM">ABOUT MACROGENICS, INC.<font style="padding-left: 3.61pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bABOUTM"><font style="padding-left: 5pt;">1</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bRISK">RISK FACTORS<font style="padding-left: 4.32pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bRISK"><font style="padding-left: 5pt;">2</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bSNRFLS">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS<font style="padding-left: 0.19pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bSNRFLS"><font style="padding-left: 5pt;">3</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bUOP">USE OF PROCEEDS<font style="padding-left: 0.07pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bUOP"><font style="padding-left: 5pt;">4</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bSWMO">SECURITIES WE MAY OFFER<font style="padding-left: 4.33pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bSWMO"><font style="padding-left: 5pt;">5</font></a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bPOD">PLAN OF DISTRIBUTION<font style="padding-left: 3.98pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bPOD">20</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bLEGAL">LEGAL MATTERS<font style="padding-left: 3.22pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bLEGAL">22</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bEXPERT">EXPERTS<font style="padding-left: 1.77pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bEXPERT">22</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bWYCFMI">WHERE YOU CAN FIND MORE INFORMATION<font style="padding-left: 3.84pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bWYCFMI">22</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#bIBR">INCORPORATION BY REFERENCE<font style="padding-left: 1.57pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.22pt; text-align: left;"><a href="#bIBR">22</a></div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">i<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_102-toc_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bABOUTP"><!--Anchor--></a>ABOUT THIS PROSPECTUS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission, which we refer to as the &#8220;SEC&#8221; or the &#8220;Commission,&#8221; utilizing a &#8220;shelf&#8221; registration process. Under this shelf registration process, we may, from time to time, sell any combination of the securities described in this prospectus in one or more offerings.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus provides you with a general description of the securities we may offer. Each time we sell securities pursuant to this prospectus, we will provide one or more prospectus supplements that will contain specific information about the terms of the offering. The specific terms of the offered securities may vary from the general terms of the securities described in this prospectus, and accordingly the description of the securities contained in this prospectus is subject to, and qualified by reference to, the specific terms of the offered securities contained in the applicable prospectus supplement. The prospectus supplement may also add, update or change information contained in this prospectus. You should carefully read both this prospectus and the accompanying prospectus supplement together with the additional information described under the heading &#8220;Where You Can Find More Information&#8221; beginning on page <a href="#bWYCFMI">22</a> of this prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">You should rely only on the information contained in or incorporated by reference in this prospectus, any accompanying prospectus supplement or in any related free writing prospectus filed by us with the SEC. We have not authorized anyone to provide you with different information. We take no responsibility for, and can provide no assurance as to the reliability of, any information that others may provide. This prospectus and any accompanying prospectus supplement do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus or such accompanying prospectus supplement or an offer to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information in this prospectus, any applicable prospectus supplement, any free writing prospectus and any information in documents that we have incorporated by reference is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may have changed materially since those dates.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless the context otherwise indicates, references in this prospectus to &#8220;the Company,&#8221; &#8220;we,&#8221; &#8220;our&#8221; and &#8220;us&#8221; refer, collectively, to MacroGenics, Inc., a Delaware corporation, and its consolidated subsidiaries.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">ii<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_103-about_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bABOUTM"><!--Anchor--></a>ABOUT MACROGENICS, INC.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We are a clinical-stage biopharmaceutical company focused on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, as well as autoimmune disorders and infectious diseases. We generate our pipeline of product candidates primarily from our proprietary suite of next-generation antibody-based technology platforms. The combination of our technology platforms and protein engineering expertise has allowed us to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our principal executive offices are located at 9704 Medical Center Drive, Rockville, MD 20850, and our telephone number is (301) 251-5172. Our website address is www.macrogenics.com. We make available on or through our website certain reports and amendments to those reports that we file with, or furnish to, the SEC in accordance with the Securities Exchange Act of 1934, as amended, or the Exchange Act. These include our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act. We make this information available on or through our website free of charge as soon as reasonably practicable after we electronically file the information with, or furnish it to, the SEC. The information contained on, or that can be accessed through, our website is not a part of, and should not be construed as being incorporated by reference into, this prospectus or the accompanying prospectus supplement.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">1<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_103-about_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bRISK"><!--Anchor--></a>RISK FACTORS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">An investment in our securities involves a high degree of risk. The prospectus supplement applicable to each offering of our securities will contain a discussion of the risks applicable to an investment in our securities. Prior to making a decision about investing in our securities, you should carefully consider the specific factors discussed under the heading &#8220;Risk Factors&#8221; in the applicable prospectus supplement, together with all of the other information contained or incorporated by reference in the prospectus supplement or appearing or incorporated by reference in this prospectus. You should also consider the risks, uncertainties and assumptions discussed under Item 1A, &#8220;Risk Factors,&#8221; in our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019 and any updates described in our Quarterly Reports on Form 10-Q, all of which are incorporated herein by reference, and may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future and any prospectus supplement related to a particular offering. The risks and uncertainties we have described are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our operations. The occurrence of any of these known or unknown risks might cause you to lose all or part of your investment in the offered securities.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">2<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_103-about_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bSNRFLS"><!--Anchor--></a>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus, including the information incorporated by reference in this prospectus, contains &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include statements that may relate to our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. Forward-looking statements can often be identified by the use of terminology such as &#8220;subject to,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;could,&#8221; &#8220;can,&#8221; &#8220;seek,&#8221; the negatives thereof, variations thereon and similar expressions, or by discussions of strategy.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">All forward-looking statements, including, without limitation, our examination of historical operating trends, are based upon our current expectations and various assumptions. We believe there is a reasonable basis for our expectations and beliefs, but they are inherently uncertain. We may not realize our expectations, and our beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements. The following uncertainties and factors, among others, could affect future performance and cause actual results to differ materially from those matters expressed in or implied by forward-looking statements:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the severity and duration of the impact of the COVID-19 global pandemic on our business, operations, clinical programs, manufacturing, financial results and other aspects of our business;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our plans to develop and commercialize our product candidates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the outcomes of our ongoing and planned clinical trials and the timing of those outcomes, including when clinical trials will be initiated or completed, and when data will be reported or regulatory filings will be made;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the timing of and our ability to obtain and maintain regulatory approvals for our product candidates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our estimates regarding expenses, future revenue, capital requirements and needs for additional financing;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our ability to raise additional capital through the capital markets or through one or more corporate partnerships, equity offerings, debt financings, collaborations, licensing arrangements or asset sales;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our ability to enter into new collaborations or to identify additional products or product candidates with significant commercial potential that are consistent with our commercial objectives;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the potential benefits and future operation of our existing collaborations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to recover the investment in our manufacturing capabilities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the rate and degree of market acceptance and clinical utility of our products;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our commercialization, marketing and manufacturing capabilities and strategy;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">significant competition in our industry;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">costs of litigation and the failure to successfully defend lawsuits and other claims against us;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">economic, political and other risks associated with our international operations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to receive research funding and achieve anticipated milestones under our collaborations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to protect and enforce patents and other intellectual property;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">costs of compliance and our failure to comply with new and existing governmental regulations including, but not limited to, tax regulations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">loss or retirement of key members of management;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">failure to successfully execute our growth strategy, including any delays in our planned future growth; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 5pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our failure to maintain effective internal controls.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Consequently, forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. You should not place undue reliance on forward-looking statements. We cannot guarantee future results, events, levels of activity, performance or achievements. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">3<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_103-about_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bUOP"><!--Anchor--></a>USE OF PROCEEDS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We intend to use the net proceeds from the sale of any securities offered under this prospectus for general corporate purposes unless otherwise indicated in the applicable prospectus supplement. General corporate purposes may include advancing our clinical pipeline, developing facilities, repayment and refinancing of debt, if any, working capital and capital expenditures. We have not determined the amount of net proceeds to be used specifically for such purposes. As a result, management will retain broad discretion over the allocation of net proceeds. We will set forth in the applicable prospectus supplement or free writing prospectus our intended use for the net proceeds received from the sale of any securities sold pursuant to the prospectus supplement or free writing prospectus.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">4<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bSWMO"><!--Anchor--></a>SECURITIES WE MAY OFFER</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus contains summary descriptions of the securities we may offer from time to time. These summary descriptions are not meant to be complete descriptions of each security. The particular terms of any securities will be described in the applicable prospectus supplement.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 19pt; text-align: center;">Description of Capital Stock</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The following description of our capital stock is intended as a summary only and therefore is not a complete description of our capital stock. This description is based upon, and is qualified by reference to, our restated certificate of incorporation, our by-laws and applicable provisions of Delaware corporate law. You should read our restated certificate of incorporation and by-laws, which are filed as exhibits to the registration statement of which this prospectus forms a part, for the provisions that are important to you.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our authorized capital stock consists of 125,000,000 shares of common stock, par value $0.01 per share, and 5,000,000 shares of preferred stock, par value $0.01 per share. As of September&#160;30, 2020, 56,174,932 shares of common stock were outstanding and no shares of preferred stock were outstanding.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 19pt; margin-left: 0pt; text-align: left;">Common Stock</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Voting Rights<font style="font-style: normal;">. Holders of our common stock are entitled to one vote for each share held on all matters submitted </font><font style="font-style: normal;">to a vote of stockholders and do not have cumulative voting rights. An election of directors by our stockholders shall </font><font style="font-style: normal;">be determined by a plurality of the votes cast by the stockholders entitled to vote on the election. Subject to the </font><font style="font-style: normal;">supermajority votes for some matters, other matters shall be decided by the affirmative vote of our stockholders </font><font style="font-style: normal;">having a majority in voting power of the votes cast by the stockholders present or represented and voting on such </font><font style="font-style: normal;">matter. Our restated certificate of incorporation and by-laws also provide that our directors may be removed only for </font><font style="font-style: normal;">cause by the affirmative vote of the holders of at least 75% of the votes that all our stockholders would be entitled </font><font style="font-style: normal;">to cast in any annual election of directors. In addition, the affirmative vote of the holders of at least 75% of the votes </font><font style="font-style: normal;">that all of our stockholders would be entitled to cast in any annual election of directors is required to amend or repeal </font><font style="font-style: normal;">or to adopt any provisions inconsistent with any of the provisions of our restated certificate of incorporation described </font><font style="font-style: normal;">below under &#8220;Provisions of Our Restated Certificate of Incorporation and By-laws and Delaware Law That May </font><font style="font-style: normal;">Have Anti-Takeover Effects-Removal of Directors&#8221; and &#8220;-Stockholder Action by Written Consent; Special </font><font style="font-style: normal;">Meetings.&#8221;</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends<font style="font-style: normal;">. Holders of common stock are entitled to receive proportionately any dividends as may be declared </font><font style="font-style: normal;">by our board of directors, subject to any preferential dividend rights of any outstanding preferred stock.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Liquidation and Dissolution<font style="font-style: normal;">. In the event of our liquidation or dissolution, the holders of common stock are </font><font style="font-style: normal;">entitled to receive proportionately all assets available for distribution to stockholders after the payment of all debts </font><font style="font-style: normal;">and other liabilities and subject to the prior rights of any outstanding preferred stock.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Other Rights. <font style="font-style: normal;">Holders of common stock have no preemptive, subscription, redemption or conversion rights. The </font><font style="font-style: normal;">rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the </font><font style="font-style: normal;">rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Transfer Agent and Registrar. <font style="font-style: normal;">Computershare Trust Company, Inc. is the transfer agent and registrar for our </font><font style="font-style: normal;">common stock.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Listing on The Nasdaq Global Select Market. <font style="font-style: normal;">Our common stock is listed on The Nasdaq Global Select Market </font><font style="font-style: normal;">under the symbol &#8220;MGNX&#8221;.</font></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 19pt; margin-left: 0pt; text-align: left;">Preferred Stock</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We are authorized to issue &#8220;blank check&#8221; preferred stock, which may be issued in one or more series upon authorization of our board of directors. Our board of directors is authorized to fix the designation of the series, the number of authorized shares of the series, dividend rights and terms, conversion rights, voting rights, redemption rights and terms, liquidation preferences and any other rights, powers, preferences and limitations applicable to each series of preferred stock. The authorized shares of our preferred stock are available for issuance without further action by our stockholders, unless such action is required by applicable law or the rules of any stock exchange on which our securities may be listed. If the approval of our stockholders is not required for the issuance of shares of our </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">5<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">preferred stock, our board may determine not to seek stockholder approval. The specific terms of any series of preferred stock offered pursuant to this prospectus will be described in the prospectus supplement relating to that series of preferred stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">A series of our preferred stock could, depending on the terms of such series, impede the completion of a merger, tender offer or other takeover attempt. Our board of directors will make any determination to issue preferred shares based upon its judgment as to the best interests of our stockholders. Our directors, in so acting, could issue preferred stock having terms that could discourage an acquisition attempt through which an acquirer may be able to change the composition of our board of directors, including a tender offer or other transaction that some, or a majority, of our stockholders might believe to be in their best interests or in which stockholders might receive a premium for their stock over the then-current market price of the stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The preferred stock has the terms described below unless otherwise provided in the prospectus supplement relating to a particular series of preferred stock. You should read the prospectus supplement relating to the particular series of preferred stock being offered for specific terms, including:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation and stated value per share of the preferred stock and the number of shares offered;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the amount of liquidation preference per share;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the price at which the preferred stock will be issued;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the dividend rate, or method of calculation of dividends, the dates on which dividends will be payable, whether dividends will be cumulative or noncumulative and, if cumulative, the dates from which dividends will commence to accumulate;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any redemption or sinking fund provisions;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if other than the currency of the United States, the currency or currencies including composite currencies in which the preferred stock is denominated and/or in which payments will or may be payable;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any conversion provisions; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other rights, preferences, privileges, limitations and restrictions on the preferred stock.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The preferred stock will, when issued, be fully paid and non-assessable. Unless otherwise specified in the prospectus supplement, each series of preferred stock will rank equally as to dividends and liquidation rights in all respects with each other series of preferred stock. The rights of holders of shares of each series of preferred stock will be subordinate to those of our general creditors.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Rank<font style="font-style: normal;">. Unless otherwise specified in the prospectus supplement, the preferred stock will, with respect to dividend </font><font style="font-style: normal;">rights and rights upon our liquidation, dissolution or winding up of our affairs, rank:</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">senior to our common stock and to all equity securities ranking junior to such preferred stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up of our affairs;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">on a parity with all equity securities issued by us, the terms of which specifically provide that such equity securities rank on a parity with the preferred stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up of our affairs; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">junior to all equity securities issued by us, the terms of which specifically provide that such equity securities rank senior to the preferred stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up of our affairs.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The term &#8220;equity securities&#8221; does not include convertible debt securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends.<font style="font-style: normal;"> Holders of the preferred stock of each series will be entitled to receive, when, as and if declared by </font><font style="font-style: normal;">our board of directors, cash dividends at such rates and on such dates described in the prospectus supplement. </font><font style="font-style: normal;">Different series of preferred stock may be entitled to dividends at different rates or based on different methods of </font><font style="font-style: normal;">calculation. The dividend rate may be fixed or variable or both. Dividends will be payable to the holders of record </font><font style="font-style: normal;">as they appear on our stock books on record dates fixed by our board of directors, as specified in the applicable </font><font style="font-style: normal;">prospectus supplement.</font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">6<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Dividends on any series of preferred stock may be cumulative or noncumulative, as described in the applicable prospectus supplement. If our board of directors does not declare a dividend payable on a dividend payment date on any series of noncumulative preferred stock, then the holders of that noncumulative preferred stock will have no right to receive a dividend for that dividend payment date, and we will have no obligation to pay the dividend accrued for that period, whether or not dividends on that series are declared payable on any future dividend payment dates. Dividends on any series of cumulative preferred stock will accrue from the date we initially issue shares of such series or such other date specified in the applicable prospectus supplement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">No dividends may be declared or paid or funds set apart for the payment of any dividends on any parity securities unless full dividends have been paid or set apart for payment on the preferred stock. If full dividends are not paid, the preferred stock will share dividends pro rata with the parity securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">No dividends may be declared or paid or funds set apart for the payment of dividends on any junior securities unless full dividends for all dividend periods terminating on or prior to the date of the declaration or payment will have been paid or declared and a sum sufficient for the payment set apart for payment on the preferred stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Liquidation Preference<font style="font-style: normal;">. Upon any voluntary or involuntary liquidation, dissolution or winding up of our affairs, </font><font style="font-style: normal;">then, before we make any distribution or payment to the holders of any common stock or any other class or series </font><font style="font-style: normal;">of our capital stock ranking junior to the preferred stock in the distribution of assets upon any liquidation, dissolution </font><font style="font-style: normal;">or winding up of our affairs, the holders of each series of preferred stock shall be entitled to receive out of assets </font><font style="font-style: normal;">legally available for distribution to stockholders, liquidating distributions in the amount of the liquidation preference </font><font style="font-style: normal;">per share set forth in the prospectus supplement, plus any accrued and unpaid dividends thereon. Such dividends will </font><font style="font-style: normal;">not include any accumulation in respect of unpaid noncumulative dividends for prior dividend periods. Unless </font><font style="font-style: normal;">otherwise specified in the prospectus supplement, after payment of the full amount of their liquidating distributions, </font><font style="font-style: normal;">the holders of preferred stock will have no right or claim to any of our remaining assets. Upon any such voluntary </font><font style="font-style: normal;">or involuntary liquidation, dissolution or winding up, if our available assets are insufficient to pay the amount of the </font><font style="font-style: normal;">liquidating distributions on all outstanding preferred stock and the corresponding amounts payable on all other classes </font><font style="font-style: normal;">or series of our capital stock ranking on parity with the preferred stock and all other such classes or series of shares </font><font style="font-style: normal;">of capital stock ranking on parity with the preferred stock in the distribution of assets, then the holders of the preferred </font><font style="font-style: normal;">stock and all other such classes or series of capital stock will share ratably in any such distribution of assets in </font><font style="font-style: normal;">proportion to the full liquidating distributions to which they would otherwise be entitled.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Upon any such liquidation, dissolution or winding up and if we have made liquidating distributions in full to all holders of preferred stock, we will distribute our remaining assets among the holders of any other classes or series of capital stock ranking junior to the preferred stock according to their respective rights and preferences and, in each case, according to their respective number of shares. For such purposes, our consolidation or merger with or into any other corporation, trust or entity, or the sale, lease or conveyance of all or substantially all of our property or assets will not be deemed to constitute a liquidation, dissolution or winding up of our affairs.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Redemption<font style="font-style: normal;">. If so provided in the applicable prospectus supplement, the preferred stock will be subject to </font><font style="font-style: normal;">mandatory redemption or redemption at our option, as a whole or in part, in each case upon the terms, at the times </font><font style="font-style: normal;">and at the redemption prices set forth in such prospectus supplement.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The prospectus supplement relating to a series of preferred stock that is subject to mandatory redemption will specify the number of shares of preferred stock that shall be redeemed by us in each year commencing after a date to be specified, at a redemption price per share to be specified, together with an amount equal to all accrued and unpaid dividends thereon to the date of redemption. Unless the shares have a cumulative dividend, such accrued dividends will not include any accumulation in respect of unpaid dividends for prior dividend periods. We may pay the redemption price in cash or other property, as specified in the applicable prospectus supplement. If the redemption price for preferred stock of any series is payable only from the net proceeds of the issuance of shares of our capital stock, the terms of such preferred stock may provide that, if no such shares of our capital stock shall have been issued or to the extent the net proceeds from any issuance are insufficient to pay in full the aggregate redemption price then due, such preferred stock shall automatically and mandatorily be converted into the applicable shares of our capital stock pursuant to conversion provisions specified in the applicable prospectus supplement. Notwithstanding the foregoing, we will not redeem any preferred stock of a series unless:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if that series of preferred stock has a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full cumulative dividends on the preferred stock for all past dividend periods and the then current dividend period; or</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">7<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if that series of preferred stock does not have a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full dividends for the then current dividend period.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">In addition, we will not acquire any preferred stock of a series unless:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if that series of preferred stock has a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full cumulative dividends on all outstanding shares of such series of preferred stock for all past dividend periods and the then current dividend period; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if that series of preferred stock does not have a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full dividends on the preferred stock of such series for the then current dividend period.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">However, at any time we may purchase or acquire preferred stock of that series (1) pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding preferred stock of such series or (2) by conversion into or exchange for shares of our capital stock ranking junior to the preferred stock of such series as to dividends and upon liquidation.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If fewer than all of the outstanding shares of preferred stock of any series are to be redeemed, we will determine the number of shares that may be redeemed pro rata from the holders of record of such shares in proportion to the number of such shares held or for which redemption is requested by such holder or by any other equitable manner that we determine. Such determination will reflect adjustments to avoid redemption of fractional shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless otherwise specified in the prospectus supplement, we will mail notice of redemption at least 30 days but not more than 60 days before the redemption date to each holder of record of preferred stock to be redeemed at the address shown on our stock transfer books. Each notice shall state:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the redemption date;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the number of shares and series of preferred stock to be redeemed;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the redemption price;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the place or places where certificates for such preferred stock are to be surrendered for payment of the redemption price;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">that dividends on the shares to be redeemed will cease to accrue on such redemption date;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the date on which the holder&#8217;s conversion rights, if any, as to such shares shall terminate; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the specific number of shares to be redeemed from each such holder if fewer than all the shares of any series are to be redeemed.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If notice of redemption has been given and we have set aside the funds necessary for such redemption in trust for the benefit of the holders of any shares called for redemption, then from and after the redemption date, dividends will cease to accrue on such shares, and all rights of the holders of such shares will terminate, except the right to receive the redemption price.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Voting Rights<font style="font-style: normal;">. Holders of preferred stock will not have any voting rights, except as required by law or as </font><font style="font-style: normal;">indicated in the applicable prospectus supplement.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless otherwise provided for under the terms of any series of preferred stock, no consent or vote of the holders of shares of preferred stock or any series thereof shall be required for any amendment to our restated certificate of incorporation that would increase the number of authorized shares of preferred stock or the number of authorized shares of any series thereof or decrease the number of authorized shares of preferred stock or the number of authorized shares of any series thereof (but not below the number of authorized shares of preferred stock or such series, as the case may be, then outstanding).</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Conversion Rights<font style="font-style: normal;">. The terms and conditions, if any, upon which any series of preferred stock is convertible into </font><font style="font-style: normal;">our common stock will be set forth in the applicable prospectus supplement relating thereto. Such terms will include </font><font style="font-style: normal;">the number of shares of common stock into which the shares of preferred stock are convertible, the conversion price, </font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">8<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">rate or manner of calculation thereof, the conversion period, provisions as to whether conversion will be at our option or at the option of the holders of the preferred stock, the events requiring an adjustment of the conversion price and provisions affecting conversion in the event of the redemption.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Transfer Agent and Registrar<font style="font-style: normal;">. The transfer agent and registrar for the preferred stock will be set forth in the </font><font style="font-style: normal;">applicable prospectus supplement.</font></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-align: left;">Provisions of Our Restated Certificate of Incorporation and By-laws and Delaware Law That May Have Anti-Takeover Effects</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Delaware law contains, and our restated certificate of incorporation and our by-laws contain, provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Authorized but Unissued Shares<font style="font-style: normal;">. The authorized but unissued shares of our common stock will be available for </font><font style="font-style: normal;">future issuance without obtaining stockholder approval and the authorized but unissued shares of our preferred stock </font><font style="font-style: normal;">are available for future issuance. These additional shares may be utilized for a variety of corporate purposes, </font><font style="font-style: normal;">including future public offerings to raise additional capital, corporate acquisitions, and employee benefit plans. The </font><font style="font-style: normal;">existence of authorized but unissued shares of our common stock and preferred stock could render more difficult or </font><font style="font-style: normal;">discourage an attempt to obtain control over us by means of a proxy contest, tender offer, merger or otherwise.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Removal of Directors.<font style="font-style: normal;"> A director may be removed only for cause and only by the affirmative vote of the holders </font><font style="font-style: normal;">of at least 75% of the votes that all of our stockholders would be entitled to cast in an annual election of directors. </font><font style="font-style: normal;">Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, </font><font style="font-style: normal;">may be filled only by vote of a majority of our directors then in office.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Staggered Board of Directors<font style="font-style: normal;">. Our certificate of incorporation provides for a staggered board of directors </font><font style="font-style: normal;">consisting of three classes of directors. Directors of each class are chosen for three-year terms upon the expiration </font><font style="font-style: normal;">of their current terms and each year one class of our directors will be elected by our stockholders. We believe that </font><font style="font-style: normal;">classification of our board of directors helps to assure the continuity and stability of our business strategies and </font><font style="font-style: normal;">policies as determined by our board of directors. Additionally, there is no cumulative voting in the election of </font><font style="font-style: normal;">directors. This classified board provision could have the effect of making the replacement of incumbent directors </font><font style="font-style: normal;">more time consuming and difficult. At least two annual meetings of stockholders, instead of one, will generally be </font><font style="font-style: normal;">required to effect a change in a majority of our board of directors. Thus, the classified board provision could increase </font><font style="font-style: normal;">the likelihood that incumbent directors will retain their positions. The staggered terms of directors may delay, defer </font><font style="font-style: normal;">or prevent a tender offer or an attempt to change control of us, even though a tender offer or change in control might </font><font style="font-style: normal;">be believed by our stockholders to be in their best interest.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Stockholder Action by Written Consent; Special Meetings.<font style="font-style: normal;"> Our restated certificate of incorporation provides that </font><font style="font-style: normal;">any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special </font><font style="font-style: normal;">meeting of such holders and may not be effected by any consent in writing by such holders. Our restated certificate </font><font style="font-style: normal;">of incorporation and by-laws also provide that, except as otherwise required by law, special meetings of our </font><font style="font-style: normal;">stockholders can only be called by our chairman of the board, our chief executive officer or our board of directors.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Advance Notice Requirements for Stockholder Proposals.<font style="font-style: normal;"> Our by-laws have established an advance notice </font><font style="font-style: normal;">procedure for stockholder proposals to be brought before an annual meeting of stockholders, including proposed</font> <font style="font-style: normal;">nominations of persons for election to our board of directors. Stockholders at an annual meeting will only be able </font><font style="font-style: normal;">to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the </font><font style="font-style: normal;">direction of our board of directors or by a stockholder of record on the record date for the meeting who is entitled </font><font style="font-style: normal;">to vote at the meeting and who has delivered timely written notice in proper form to our secretary of the stockholder&#8217;s </font><font style="font-style: normal;">intention to bring such business before the meeting. These provisions could have the effect of delaying until the next </font><font style="font-style: normal;">stockholder meeting stockholder actions that are favored by the holders of a majority of our outstanding voting </font><font style="font-style: normal;">securities.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Delaware Business Combination Statute.<font style="font-style: normal;"> We are subject to Section 203 of the Delaware General Corporation </font><font style="font-style: normal;">Law. Subject to specified exceptions, Section 203 of the Delaware General Corporation Law restricts some types of </font><font style="font-style: normal;">transactions and business combinations between a corporation and a 15% stockholder. A 15% stockholder is generally </font><font style="font-style: normal;">considered by Section 203 to be a person owning 15% or more of the corporation&#8217;s outstanding voting stock. Section </font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">9<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg6"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">203 refers to a 15% stockholder as an &#8220;interested stockholder.&#8221; Section 203 restricts these transactions for a period of three years from the date the stockholder acquires 15% or more of our outstanding voting stock. With some exceptions, unless the transaction is approved by the board of directors and the holders of at least two-thirds of the outstanding voting stock of the corporation, Section 203 prohibits significant business transactions such as:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a merger with, disposition of significant assets to or receipt of disproportionate financial benefits by the interested stockholder; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any other transaction that would increase the interested stockholder&#8217;s proportionate ownership of any class or series of our capital stock.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The shares held by the interested stockholder are not counted as outstanding when calculating the two-thirds of the outstanding voting stock needed for approval.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The prohibition against these transactions does not apply if:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">prior to the time that any stockholder became an interested stockholder, the board of directors approved either the business combination or the transaction in which such stockholder acquired 15% or more of our outstanding voting stock; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the interested stockholder owns at least 85% of our outstanding voting stock as a result of a transaction in which such stockholder acquired 15% or more of our outstanding voting stock. Shares held by persons who are both directors and officers or by some types of employee stock plans are not counted as outstanding when making this calculation.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Amendment of Restated Certificate of Incorporation and By-laws.<font style="font-style: normal;"> The Delaware General Corporation Law </font><font style="font-style: normal;">provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to </font><font style="font-style: normal;">amend a corporation&#8217;s restated certificate of incorporation or by-laws, unless a corporation&#8217;s restated certificate of </font><font style="font-style: normal;">incorporation or by-laws, as the case may be, requires a greater percentage. Our by-laws may be amended or repealed </font><font style="font-style: normal;">by a majority vote of our board of directors or by the affirmative vote of the holders of at least 75% of the votes that </font><font style="font-style: normal;">all of our stockholders would be entitled to cast in any annual election of directors. In addition, the affirmative vote </font><font style="font-style: normal;">of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in any annual election </font><font style="font-style: normal;">of directors is required to amend or repeal or to adopt any provisions inconsistent with any of the provisions of our </font><font style="font-style: normal;">restated certificate of incorporation described above under &#8220;Removal of Directors&#8221; and &#8220;Stockholder Action by </font><font style="font-style: normal;">Written Consent; Special Meetings.&#8221;</font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">10<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg7"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">Description of Debt Securities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may offer debt securities which may be senior or subordinated. We refer to the senior debt securities and the subordinated debt securities collectively as debt securities. The following description summarizes the general terms and provisions of the debt securities. We will describe the specific terms of the debt securities and the extent, if any, to which the general provisions summarized below apply to any series of debt securities in the prospectus supplement relating to the series and any applicable free writing prospectus that we authorize to be delivered. </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may issue senior debt securities from time to time, in one or more series under a senior indenture to be entered into between us and a senior trustee to be named in a prospectus supplement, which we refer to as the senior trustee. We may issue subordinated debt securities from time to time, in one or more series under a subordinated indenture to be entered into between us and a subordinated trustee to be named in a prospectus supplement, which we refer to as the subordinated trustee. The forms of senior indenture and subordinated indenture are filed as exhibits to the registration statement of which this prospectus forms a part. Together, the senior indenture and the subordinated indenture are referred to as the indentures and, together, the senior trustee and the subordinated trustee are referred to as the trustees. This prospectus briefly outlines some of the provisions of the indentures. The following summary of the material provisions of the indentures is qualified in its entirety by the provisions of the indentures, including definitions of certain terms used in the indentures. Wherever we refer to particular sections or defined terms of the indentures, those sections or defined terms are incorporated by reference in this prospectus or the applicable prospectus supplement. You should review the indentures that are filed as exhibits to the registration statement of which this prospectus forms a part for additional information.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">None of the indentures will limit the amount of debt securities that we may issue. The applicable indenture will provide that debt securities may be issued up to an aggregate principal amount authorized from time to time by us and may be payable in any currency or currency unit designated by us or in amounts determined by reference to an index.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">General</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The senior debt securities will constitute our unsecured and unsubordinated general obligations and will rank pari passu with our other unsecured and unsubordinated obligations. The subordinated debt securities will constitute our unsecured and subordinated general obligations and will be junior in right of payment to our senior indebtedness (including senior debt securities), as described under the heading &#8220;-Certain Terms of the Subordinated Debt Securities-Subordination.&#8221; The debt securities will be structurally subordinated to all existing and future indebtedness and other liabilities of our subsidiary unless such subsidiary expressly guarantees such debt securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The debt securities will be our unsecured obligations. Any secured debt or other secured obligations will be effectively senior to the debt securities to the extent of the value of the assets securing such debt or other obligations.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The applicable prospectus supplement and/or free writing prospectus will include any additional or different terms of the debt securities of any series being offered, including the following terms:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the title and type of the debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">whether the debt securities will be senior or subordinated debt securities, and, with respect to debt securities issued under the subordinated indenture the terms on which they are subordinated;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the aggregate principal amount of the debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the price or prices at which we will sell the debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the maturity date or dates of the debt securities and the right, if any, to extend such date or dates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the rate or rates, if any, per year, at which the debt securities will bear interest, or the method of determining such rate or rates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the date or dates from which such interest will accrue, the interest payment dates on which such interest will be payable or the manner of determination of such interest payment dates and the related record dates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the right, if any, to extend the interest payment periods and the duration of that extension;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the manner of paying principal and interest and the place or places where principal and interest will be payable;</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">11<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg8"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">provisions for a sinking fund, purchase fund or other analogous fund, if any;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any redemption dates, prices, obligations and restrictions on the debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the currency, currencies or currency units in which the debt securities will be denominated and the currency, currencies or currency units in which principal and interest, if any, on the debt securities may be payable;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any conversion or exchange features of the debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether and upon what terms the debt securities may be defeased;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any events of default or covenants in addition to or in lieu of those set forth in the indenture;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">whether the debt securities will be issued in definitive or global form or in definitive form only upon satisfaction of certain conditions;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the debt securities will be guaranteed as to payment or performance;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any special tax implications of the debt securities; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any other material terms of the debt securities.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">When we refer to &#8220;principal&#8221; in this section with reference to the debt securities, we are also referring to &#8220;premium, if any.&#8221;</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may from time to time, without notice to or the consent of the holders of any series of debt securities, create and issue further debt securities of any such series ranking equally with the debt securities of such series in all respects (or in all respects other than (1) the payment of interest accruing prior to the issue date of such further debt securities or (2) the first payment of interest following the issue date of such further debt securities). Such further debt securities may be consolidated and form a single series with the debt securities of such series and have the same terms as to status, redemption or otherwise as the debt securities of such series.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">You may present debt securities for exchange and you may present debt securities for transfer in the manner, at the places and subject to the restrictions set forth in the debt securities and the applicable prospectus supplement. We will provide you those services without charge, although you may have to pay any tax or other governmental charge payable in connection with any exchange or transfer, as set forth in the indenture.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Debt securities may bear interest at a fixed rate or a floating rate. Debt securities bearing no interest or interest at a rate that at the time of issuance is below the prevailing market rate (original issue discount securities) may be sold at a discount below their stated principal amount. U.S. federal income tax considerations applicable to any such discounted debt securities or to certain debt securities issued at par which are treated as having been issued at a discount for U.S. federal income tax purposes will be described in the applicable prospectus supplement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may issue debt securities with the principal amount payable on any principal payment date, or the amount of interest payable on any interest payment date, to be determined by reference to one or more currency exchange rates, securities or baskets of securities, commodity prices or indices. You may receive a payment of principal on any principal payment date, or a payment of interest on any interest payment date, that is greater than or less than the amount of principal or interest otherwise payable on such dates, depending on the value on such dates of the applicable currency, security or basket of securities, commodity or index. Information as to the methods for determining the amount of principal or interest payable on any date, the currencies, securities or baskets of securities, commodities or indices to which the amount payable on such date is linked and certain related tax considerations will be set forth in the applicable prospectus supplement.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Certain Terms of the Senior Debt Securities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Covenants. <font style="font-style: normal;">Unless we indicate otherwise in a prospectus supplement, the senior debt securities will not contain </font><font style="font-style: normal;">any financial or restrictive covenants, including covenants restricting us, either directly or through any subsidiaries, </font><font style="font-style: normal;">from incurring, issuing, assuming or guaranteeing any indebtedness secured by a lien on any of our property or capital </font><font style="font-style: normal;">stock, or restricting us from entering into sale and leaseback transactions.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Consolidation, Merger and Sale of Assets. <font style="font-style: normal;">Unless we indicate otherwise in a prospectus supplement, we may not </font><font style="font-style: normal;">consolidate with or merge into any other person, in a transaction in which we are not the surviving corporation, or </font><font style="font-style: normal;">convey, transfer or lease our properties and assets substantially as an entirety to any person, in either case, unless:</font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">12<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg9"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the successor entity, if any, is a U.S. corporation, limited liability company, partnership or trust (subject to certain exceptions provided for in the senior indenture);</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the successor entity assumes our obligations on the senior debt securities and under the senior indenture;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">immediately after giving effect to the transaction, no default or event of default shall have occurred and be continuing; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">certain other conditions are met.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">No Protection in the Event of a Change in Control. <font style="font-style: normal;">Unless we indicate otherwise in a prospectus supplement </font><font style="font-style: normal;">with respect to a particular series of senior debt securities, the senior debt securities will not contain any provisions </font><font style="font-style: normal;">that may afford holders of the senior debt securities protection in the event we have a change in control or in the event </font><font style="font-style: normal;">of a highly leveraged transaction (whether or not such transaction results in a change in control).</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Events of Default.<font style="font-style: normal;"> Unless we indicate otherwise in a prospectus supplement with respect to a particular series </font><font style="font-style: normal;">of senior debt securities, the following are events of default under the senior indenture for any series of senior debt </font><font style="font-style: normal;">securities:</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">failure to pay interest on any senior debt securities of such series when due and payable, if that default continues for a period of 30 days (or such other period as may be specified for such series);</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">failure to pay principal on the senior debt securities of such series when due and payable whether at maturity, upon redemption, by declaration or otherwise (and, if specified for such series, the continuance of such failure for a specified period);</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">default in the performance of or breach of any of our covenants or agreements in the senior indenture applicable to senior debt securities of such series, other than a covenant breach which is specifically dealt with elsewhere in the senior indenture, and that default or breach continues for a period of 90 days after we receive written notice from the trustee or from the holders of 25% or more in aggregate principal amount of the senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">certain events of bankruptcy or insolvency, whether or not voluntary; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any other event of default provided for in such series of senior debt securities as may be specified in the applicable prospectus supplement.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The default by us under any other debt, including any other series of debt securities, is not a default under the senior indenture.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If an event of default other than an event of default specified in the fourth bullet point above occurs with respect to a series of senior debt securities and is continuing under the senior indenture, then, and in each such case, either the trustee or the holders of not less than 25% in aggregate principal amount of such series then outstanding under the senior indenture (each such series voting as a separate class) by written notice to us and to the trustee, if such notice is given by the holders, may, and the trustee at the request of such holders shall, declare the principal amount of and accrued interest on such series of senior debt securities to be immediately due and payable, and upon this declaration, the same shall become immediately due and payable.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If an event of default specified in the fourth bullet point above occurs and is continuing, the entire principal amount of and accrued interest on each series of senior debt securities then outstanding shall become immediately due and payable.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless otherwise specified in the prospectus supplement relating to a series of senior debt securities originally issued at a discount, the amount due upon acceleration shall include only the original issue price of the senior debt securities, the amount of original issue discount accrued to the date of acceleration and accrued interest, if any.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Upon certain conditions, declarations of acceleration may be rescinded and annulled and past defaults may be waived by the holders of a majority in aggregate principal amount of all the senior debt securities of such series affected by the default, each series voting as a separate class. Furthermore, subject to various provisions in the senior indenture, the holders of a majority in aggregate principal amount of a series of senior debt securities, by notice to the trustee, may waive an existing default or event of default with respect to such senior debt securities and its consequences, except a default in the payment of principal of or interest on such senior debt securities or in respect of a covenant or provision of the senior indenture which cannot be modified or amended without the consent of the </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">13<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg10"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">holders of each such senior debt security. Upon any such waiver, such default shall cease to exist, and any event of default with respect to such senior debt securities shall be deemed to have been cured, for every purpose of the senior indenture; but no such waiver shall extend to any subsequent or other default or event of default or impair any right consequent thereto.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The holders of a majority in aggregate principal amount of a series of senior debt securities may direct the time, method and place of conducting any proceeding for any remedy available to the trustee or exercising any trust or power conferred on the trustee with respect to such senior debt securities. However, the trustee may refuse to follow any direction that conflicts with law or the senior indenture, that may involve the trustee in personal liability or that the trustee determines in good faith may be unduly prejudicial to the rights of holders of such series of senior debt securities not joining in the giving of such direction and may take any other action it deems proper that is not inconsistent with any such direction received from holders of such series of senior debt securities. A holder may not pursue any remedy with respect to the senior indenture or any series of senior debt securities unless:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the holder gives the trustee written notice of a continuing event of default;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the holders of at least 25% in aggregate principal amount of such series of senior debt securities make a written request to the trustee to pursue the remedy in respect of such event of default;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the requesting holder or holders offer the trustee indemnity satisfactory to the trustee against any costs, liability or expense;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">during such 60-day period, the holders of a majority in aggregate principal amount of such series of senior debt securities do not give the trustee a direction that is inconsistent with the request.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">These limitations, however, do not apply to the right of any holder of a senior debt security to receive payment of the principal of and interest on such senior debt security in accordance with the terms of such debt security, or to bring suit for the enforcement of any such payment in accordance with the terms of such debt security, on or after the due date for the senior debt securities, which right shall not be impaired or affected without the consent of the holder.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The senior indenture requires certain of our officers to certify, on or before a fixed date in each year in which any senior debt security is outstanding, as to their knowledge of our compliance with all covenants, agreements and conditions under the senior indenture.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Satisfaction and Discharge<font style="font-style: normal;">. We can satisfy and discharge our obligations to holders of any series of debt </font><font style="font-style: normal;">securities if:</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">we pay or cause to be paid, as and when due and payable, the principal of and any interest on all senior debt securities of such series outstanding under the senior indenture; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">all senior debt securities of such series have become due and payable or will become due and payable within one year (or are to be called for redemption within one year) and we deposit in trust a combination of cash and U.S. government or U.S. government agency obligations that will generate enough cash to make interest, principal and any other payments on the debt securities of that series on their various due dates.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Under current U.S. federal income tax law, the deposit and our legal release from the debt securities would be treated as though we took back your debt securities and gave you your share of the cash and debt securities or bonds deposited in trust. In that event, you could recognize gain or loss on the debt securities you give back to us. Purchasers of the debt securities should consult their own advisers with respect to the tax consequences to them of such deposit and discharge, including the applicability and effect of tax laws other than the U.S. federal income tax law.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Defeasance. <font style="font-style: normal;">Unless the applicable prospectus supplement provides otherwise, the following discussion of legal </font><font style="font-style: normal;">defeasance and discharge and covenant defeasance will apply to any series of debt securities issued under the </font><font style="font-style: normal;">indentures.</font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">14<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg11"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Legal Defeasance<font style="font-style: normal;">. We can legally release ourselves from any payment or other obligations on the debt securities </font><font style="font-style: normal;">of any series (called &#8220;legal defeasance&#8221;) if certain conditions are met, including the following:</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">We deposit in trust for your benefit and the benefit of all other direct holders of the debt securities of the same series a combination of cash and U.S. government or U.S. government agency obligations that will generate enough cash to make interest, principal and any other payments on the debt securities of that series on their various due dates.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">There is a change in current U.S. federal income tax law or an IRS ruling that lets us make the above deposit without causing you to be taxed on the debt securities any differently than if we did not make the deposit and instead repaid the debt securities ourselves when due. Under current U.S. federal income tax law, the deposit and our legal release from the debt securities would be treated as though we took back your debt securities and gave you your share of the cash and debt securities or bonds deposited in trust. In that event, you could recognize gain or loss on the debt securities you give back to us.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">We deliver to the trustee a legal opinion of our counsel confirming the tax law change or ruling described above.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If we accomplish legal defeasance, as described above, you would have to rely solely on the trust deposit for repayment of the debt securities. You could not look to us for repayment in the event of any shortfall.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Covenant Defeasance<font style="font-style: normal;">. Without any change of current U.S. federal tax law, we can make the same type of deposit </font><font style="font-style: normal;">described above and be released from some of the covenants in the debt securities (called &#8220;covenant defeasance&#8221;). </font><font style="font-style: normal;">In that event, you would lose the protection of those covenants but would gain the protection of having money and </font><font style="font-style: normal;">securities set aside in trust to repay the debt securities. In order to achieve covenant defeasance, we must do the </font><font style="font-style: normal;">following (among other things):</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">We must deposit in trust for your benefit and the benefit of all other direct holders of the debt securities of the same series a combination of cash and U.S. government or U.S. government agency obligations that will generate enough cash to make interest, principal and any other payments on the debt securities of that series on their various due dates.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">We must deliver to the trustee a legal opinion of our counsel confirming that under current U.S. federal income tax law we may make the above deposit without causing you to be taxed on the debt securities any differently than if we did not make the deposit and instead repaid the debt securities ourselves when due.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If we accomplish covenant defeasance, you could still look to us for repayment of the debt securities if there were a shortfall in the trust deposit. In fact, if one of the events of default occurred (such as our bankruptcy) and the debt securities become immediately due and payable, there may be such a shortfall. Depending on the events causing the default, you may not be able to obtain payment of the shortfall.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Modification and Waiver. <font style="font-style: normal;">We and the trustee may amend or supplement the senior indenture or the senior debt </font><font style="font-style: normal;">securities without the consent of any holder:</font></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to convey, transfer, assign, mortgage or pledge any assets as security for the senior debt securities of one or more series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to evidence the succession of a corporation, limited liability company, partnership or trust to us, and the assumption by such successor of our covenants, agreements and obligations under the senior indenture or to otherwise comply with the covenant relating to mergers, consolidations and sales of assets;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to comply with requirements of the SEC in order to effect or maintain the qualification of the senior indenture under the Trust Indenture Act of 1939, as amended;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to add to our covenants such new covenants, restrictions, conditions or provisions for the protection of the holders, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions, conditions or provisions an event of default;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to cure any ambiguity, defect or inconsistency in the senior indenture or in any supplemental indenture or to conform the senior indenture or the senior debt securities to the description of senior debt securities of such series set forth in this prospectus or any applicable prospectus supplement;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">to provide for or add guarantors with respect to the senior debt securities of any series;</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">15<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg12"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to establish the form or forms or terms of the senior debt securities as permitted by the senior indenture;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to evidence and provide for the acceptance of appointment under the senior indenture by a successor trustee, or to make such changes as shall be necessary to provide for or facilitate the administration of the trusts in the senior indenture by more than one trustee;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to add to, delete from or revise the conditions, limitations and restrictions on the authorized amount, terms, purposes of issue, authentication and delivery of any series of senior debt securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to make any change to the senior debt securities of any series so long as no senior debt securities of such series are outstanding; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">to make any change that does not adversely affect the rights of any holder in any material respect.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Other amendments and modifications of the senior indenture or the senior debt securities issued may be made, and our compliance with any provision of the senior indenture with respect to any series of senior debt securities may be waived, with the consent of the holders of a majority of the aggregate principal amount of the outstanding senior debt securities of all series affected by the amendment or modification (voting together as a single class); provided, however, that each affected holder must consent to any modification, amendment or waiver that:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">extends the final maturity of any senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduces the principal amount of any senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduces the rate or extends the time of payment of interest on any senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">reduces the amount payable upon the redemption of any senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">changes the currency of payment of principal of or interest on any senior debt securities of such series;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">reduces the principal amount of original issue discount securities payable upon acceleration of maturity or the amount provable in bankruptcy;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">waives an uncured default in the payment of principal of or interest on the senior debt securities (except in the case of a rescission of acceleration as described above);</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">changes the provisions relating to the waiver of past defaults or changes or impairs the right of holders to receive payment or to institute suit for the enforcement of any payment or conversion of any senior debt securities of such series on or after the due date therefore;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">modifies any of the provisions of these restrictions on amendments and modifications, except to increase any required percentage or to provide that certain other provisions cannot be modified or waived without the consent of the holder of each senior debt security of such series affected by the modification; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">reduces the above-stated percentage of outstanding senior debt securities of such series whose holders must consent to a supplemental indenture or modifies or amends or waives certain provisions of or defaults under the senior indenture.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">It shall not be necessary for the holders to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if the holders&#8217; consent approves the substance thereof. After an amendment, supplement or waiver of the senior indenture in accordance with the provisions described in this section becomes effective, the trustee must give to the holders affected thereby certain notice briefly describing the amendment, supplement or waiver. Any failure by the trustee to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplemental indenture or waiver.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">No Personal Liability of Incorporators, Stockholders, Officers, Directors. <font style="font-style: normal;">The senior indenture provides that no </font><font style="font-style: normal;">recourse shall be had under any obligation, covenant or agreement of ours in the senior indenture or any supplemental </font><font style="font-style: normal;">indenture, or in any of the senior debt securities or because of the creation of any indebtedness represented thereby, </font><font style="font-style: normal;">against any of our incorporators, stockholders, officers or directors, past, present or future, or of any predecessor or </font><font style="font-style: normal;">successor entity thereof under any law, statute or constitutional provision or by the enforcement of any assessment </font><font style="font-style: normal;">or by any legal or equitable proceeding or otherwise. Each holder, by accepting the senior debt securities, waives and </font><font style="font-style: normal;">releases all such liability.</font></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">16<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg13"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Concerning the Trustee. <font style="font-style: normal;">The senior indenture provides that, except during the continuance of an event of default, </font><font style="font-style: normal;">the trustee will not be liable except for the performance of such duties as are specifically set forth in the senior </font><font style="font-style: normal;">indenture. If an event of default has occurred and is continuing, the trustee will exercise such rights and powers vested </font><font style="font-style: normal;">in it under the senior indenture and will use the same degree of care and skill in its exercise as a prudent person would </font><font style="font-style: normal;">exercise under the circumstances in the conduct of such person&#8217;s own affairs.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The senior indenture and the provisions of the Trust Indenture Act of 1939 incorporated by reference therein contain limitations on the rights of the trustee thereunder, should it become a creditor of ours or our subsidiary, to obtain payment of claims in certain cases or to realize on certain property received by it in respect of any such claims, as security or otherwise. The trustee is permitted to engage in other transactions, provided that if it acquires any conflicting interest (as defined in the Trust Indenture Act), it must eliminate such conflict or resign.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may have normal banking relationships with the senior trustee in the ordinary course of business.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unclaimed Funds. <font style="font-style: normal;">All funds deposited with the trustee or any paying agent for the payment of principal, </font><font style="font-style: normal;">premium, interest or additional amounts in respect of the senior debt securities that remain unclaimed for two years </font><font style="font-style: normal;">after the date upon which such principal, premium or interest became due and payable will be repaid to us. Thereafter, </font><font style="font-style: normal;">any right of any holder of senior debt securities to such funds shall be enforceable only against us, and the trustee </font><font style="font-style: normal;">and paying agents will have no liability therefor.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Governing Law. <font style="font-style: normal;">The indenture and the debt securities will be governed by, and construed in accordance with, </font><font style="font-style: normal;">the internal laws of the State of New York.</font></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20pt; margin-left: 0pt; text-align: left;">Certain Terms of the Subordinated Debt Securities</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Other than the terms of the subordinated indenture and subordinated debt securities relating to subordination or otherwise as described in the prospectus supplement relating to a particular series of subordinated debt securities, the terms of the subordinated indenture and subordinated debt securities are identical in all material respects to the terms of the senior indenture and senior debt securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Additional or different subordination terms may be specified in the prospectus supplement applicable to a particular series.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Subordination. <font style="font-style: normal;">The indebtedness evidenced by the subordinated debt securities is subordinate to the prior </font><font style="font-style: normal;">payment in full of all of our senior indebtedness, as defined in the subordinated indenture. During the continuance </font><font style="font-style: normal;">beyond any applicable grace period of any default in the payment of principal, premium, interest or any other </font><font style="font-style: normal;">payment due on any of our senior indebtedness, we may not make any payment of principal of or interest on the </font><font style="font-style: normal;">subordinated debt securities (except for certain sinking fund payments). In addition, upon any payment or distribution </font><font style="font-style: normal;">of our assets upon any dissolution, winding-up, liquidation or reorganization, the payment of the principal of and </font><font style="font-style: normal;">interest on the subordinated debt securities will be subordinated to the extent provided in the subordinated indenture </font><font style="font-style: normal;">in right of payment to the prior payment in full of all our senior indebtedness. Because of this subordination, if we </font><font style="font-style: normal;">dissolve or otherwise liquidate, holders of our subordinated debt securities may receive less, ratably, than holders of </font><font style="font-style: normal;">our senior indebtedness. The subordination provisions do not prevent the occurrence of an event of default under the </font><font style="font-style: normal;">subordinated indenture.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The term &#8220;senior indebtedness&#8221; of a person means with respect to such person the principal of, premium, if any, interest on, and any other payment due pursuant to any of the following, whether outstanding on the date of the subordinated indenture or incurred by that person in the future:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">all of the indebtedness of that person for money borrowed;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">all of the indebtedness of that person evidenced by notes, debentures, bonds or other securities sold by that person for money;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">all of the lease obligations that are capitalized on the books of that person in accordance with generally accepted accounting principles;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">all indebtedness of others of the kinds described in the first two bullet points above and all lease obligations of others of the kind described in the third bullet point above that the person, in any manner, assumes or guarantees or that the person in effect guarantees through an agreement to purchase, whether that agreement is contingent or otherwise; and</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">17<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg14"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">all renewals, extensions or refundings of indebtedness of the kinds described in the first, second or fourth bullet point above and all renewals or extensions of leases of the kinds described in the third or fourth bullet point above;</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">unless, in the case of any particular indebtedness, renewal, extension or refunding, the instrument creating or evidencing it or the assumption or guarantee relating to it expressly provides that such indebtedness, renewal, extension or refunding is not superior in right of payment to the subordinated debt securities. Our senior debt securities constitute senior indebtedness for purposes of the subordinated debt indenture.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 14pt; text-align: center;">Description of Warrants</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may issue warrants to purchase common stock, preferred stock or debt securities. We may offer warrants separately or together with one or more additional warrants, common stock, preferred stock or debt securities, or any combination of those securities in the form of units, as described in the applicable prospectus supplement. If we issue warrants as part of a unit, the accompanying prospectus supplement will specify whether those warrants may be separated from the other securities in the unit prior to the expiration date of the warrants. The applicable prospectus supplement will also describe the following terms of any warrants:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the specific designation and aggregate number of, and the offering price at which we will issue, the warrants;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the currency or currency units in which the offering price, if any, and the exercise price are payable;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the date on which the right to exercise the warrants will begin and the date on which that right will expire or, if you may not continuously exercise the warrants throughout that period, the specific date or dates on which you may exercise the warrants;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">whether the warrants are to be sold separately or with other securities as parts of units;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">whether the warrants will be issued in definitive or global form or in any combination of these forms, although, in any case, the form of a warrant included in a unit will correspond to the form of the unit and of any security included in that unit;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any applicable material U.S. federal income tax consequences;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the identity of the warrant agent for the warrants and of any other depositaries, execution or paying agents, transfer agents, registrars or other agents;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the proposed listing, if any, of the warrants or any securities purchasable upon exercise of the warrants on any securities exchange;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the designation and terms of any equity securities purchasable upon exercise of the warrants;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the designation, aggregate principal amount, currency and terms of any debt securities that may be purchased upon exercise of the warrants;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if applicable, the designation and terms of the preferred stock with which the warrants are issued and the number of warrants issued with each security;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if applicable, the date from and after which any warrants issued as part of a unit and the related debt securities, preferred stock or common stock will be separately transferable;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the number of shares of common stock or preferred stock purchasable upon exercise of a warrant and the price at which those shares may be purchased;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">information with respect to book-entry procedures, if any;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the anti-dilution provisions of, and other provisions for changes to or adjustment in the exercise price of, the warrants, if any;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any redemption or call provisions; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any additional terms of the warrants, including terms, procedures and limitations relating to the exchange or exercise of the warrants.<br></div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">18<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_104-securities_pg15"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">Description of Units</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may issue units comprised of one or more of the other securities that may be offered under this prospectus, in any combination. The following, together with the additional information we may include in the applicable prospectus supplement, summarizes the material terms and provisions of the units that we may offer under this prospectus. While the terms summarized below will apply generally to any units we may offer, we will describe the particular terms of any series of units in more detail in the applicable prospectus supplement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately at any time, or at any time before a specified date.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">Any applicable prospectus supplement will describe:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any material provisions relating to the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any material provisions of the governing unit agreement that differ from those described above.</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">19<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_105-plan_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bPOD"><!--Anchor--></a>PLAN OF DISTRIBUTION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We may sell securities from time to time:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through one or more underwriters, dealers or agents;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">directly to one or more purchasers; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">through a combination of any of these methods of sale or any other method permitted by law.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, we may issue the securities as a dividend or distribution or in a subscription rights offering to our existing security holders. This prospectus may be used in connection with any offering of our securities through any of these methods or other methods described in the applicable prospectus supplement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, the manner in which we may sell some or all of the securities covered by this prospectus includes any method permitted by law, including, without limitation, through:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">a block trade in which a broker-dealer will attempt to sell as agent, but may position or resell a portion of the block, as principal, in order to facilitate the transaction;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">ordinary brokerage transactions and transactions in which a broker solicits purchasers;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">sales in an &#8220;at the market offering&#8221; within the meaning of Rule 415(a)(4) under the Securities Act, to or through one or more market makers or into an existing trading market, on an exchange or otherwise; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">privately negotiated transactions.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may directly solicit offers to purchase securities, or agents may be designated to solicit such offers. We will, in the prospectus supplement relating to such offering, name any agent that could be viewed as an underwriter under the Securities Act, and describe any commissions that we must pay. Any such agent will be acting on a best efforts basis for the period of its appointment or, if indicated in the applicable prospectus supplement, on a firm commitment basis.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">The distribution of the securities may be effected from time to time in one or more transactions:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">at a fixed price, or prices, which may be changed from time to time;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">at market prices prevailing at the time of sale;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">at prices related to such prevailing market prices; or</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">at negotiated prices.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Each prospectus supplement will describe the method of distribution of the securities and any applicable restrictions.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The prospectus supplement with respect to the securities of a particular series will describe the terms of the offering of the securities, including the following:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the name of the agent or any underwriters;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the public offering or purchase price and the proceeds we will receive from the sale of the securities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any discounts, commissions, or agency fees and other items to be allowed constituting underwriting compensation;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any discounts and commissions to be allowed or re-allowed or paid to dealers;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">any exchanges on which the securities will be listed; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 4pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">other material terms of the offering.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If any underwriters or agents are utilized in the sale of the securities in respect of which this prospectus is delivered, we will enter into an underwriting agreement or other agreement with them at the time of sale to them, and we will set forth in the prospectus supplement relating to such offering the names of the underwriters or agents and the terms of the related agreement with them.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If a dealer is utilized in the sale of the securities in respect of which this prospectus is delivered, we will sell such securities to the dealer, as principal. The dealer may then resell such securities to the public at varying prices to be determined by such dealer at the time of resale.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">20<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_105-plan_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If we offer securities in a subscription rights offering to our existing security holders, we may enter into a standby underwriting agreement with dealers, acting as standby underwriters. We may pay the standby underwriters a commitment fee for the securities they commit to purchase on a standby basis. If we do not enter into a standby underwriting arrangement, we may retain a dealer-manager to manage a subscription rights offering for us.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Remarketing firms, agents, underwriters, dealers and other persons may be entitled under agreements which they may enter into with us to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, and may be customers of, engage in transactions with or perform services for us in the ordinary course of business.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If so indicated in the applicable prospectus supplement, we will authorize underwriters or other persons acting as our agents to solicit offers by certain institutions to purchase securities from us pursuant to delayed delivery contracts providing for payment and delivery on the date stated in the prospectus supplement. Each contract will be for an amount not less than, and the aggregate amount of securities sold pursuant to such contracts shall not be less nor more than, the respective amounts stated in the prospectus supplement. Institutions with whom the contracts, when authorized, may be made include commercial and savings banks, insurance companies, pension funds, investment companies, educational and charitable institutions and other institutions, but shall in all cases be subject to our approval. Delayed delivery contracts will not be subject to any conditions except that:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the purchase by an institution of the securities covered under that contract shall not at the time of delivery be prohibited under the laws of the jurisdiction to which that institution is subject; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">if the securities are also being sold to underwriters acting as principals for their own account, the underwriters shall have purchased such securities not sold for delayed delivery. The underwriters and other persons acting as our agents will not have any responsibility in respect of the validity or performance of delayed delivery contracts.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Certain agents, underwriters and dealers, and their associates and affiliates may be customers of, have borrowing relationships with, engage in other transactions with, and/or perform services, including investment banking services, for us or one or more of our respective affiliates in the ordinary course of business.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In order to facilitate the offering of the securities, any underwriters may engage in transactions that stabilize, maintain or otherwise affect the price of the securities or any other securities the prices of which may be used to determine payments on such securities. Specifically, any underwriters may overallot in connection with the offering, creating a short position for their own accounts. In addition, to cover overallotments or to stabilize the price of the securities or of any such other securities, the underwriters may bid for, and purchase, the securities or any such other securities in the open market. Finally, in any offering of the securities through a syndicate of underwriters, the underwriting syndicate may reclaim selling concessions allowed to an underwriter or a dealer for distributing the securities in the offering if the syndicate repurchases previously distributed securities in transactions to cover syndicate short positions, in stabilization transactions or otherwise. Any of these activities may stabilize or maintain the market price of the securities above independent market levels. Any such underwriters are not required to engage in these activities and may end any of these activities at any time.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. The applicable prospectus supplement may provide that the original issue date for your securities may be more than two scheduled business days after the trade date for your securities. Accordingly, in such a case, if you wish to trade securities on any date prior to the second business day before the original issue date for your securities, you will be required, by virtue of the fact that your securities initially are expected to settle more than two scheduled business days after the trade date for your securities, to make alternative settlement arrangements to prevent a failed settlement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The securities may be new issues of securities and may have no established trading market. The securities may or may not be listed on a national securities exchange. We can make no assurance as to the liquidity of or the existence of trading markets for any of the securities.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In compliance with the guidelines of the Financial Industry Regulatory Authority, or FINRA, the aggregate maximum discount, commission or agency fees or other items constituting underwriting compensation to be received by any FINRA member or independent broker-dealer will not exceed 8% of the proceeds from any offering pursuant to this prospectus and any applicable prospectus supplement.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">21<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_105-plan_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="bLEGAL"><!--Anchor--></a>LEGAL MATTERS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Certain legal matters in connection with this offering will be passed upon for us by Cooley LLP, New York, New York. If legal matters in connection with offerings made pursuant to this prospectus are passed upon by counsel for the underwriters, dealers or agents, if any, such counsel will be named in the prospectus supplement relating to such offering.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 13.5pt; text-align: center;"><a name="bEXPERT"><!--Anchor--></a>EXPERTS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The consolidated financial statements of MacroGenics, Inc. appearing in MacroGenics, Inc.&#8217;s Annual Report (Form 10-K) for the year ended December&#160;31, 2019, and the effectiveness of MacroGenics, Inc.&#8217;s internal control over financial reporting as of December&#160;31, 2019, have been audited by Ernst &amp; Young LLP, independent registered public accounting firm, as set forth in its reports thereon included therein, and incorporated herein by reference. Such consolidated financial statements are, and audited consolidated financial statements to be included in subsequently filed documents will be, incorporated herein in reliance upon the reports of Ernst &amp; Young LLP pertaining to such consolidated financial statements and the effectiveness of our internal control over financial reporting as of the respective dates (to the extent covered by consents filed with the Securities and Exchange Commission) given on the authority of such firm as experts in accounting and auditing.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 13pt; text-align: center;"><a name="bWYCFMI"><!--Anchor--></a>WHERE YOU CAN FIND MORE INFORMATION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC&#8217;s website at http://www.sec.gov. Our common stock is listed on the Nasdaq Global Select Market under the symbol &#8220;MGNX.&#8221; Copies of certain information filed by us with the SEC are also available free of charge on our website at http://www.macrogenics.com under Investors - Financials &amp; Filings. Our website is not a part of this prospectus and is not incorporated by reference in this prospectus. These filings will be available as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus is part of a registration statement we filed with the SEC. This prospectus omits some information contained in the registration statement in accordance with SEC rules and regulations. You should review the information and exhibits in the registration statement for further information about us and our consolidated subsidiary and the securities we are offering. Those exhibits may be filed with the registration statement or may be incorporated by reference to earlier SEC filings listed in the registration statement or in subsequent filings that we may make under the Exchange Act. Statements in this prospectus concerning any document we filed as an exhibit to the registration statement or that we otherwise filed with the SEC are not intended to be comprehensive and are qualified by reference to these filings. You should review the complete document to evaluate these statements.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 13pt; text-align: center;"><a name="bIBR"><!--Anchor--></a>INCORPORATION BY REFERENCE</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The SEC allows us to &#8220;incorporate by reference&#8221; the information we file with them, which means that we can disclose important information to you by referring you to these documents instead of having to repeat the information in this prospectus. Because we are incorporating by reference future filings with the SEC, this prospectus and the accompanying prospectus supplement are continually updated and those future filings may modify or supersede some of the information included or incorporated by reference in this prospectus and the accompanying prospectus supplement. This means that you must look at all of the SEC filings that we incorporate by reference to determine if any of the statements in this prospectus, the accompanying prospectus supplement or in any document previously incorporated by reference have been modified or superseded. Our periodic reports are filed with the SEC under SEC File Number 001-36112.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We hereby incorporate by reference the following documents:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000031/mgnx-20191231.htm">February&#160;25, 2020</a>;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Amendment No. 1 to our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000036/mgnx-20191231.htm">March&#160;2, 2020</a>;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the information specifically incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019 from our Definitive Proxy Statement on Schedule 14A for our 2020 Annual Meeting of Stockholders, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000055/def_14ax2020.htm">April&#160;3, 2020</a>;</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">22<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_105-plan_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Quarterly Report on Form 10-Q for (i)&#160;the fiscal quarter ended March&#160;31, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000072/mgnx-20200331.htm">May&#160;5, 2020</a>, (ii)&#160;the fiscal quarter ended June&#160;30, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000126/mgnx-20200630.htm">July&#160;31, 2020</a> and (iii)&#160;the fiscal quarter ended September&#160;30, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000152/mgnx-20200930.htm">November&#160;4, 2020</a>; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Current Reports on Form 8-K filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000003/form8-k2020corppriorit.htm">January&#160;10, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000007/form8-kfust.htm">February&#160;5, 2020</a> (Item 5.02), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000114036120004828/form8k.htm">March&#160;4, 2020</a> (Item 5.02), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000064/form8-kvirtualmeeting.htm">April&#160;28, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000077/form8-kasco.htm">May&#160;13, </a><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000077/form8-kasco.htm">2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000079/form8-kamresults2020.htm">May&#160;14, 2020</a> (Item 5.07), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000103/form8-kascopresentation.htm">May&#160;29, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000106/mgnx-20200616.htm">June&#160;18, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000114036120014355/nt10012941x2_8k.htm">June&#160;19, 2020</a> (Items 8.01 and 9.01) and <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000141/mgnx-20201013.htm">October&#160;16, 2020</a> (Item 1.01); and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the description of our common stock contained in Exhibit 4.2 to our Annual Report on Form 10-K filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000031/mgnx-20191231.htm">February 25, 2020</a>, including any amendments or reports filed for the purpose of updating such description.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, all documents we subsequently file with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, until the offering of the securities offered hereby is terminated or completed, shall be deemed to be incorporated by reference in this prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless specifically stated to the contrary, none of the information that we disclose under Items 2.02 or 7.01 of any Current Report on Form 8-K that we may from time to time furnish to the SEC will be incorporated by reference into, or otherwise included in, this prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will furnish to you, regardless of whether you are a beneficial owner, at no cost, upon written or oral request, a copy of all of the documents that have been incorporated by reference in this prospectus and the accompanying prospectus supplement, other than the exhibits to such documents unless the exhibits are specifically incorporated by reference but not delivered with this prospectus. Requests should be directed to:</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; text-align: center;">9704 Medical Center Drive<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Rockville, MD 20850<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Attn: Investor Relations<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">(301) 251-5172</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">23<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 456pt;"><a name="nt10016582x1_s3asr_106-bbcv_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="block-frill" style="width: 456pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div><div class="page-content"><div class="block-main" style="width: 456pt; margin-left: 0pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 126.75pt; text-align: center;"><img style="height: 83px; width: 149px;" src="logo_macrogenicsx1.jpg"><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 20pt; font-weight: bold; margin-top: 32.5pt; text-align: center;">MACROGENICS, INC.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 54.5pt; text-align: center;">Common Stock<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 0pt; text-align: center;">Preferred Stock<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 0pt; text-align: center;">Debt Securities<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 0pt; text-align: center;">Warrants<br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 0pt; text-align: center;">Units</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 54.5pt; text-align: center;">PROSPECTUS</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 54.5pt; text-align: center;">November&#160;4, 2020</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 157.5pt; margin-left: 0pt; text-align: left;">&#8195;</div></div></div><div class="block-frill" style="width: 456pt; margin-top: 12pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 456pt;"><a name="nt10016582x1_s3asr_200-scov_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 456pt; margin-left: 0pt;"><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; margin-left: 0pt; text-align: left;">PROSPECTUS SUPPLEMENT<br></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">(To Prospectus dated November&#160;4, 2020)</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 19.5pt; text-align: center;">$100,000,000</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 13.25pt; text-align: center;"><img style="height: 83px; width: 149px;" src="logo_macrogenicsx1.jpg"><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201;</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 20pt; font-weight: bold; margin-top: 20.5pt; text-align: center;">MACROGENICS, INC.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold; margin-top: 18.5pt; text-align: center;">Common Stock</div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 13.25pt;"> </div></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We have entered into a sales agreement, or Sales Agreement, with Cowen and Company, LLC, or Cowen, dated November&#160;4, 2020, relating to shares of our common stock offered by this prospectus supplement and the accompanying base prospectus. In accordance with the terms of the Sales Agreement, under this prospectus supplement we may offer and sell shares of our common stock having an aggregate offering price of up to $100,000,00 from time to time through Cowen acting as our agent.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our common stock trades on The Nasdaq Global Select Market under the symbol &#8220;MGNX.&#8221; On November&#160;3, 2020, the last reported sale price of our common stock was $20.01 per share.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Sales of our common stock, if any, under this prospectus supplement will be made in sales deemed to be &#8220;at the market offerings&#8221; as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or the Securities Act. Cowen is not required to sell any specific amount of securities, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Cowen and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The compensation to Cowen for sales of common stock sold pursuant to the Sales Agreement will be an amount up to 3.0% of the gross proceeds of any shares of common stock sold under the Sales Agreement. In connection with the sale of the common stock on our behalf, Cowen will be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act and the compensation of Cowen will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Cowen with respect to certain liabilities, including liabilities under the Securities Act or the Securities Exchange Act of 1934, as amended, or the Exchange Act.</div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 15.25pt;"> </div></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 12pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Investing in our securities involves significant risks. Before making an investment decision, please read the information contained in and incorporated by reference under the heading &#8220;Risk Factors&#8221; on page S-<a href="#tRF">3</a> of this prospectus supplement, and under similar headings in the other documents that we have filed or that are filed after the date hereof and incorporated by reference into this prospectus supplement<font style="font-weight: normal;">.</font></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement. Any representation to the contrary is a criminal offense.</div><div><div class="rule-partial" style="height: 0pt; width: 96pt; border-bottom: 1pt solid #000000; margin-bottom: 2pt; margin-left: auto; margin-right: auto; margin-top: 14.25pt;"> </div></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 20pt; font-weight: bold; margin-top: 20.5pt; text-align: center;">Cowen </div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 24.5pt; text-align: center;">The date of this prospectus supplement is November&#160;4, 2020.</div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_201-stoc_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">TABLE OF CONTENTS</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 19.5pt; text-align: center;">Prospectus Supplement</div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 10.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">&#160;</div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 2.09%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 3.51%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Page</div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tI">ABOUT THIS PROSPECTUS SUPPLEMENT<font style="padding-left: 1.56pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tI"><font style="padding-left: 2.78pt;">S-</font>i</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tSNR">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS<font style="padding-left: 0.19pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tSNR">S-ii</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPSS">PROSPECTUS SUPPLEMENT SUMMARY<font style="padding-left: 0.26pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tPSS"><font style="padding-left: 0.56pt;">S-</font>1</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tTO">THE OFFERING<font style="padding-left: 2.85pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tTO"><font style="padding-left: 0.56pt;">S-</font>2</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tRF">RISK FACTORS<font style="padding-left: 4.32pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tRF"><font style="padding-left: 0.56pt;">S-</font>3</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tUOP">USE OF PROCEEDS<font style="padding-left: 0.07pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tUOP"><font style="padding-left: 0.56pt;">S-</font>4</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tD">DILUTION<font style="padding-left: 1.74pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tD"><font style="padding-left: 0.56pt;">S-</font>5</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tPOD">PLAN OF DISTRIBUTION<font style="padding-left: 3.98pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tPOD"><font style="padding-left: 0.56pt;">S-</font>6</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tLM">LEGAL MATTERS<font style="padding-left: 3.22pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tLM"><font style="padding-left: 0.56pt;">S-</font>7</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tE">EXPERTS<font style="padding-left: 1.77pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tE"><font style="padding-left: 0.56pt;">S-</font>7</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tWYC">WHERE YOU CAN FIND MORE INFORMATION<font style="padding-left: 3.84pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tWYC"><font style="padding-left: 0.56pt;">S-</font>7</a></div></td></tr><tr><td style="width: 92.31%; text-align: left; vertical-align: bottom; padding-top: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><a href="#tIBR">INCORPORATION BY REFERENCE<font style="padding-left: 1.57pt;"></font></a></div></td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt;">&#8203;</td><td class="gutter" style="width: 2.09%; border-bottom: none; font-size: 2pt; padding-top: 3pt;">&#8203;</td><td style="width: 3.51%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 1pt; text-align: left;"><a href="#tIBR"><font style="padding-left: 0.56pt;">S-</font>7</a></div></td></tr></table></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_201-stoc_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tI"><!--Anchor--></a>ABOUT THIS PROSPECTUS SUPPLEMENT</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless the context otherwise indicates, references in this prospectus supplement to &#8220;we,&#8221; &#8220;our&#8221; and &#8220;us&#8221; refer, collectively, to MacroGenics, Inc., a Delaware corporation, and its consolidated subsidiaries.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus supplement is part of a registration statement that we filed with the Securities and Exchange Commission, or SEC, using a &#8220;shelf&#8221; registration process. Under the registration statement, we may, from time to time, sell any combination of the securities described in the registration statement. Under this prospectus supplement, we may offer and sell shares of our common stock having an aggregate offering price of up to $100,000,000 from time to time at prices and on terms to be determined by market conditions at the time of offering. This prospectus supplement, together with the accompanying base prospectus and the documents incorporated by reference herein and therein, includes all material information relating to this offering.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We provide information to you about this offering of shares of our common stock in two separate documents that are bound together: (1) this sales agreement prospectus supplement, which describes the specific details regarding this offering, and (2) the accompanying base prospectus, which provides general information, some of which may not apply to this offering. Generally, when we refer to this &#8220;prospectus,&#8221; we are referring to both documents combined. If information in this sales agreement prospectus supplement is inconsistent with the accompanying base prospectus, you should rely on this sales agreement prospectus supplement. However, if any statement in one of these documents is inconsistent with a statement in a document having a later date (for example, a document incorporated by reference into this prospectus supplement), the statement in the document having the later date modifies or supersedes the earlier statement as our business, financial condition, results of operations and prospects may have changed since the earlier dates.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">You should rely only on the information contained in, or incorporated by reference into, this prospectus supplement, the accompanying base prospectus or in any related free writing prospectus filed by us with the SEC. Neither we nor Cowen have authorized anyone to provide you with different information. This prospectus supplement and the accompanying base prospectus do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus supplement or an offer to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information appearing in this prospectus supplement, the accompanying base prospectus, the documents incorporated by reference and any related free writing prospectus is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may have changed materially since those dates. It is important for you to read and consider all information contained in this prospectus supplement, the accompanying base prospectus and any free writing prospectus that we have authorized for use in connection with this offering, including the documents incorporated by reference herein or therein, in making your investment decision. You should also read and consider the information in the documents to which we have referred you in the sections titled &#8220;Where You Can Find More Information&#8221; and &#8220;Incorporation by Reference&#8221; in this prospectus supplement.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-i<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_201-stoc_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tSNR"><!--Anchor--></a>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus supplement, the accompanying base prospectus and the information incorporated by reference herein and therein include &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include statements that may relate to our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. Forward-looking statements can often be identified by the use of terminology such as &#8220;subject to,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;could,&#8221; &#8220;can,&#8221; the negatives thereof, variations thereon and similar expressions, or by discussions of strategy.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">All forward-looking statements, including, without limitation, our examination of historical operating trends, are based upon our current expectations and various assumptions. We believe there is a reasonable basis for our expectations and beliefs, but they are inherently uncertain. We may not realize our expectations, and our beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements. The following uncertainties and factors, among others, could affect future performance and cause actual results to differ materially from those matters expressed in or implied by our forward-looking statements:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the severity and duration of the impact of the COVID-19 global pandemic on our business, operations, clinical programs, manufacturing, financial results and other aspects of our business;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our plans to develop and commercialize our product candidates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the outcomes of our ongoing and planned clinical trials and the timing of those outcomes, including when clinical trials will be initiated or completed, and when data will be reported or regulatory filings will be made;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the timing of and our ability to obtain and maintain regulatory approvals for our product candidates;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our estimates regarding expenses, future revenue, capital requirements and needs for additional financing;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our ability to raise additional capital through the capital markets or through one or more corporate partnerships, equity offerings, debt financings, collaborations, licensing arrangements or asset sales;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our ability to enter into new collaborations or to identify additional products or product candidates with significant commercial potential that are consistent with our commercial objectives;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the potential benefits and future operation of our existing collaborations; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to recover the investment in our manufacturing capabilities;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">the rate and degree of market acceptance and clinical utility of our products;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our commercialization, marketing and manufacturing capabilities and strategy;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">significant competition in our industry;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">costs of litigation and the failure to successfully defend lawsuits and other claims against us;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">economic, political and other risks associated with our international operations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to receive research funding and achieve anticipated milestones under our collaborations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our ability to protect and enforce patents and other intellectual property;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">costs of compliance and our failure to comply with new and existing governmental regulations including, but not limited to, tax regulations;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">loss or retirement of key members of management;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">failure to successfully execute our growth strategy, including any delays in our planned future growth;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our failure to maintain effective internal controls; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">our expected use of proceeds from this offering.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The factors, risks and uncertainties referred to above and others are more fully described under the heading &#8220;Risk Factors&#8221; in this prospectus supplement and under the heading &#8220;Risk Factors&#8221; in our Annual Report on Form </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-ii<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_201-stoc_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">10-K for the fiscal year ended December&#160;31, 2019, as updated from time to time in our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements should be regarded solely as our current plans, estimates and beliefs. You should not place undue reliance on forward-looking statements. The forward-looking statements contained herein represent our judgment as of the date of this prospectus supplement. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. You should read this prospectus supplement, the accompanying base prospectus and the information incorporated by reference herein and therein completely and with the understanding that our actual future results may be materially different from what we expect.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-iii<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 492pt;"><a name="nt10016582x1_s3asr_202-ssum_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="border-box" style="border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; margin-bottom: 12pt; padding-top: 12pt; padding-bottom: 12pt; width: 492pt; margin-left: 0pt;"><div class="page-content" style="margin-left: 12pt;"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tPSS"><!--Anchor--></a>PROSPECTUS SUPPLEMENT SUMMARY</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This summary highlights information contained elsewhere in this prospectus supplement and the accompanying base prospectus or incorporated by reference herein or therein. Because it is a summary, it does not contain all the information you should consider before investing in our common stock. You should carefully read this entire prospectus supplement and the accompanying base prospectus, including the &#8220;Risk Factors&#8221; section beginning on page S-<a href="#tRF">3</a> of this prospectus supplement, along with our consolidated financial statements and notes to those consolidated financial statements and the other information incorporated by reference in this prospectus supplement and the accompanying base prospectus, before making an investment decision.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Company Overview</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We are a clinical-stage biopharmaceutical company focused on discovering and developing innovative antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. We currently have a pipeline of product candidates in human clinical testing, including eight immuno-oncology programs, that have been created primarily using our proprietary, antibody-based technology platforms. We believe our product candidates have the potential to have a meaningful effect on treating patients' unmet medical needs as monotherapy or, in some cases, in combination with other therapeutic agents.</div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Company Information</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We were incorporated under the laws of the state of Delaware in 2000 under the name &#8220;MacroGenics, Inc.&#8221; Our principal executive offices are located at 9704 Medical Center Drive, Rockville, Maryland 20850, and our telephone number is (301) 251-5172. Our website address is www.macrogenics.com. We make available on or through our website certain reports and amendments to those reports that we file with, or furnish to, the SEC in accordance with the Exchange Act. These include our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act. We make this information available on or through our website free of charge as soon as reasonably practicable after we electronically file the information with, or furnish it to, the SEC. The information contained on, or that can be accessed through, our website is not a part of this prospectus supplement.</div></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 12pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-1<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 492pt;"><a name="nt10016582x1_s3asr_202-ssum_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="border-box" style="border-top: 1pt solid #000000; border-left: 1pt solid #000000; border-right: 1pt solid #000000; border-bottom: 1pt solid #000000; margin-bottom: 12pt; padding-top: 12pt; padding-bottom: 12pt; width: 492pt; margin-left: 0pt;"><div class="page-content" style="margin-left: 12pt;"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tTO"><!--Anchor--></a>THE OFFERING</div><div class="sum1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 216pt; margin-top: 7pt; margin-left: 0pt; text-align: left;">Common Stock Offered by Us<font style="padding-left: 4.17pt;"></font></div><div class="sum2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -12pt; margin-left: 240pt; text-align: justify;">Shares of our common stock having an aggregate offering price of up to $100,000,000.</div><div class="sum1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 216pt; margin-top: 8pt; margin-left: 0pt; text-align: left;">Manner of Offering<font style="padding-left: 1.17pt;"></font></div><div class="sum2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -12pt; margin-left: 240pt; text-align: justify;">&#8220;At the market&#8221; offering that may be made from time to time through our sales agent, Cowen. See &#8220;Plan of Distribution&#8221; beginning on page S-<a href="#tPOD">6</a> of this prospectus supplement.</div><div class="sum1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 216pt; margin-top: 8pt; margin-left: 0pt; text-align: left;">Use of Proceeds<font style="padding-left: 2.87pt;"></font></div><div class="sum2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -12pt; margin-left: 240pt; text-align: justify;">We intend to use the net proceeds of this offering to fund continued advancement of programs in our pipeline and for other general corporate purposes, including working capital and potential third party service provider and other expenses related to the commercialization of margetuximab, if approved. See &#8220;Use of Proceeds&#8221; on page S-<a href="#tUOP">4</a> of this prospectus supplement.</div><div class="sum1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 216pt; margin-top: 8pt; margin-left: 0pt; text-align: left;">Risk Factors<font style="padding-left: 0.41pt;"></font></div><div class="sum2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -12pt; margin-left: 240pt; text-align: justify;">You should read the &#8220;Risk Factors&#8221; section beginning on page S-<a href="#tRF">3</a> of this prospectus supplement as well as those risk factors that are incorporated by reference in this prospectus supplement and the accompanying base prospectus for a discussion of factors to carefully consider before deciding to purchase shares of our common stock.</div><div class="sum1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 216pt; margin-top: 8pt; margin-left: 0pt; text-align: left;">Nasdaq Global Select Market Symbol<font style="padding-left: 4.56pt;"></font></div><div class="sum2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: -10pt; margin-left: 240pt; text-align: left;">&#8220;MGNX&#8221;</div></div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 12pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-2<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_203-srisk_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tRF"><!--Anchor--></a>RISK FACTORS</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-align: justify;">Investing in our common stock involves a high degree of risk. In addition to the other information contained in this prospectus supplement, the accompanying base prospectus and in the documents we incorporate by reference herein and therein, you should carefully consider the risks discussed below and under the heading &#8221;Risk Factors&#8221; in our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019 and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, as well as any amendments thereto reflected in subsequent filings with the SEC, which are incorporated by reference into this prospectus supplement in their entirety, together with other information in this prospectus supplement, the accompanying base prospectus, the documents incorporated by reference herein and therein, and any free writing prospectus that we may authorize for use in connection with this offering, before making a decision about investing in our securities. The risks and uncertainties discussed below and in these documents are not the only ones facing us. Additional risks and uncertainties not presently known to us, or that we currently see as immaterial, may also harm our business. If any of these risks actually occur, our business, prospects, operating results and financial condition could suffer materially. In such event, the trading price of our common stock could decline and you might lose all or part of your investment.<font style="font-style: normal;"> </font></div><div class="h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Risks Related to Our Common Stock and This Offering</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 6pt; margin-left: 0pt; text-align: justify;">If you purchase our common stock in this offering, you will incur immediate and substantial dilution in the book value of your shares.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The offering price per share of common stock in this offering may exceed the net tangible book value per share of common stock outstanding prior to this offering. Therefore, if you purchase common stock in this offering, you may pay a price per share of common stock that exceeds our as adjusted net tangible book value per share of common stock after this offering. To the extent outstanding options or warrants are exercised, you will incur further dilution. Assuming that an aggregate of 4,997,501 shares of our common stock are sold at a price of $20.01 per share pursuant to this prospectus supplement, which was the last reported sale price of our common stock on The Nasdaq Global Select Market on November 3, 2020, in the aggregate gross amount of $100,000,000, after deducting commissions and estimated aggregate offering expenses payable by us, you would experience immediate dilution of $13.64 per share of common stock, representing the difference between our as adjusted net tangible book value per share as of September&#160;30, 2020, after giving effect to this offering, and the assumed offering price. See the section titled &#8220;Dilution&#8221; below for a more detailed illustration of the dilution you would incur if you participate in this offering.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: justify;">Future sales and issuances of our common stock or rights to purchase common stock pursuant to our equity compensation plans could result in additional dilution of the percentage ownership of our stockholders and could cause the price of our common stock to decline.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will need additional capital in the future to continue our planned operations. To the extent we raise additional capital by issuing equity securities, our stockholders may experience substantial dilution. We may sell common stock, convertible securities, or other equity securities in one or more transactions at prices and in a manner we determine from time to time. If we sell common stock, convertible securities, or other equity securities, or if we issue common stock pursuant to our equity compensation plans, investors may be materially diluted by subsequent sales or issuances. These sales or issuances may also result in material dilution to our existing stockholders, and new investors could gain rights superior to our existing stockholders.</div><div class="frisk" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: justify;">We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will have broad discretion in the use of the net proceeds from this offering and could spend the proceeds in ways that do not improve our results of operations or enhance the value of our common stock. Pending our use of the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including short-term, interest-bearing, investment-grade securities, certificates of deposit or government securities. Our failure to apply these funds effectively could have a material adverse effect on our business, impair or delay our ability to develop our product candidates and cause the price of our common stock to decline. See the section entitled &#8220;Use of Proceeds&#8221; on page S-<a href="#tUOP">4</a> of this prospectus supplement.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-3<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_203-srisk_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tUOP"><!--Anchor--></a>USE OF PROCEEDS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We may issue and sell our common stock in the aggregate gross amount of up to $100,000,000 from time to time. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We anticipate that we will use the net proceeds of this offering primarily to fund research and development expenses for our clinical and preclinical research and development activities and for other general corporate purposes, including working capital and potential third party service provider and other expenses related to the commercialization of margetuximab, if approved.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our expected use of net proceeds to us from this offering represents our current intentions based upon our present plans and business condition. The amount and timing of our actual expenditures will depend upon numerous factors, including the results of our research and development efforts, the timing and success of pre-clinical studies, our ongoing clinical trials or clinical trials we may commence in the future and the timing of regulatory submissions. As a result, our management will have broad discretion over the use of the net proceeds from this offering.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pending our use of the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including short-term, interest-bearing, investment-grade securities, certificates of deposit or government securities.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-4<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_203-srisk_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tD"><!--Anchor--></a>DILUTION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">If you invest in our common stock in this offering, your ownership interest will be diluted immediately to the extent of the difference between the price you pay in this offering and the net tangible book value per share of common stock after this offering.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our net tangible book value as of September&#160;30, 2020 was approximately $291.6&#160;million, or approximately $5.19 per share of common stock, based on 56,174,932 shares of common stock then outstanding. After giving effect to the assumed sale by us of our common stock in the aggregate gross amount of $100,000,000 at an assumed public offering price of $20.01 per share (the last sale price of our common stock on November&#160;3, 2020 as reported on The Nasdaq Global Select Market), after deducting commissions and estimated aggregate offering expenses payable by us, our net tangible book value at September&#160;30, 2020 would have been $389.8&#160;million, or $6.37 per share of common stock. This represents an immediate increase in net tangible book value of $1.18 per share to existing stockholders and an immediate dilution of $13.64 per share to investors in this offering. The following table illustrates this per share dilution. The as adjusted information is illustrative only and will adjust based on the actual price to the public, the actual number of shares sold and other terms of the offering determined at the time shares of our common stock are sold pursuant to this prospectus supplement. Shares of our common stock sold in this offering, if any, will be sold from time to time at various prices.</div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 11.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 71.79%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Assumed public offering price per share<font style="padding-left: 3.76pt;"></font></div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$20.01</div></td></tr><tr><td style="width: 71.79%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Historical net tangible book value per share as of September&#160;30, 2020<font style="padding-left: 0.57pt;"></font></div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$5.19</div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 71.79%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 10pt; text-indent: -10pt; text-align: left;">Increase in net tangible book value per share attributable to investors purchasing shares of our common stock in this offering<font style="padding-left: 3.2pt;"></font></div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF; border-bottom: 1px solid #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid #000000; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$1.18</div></td><td class="gutter" style="width: 4.38%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF; border-bottom: 1px solid #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td></tr><tr><td style="width: 71.79%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">As adjusted net tangible book value per share after giving effect to this offering<font style="padding-left: 0.12pt;"></font></div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt;">&#8203;</td><td class="gutter" style="width: 4.38%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid #000000; padding-top: 4.25pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<font style="padding-left: 5pt;">6.37</font></div></td></tr><tr><td style="width: 71.79%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Dilution per share to investors purchasing our common stock in this offering<font style="padding-left: 3.24pt;"></font></div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 4.81%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 4.38%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 5.88%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$13.64</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The above discussion and table are based on 56,174,932 shares of common stock outstanding as of September&#160;30, 2020 and exclude:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">7,339,217 shares of common stock issuable upon the exercise of options outstanding under our employee stock option plans as of September&#160;30, 2020 at a weighted average exercise price of $21.42 per share, of which 4,407,713 were exercisable at September&#160;30, 2020, and 215,600 shares underlying outstanding restricted stock units as of September&#160;30, 2020;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">3,971,893 shares of common stock available for future issuance under our employee stock option plans; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">637,405 shares of common stock available for future issuance under our 2016 Employee Stock Purchase Plan.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">An increase of $1.00 per share in the price at which the shares are sold from the assumed offering price of $20.01 per share shown in the table above would increase our adjusted net tangible book value per share after the offering to $6.40 per share and would increase the dilution in net tangible book value per share to new investors in this offering to $14.61 per share, after deducting commissions and estimated aggregate offering expenses payable by us. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price of $20.01 per share shown in the table above would decrease our adjusted net tangible book value per share after the offering to $6.34 per share and would decrease the dilution in net tangible book value per share to new investors in this offering to $12.67 per share, after deducting commissions and estimated aggregate offering expenses payable by us. This information is supplied for illustrative purposes only.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">To the extent that outstanding options are exercised, you will experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of such securities may result in further dilution to our stockholders. </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-5<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_204-plan_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tPOD"><!--Anchor--></a>PLAN OF DISTRIBUTION </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We have entered into a Sales Agreement with Cowen, under which we may issue and sell from time to time up to $100,000,000 of our common stock through Cowen as our sales agent. Sales of our common stock, if any, will be made at market prices by any method that is deemed to be an &#8220;at the market&#8221; offering as defined in Rule 415(a)(4) under the Securities Act, including sales made directly on The Nasdaq Global Select Market or any other trading market for our common stock. If authorized by us in writing, Cowen may purchase shares of our common stock as principal.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Cowen will offer our common stock subject to the terms and conditions of the Sales Agreement on a daily basis or as otherwise agreed upon by us and Cowen. We will designate the maximum amount of common stock to be sold through Cowen on a daily basis or otherwise determine such maximum amount together with Cowen. Subject to the terms and conditions of the Sales Agreement, Cowen will use its commercially reasonable efforts to sell on our behalf all of the shares of common stock requested to be sold by us. We may instruct Cowen not to sell common stock if the sales cannot be effected at or above the price designated by us in any such instruction. Cowen or we may suspend the offering of our common stock being made through Cowen under the Sales Agreement upon proper notice to the other party. Cowen and we each have the right, by giving written notice as specified in the Sales Agreement, to terminate the Sales Agreement in each party&#8217;s sole discretion at any time.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The aggregate compensation payable to Cowen as sales agent will be up to 3.0% of the gross sales price of the shares sold through it pursuant to the Sales Agreement. We have also agreed to reimburse Cowen up to $50,000 of Cowen&#8217;s actual outside legal expenses incurred by Cowen in connection with this offering. We estimate that the total expenses of the offering payable by us, excluding commissions payable to Cowen under the Sales Agreement, will be approximately $75,000.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The remaining sales proceeds, after deducting any expenses payable by us and any transaction fees imposed by any governmental, regulatory, or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale of such common stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Cowen will provide written confirmation to us following the close of trading on The Nasdaq Global Select Market on each day in which common stock is sold through it as sales agent under the Sales Agreement. Each confirmation will include the number of shares of common stock sold through it as sales agent on that day, the volume weighted average price of the shares sold, the percentage of the daily trading volume and the net proceeds to us.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will report at least quarterly the number of shares of common stock sold through Cowen under the Sales Agreement, the net proceeds to us and the compensation paid by us to Cowen in connection with the sales of common stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Settlement for sales of common stock will occur, unless the parties agree otherwise, on the second business day that is also a trading day following the date on which any sales were made in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In connection with the sales of our common stock on our behalf, Cowen may be deemed to be an &#8220;underwriter&#8221; within the meaning of the Securities Act, and the compensation paid to Cowen may be deemed to be underwriting commissions or discounts. We have agreed in the Sales Agreement to provide indemnification and contribution to Cowen against certain liabilities, including liabilities under the Securities Act. As sales agent, Cowen will not engage in any transaction that stabilizes our common stock.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our common stock is listed on The Nasdaq Global Select Market and trades under the symbol &#8220;MGNX.&#8221; The transfer agent of our common stock is Computershare Trust Company, Inc.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Cowen and/or its affiliates have provided, and may in the future provide, various investment banking and other financial services for us for which services they have received and, may in the future receive, customary fees.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-6<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_204-plan_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tLM"><!--Anchor--></a>LEGAL MATTERS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The validity of the securities offered by this prospectus supplement and the accompanying base prospectus will be passed upon for us by Cooley LLP, New York, New York. Nelson Mullins Riley &amp; Scarborough LLP, Washington, DC, is counsel for Cowen in connection with this offering.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tE"><!--Anchor--></a>EXPERTS</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The consolidated financial statements of MacroGenics, Inc. appearing in MacroGenics, Inc.&#8217;s Annual Report (Form 10-K) for the year ended December&#160;31, 2019, and the effectiveness of MacroGenics, Inc.&#8217;s internal control over financial reporting as of December&#160;31, 2019, have been audited by Ernst &amp; Young LLP, independent registered public accounting firm, as set forth in its reports thereon included therein, and incorporated herein by reference. Such consolidated financial statements are, and audited consolidated financial statements to be included in subsequently filed documents will be, incorporated herein in reliance upon the reports of Ernst &amp; Young LLP pertaining to such consolidated financial statements and the effectiveness of our internal control over financial reporting as of the respective dates (to the extent covered by consents filed with the Securities and Exchange Commission) given on the authority of such firm as experts in accounting and auditing.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tWYC"><!--Anchor--></a>WHERE YOU CAN FIND MORE INFORMATION</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">This prospectus supplement and the accompanying base prospectus are part of a registration statement on Form S-3 we filed with the SEC under the Securities Act and do not contain all of the information set forth in the registration statement. Whenever a reference is made in this prospectus supplement or the accompanying base prospectus to any of our contracts, agreements or other documents, the reference may not be complete and you should refer to the exhibits that are a part of the registration statement or the exhibits to the reports or other documents incorporated by reference in this prospectus supplement and the accompanying base prospectus for a copy of such contract, agreement or other document.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Because we are subject to the information and reporting requirements of the Exchange Act, we file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC&#8217;s website at http://www.sec.gov. Our common stock is listed on The Nasdaq Global Select Market under the symbol &#8220;MGNX.&#8221; Copies of certain information filed by us with the SEC are also available free of charge on our website at http://www.macrogenics.com under Investors - Financials &amp; Filings. Our website is not a part of this prospectus supplement and is not incorporated by reference in this prospectus supplement. These filings will be available as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 17pt; text-align: center;"><a name="tIBR"><!--Anchor--></a>INCORPORATION BY REFERENCE</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The SEC allows us to &#8220;incorporate by reference&#8221; the information we file with them, which means that we can disclose important information to you by referring you to these documents instead of having to repeat the information in this prospectus supplement. Because we are incorporating by reference future filings with the SEC, this prospectus supplement and the accompanying base prospectus are continually updated and those future filings may modify or supersede some of the information included or incorporated by reference in this prospectus supplement and the accompanying base prospectus. This means that you must look at all of the SEC filings that we incorporate by reference to determine if any of the statements in this prospectus supplement, the accompanying base prospectus or in any document previously incorporated by reference have been modified or superseded. Our periodic reports are filed with the SEC under SEC File Number 001-36112.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">We hereby incorporate by reference the following documents:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000031/mgnx-20191231.htm">February&#160;25, 2020</a>;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">Amendment No. 1 to our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000036/mgnx-20191231.htm">March&#160;2, 2020</a>;</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the information specifically incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2019 from our Definitive Proxy Statement on Schedule 14A for our 2020 Annual Meeting of Stockholders, filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000055/def_14ax2020.htm">April&#160;3, 2020;</a></div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000055/def_14ax2020.htm">S-7</a><br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_204-plan_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Quarterly Report on Form 10-Q for (i)&#160;the fiscal quarter ended March&#160;31, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000072/mgnx-20200331.htm">May&#160;5, 2020</a>, (ii)&#160;the fiscal quarter ended June&#160;30, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000126/mgnx-20200630.htm">July&#160;31, 2020</a> and (iii)&#160;the fiscal quarter ended September&#160;30, 2020 filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000152/mgnx-20200930.htm">November&#160;4, 2020</a>; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">our Current Reports on Form 8-K filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000003/form8-k2020corppriorit.htm">January&#160;10, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000007/form8-kfust.htm">February&#160;5, 2020</a> (Item 5.02), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000114036120004828/form8k.htm">March&#160;4, 2020</a> (Items 5.02 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000064/form8-kvirtualmeeting.htm">April&#160;28, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000077/form8-kasco.htm">May&#160;13, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000079/form8-kamresults2020.htm">May&#160;14, 2020</a> (Item 5.07), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000103/form8-kascopresentation.htm">May&#160;29, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000106/mgnx-20200616.htm">June&#160;18, 2020</a> (Items 8.01 and 9.01), <a href="https://www.sec.gov/Archives/edgar/data/1125345/000114036120014355/nt10012941x2_8k.htm">June&#160;19, 2020</a> (Items 8.01 and 9.01) and <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000141/mgnx-20201013.htm">October&#160;16, 2020</a> (Item 1.01); and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 20pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#8226;</div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the description of our common stock contained in Exhibit 4.2 to our Annual Report on Form 10-K filed with the SEC on <a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534520000031/mgnx-20191231.htm">February 25, 2020</a>, including any amendments or reports filed for the purpose of updating such description.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">In addition, all documents we subsequently file with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, until the offering of the securities offered hereby is terminated or completed, shall be deemed to be incorporated by reference in this prospectus supplement and the accompanying base prospectus.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Unless specifically stated to the contrary, none of the information that we disclose under Items 2.02 or 7.01 of any Current Report on Form 8-K that we may from time to time furnish to the SEC will be incorporated by reference into, or otherwise included in, this prospectus supplement.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We will furnish to you, regardless of whether you are a beneficial owner, at no cost, upon written or oral request, a copy of all of the documents that have been incorporated by reference in this prospectus supplement and the accompanying base prospectus, other than the exhibits to such documents unless the exhibits are specifically incorporated by reference but not delivered with this prospectus supplement. Requests should be directed to:</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; text-align: center;">9704 Medical Center Drive<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Rockville, MD 20850<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">Attn: Investor Relations<br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">(301) 251-5172</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">You should rely only on the information incorporated by reference or provided in this prospectus supplement and the accompanying base prospectus. We have not authorized anyone else to provide you with different information. You should not assume that the information in this prospectus supplement and the accompanying base prospectus is accurate as of any date other than the date on the front page of those documents.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">S-8<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 456pt;"><a name="nt10016582x1_s3asr_205-sbcv_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="block-frill" style="width: 456pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div><div class="page-content"><div class="block-main" style="width: 456pt; margin-left: 0pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 126.75pt; text-align: center;"><img style="height: 83px; width: 149px;" src="logo_macrogenicsx1.jpg"><br></div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">&#8201; <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 18pt; font-weight: bold; margin-top: 20.5pt; text-align: center;">$100,000,000</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 20pt; font-weight: bold; margin-top: 18.5pt; text-align: center;">MACROGENICS, INC.</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 18.5pt; text-align: center;">Common Stock</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 16pt; font-weight: bold; margin-top: 54.5pt; text-align: center;">PROSPECTUS SUPPLEMENT</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 20pt; font-weight: bold; margin-top: 54.5pt; text-align: center;">Cowen</div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 78.5pt; text-align: center;">November&#160;4, 2020</div><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 136.5pt; margin-left: 0pt; text-align: left;">&#8195; </div></div></div><div class="block-frill" style="width: 456pt; margin-top: 12pt; margin-left: 0pt;"><div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 1pt solid #000000; margin-top: 1pt; margin-bottom: 1pt; margin-left: auto; margin-right: auto;"> </div><div class="rule-full" style="height: 0pt; width: 100%; border-bottom: 2pt solid #000000; margin-bottom: 1pt; margin-left: auto; margin-right: auto; margin-top: 4pt;"> </div></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_300-part2_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;">PART II <br></div><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; text-align: center;">INFORMATION NOT REQUIRED IN PROSPECTUS</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 14.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Other Expenses of Issuance and Distribution</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">The expenses relating to the registration of the securities will be borne by the registrant. The following expenses, with the exception of the Securities and Exchange Commission registration fee, are estimates:</div><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 11.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Securities and Exchange Commission registration fee<font style="padding-left: 2.25pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 6pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$10,910</div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Legal fees and expenses<font style="padding-left: 1.11pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Accounting fees and expenses<font style="padding-left: 2.22pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Transfer agent fees and expenses<font style="padding-left: 0.38pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Trustee fees and expenses <font style="padding-left: 0.91pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Printing and engraving costs <font style="padding-left: 0.54pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Miscellaneous<font style="padding-left: 2.74pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 2.94%; font-size: 2pt; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF; border-bottom: 1px solid #CCEEFF;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid #000000; padding-top: 3pt; padding-bottom: 4.25pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;"><font style="padding-left: 32.5pt;">*</font></div></td></tr><tr><td style="width: 87.18%; text-align: left; vertical-align: bottom; padding-top: 4.25pt; padding-bottom: 2.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Total<font style="padding-left: 0.09pt;"></font></div></td><td class="gutter" style="width: 2.94%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 2.25pt;">&#8203;</td><td class="gutter" style="width: 2.94%; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 2.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 6.94%; text-align: left; vertical-align: bottom; white-space: nowrap; border-bottom: 3pt double #000000; padding-top: 4.25pt; padding-bottom: 2.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">$<font style="padding-left: 27.5pt;">*</font></div></td></tr></table><div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 12.75pt;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">Estimated expenses not presently known. The applicable prospectus supplement will set forth the estimated aggregate expenses incurred in connection with the sale and distribution of the securities being offered and sold pursuant to this registration statement.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 15.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Indemnification of Directors and Officers</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Section 102 of the Delaware General Corporation Law, as amended, permits a corporation to eliminate the personal liability of its directors or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Section 145 of the Delaware General Corporation Law, as amended, provides that a corporation has the power to indemnify a director, officer, employee or agent of the corporation and certain other persons serving at the request of the corporation in related capacities against expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlements actually and reasonably incurred by the person in connection with an action, suit or proceeding to which he or she is or is threatened to be made a party by reason of such position, if such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful, except that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnify for such expenses which the Court of Chancery or such other court shall deem proper.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Section 174 of the Delaware General Corporation Law provides, among other things, that a director who willfully and negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption may be held liable for such actions. A director who was either absent when the unlawful actions were approved or dissented at the time, may avoid liability by causing his dissent to such actions to be entered in the books containing the minutes of the meetings of the board of directors at the time the action occurred or immediately after the absent director receives notice of the unlawful acts.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our restated certificate of incorporation provides that no director shall be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except to the extent that the Delaware General Corporation Law prohibits the elimination or limitation of liability of directors for breaches of fiduciary duty.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our restated certificate of incorporation provides that we will indemnify each person who was or is a party or threatened to be made a party to any threatened, pending or completed action, suit or proceeding whether civil, criminal, administrative or investigative (other than an action by or in the right of us) by reason of the fact that he or she is or was, or has agreed to become, our director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, </div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-1<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_300-part2_pg2"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-align: justify;">partnership, joint venture, trust or other enterprise (all such persons being referred to as an &#8220;Indemnitee&#8221;), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding and any appeal there from, if such Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, and, with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Our restated certificate of incorporation also provides that we will indemnify any Indemnitee who was or is a party to an action or suit by or in the right of us to procure a judgment in our favor by reason of the fact that the Indemnitee is or was, or has agreed to become, our director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&#8217; fees) and, to the extent permitted by law, amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding, and any appeal therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, except that no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to us, unless a court determines that, despite such adjudication but in view of all of the circumstances, he or she is entitled to indemnification of such expenses. Notwithstanding the foregoing, to the extent that any Indemnitee has been successful, on the merits or otherwise, he or she will be indemnified by us against all expenses (including attorneys&#8217; fees) actually and reasonably incurred by him or her or on his or her behalf in connection therewith. If we do not assume the defense, expenses must be advanced to an Indemnitee under certain circumstances.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We have entered into indemnification agreements with our directors and executive officers. In general, these agreements provide that we will indemnify the director or executive officer to the fullest extent permitted by law for claims arising in his or her capacity as a director or officer of our company or in connection with their service at our request for another corporation or entity. The indemnification agreements also provide for procedures that will apply in the event that a director or executive officer makes a claim for indemnification and establish certain presumptions that are favorable to the director or executive officer.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We maintain a general liability insurance policy that covers certain liabilities of our directors and officers arising out of claims based on acts or omissions in their capacities as directors or officers. In any underwriting agreement we enter into in connection with the sale of common stock being registered hereby, the underwriters will agree to indemnify, under certain conditions, us, our directors, our officers and persons who control us within the meaning of the Securities Act of 1933, as amended, against certain liabilities.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-2<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_300-part2_pg3"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 16.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Exhibits </div></td></tr></table><table cellspacing="0" cellpadding="0" class="fintab" style="margin-top: 10.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 10.26%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Exhibit Number</div></td><td class="gutter" style="width: 0.64%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 0.64%; font-size: 2pt; padding-top: 6pt; padding-bottom: 4.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td style="width: 88.46%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 4.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Description of Document</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">1.1*</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 4.25pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form of Underwriting Agreement.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="nt10016582x1_ex1-2.htm">1.2</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Sales Agreement, dated November&#160;4, 2020, by and between MacroGenics, Inc. and Cowen and Company, LLC.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">3.1</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Restated Certificate of Incorporation of the Company and Certificate of Correction to the Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibits <a href="https://www.sec.gov/Archives/edgar/data/1125345/000119312513402831/d613759dex31.htm">3.1</a> and <a href="https://www.sec.gov/Archives/edgar/data/1125345/000119312513402831/d613759dex33.htm">3.3</a>, respectively, to the Company&#8217;s Current Report on Form 8-K filed on October&#160;18, 2013).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000119312513386872/d575431dex34.htm">3.2</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Amended and Restated By-laws of the Company (incorporated by reference to Exhibit 3.4 to the Registration Statement on Form S-1 (File No. 333-190994) filed by the Company on October&#160;1, 2013).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000119312513394786/d575431dex42.htm">4.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Specimen Stock Certificate (incorporated by reference to Exhibit 4.2 to the Registration Statement on Form S-1 (File No. 333-190994) filed by the Company on October&#160;9, 2013).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">4.2*</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form of Preferred Stock Certificate.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534514000005/exhibit4_1.htm">4.3</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Form of Senior Indenture (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form S-3 (File No. 333-200092) filed by the Company on November&#160;12, 2014).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534514000005/exhibit4-2.htm">4.4</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Form of Subordinated Indenture (incorporated by reference to Exhibit 4.2 to the Registration Statement on Form S-3 (File No. 333-200092) filed by the Company on November&#160;12, 2014).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534514000005/exhibit4_3.htm">4.5</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Form of Senior Note (incorporated by reference to Exhibit 4.3 to the Registration Statement on Form S-3 (File No. 333-200092) filed by the Company on November&#160;12, 2014).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1125345/000112534514000005/exhibit4-4.htm">4.6</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">Form of Subordinated Note (incorporated by reference to Exhibit 4.4 to the Registration Statement on Form S-3 (File No. 333-200092) filed by the Company on November&#160;12, 2014).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">4.7*</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form of Warrant Agreement.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">4.8*</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Form of Unit Agreement.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="nt10016582x1_ex5-1.htm">5.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Opinion of Cooley LLP.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="nt10016582x1_ex23-1.htm">23.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Ernst &amp; Young LLP, independent registered public accounting firm for the Company.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="nt10016582x1_ex5-1.htm">23.2</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Consent of Cooley LLP (included in Exhibit 5.1).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;"><a href="#tSIG">24.1</a></div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt;">&#8203;</td><td style="width: 88.46%; text-align: left; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Power of Attorney (included on signature page).</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">25.1**</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; background-color: #CCEEFF;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">The Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939, as amended, of the Trustee under the Senior Indenture.</div></td></tr><tr><td style="width: 10.26%; text-align: center; vertical-align: top; padding-top: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; text-align: center;">25.2**</div></td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt;">&#8203;</td><td class="gutter" style="width: 0.64%; border-bottom: none; font-size: 2pt; padding-top: 3pt;">&#8203;</td><td style="width: 88.46%; vertical-align: top; padding-top: 3pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: justify;">The Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939, as amended, of the Trustee under the Subordinated Indenture.</div></td></tr></table><div><div class="rule-partial" style="height: 0pt; width: 72pt; border-bottom: 1pt solid #000000; margin-bottom: 1pt; margin-right: auto; margin-left: 0pt; margin-top: 12.75pt;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">*<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">To be filed, if applicable, by amendment or by a report filed under the Exchange Act and incorporated herein by reference.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">**<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">To be filed, if applicable, in accordance with the requirements of Section 305(b)(2) of the Trust Indenture Act of 1939 and Rule 5b-3 thereunder.</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 12pt; margin-left: 0pt;"><tr><td style="width: 50pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 17.<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; text-align: left;">Undertakings</div></td></tr></table><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 7pt; margin-left: 0pt; text-align: left;">The undersigned registrant hereby undertakes:</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(1)&#8195;To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;);</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">to reflect in the prospectus any facts or events arising after the effective date of this 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 this registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-3<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_300-part2_pg4"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6.75pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">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 this registration statement;</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">provided, however<font style="font-style: normal;">,</font> <font style="font-style: normal;">that the undertakings set forth in paragraphs (1)(i), (1)(ii)&#160;and (1)(iii)&#160;do not apply if the </font><font style="font-style: normal;">information required to be included in a post-effective amendment by those paragraphs is contained in reports filed </font><font style="font-style: normal;">with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities </font><font style="font-style: normal;">Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), that are incorporated by reference in this registration </font><font style="font-style: normal;">statement or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this registration </font><font style="font-style: normal;">statement.</font></div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(2)&#8195;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 <font style="font-style: italic;">bona fide </font>offering thereof.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(3)&#8195;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.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 8.5pt; margin-left: 0pt; text-indent: 20pt; text-align: left;">(4)&#8195;That, for the purpose of determining liability under the Securities Act to any purchaser:</div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and</div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii)&#160;or (x)&#160;for the purpose of providing the information required by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial <font style="font-style: italic;">bona fide</font> offering thereof. <font style="font-style: italic;">Provided, however</font>, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.</div></td></tr></table><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(5)&#8195;That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: </div><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(ii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iii)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">the portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and </div></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="margin-top: 6pt; margin-left: 40pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(iv)<br></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: justify;">any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</div></td></tr></table></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-4<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_300-part2_pg5"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6.75pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(6)&#8195;That, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this 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 <font style="font-style: italic;">bona fide </font>offering thereof.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(7)&#8195;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 indemnification provisions described herein, or otherwise, the registrant has been advised that in the opinion of the SEC 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.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">(8)&#8195;To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act of 1939 in accordance with the rules and regulations prescribed by the Commission under Section 305(b)(2) of the Trust Indenture Act of 1939.</div></div></div><div class="block-frill" style="width: 468pt; margin-top: 12pt; margin-left: 0pt;"><div class="unknown" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 9.47pt; text-align: center;">II-5<br></div></div></div>
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<div class="page" style="text-align: left; margin: auto; position: relative; width: 468pt;"><a name="nt10016582x1_s3asr_301-sig_pg1"><!--Anchor--></a><p style="text-align: left; font-family: 'Times New Roman', Times, Serif; font-size: 8pt; font-variant: normal; font-weight: bold"><a href="#TOC">TABLE OF CONTENTS</a></p><div class="page-content"><div class="block-main" style="width: 468pt; margin-left: 0pt;"><div class="h1" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 6.75pt; text-align: center;"><a name="tSIG"><!--Anchor--></a>SIGNATURES </div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Rockville, State of Maryland, on November&#160;4, 2020. </div><table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 5.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr><td style="width: 46.15%; text-align: left; vertical-align: top; padding-top: 6pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 6pt; padding-bottom: 2pt;">&#8203;</td><td colspan="4" style="width: 51.28%; text-align: left; vertical-align: bottom; padding-top: 6pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">MACROGENICS, INC.</div></td></tr><tr><td style="width: 46.15%; text-align: left; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 2pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 2pt;">&#8203;</td><td style="width: 5.13%; text-align: left; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div></td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 2pt;">&#8203;</td><td class="gutter" style="width: 1.28%; border-bottom: none; font-size: 2pt; padding-top: 2pt; padding-bottom: 2pt;">&#8203;</td><td style="width: 43.59%; text-align: left; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; 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font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">We, the undersigned officers and directors of MacroGenics, Inc. hereby severally constitute and appoint Scott Koenig, M.D., Ph.D., Chief Executive Officer, James Karrels, Chief Financial Officer, and Jeffrey Peters, General Counsel, and each and any of them, our true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</div><div class="para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">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.</div><table cellspacing="0" cellpadding="0" class="txttab" style="margin-top: 5.25pt; border-collapse: collapse; width: 468pt; margin-left: auto; margin-right: auto;"><tr class="header"><td style="width: 30.77%; text-align: center; vertical-align: bottom; border-bottom: 1pt solid #000000; padding-top: 6pt; padding-bottom: 3.25pt;"><div class="fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Signature</div></td><td class="gutter" style="width: 1.28%; font-size: 2pt; padding-top: 6pt; padding-bottom: 3.25pt; border-bottom: 1px solid #ffffff;">&#8203;</td><td class="gutter" style="width: 1.28%; 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<DOCUMENT>
<TYPE>EX-1.2
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<FILENAME>nt10016582x1_ex1-2.htm
<DESCRIPTION>EXHIBIT 1.2
<TEXT>
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    <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 1.2<br>
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  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">MACROGENICS, INC.</div>
  <div>&#160;</div>
  <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">$100,000,000<br>
      COMMON STOCK<br>
      <br>
      <br>
      <u>SALES AGREEMENT</u><br>
    </font><br>
  </div>
  <div>&#160;</div>
  <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">November 4, 2020</div>
  <div>&#160;</div>
  <div><br>
  </div>
  <div>&#160;</div>
  <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-variant: small-caps;">Cowen and Company</font><font style="font-size: 10pt;">, LLC</font></div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">599 Lexington Avenue</div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">New York, New York&#160; 10022</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Ladies and Gentlemen:</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">MacroGenics, Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold;"><u>Company</u></font>&#8221;), confirms its agreement (this &#8220;<font style="font-weight: bold;"><u>Agreement</u></font>&#8221;) with Cowen and Company, LLC (&#8220;<font style="font-weight: bold;"><u>Cowen</u></font>&#8221;), as follows:</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Issuance and Sale of Shares</u>. The
      Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell through Cowen, acting as agent and/or principal, shares of the Company&#8217;s common stock, $0.01
      par value per share (the &#8220;<font style="font-weight: bold;"><u>Common Stock</u></font>&#8221;), having an aggregate offering price of up to $100,000,000. Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance
      with the limitation set forth in this <u>Section&#160;1</u> on the number of shares of Common Stock issued and sold under this Agreement shall be the sole responsibility of the Company, and Cowen shall have no obligation in connection with such
      compliance. The issuance and sale of Common Stock through Cowen will be effected pursuant to the Registration Statement (as defined below) being filed by the Company which will automatically become effective under Rule 462(e) of the Securities Act
      (as defined below) upon filing with the Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;"><u>Commission</u></font>&#8221;), although nothing in this Agreement shall be construed as requiring the Company to use the Registration
      Statement (as defined below) to issue the Common Stock.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman',Times,serif;">The Company has filed, or will file, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder
    (collectively, the &#8220;<font style="font-weight: bold;"><u>Securities Act</u></font>&#8221;), with the Commission an &#8220;automatic shelf registration statement&#8221; (as defined in Rule 405 under the Securities Act (&#8220;<font style="font-weight: bold;"><u>Rule 405</u></font>&#8221;))
    on Form&#160;S-3ASR, including a base prospectus, relating to certain securities, including the Common Stock, to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance
    with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the &#8220;<font style="font-weight: bold;"><u>Exchange Act</u></font>&#8221;). The Company has prepared a prospectus supplement
    specifically relating to the Placement Shares (as defined below) (the &#8220;<font style="font-weight: bold;"><u>Prospectus Supplement</u></font>&#8221;) to the base prospectus included as part of such registration statement. The Company has furnished to Cowen,
    for use by Cowen, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement relating to the Placement Shares. Except where the context otherwise requires, such registration statement, and any
    post-effective amendment thereto, as amended when it became effective, including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed
    with the Commission pursuant to Rule&#160;424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule&#160;430B or 462(b) under the Securities Act, or any subsequent registration statement on Form S-3 filed pursuant to
    Rule 415(a)(6) under the Securities Act by the Company with respect to the Common Stock, is herein called the &#8220;<font style="font-weight: bold;"><u>Registration Statement</u></font>.&#8221; The base prospectus, including all documents incorporated therein by
    reference, included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to
    Rule&#160;424(b) under the Securities Act, together with any &#8220;issuer free writing prospectus,&#8221; as defined in Rule&#160;433 of the Securities Act regulations (&#8220;<font style="font-weight: bold;"><u>Rule&#160;433</u></font>&#8221;), relating to the Placement Shares that (i) is
    required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule&#160;433(d)(5)(i), in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the
    Company&#8217;s records pursuant to Rule&#160;433(g), is herein called the &#8220;<font style="font-weight: bold;"><u>Prospectus</u></font>.&#8221; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to
    refer to and include the documents incorporated by reference therein, and any reference herein to the terms &#8220;amend,&#8221; &#8220;amendment&#8221; or &#8220;supplement&#8221; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
    filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto
    shall be deemed to include any copy filed with the Commission pursuant to the Electronic Data Gathering, Analysis, and Retrieval system or any successor thereto (&#8220;<font style="font-weight: bold;"><u>EDGAR</u></font>&#8221;).</div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Placements</u>. Each time that the
      Company wishes to issue and sell Common Stock hereunder (each, a &#8220;<font style="font-weight: bold;"><u>Placement</u></font>&#8221;), it will notify Cowen by email notice (or other method mutually agreed to in writing by the parties) (a &#8220;<font style="font-weight: bold;"><u>Placement Notice</u></font>&#8221;) containing the parameters in accordance with which it desires the Common Stock to be sold, which shall at a minimum include the number of Common Stock to be issued (the &#8220;<font style="font-weight: bold;"><u>Placement Shares</u></font>&#8221;), the time period during which sales are requested to be made, any limitation on the number of Placement Shares that may be sold in any one (1) Trading Day (as defined in <u>Section&#160;3</u>)
      and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters necessary is attached hereto as <font style="font-weight: bold;"><u>Schedule&#160;1</u></font>. The Placement Notice shall originate from
      any of the individuals from the Company set forth on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font><font style="font-weight: bold;">&#160;</font>(with a copy to each of the other individuals from the Company listed on such schedule), and shall
      be addressed to each of the individuals from Cowen set forth on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font>, as such <font style="font-weight: bold;"><u>Schedule&#160;2</u></font> may be amended in writing from time to time. The Placement
      Notice shall be immediately effective upon receipt by Cowen unless and until (i) in accordance with the notice requirements set forth in <u>Section&#160;4</u>, Cowen declines to accept the terms contained therein for any reason, in its sole discretion,
      (ii) the entire amount of the Placement Shares thereunder have been sold, (iii) in accordance with the notice requirements set forth in <u>Section&#160;4</u>, the Company suspends or terminates the Placement Notice for any reason, in its sole discretion,
      (iv) the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, or (v) this Agreement has been terminated under the provisions of <u>Section&#160;11</u>. The amount of any discount,
      commission or other compensation to be paid by the Company to Cowen in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in <font style="font-weight: bold;"><u>Schedule&#160;3</u></font>.<font style="font-weight: bold;">&#160;</font>It is expressly acknowledged and agreed that neither the Company nor Cowen will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement
      Notice to Cowen and Cowen does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a
      Placement Notice, the terms of the Placement Notice will control.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">3.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Sale of Placement Shares by Cowen.</u>
      Subject to the terms and conditions herein set forth, upon the Company&#8217;s delivery of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms
      of this Agreement, Cowen, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules
      of the Nasdaq Global Select Market (&#8220;<font style="font-weight: bold;"><u>Nasdaq</u></font>&#8221;) to sell such Placement Shares up to the amount specified in such Placement Notice, and otherwise in accordance with the terms of such Placement Notice. Cowen
      will provide written confirmation to the Company (including by email correspondence to each of the individuals of the Company set forth on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font>, if receipt of such correspondence is actually
      acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares
      hereunder setting forth (i) the number of Placement Shares sold on such day, (ii) the volume-weighted average price of the Placement Shares sold and (iii) the Net Proceeds (as defined below) payable to the Company. Subject to the terms of a Placement
      Notice, Cowen may sell Placement Shares by any method permitted by law deemed to be an &#8220;at the market&#8221; offering as defined in Rule&#160;415(a)(4) of the Securities Act, including without limitation sales made through Nasdaq or on any other existing
      trading market for the Common Stock or to or through a market maker. If expressly authorized by the Company in a Placement Notice, Cowen may also sell Placement Shares by any other method permitted by law, including but not limited to negotiated
      transactions. Cowen shall not purchase Placement Shares for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that Cowen will
      be successful in selling Placement Shares, and (ii) Cowen will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by Cowen to use its commercially
      reasonable efforts consistent with its normal trading and sales practices to sell such Placement Shares as required under this <u>Section&#160;3</u>. For the purposes hereof, &#8220;<font style="font-weight: bold;"><u>Trading Day</u></font>&#8221; means any day on
      which the Company&#8217;s Common Stock is purchased and sold on Nasdaq.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 2 -</font></div>
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      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
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  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">4.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Suspension of Sales</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">The Company or Cowen
      may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font>, if receipt of such correspondence is actually
      acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth
      on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font>), suspend any sale of Placement Shares; <font style="font-style: italic;">provided, however</font>, that such suspension shall not affect or impair either party&#8217;s obligations with respect
      to any Placement Shares sold hereunder prior to the receipt of such notice. Each of the parties agrees that no such notice under this <u>Section&#160;4</u> shall be effective against the other unless it is made to one of the individuals named on <font style="font-weight: bold;"><u>Schedule&#160;2</u></font> hereto, as such schedule may be amended from time to time.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Notwithstanding any
      other provision of this Agreement, during any period in which the Company is in possession of material non-public information, the Company and Cowen agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the
      sale of any Placement Shares, and (iii) Cowen shall not be obligated to sell or offer to sell any Placement Shares.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">If either Cowen or the
      Company has reason to believe that the exemptive provisions set forth in Rule&#160;101(c)(1) of Regulation&#160;M under the Exchange Act are not satisfied with respect to the Common Stock, it shall promptly notify the other party, and Cowen may, at its sole
      discretion, suspend sales of the Placement Shares under this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Notwithstanding any
      other provision of this Agreement, during any period in which the Registration Statement is no longer effective under the Securities Act, the Company shall promptly notify Cowen, the Company shall not request the sale of any Placement Shares, and
      Cowen shall not be obligated to sell or offer to sell any Placement Shares.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Settlement.</u></font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Settlement of
        Placement Shares</u>. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will occur on the second (2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>) Trading
      Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a &#8220;<font style="font-weight: bold;"><u>Settlement Date</u></font>&#8221; and the first such settlement date, the &#8220;<font style="font-weight: bold;"><u>First Delivery Date</u></font>&#8221;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the &#8220;<font style="font-weight: bold;"><u>Net Proceeds</u></font>&#8221;)
      will be equal to the aggregate sales price received by Cowen at which such Placement Shares were sold, after deduction for (i)&#160;Cowen&#8217;s commission, discount or other compensation for such sales payable by the Company pursuant to <u>Section&#160;2</u>
      hereof, (ii) any other amounts due and payable by the Company to Cowen hereunder pursuant to <u>Section&#160;7(g)</u> hereof, and (iii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Delivery of Placement
        Shares</u>. On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting Cowen&#8217;s or its designee&#8217;s account (provided Cowen shall have given the
      Company written notice of such designee at least one (1) Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System (&#8220;<font style="font-weight: bold;"><u>DWAC</u></font>&#8221;) or by
      such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradeable, transferable, registered shares in good deliverable form. On each Settlement Date, Cowen will deliver the related Net
      Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. Cowen shall be responsible for providing DWAC instructions or instructions for delivery by other means with regards to the transfer of Placement
      Shares. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver duly authorized Placement Shares on a Settlement Date through no fault of Cowen, the Company agrees that in addition to and
      in no way limiting the rights and obligations set forth in <u>Section&#160;9(a)</u> hereto, it will (i)&#160;hold Cowen harmless against any loss, claim, damage, or reasonable documented expense (including reasonable documented legal fees and expenses), as
      incurred, arising out of or in connection with such default by the Company and (ii) pay to Cowen (without duplication) any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.</font></div>
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  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Representations and Warranties of the
        Company</u>. The Company represents and warrants to, and agrees with, Cowen that as of the date of this Agreement, each Representation Date (as defined in <u>Section&#160;7(m)</u>), each date on which a Placement Notice is given, and any date on which
      Placement Shares are sold hereunder:</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with
        Registration Requirements</u>. The Company meets the requirements for use of Form S-3 under the Securities Act and has prepared and will file with the SEC an &#8220;automatic shelf registration statement&#8221; as defined in Rule 405 under the Securities Act
      on Form S-3. No notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company. The Company has paid the
      registration fee for this offering pursuant to Rule 456(b)(1) under the Securities Act or will pay such fee within the time period required by such rule (without giving effect to the proviso therein) and in any event prior to the first Placement
      Notice. No stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto has been issued under the Securities Act, no order preventing or suspending the use of any Prospectus filed with the Commission
      pursuant to Rule 424(b) under the Securities Act has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company&#8217;s knowledge, contemplated. The sale of the Placement Shares hereunder meets the
      requirements of General Instruction I.B.1. of Form S-3.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Misstatement or
        Omission</u>. The Prospectus, when filed, complied, and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act. Each of the Registration Statement and any post-effective amendments or supplements
      thereto, at the time it became effective, complied in all material respects with the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
      to make the statements therein not misleading. The Prospectus, as amended or supplemented, as of its date, did not and, as of each of the Settlement Dates, if any, will not contain any untrue statement of a material fact or omit to state a material
      fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements
      in or omissions from the Registration Statement or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information relating to Cowen furnished to the Company
      in writing by Cowen expressly for use therein. There are no contracts or other documents required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Offering Materials
        Furnished to Cowen</u>. The Company has delivered to Cowen one complete copy of the Registration Statement and a copy of each consent and certificate of experts filed as a part thereof, and conformed copies of the Registration Statement (without
      exhibits) and the Prospectus, as amended or supplemented, in such quantities and at such places as Cowen has reasonably requested.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Well-Known Seasoned
        Issuer</u>. (A) At the original effectiveness of the Registration Statement, (B) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by
      post-effective amendment or incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act or in the form of a prospectus), (C) at the time the Company or any person acting on its behalf (within the meaning, for this clause only, of
      Rule 163(c) promulgated under the Securities Act) made any offer relating to the Common Stock in reliance on the exemption of Rule 163 promulgated under the Securities Act, and (D) as of the date of this Agreement, each Representation Date, the date
      on which a Placement Notice is given, and any date on which Placement Shares are sold hereunder, the Company was and is a &#8220;well-known seasoned issuer&#8221; (as defined in Rule 405).</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(e)&#160;</font><font style="font-size: 10pt;">&#160; &#160; &#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;"><u>Not an Ineligible Issuer</u></font>. The Company currently is not an &#8220;ineligible issuer,&#8221; as defined in Rule&#160;405. The Company agrees to notify Cowen promptly upon the Company becoming an
      &#8220;ineligible issuer.&#8221;</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(f)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Distribution of
        Offering Material By the Company</u>. The Company has not distributed and will not distribute, prior to the completion of Cowen&#8217;s distribution of the Placement Shares, any offering material in connection with the offering and sale of the Placement
      Shares other than the Prospectus or the Registration Statement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(g)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>The Sales Agreement</u>.
      This Agreement has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company, enforceable against the Company in accordance with its terms, except as rights to indemnification and contribution hereunder may
      be limited by applicable law and public policy considerations and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of
      creditors or by general equitable principles.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(h)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Authorization of the
        Placement Shares</u>. The Placement Shares, when issued and delivered, will be duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor pursuant to this Agreement, will
      be duly authorized, validly issued and fully paid and non-assessable.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(i)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Applicable
        Registration or Other Similar Rights</u>. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this
      Agreement, except for such rights as have been waived in accordance with their terms and all applicable laws.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(j)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Material Adverse
        Change</u>. Except as otherwise disclosed in the Prospectus, subsequent to the respective dates as of which information is given in the Prospectus: (i)&#160;there has been no material adverse change, or any development that could reasonably be expected
      to result in a material adverse change, in the condition, financial or otherwise, or in the earnings, business, operations or prospects, whether or not arising from transactions in the ordinary course of business, of the Company and its subsidiaries,
      considered as one entity (any such change is called a &#8220;<font style="font-weight: bold;"><u>Material Adverse Change</u></font>&#8221;); (ii)&#160;the Company and its subsidiaries, considered as one entity, have not incurred any material liability or obligation,
      indirect, direct or contingent, not in the ordinary course of business nor entered into any material transaction or agreement not in the ordinary course of business; and (iii)&#160;there has been no dividend or distribution of any kind declared, paid or
      made by the Company or, except for regular quarterly dividends publicly announced by the Company or dividends paid to the Company or other subsidiaries, by any of its subsidiaries on any class of capital stock or repurchase or redemption by the
      Company or any of its subsidiaries of any class of capital stock.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(k)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Independent
        Accountants</u>. To the Company&#8217;s knowledge, Ernst &amp; Young LLP, who has expressed its opinion with respect to the financial statements (which term as used in this Agreement includes the related notes thereto) and supporting schedules filed with
      the Commission or incorporated by reference as a part of the Registration Statement and included in the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Exchange Act.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(l)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Preparation of the
        Financial Statements</u>. The financial statements included or incorporated by reference in the Registration Statement and included in the Prospectus present fairly in all material respects the consolidated financial position of the Company and its
      consolidated subsidiaries as of and at the dates indicated and the results of their operations and cash flows for the periods specified. Such financial statements have been prepared in conformity with U.S. generally accepted accounting principles (&#8220;<font style="font-weight: bold;"><u>U.S. GAAP</u></font>&#8221;) applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto. No other financial statements or supporting schedules are required
      to be included in or incorporated in the Registration Statement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(m)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>XBRL</u>. The
      interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the
      Commission&#8217;s rules and guidelines applicable thereto.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(n)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Incorporation and
        Good Standing of the Company and its Subsidiaries</u>. The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware and has corporate power and authority to own, lease and
      operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement. There are no &#8220;significant subsidiaries&#8221; of the Company (as such term is defined in Rule&#160;1-02(w) of
      Regulation&#160;S-X of the Exchange Act). The Company is duly qualified as a foreign corporation to transact business and is in good standing in the States of Maryland and California and each other jurisdiction in which such qualification is required,
      whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions where the failure to so qualify or to be in good standing would not, individually or in the aggregate, result in a Material Adverse
      Change. The Company does not own or control, directly or indirectly, any corporation, association or other entity other than (i)&#160;those subsidiaries not required to be listed on Exhibit 21.1 by Item&#160;601 of Regulation&#160;S-K under the Exchange Act and
      (ii)&#160;those subsidiaries formed since the last day of the most recently ended fiscal year.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(o)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Capital Stock Matters</u>.
      The Common Stock conforms in all material respects to the description thereof contained in the Prospectus. All of the issued and outstanding shares of Common Stock have been duly authorized and validly issued, are fully paid and nonassessable and
      have been issued in compliance with federal and state securities laws. None of the outstanding shares of Common Stock were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase
      securities of the Company. There are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for, any capital
      stock of the Company or any of its subsidiaries other than those accurately described in all material respects in the Registration Statement and the Prospectus. The description of the Company&#8217;s stock option, stock bonus and other stock plans or
      arrangements, and the options or other rights granted thereunder, set forth in the Prospectus accurately and fairly presents in all material respects the information required to be shown with respect to such plans, arrangements, options and rights.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(p)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Non-Contravention of
        Existing Instruments; No Further Authorizations or Approvals Required</u>. Neither the Company nor any of its subsidiaries is in violation of its charter or by-laws or is in default (or, with the giving of notice or lapse of time, would be in
      default) (&#8220;<font style="font-weight: bold;"><u>Default</u></font>&#8221;) under any indenture, mortgage, loan or credit agreement, note, contract, franchise, lease or other instrument to which the Company or any of its subsidiaries is a party or by which
      it or any of them may be bound, or to which any of the property or assets of the Company or any of its subsidiaries is subject (each, an &#8220;<font style="font-weight: bold;"><u>Existing Instrument</u></font>&#8221;), except for such Defaults as would not,
      individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. The Company&#8217;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Prospectus
      (i)&#160;have been duly authorized by all necessary corporate action and do not and will not result in any violation of the provisions of the charter or by-laws of the Company or any subsidiary, (ii)&#160;will not conflict with or constitute a breach of, or
      Default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument, except
      for such conflicts, breaches, Defaults, liens, charges or encumbrances as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change and (iii)&#160;will not result in any violation of any law, administrative
      regulation or administrative or court decree applicable to the Company or any subsidiary. No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency, is
      required for the Company&#8217;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Prospectus, except such as have been obtained or made by the Company and are in full force and effect
      under the Securities Act, applicable state securities or blue sky laws, from Nasdaq and from the Financial Industry Regulatory Authority (&#8220;<font style="font-weight: bold;"><u>FINRA</u></font>&#8221;).</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(q)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Material Actions
        or Proceedings</u>. Except as disclosed in the Prospectus, there are no legal or governmental actions, suits or proceedings pending or, to the Company&#8217;s knowledge, threatened (i)&#160;against or affecting the Company or any of its subsidiaries or
      (ii)&#160;which has as the subject thereof any officer or director of the Company or any of its subsidiaries, where in any such case (A)&#160;there is a reasonable possibility that such action, suit or proceeding might be determined adversely to the Company or
      such subsidiary and (B)&#160;any such action, suit or proceeding, if so determined adversely, would reasonably be expected to result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement. No
      labor dispute with the employees of the Company or any of its subsidiaries exists or, to the Company&#8217;s knowledge, is threatened or imminent which would reasonably be expected to result in a Material Adverse Change.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(r)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>All Necessary
        Permits, etc</u>. The Company and its subsidiaries possess such permits, licenses, approvals, consents and other authorizations (collectively, &#8220;<font style="font-weight: bold;">Governmental Licenses</font>&#8221;) issued by the appropriate governmental
      or regulatory authority or agency necessary to conduct the business now operated by them, except where the failure so to possess would not, singly or in the aggregate, result in a Material Adverse Change. The Company and its subsidiaries are in
      compliance with the terms and conditions of all Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, result in a Material Adverse Change. All of the Governmental Licenses are valid and in full force and
      effect, except when the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, singly or in the aggregate, result in a Material Adverse Change. Neither the Company nor any of
      its subsidiaries has received any notice of proceedings relating to the revocation or modification of any Governmental Licenses which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a
      Material Adverse Change. The Company and its subsidiaries (i)&#160;are, and at all times have been, in compliance with all statutes, rules and regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use,
      distribution, storage, import, export or disposal of any product manufactured or distributed by the Company or its subsidiaries (&#8220;<font style="font-weight: bold;">Applicable Laws</font>&#8221;), except where such noncompliance would not, singly or in the
      aggregate, result in a Material Adverse Change; and (ii)&#160;have not received any U.S. Food and Drug Administration (&#8220;<font style="font-weight: bold;">FDA</font>&#8221;) Form&#160;483, written notice of adverse finding, warning letter, untitled letter or other
      correspondence or written notice from any court or arbitrator or governmental or regulatory authority alleging or asserting non-compliance with (x)&#160;any Applicable Laws or (y)&#160;any licenses, exemptions, certificates, approvals, clearances,
      authorizations, permits and supplements or amendments thereto required by any such Applicable Laws, except where being in contravention of any of the foregoing representations or warranties, singly or in the aggregate, would not have a Material
      Adverse Change.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(s)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Tax Law Compliance</u>.
      Subject to permitted exemptions, the Company and its consolidated subsidiaries have filed all necessary federal, state and foreign income, property and franchise tax returns or have properly requested extensions thereof and have paid all taxes
      required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of them except (i) as may be being contested in good faith and by appropriate proceedings or (ii) where the failure to
      file or pay would not, individually or in the aggregate, have a Material Adverse Change. The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in <u>Section&#160;6(l)</u> above in respect of all
      federal, state and foreign income, property and franchise taxes for all periods as to which the tax liability of the Company or any of its consolidated subsidiaries has not been finally determined.</font></div>
  <div>&#160;</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(t)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Company Not an
        &#8220;Investment Company</u>.&#8221; The Company is not, and after receipt of payment for the Placement Shares will not be, required to register as an &#8220;investment company&#8221; within the meaning of Investment Company Act of 1940, as amended.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(u)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Insurance</u>. Except
      as otherwise described in the Registration Statement or the Prospectus, the Company is insured by reputable insurers with policies in such amounts and with such deductibles and covering such risks as the Company reasonably deems adequate and
      customary for its business. The Company has no reason to believe that it or any subsidiary will not be able (i)&#160;to renew its existing insurance coverage as and when such policies expire or (ii)&#160;to obtain comparable coverage from similar institutions
      as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not reasonably be expected to result in a Material Adverse Change.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(v)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Price
        Stabilization or Manipulation</u>. The Company has not taken and will not take, directly or indirectly (without giving any effect to the activities by Cowen), any action designed to or that would be reasonably expected to cause or result in
      stabilization or manipulation of the price of the Common Stock to facilitate the sale or resale of the Placement Shares.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(w)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Exchange Act
        Compliance</u>. The documents incorporated or deemed to be incorporated by reference in the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the
      Exchange Act.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(x)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Unlawful
        Contributions or Other Payments</u>. Neither the Company nor any of its subsidiaries nor, to the Company&#8217;s knowledge, any director, officer, employee, agent, affiliate or other person acting on behalf of the Company or any subsidiary has (i) used
      any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government officials or employees, political
      parties or campaigns, political party officials, or candidates for political office from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any applicable
      anti-corruption laws, rules, or regulations of any other jurisdiction in which the Company or any subsidiary conducts business; or (iv) made any other unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any
      person.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(y)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with Money
        Laundering Laws</u>. The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the U.S. Bank Secrecy Act, as amended by Title III
      of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and its
      subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#8220;<font style="font-weight: bold;"><u>Anti-Money
          Laundering Laws</u></font>&#8221;), and no action, suit or proceeding by or before any court or governmental agency, authority, body or any arbitrator involving the Company or any of its subsidiaries with respect to Anti-Money Laundering Laws is
      pending, or to the knowledge of the Company, threatened.</font></div>
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  </div>
  <div style="text-align: justify; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(z)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with OFAC</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Neither the Company nor
      any of its subsidiaries, nor, to the Company&#8217;s knowledge, any director, officer, employee, agent, affiliate, representative, or other person acting on behalf of the Company or any of its subsidiaries, is an individual or entity (&#8220;<font style="font-weight: bold;"><u>Person</u></font>&#8221;) that is, or is owned or controlled by a Person that is: (i) the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#8217;s Office of Foreign Assets Control (&#8220;<font style="font-weight: bold;"><u>OFAC</u></font>&#8221;), the United Nations Security Council (&#8220;<font style="font-weight: bold;"><u>UNSC</u></font>&#8221;), the European Union (&#8220;<font style="font-weight: bold;"><u>EU</u></font>&#8221;), Her Majesty&#8217;s Treasury (&#8220;<font style="font-weight: bold;"><u>HMT</u></font>&#8221;), or other relevant sanctions authority (collectively, &#8220;<font style="font-weight: bold;"><u>Sanctions</u></font>&#8221;), nor (ii) located, organized, or resident in a country or territory that is the subject
      of a U.S. government embargo (including, without limitation, Cuba, Iran, North Korea, Sudan, Syria and the Crimea).</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">The Company will not,
      directly or indirectly, use the Net Proceeds, or lend, contribute or otherwise make available such Net Proceeds to any subsidiary, joint venture partner or other Person: (i) to fund or facilitate any activities or business of or with any Person that,
      at the time of such funding or facilitation, is the subject of Sanctions, or in any country or territory that, at the time of such funding or facilitation, is the subject of a U.S. government embargo; or (ii) in any other manner that will result in a
      violation of Sanctions by any Person (including Cowen).</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">For the past five (5)
      years, the Company and its subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not knowingly engage in, any direct or indirect dealings or transactions with any Person that at the time of the dealing or transaction
      is or was the subject of Sanctions or any country or territory that, at the time of the dealing or transaction is or was the subject of a U.S. government embargo.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(aa)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Company&#8217;s Accounting
        System</u>. The Company maintains a system of &#8220;internal control over financial reporting&#8221; (as such term is defined in Rule&#160;13a-15(f) of the General Rules and Regulations under the Exchange Act (the &#8220;<font style="font-weight: bold;"><u>Exchange Act
          Rules</u></font>&#8221;)) that is sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of
      financial statements in conformity with U.S. GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management&#8217;s general or specific authorization; and (iv) the recorded accountability for assets
      is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as described in the Registration Statement and the Prospectus, the Company&#8217;s internal control over financial reporting is
      effective and, since the end of the Company&#8217;s most recent audited fiscal year, there has been (A) no material weakness in the Company&#8217;s internal control over financial reporting (whether or not remediated) and (B) no change in the Company&#8217;s internal
      control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(bb)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Disclosure Controls</u>.
      The Company and each of its subsidiaries maintain a system of internal accounting controls (as defined in Rule&#160;13a-15(f) of the Exchange Act) sufficient to provide reasonable assurance that (i)&#160;transactions are executed in accordance with
      management&#8217;s general or specific authorizations; (ii)&#160;transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii)&#160;access
      to assets is permitted only in accordance with management&#8217;s general or specific authorization; (iv)&#160;the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
      any differences; and (v)&#160;the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement is accurate. The Company&#8217;s internal controls over financial reporting are effective and the
      Company is not aware of any material weakness in its internal controls over financial reporting. The Company and each of its subsidiaries maintain an effective system of &#8220;disclosure controls and procedures&#8221; (as defined in Rule 13a-15(e) under the
      Exchange Act); such disclosure controls and procedures are effective.</font></div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(cc)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with
        Environmental Laws</u>. Except as described in the Registration Statement and the Prospectus or would not, singly or in the aggregate, result in a Material Adverse Change, (i)&#160;neither the Company nor any of its subsidiaries is in violation of any
      federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment,
      relating to pollution or protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating
      to the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products, asbestos-containing materials or mold (collectively, &#8220;<font style="font-weight: bold;"><u>Hazardous
          Materials</u></font>&#8221;) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, &#8220;<font style="font-weight: bold;"><u>Environmental Laws</u></font>&#8221;), (ii)&#160;the
      Company and its subsidiaries have all permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements, (iii)&#160;there are no pending or to the Company&#8217;s knowledge, threatened
      administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company or any of its subsidiaries and
      (iv)&#160;there are no events or circumstances that would reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental entity, against or affecting the Company or
      any of its subsidiaries relating to Hazardous Materials or any Environmental Laws.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(dd)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Intellectual
        Property</u>. The Company and each of its subsidiaries own or possess, or can acquire on reasonable terms, adequate rights to use all patents, patent rights, licenses, inventions, copyrights, know how (including trade secrets and other unpatented
      and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property (including all registrations and applications for registration of, and all goodwill associated
      with, the foregoing) (collectively, &#8220;<font style="font-weight: bold;"><u>Intellectual Property</u></font>&#8221;) necessary for the conduct of their respective businesses, and to the knowledge of the Company, neither the Company nor any of its subsidiaries
      has infringed, misappropriated or otherwise violated any Intellectual Property of any third party in any material respect. Neither the Company nor any of its subsidiaries has received any notice of, or is otherwise aware of, any threatened or pending
      claim of infringement, misappropriation or other violation of any Intellectual Property of any third party, or any notice challenging the validity, scope or enforceability of the Intellectual Property owned by or licensed to the Company or any of its
      subsidiaries, or their respective rights therein, in each case which, individually or in the aggregate, would reasonably be expected to have a Material Adverse Change. The Company is not aware of any specific facts that would support a finding that
      any of the issued or granted patents owned by or licensed to the Company is invalid or unenforceable and, to the knowledge of the Company, all such issued or granted patents are valid and enforceable.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(ee)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Listing</u>. The
      Company is subject to and in compliance in all material respects with the reporting requirements of Section&#160;13 or Section&#160;15(d) of the Exchange Act. The shares of Common Stock are registered pursuant to Section&#160;12(b) of the Exchange Act and listed on
      Nasdaq, and the Company has taken no action designed to, or reasonably likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from Nasdaq, nor has the Company received any
      notification that the Commission or Nasdaq is contemplating terminating such registration or listing.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(ff)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Brokers</u>. Except
      for Cowen, there is no broker, finder or other party that is entitled to receive from the Company any brokerage or finder&#8217;s fee or other fee or commission as a result of any transactions contemplated by this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(gg)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Reliance</u>. The
      Company has not relied upon Cowen or legal counsel for Cowen for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(hh)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Cowen Purchases</u>.
      The Company acknowledges and agrees that Cowen has informed the Company that Cowen may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account while this Agreement is in
      effect; <font style="font-style: italic;">provided,</font>&#160;<font style="font-style: italic;">that</font> (i) no such purchase or sales shall take place while a Placement Notice is in effect (except to the extent Cowen may engage in sales of
      Placement Shares purchased or deemed purchased from the Company as a &#8220;riskless principal&#8221; or in a similar capacity) and (ii) the Company shall not be deemed to have authorized or consented to any such purchases or sales by Cowen.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(ii)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>FINRA Exemption</u>.
      To enable Cowen to rely on FINRA Rule&#160;5110(h)(1)(C), the Company represents that the Company meets the requirements for use of Form S-3 under the Securities Act specified in FINRA Rule 5110(h)(1)(C) and is an &#8220;experienced issuer&#8221; as such term is
      defined in FINRA Rule 5110(j)(6).</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(jj)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with Laws</u>.
      The Company has not been advised, and has no reason to believe, that it and each of its subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business,
      except where failure to be so in compliance would not reasonably be expected to result in a Material Adverse Change.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(kk)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Clinical Trials</u>.
      The clinical and pre-clinical trials conducted by or, to the knowledge of the Company after due inquiry, on behalf of or sponsored by the Company or its subsidiaries, or in which the Company or its subsidiaries have participated, that are described
      in the Registration Statement and the Prospectus, or the results of which are referred to in the Registration Statement and the Prospectus, as applicable, were, and if still pending are, being conducted in all material respects in accordance with
      standard medical and scientific research procedures and all applicable rules and regulations of the FDA and comparable drug regulatory agencies outside of the United States to which they are subject (collectively, the &#8220;<font style="font-weight: bold;"><u>Regulatory Authorities</u></font>&#8221;) and current Good Clinical Practices and Good Laboratory Practices; the descriptions in the Registration Statement or the Prospectus of the results of such studies and tests are accurate and complete in
      all material respects and fairly present the data derived from such trials; the Company has no knowledge of any other trials not described in the Registration Statement and the Prospectus, the results of which are inconsistent with or call into
      question the results described or referred to in the Registration Statement and the Prospectus; the Company and its subsidiaries have operated at all times and are currently in compliance in all material respects with all applicable statutes, rules
      and regulations of the Regulatory Authorities; neither the Company nor any of its subsidiaries have received any written notices, correspondence or other communications from the Regulatory Authorities or any other governmental agency requiring or
      threatening the termination, material modification or suspension of any clinical or pre-clinical trials that are described in the Registration Statement and the Prospectus or the results of which are referred to in the Registration Statement and the
      Prospectus, other than ordinary course communications with respect to modifications in connection with the design and implementation of such trials, and, to the Company&#8217;s knowledge, there are no reasonable grounds for the same.</font></div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(ll)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Privacy Laws</u>.
      The Company is, and at all prior times was, in material compliance with all applicable data privacy and security laws and regulations, including, without limitation, the Health Insurance Portability and Accountability Act (&#8220;<font style="font-weight: bold;"><u>HIPAA</u></font>&#8221;), as amended by the Health Information Technology for Economic and Clinical Health Act (the &#8220;<font style="font-weight: bold;"><u>HITECH Act</u></font>&#8221;) (42 U.S.C. Section 17921, et seq.); and the Company has taken all
      necessary actions to comply, to the extent required, with the European Union General Data Protection Regulation (&#8220;<font style="font-weight: bold;"><u>GDPR</u></font>&#8221;) (EU 2016/679) (collectively, &#8220;<font style="font-weight: bold;"><u>Privacy Laws</u></font>&#8221;).
      To ensure compliance with the Privacy Laws, the Company has in place, comply with, and take appropriate steps reasonably designed to ensure compliance in all material respects with its policies and procedures relating to data privacy and security and
      the collection, storage, use, disclosure, handling and analysis of Personal Data (the &#8220;<font style="font-weight: bold;"><u>Policies</u></font>&#8221;). &#8220;<font style="font-weight: bold;"><u>Personal Data</u></font>&#8221; means (i) a natural persons&#8217; name, street
      address, telephone number, email address, photograph, social security number, bank information, or customer or account number; (ii) any information which would qualify as &#8220;personally identifying information&#8221; under the Federal Trade Commission Act, as
      amended; (iii) Protected Health Information as defined by HIPAA; (iv) Personal Data as defined by GDPR; and (v) any other piece of information that allows the identification of such natural person, or his or her family, or permits the collection or
      analysis of any data related to an identified person&#8217;s health or sexual orientation. None of such disclosures made or contained in any of the Policies have been inaccurate, misleading, deceptive or in violation of any Privacy Laws or Policies in any
      material respect. The execution, delivery and performance of this Agreement or any other agreement referred to in this Agreement will not result in a breach of any Privacy Laws or Policies. The Company has not received notice of any actual or
      potential liability under or relating to, or actual or potential violation of, any of the Privacy Laws, and has no knowledge of any event or condition that would reasonably be expected to result in any such notice. The Company is not currently
      conducting or paying for, in whole or in part, any investigation, remediation or other corrective action pursuant to any Privacy Law and the Company is not a party to any order, decree, or agreement that imposed any obligation or liability under any
      Privacy Law.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(mm)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>IT Systems</u>.
      (i)(x)There has been no security breach or attack or other compromise of or relating to any of the Company&#8217;s information technology and computer systems, networks, hardware, software, data (including the data of their respective customers, employees,
      suppliers, vendors and any third party data maintained by or on behalf of them), equipment or technology (&#8220;<font style="font-weight: bold;"><u>IT Systems and Data</u></font>&#8221;), and (y) the Company has not been notified of, and have no knowledge of
      any event or condition that would reasonably be expected to result in any security breach, attack or compromise to their IT Systems and Data, except in the case of clauses (x) and (y) for breaches, attacks, or compromises that would not reasonably be
      expected to, individually or in the aggregate, result in a Material Adverse Change, (ii) the Company has complied, and is presently in compliance with, in each case in all material respects, all applicable laws, statutes or any judgment, order, rule
      or regulation of any court or arbitrator or governmental or regulatory authority and all industry guidelines, standards, internal policies and contractual obligations relating to the privacy and security of IT Systems and Data and to the protection
      of such IT Systems and Data from unauthorized use, access, misappropriation or modification and (iii) the Company has implemented backup and disaster recovery technology consistent with industry standards and practice.</font></div>
  <div>&#160;</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(nn)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Required Filings</u>.
      The Company has not failed to file with the Regulatory Authorities any required filing, declaration, listing, registration, report or submission with respect to the Company&#8217;s product candidates that are described or referred to in the Registration
      Statement and the Prospectus; all such filings, declarations, listings, registrations, reports or submissions were in material compliance with applicable laws when filed; and no deficiencies regarding compliance with applicable law have been asserted
      by any applicable regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman',Times,serif;">Any certificate signed by an officer of the Company and delivered to Cowen or to counsel for Cowen in connection with this Agreement shall be deemed to be a
    representation and warranty by the Company to Cowen as to the matters set forth therein.</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman',Times,serif;">The Company acknowledges that Cowen and, for purposes of the opinions to be delivered pursuant to <u>Section&#160;7</u> hereof, counsel to the Company and
    counsel to Cowen, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.</div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">7.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Covenants of the Company</u>. The
      Company covenants and agrees with Cowen that:</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Registration
        Statement Amendments</u>. After the date of this Agreement and during any period in which a Prospectus relating to any Placement Shares is required to be delivered by Cowen under the Securities Act (including in circumstances where such requirement
      may be satisfied pursuant to Rule&#160;172 under the Securities Act), (i)&#160;the Company will notify Cowen promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference or not related to any
      Placement Shares, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or
      Prospectus related to any Placement Shares or for additional information related to any Placement Shares, (ii) the Company will prepare and file with the Commission, promptly upon Cowen&#8217;s reasonable request, any amendments or supplements to the
      Registration Statement or Prospectus that, in Cowen&#8217;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by Cowen (<font style="font-style: italic;">provided, however</font>, that the failure
      of Cowen to make such request shall not relieve the Company of any obligation or liability hereunder, or affect Cowen&#8217;s right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company will not file any
      amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to
      Cowen within a reasonable period of time before the filing and Cowen has not reasonably objected thereto (<font style="font-style: italic;">provided, however</font>, that (A) the failure of Cowen to make such objection shall not relieve the Company
      of any obligation or liability hereunder, or affect Cowen&#8217;s right to rely on the representations and warranties made by the Company in this Agreement, (B) the Company has no obligation to provide Cowen any advance copy of such filing or to provide
      Cowen an opportunity to object to such filing if the filing does not name Cowen or does not relate to the transaction herein provided, and (C) the only remedy Cowen shall have with respect to the failure by the Company to provide Cowen with such copy
      or the filing of such amendment or supplement despite Cowen&#8217;s objection shall be to cease making sales under this Agreement); (iv) the Company will furnish to Cowen at the time of filing thereof a copy of any document that upon filing is deemed to be
      incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; (v) the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be
      filed with the Commission as required pursuant to the applicable paragraph of Rule&#160;424(b) of the Securities Act (the determination to file or not file any amendment or supplement with the Commission under this <u>Section 7(a)</u>, based on the
      Company&#8217;s reasonable opinion or reasonable objections, shall be made exclusively by the Company). Prior to the initial sale of any Placement Shares, the Company shall file a final Prospectus Supplement pursuant to Rule 424(b) relating to the
      Placement Shares.</font></div>
  <div>&#160;</div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Notice of Commission
        Stop Orders</u>. The Company will advise Cowen, promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement,
      of the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to
      prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Delivery of
        Prospectus; Subsequent Changes</u>. During any period in which a Prospectus relating to the Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares, (including in
      circumstances where such requirement may be satisfied pursuant to Rule&#160;172 under the Securities Act), the Company will comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their
      respective due dates (taking into account any extensions available under the Exchange Act) all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14,
      15(d) or any other provision of or under the Exchange Act. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material
      fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities
      Act, the Company will promptly notify Cowen to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct
      such statement or omission or effect such compliance; provided, however, that the Company may delay the filing of any amendment or supplement, if in the judgment of the Company, it is in the best interest of the Company.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Listing of Placement
        Shares</u>. During any period in which the Prospectus relating to the Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares (including in circumstances where such
      requirement may be satisfied pursuant to Rule&#160;172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on Nasdaq and to qualify the Placement Shares for sale under the
      securities laws of such jurisdictions as Cowen reasonably designates and to continue such qualifications in effect so long as required for the distribution of the Placement Shares; <font style="font-style: italic;">provided, however,</font> that the
      Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or file a general consent to service of process in any jurisdiction.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(e)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Delivery of
        Registration Statement and Prospectus</u>. The Company will furnish to Cowen and its counsel (at the reasonable expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein)
      and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including
      all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as Cowen may from time to time reasonably request and, at
      Cowen&#8217;s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; <font style="font-style: italic;">provided, however,</font> that the Company shall not be required to furnish
      any document (other than the Prospectus) to Cowen to the extent such document is available on EDGAR.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 14 -</font></div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(f)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Earnings Statement</u>.
      The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company&#8217;s current fiscal quarter, an earnings statement covering a 12-month period that satisfies
      the provisions of Section&#160;11(a) and Rule&#160;158 of the Securities Act. For the avoidance of doubt, the Company&#8217;s compliance with the reporting requirements of the Exchange Act shall be deemed to satisfy the requirements of this <u>Section 7(f)</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(g)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Expenses</u>. The
      Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, in accordance with the provisions of <u>Section&#160;11</u> hereunder, will pay the following expenses all incident to the performance of its
      obligations hereunder, including, but not limited to, expenses relating to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement
      thereto, (ii) the preparation, issuance and delivery of the Placement Shares, (iii) the qualification of the Placement Shares under securities laws in accordance with the provisions of <u>Section&#160;7(d)</u> of this Agreement, including filing fees
      (provided, however, that any fees or disbursements of counsel for Cowen in connection therewith shall be paid by Cowen except as set forth in (vii) below), (iv) the printing and delivery to Cowen of copies of the Prospectus and any amendments or
      supplements thereto, and of this Agreement, (v) the fees and expenses incurred in connection with the listing or qualification of the Placement Shares for trading on Nasdaq, (vi) the filing fees and expenses, if any, of the Commission, (vii) the
      filing fees for filings with the FINRA Corporate Financing Department, and (viii) the reasonable fees and disbursements of Cowen&#8217;s counsel in an amount not to exceed $50,000; provided, however, in no event shall the total compensation paid to Cowen,
      including reimbursements of fees, expenses and disbursements of its counsel, exceed 8.0% of the gross proceeds to the Company from the sale of Placement Shares.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(h)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Use of Proceeds</u>.
      The Company will use the Net Proceeds as described in the Prospectus in the section entitled &#8220;Use of Proceeds.&#8221;</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(i)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Notice of Other Sales</u>.
      During the pendency of any Placement Notice given hereunder, and for 5 Trading Days following the termination of any Placement Notice given hereunder, the Company shall provide Cowen notice as promptly as reasonably possible before it offers to sell,
      contracts to sell, sells, grants any option to sell or otherwise disposes of any shares of Common Stock (other than Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Common
      Stock, warrants or any rights to purchase or acquire Common Stock; <font style="font-style: italic;">provided</font>, that such notice shall not be required in connection with the (i) issuance, grant or sale of Common Stock, options to purchase
      shares of Common Stock or Common Stock issuable upon the exercise of options or other equity awards pursuant to any stock option, stock bonus or other stock plan or arrangement described in the Registration Statement or the Prospectus, (ii) issuance
      of securities in connection with an acquisition, merger or sale or purchase of assets, (iii) issuance or sale of Common Stock pursuant to any dividend reinvestment plan that the Company may adopt from time to time provided the implementation of such
      is disclosed to Cowen in advance, (iv) issuance of any Common Stock issuable upon the exchange, conversion or redemption of securities or the exercise of warrants, options or other rights in effect or outstanding or (v) the issuance or sale of any
      Common Stock, or securities convertible into or exercisable for Common Stock, offered and sold in a privately negotiated transaction to vendors, customers, investors, strategic partners or potential strategic partners and otherwise conducted in a
      manner so as not to be integrated with the offering of Common Stock hereby. Notwithstanding the foregoing, nothing herein shall be construed to restrict the Company&#8217;s ability, or require the Company to provide notice to Cowen, to file a registration
      statement under the Securities Act.</font></div>
  <div>&#160;</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 15 -</font></div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(j)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Change of
        Circumstances</u>. The Company will, at any time during the pendency of a Placement Notice, advise Cowen promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any
      material respect any opinion, certificate, letter or other document provided to Cowen pursuant to this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(k)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Due Diligence
        Cooperation</u>. During the term of this Agreement, the Company will cooperate with any reasonable due diligence review conducted by Cowen or its agents in connection with the transactions contemplated hereby, including, without limitation,
      providing information and making available documents and senior corporate officers, during regular business hours and at the Company&#8217;s principal offices or such other location mutually agreeable by the parties, as Cowen may reasonably request.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(l)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Required Filings
        Relating to Placement of Placement Shares</u>. The Company agrees that on or before such dates as the Securities Act shall require, the Company will (i)&#160;file a prospectus supplement with the Commission under the applicable paragraph of Rule&#160;424(b)
      under the Securities Act (each and every filing under Rule&#160;424(b), a &#8220;<font style="font-weight: bold;"><u>Filing Date</u></font>&#8221;), which prospectus supplement will set forth, to the extent required, within the relevant period, the amount of
      Placement Shares sold through Cowen, the Net Proceeds to the Company and the compensation payable by the Company to Cowen with respect to such Placement Shares (provided that the Company may satisfy its obligations under this <u>Section 7(l)(i)</u>
      by effecting a filing in accordance with the Exchange Act with respect to such information), and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by
      the rules or regulations of such exchange or market.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(m)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Representation Dates;
        Certificate</u>. On or prior to the First Delivery Date and each time the Company (i) files the Prospectus relating to the Placement Shares or amends or supplements the Registration Statement or the Prospectus relating to the Placement Shares
      (other than a prospectus supplement filed in accordance with <u>Section&#160;7(l)</u> of this Agreement) by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to the Registration
      Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on Form&#160;10-K under the Exchange Act; (iii) files its quarterly reports on Form&#160;10-Q under the Exchange Act; or (iv) files a current report on Form&#160;8-K
      containing amended financial information which is deemed to be incorporated by reference in the Registration Statement and the Prospectus under the Exchange Act (each date of filing of one or more of the documents referred to in clauses (i) through
      (iv) shall be a &#8220;<font style="font-weight: bold;"><u>Representation Date</u></font>&#8221;); the Company shall furnish Cowen with a certificate, in the form attached hereto as <u>Exhibit&#160;7(m)</u> within two (2) Trading Days of any Representation Date. The
      requirement to provide a certificate under this <u>Section&#160;7(m)</u> shall be automatically waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the
      date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form 10-K. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement
      Shares following a Representation Date when the Company relied on such waiver and did not provide Cowen with a certificate under this <u>Section&#160;7(m)</u>, then before the Company delivers the Placement Notice or Cowen sells any Placement Shares, the
      Company shall provide Cowen with a certificate, in the form attached hereto as <u>Exhibit 7(m)</u>, dated the date of the Placement Notice.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 16 -</font></div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(n)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Legal Opinion</u>. On
      or prior to the First Delivery Date and within two (2) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <u>Exhibit 7(m)</u> for which no waiver is
      applicable, the Company shall cause to be furnished to Cowen a written opinion of Cooley LLP (&#8220;<u>Company Counsel</u>&#8221;), or other counsel satisfactory to Cowen, in form and substance satisfactory to Cowen and its counsel, dated the date that the
      opinion is required to be delivered, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>,
      that in lieu of such opinions for subsequent Representation Dates, Company Counsel may furnish Cowen with a letter (a &#8220;<font style="font-weight: bold;"><u>Reliance Letter</u></font>&#8221;) to the effect that Cowen may rely on a prior opinion delivered
      under this <u>Section&#160;7(n)</u> to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such
      Representation Date).</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(o)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Comfort Letter</u>.
      On or prior to the First Delivery Date and within the later of (i) two (2) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <u>Exhibit&#160;7(m)</u> for which
      no waiver is applicable or (ii) the date a Placement Notice is first delivered by the Company following a Representation Date, the Company shall cause its independent accountants to furnish Cowen letters (the &#8220;<font style="font-weight: bold;"><u>Comfort
          Letters</u></font>&#8221;), dated the date the Comfort Letter is delivered, in form and substance reasonably satisfactory to Cowen, (A) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act
      and the PCAOB, (B) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#8217; &#8220;comfort letters&#8221; to Cowen in connection with registered public
      offerings (the first such letter, the &#8220;<font style="font-weight: bold;"><u>Initial Comfort Letter</u></font>&#8221;) and (C) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been
      given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(p)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Market Activities</u>.
      The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to
      facilitate the sale or resale of the Placement Shares or (ii) sell, bid for, or purchase the Placement Shares to be issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Placement Shares other than
      Cowen; <font style="font-style: italic;">provided, however</font>, that the Company may bid for and purchase Common Stock in accordance with Rule&#160;10b-18 under the Exchange Act.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(q)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Insurance</u>. The
      Company and its subsidiaries shall maintain, or cause to be maintained, insurance in such amounts and covering such risks as is reasonable and customary for the business for which it is engaged, except where the failure to do so would not reasonably
      be expected to result in a Material Adverse Change.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(r)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compliance with Laws</u>.
      The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by applicable federal, state and local law in order to conduct their businesses as
      described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable
      environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and authorizations would not reasonably be expected to result in a Material Adverse Change.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(s)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Investment Company
        Act</u>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be, at any time prior to the termination of this Agreement, required to register as an &#8220;investment company,&#8221; as such
      term is defined in the Investment Company Act, assuming no change in the Commission&#8217;s current interpretation as to entities that are not considered an investment company.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(t)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Securities Act and
        Exchange Act</u>. The Company will use its reasonable efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or
      dealings in, the Placement Shares as contemplated by the provisions hereof and the Prospectus.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(u)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Offer to Sell</u>.
      Other than the Prospectus or a free writing prospectus (as defined in Rule&#160;405) approved in advance by the Company and Cowen in its capacity as principal or agent hereunder, neither Cowen nor the Company (including its agents and representatives,
      other than Cowen in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule&#160;405), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an
      offer to buy Placement Shares hereunder.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(v)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Sarbanes-Oxley Act</u>.
      The Company and its subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">8.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Conditions to Cowen&#8217;s Obligations</u>.
      The obligations of Cowen hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations
      hereunder, to the completion by Cowen of a due diligence review satisfactory to Cowen in its reasonable judgment, and to the continuing satisfaction (or waiver by Cowen in its sole discretion) of the following additional conditions:</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Registration
        Statement Effective</u>. The Registration Statement shall be effective and shall be available for (i) all sales of Placement Shares issued pursuant to all prior Placement Notices and (ii) the sale of all Placement Shares contemplated to be issued
      by any Placement Notice.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Material Notices</u>.
      None of the following events shall have occurred and be continuing: (i) receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the
      period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&#160;the issuance by the Commission or any other federal or state
      governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the
      qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv) the occurrence of any event that makes any material statement made
      in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related
      Prospectus or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
      statements therein not misleading and, that in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
      therein, in the light of the circumstances under which they were made, not misleading.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Material
        Misstatement or Material Omission</u>. Cowen shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Cowen&#8217;s reasonable opinion is
      material, or omits to state a fact that in Cowen&#8217;s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Material Changes</u>.
      Except as contemplated in the Prospectus, or disclosed in the Company&#8217;s reports filed with the Commission, there shall not have been any material adverse change, on a consolidated basis, in the authorized capital stock of the Company or any Material
      Adverse Change or any development that could reasonably be expected to result in a Material Adverse Change, or any downgrading in or withdrawal of the rating assigned to any of the Company&#8217;s securities (other than asset backed securities) by any
      rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company&#8217;s securities (other than asset backed securities), the effect of which, in the case of any such action
      by a rating organization described above, in the reasonable judgment of Cowen (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering
      of the Placement Shares on the terms and in the manner contemplated in the Prospectus.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(e)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Company Counsel Legal
        Opinion</u>. Cowen shall have received the opinions of Company Counsel required to be delivered pursuant to <u>Section&#160;7(n)</u> on or before the date on which such delivery of such opinion is required pursuant to <u>Section&#160;7(n)</u>.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(f)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Cowen Counsel Legal
        Opinion</u>. Cowen shall have received from Nelson Mullins Riley &amp; Scarborough LLP, counsel for Cowen, such opinion or opinions, on or before the date on which the delivery of the Company Counsel legal opinion is required pursuant to <u>Section&#160;7(n)</u>,
      with respect to such matters as Cowen may reasonably require, and the Company shall have furnished to such counsel such documents as they request for enabling them to pass upon such matters.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(g)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Comfort Letter</u>.
      Cowen shall have received the Comfort Letter required to be delivered pursuant to <u>Section&#160;7(o)</u> on or before the date on which such delivery of such Comfort Letter is required pursuant to <u>Section&#160;7(o)</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(h)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Representation
        Certificate</u>. Cowen shall have received the certificate required to be delivered pursuant to <u>Section&#160;7(m)</u> on or before the date on which delivery of such certificate is required pursuant to <u>Section&#160;7(m)</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(i)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Secretary&#8217;s
        Certificate</u>. On or prior to the First Delivery Date, Cowen shall have received a certificate, signed on behalf of the Company by its corporate Secretary, in form and substance satisfactory to Cowen and its counsel.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(j)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Suspension</u>.
      Trading in the Common Stock shall not have been suspended on Nasdaq.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(k)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Other Materials</u>.
      On each date on which the Company is required to deliver a certificate pursuant to <u>Section&#160;7(m)</u>, the Company shall have furnished to Cowen such appropriate further information, certificates and documents as Cowen may have reasonably
      requested. All such opinions, certificates, letters and other documents shall have been in compliance with the provisions hereof. The Company will furnish Cowen with such conformed copies of such opinions, certificates, letters and other documents as
      Cowen shall have reasonably requested.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(l)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Securities Act
        Filings Made</u>. All filings with the Commission required by Rule&#160;424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such
      filing by Rule&#160;424.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(m)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Approval for Listing</u>.
      The Placement Shares shall either have been (i) approved for listing on Nasdaq, subject only to notice of issuance, or (ii) the Company shall have filed an application for listing of the Placement Shares on Nasdaq at, or prior to, the issuance of any
      Placement Notice.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(n)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>No Termination Event</u>.
      There shall not have occurred any event that would permit Cowen to terminate this Agreement pursuant to <u>Section&#160;11(a)</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">9.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Indemnification and Contribution</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Company
        Indemnification</u>. The Company agrees to indemnify and hold harmless Cowen, the directors, officers, partners, employees and agents of Cowen and each person, if any, who (i) controls Cowen within the meaning of Section&#160;15 of the Securities Act or
      Section&#160;20 of the Exchange Act, or (ii) is controlled by or is under common control with Cowen (a &#8220;<font style="font-weight: bold;"><u>Cowen Affiliate</u></font>&#8221;) from and against any and all losses, claims, liabilities, expenses and damages
      (including, but not limited to, any and all reasonable investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with <u>Section&#160;9(c)</u>) of, any action, suit or proceeding
      between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which Cowen, or any such person, may become subject under the
      Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (A) any untrue
      statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement to the Registration Statement or the Prospectus or in any free writing prospectus or in any application
      or other document executed by or on behalf of the Company or based on written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof or filed with the
      Commission, (B) the omission or alleged omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it not misleading or (C) any breach by any of the indemnifying parties of any of their
      respective representations, warranties and agreements contained in this Agreement; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that this indemnity agreement shall not apply to the extent that
      such loss, claim, liability, expense or damage arises from the sale of the Placement Shares pursuant to this Agreement and is caused directly or indirectly by an untrue statement or omission made in reliance upon and in conformity with the Agent&#8217;s
      Information. This indemnity agreement will be in addition to any liability that the Company might otherwise have. &#8220;Agent&#8217;s information&#8221; means solely the following information in the Prospectus: the fifth (5th) paragraph and the third (3rd) sentence
      in the eighth (8th) paragraph under the caption &#8220;Plan of Distribution&#8221; in the Prospectus Supplement.</font></div>
  <div>&#160;</div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Cowen Indemnification</u>.
      Cowen agrees to indemnify and hold harmless the Company and its directors and each officer and director of the Company that signed the Registration Statement, and each person, if any, who (i)&#160;controls the Company within the meaning of Section&#160;15 of
      the Securities Act or Section&#160;20 of the Exchange Act or (ii) is controlled by or is under common control with the Company against any and all loss, liability, claim, damage and expense described in the indemnity contained in <u>Section&#160;9(a)</u>, as
      incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto) or the Prospectus (or any amendment or supplement thereto) in reliance upon
      and in conformity with the Agent&#8217;s Information.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Procedure</u>. Any
      party that proposes to assert the right to be indemnified under this <u>Section&#160;9 </u>will, promptly after receipt of written notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying
      party or parties under this <u>Section&#160;9</u>, notify in writing each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the failure to so notify such indemnifying party will not relieve the
      indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this <u>Section&#160;9</u> and (ii) any liability that it may have to any indemnified party under the foregoing provision of this <u>Section&#160;9</u>
      unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its
      commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified
      party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its
      election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable and documented costs of investigation subsequently incurred by
      the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party
      unless (A) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (B) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it
      or other indemnified parties that are different from or in addition to those available to the indemnifying party, (C) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the
      indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (D) the indemnifying party has not in fact employed counsel to assume the defense of such
      action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is
      understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted
      to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly after the indemnifying party receives a written invoice
      relating to fees, disbursements and other charges in reasonable detail. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the
      prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this <u>Section&#160;9</u> (whether or not any
      indemnified party is a party thereto), unless such settlement, compromise or consent includes (1) an unconditional release of each indemnified party from all liability arising or that may arise out of such claim, action or proceeding and (2) does not
      include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.</font></div>
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  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Contribution</u>. In
      order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this <u>Section&#160;9</u> is applicable in accordance with its terms but for any reason is held to be
      unavailable from the Company or Cowen, the Company and Cowen will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount
      paid in settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than Cowen, such as persons who control the Company within the meaning of the Securities Act,
      officers of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and Cowen may be subject in such proportion as shall be appropriate to reflect the relative
      benefits received by the Company on the one hand and Cowen on the other. The relative benefits received by the Company on the one hand and Cowen on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of
      the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by Cowen from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing sentence
      is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the
      one hand, and Cowen, on the other, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such
      offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the
      Company or Cowen, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and Cowen agree that it would not be just and equitable if contributions
      pursuant to this <u>Section&#160;9(d)</u> were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified
      party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this <u>Section&#160;9(d)</u> shall be deemed to include, for the purpose of this <u>Section&#160;9(d)</u>, any legal or other expenses
      reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with <u>Section&#160;9(c)</u> hereof. Notwithstanding the foregoing provisions of this <u>Section&#160;9(d)</u>,
      Cowen shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section&#160;11(f) of the Securities Act) will be
      entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this <u>Section&#160;9(d)</u>, any person who controls a party to this Agreement within the meaning of the Securities Act, and any officers,
      directors, partners, employees or agents of Cowen, will have the same rights to contribution as that party, and each officer and director of the Company who signed the Registration Statement will have the same rights to contribution as the Company,
      subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under this <u>Section&#160;9(d)</u>,
      will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this <u>Section&#160;9(d)</u>
      except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of <u>Section&#160;9(c)</u>
      hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to <u>Section&#160;9(c)</u> hereof.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 23 -</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">10.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Representations and Agreements to
        Survive Delivery</u>. The indemnity and contribution agreements contained in <u>Section&#160;9</u> of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their
      respective dates, regardless of (i) any investigation made by or on behalf of Cowen, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares
      and payment therefor or (iii) any termination of this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">11.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Termination.</u></font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Cowen shall have the
      right by giving written notice as hereinafter specified at any time to terminate this Agreement if (i) any Material Adverse Change, or any development that would reasonably be expected to result in a Material Adverse Change has occurred that, in the
      reasonable judgment of Cowen, may materially impair the ability of Cowen to sell the Placement Shares hereunder, (ii) the Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; <font style="font-style: italic;">provided, however,</font> in the case of any failure of the Company to deliver (or cause another person to deliver) any certification, opinion, or letter required under <u>Sections</u>&#160;<u>7(m)</u>, <u>7(n)</u>, or <u>7(o)</u>,
      Cowen&#8217;s right to terminate shall not arise unless such failure to deliver (or cause to be delivered) continues for more than thirty (30) days from the date such delivery was required; or (iii)&#160;any other condition of Cowen&#8217;s obligations hereunder is
      not fulfilled, or (iv), any suspension or limitation of trading in the Placement Shares or in securities generally on Nasdaq shall have occurred. Any such termination shall be without liability of any party to any other party except that the
      provisions of <u>Section&#160;7(g)</u>, <u>Section&#160;9</u>, <u>Section&#160;10</u>, <u>Section&#160;16</u> and <u>Section&#160;17</u> hereof shall remain in full force and effect notwithstanding such termination. If Cowen elects to terminate this Agreement as
      provided in this <u>Section&#160;11(a)</u>, Cowen shall provide the required written notice as specified in <u>Section&#160;12</u>.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">The Company shall have
      the right, by giving ten (10) days&#8217; notice as hereinafter specified to terminate this Agreement in its sole di<font style="font-weight: normal;">scretion at any time after the date of this Agreement. Any such terminati</font>on shall be without
      liability of any party to any other party except that the provisions of <u>Section&#160;7(g)</u>, <u>Section&#160;9</u>, <u>Section&#160;10</u>, <u>Section&#160;16</u> and <u>Section&#160;17</u> hereof shall remain in full force and effect notwithstanding such
      termination.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Cowen shall have the
      right, by giving ten (10) days&#8217; notice as hereinafter specified to terminate this Agreement in its s<font style="color: rgb(0, 0, 0);">ole discre<font style="font-weight: normal;">tion at any time after the date of this Agreement. Any such ter</font>mination
        shall be without liability of any party to any other</font> party except that the provisions of <u>Section&#160;7(g)</u>, <u>Section&#160;9</u>, <u>Section&#160;10</u>, <u>Section&#160;16</u> and <u>Section&#160;17</u> hereof shall remain in full force and effect
      notwithstanding such termination.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 24 -</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Unless earlier
      terminated pursuant to this <u>Section&#160;11</u>, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Shares through Cowen on the terms and subject to the conditions set forth herein; <font style="font-style: italic;">provided</font> that the provisions of <u>Section&#160;7(g)</u>, <u>Section&#160;9</u>, <u>Section&#160;10</u>, <u>Section&#160;16</u> and <u>Section&#160;17</u> hereof shall remain in full force and effect notwithstanding such termination.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(e)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">This Agreement shall
      remain in full force and effect unless terminated pursuant to <u>Sections 11(a)</u>, <u>(b)</u>, <u>(c)</u>, or <u>(d)</u> above or otherwise by mutual agreement of the parties; <font style="font-style: italic;">provided, however, </font>that
      any such termination by mutual agreement shall in all cases be deemed to provide that <u>Section&#160;7(g)</u>, <u>Section&#160;9</u>, <u>Section&#160;10</u>, <u>Section&#160;16</u> and <u>Section&#160;17</u> shall remain in full force and effect.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(f)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Any termination of this
      Agreement shall be effective on the date specified in such notice of termination; <font style="font-style: italic;">provided, however,</font> that such termination shall not be effective until the close of business on the date of receipt of such
      notice by Cowen or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(g)&#160;</font><font style="font-size: 10pt;">In the event of termination
      of this Agreement prior to the sale of any Placement Shares, Cowen shall be entitled only to payment by the Company of the expenses set forth in <font style="font-family: 'Times New Roman',Times,serif;"><u>Section 7(g)</u></font> of this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">12.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Notices</u>. All notices or other
      communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified in this Agreement, and if sent to Cowen, shall be delivered to Cowen at Cowen and
      Company, LLC, 599 Lexington Avenue, New York, NY 10022, fax no. 646-562-1130, Attention: General Counsel, with a copy to Nelson Mullins Riley &amp; Scarborough LLP, fax no.&#160;(202) 689-2860, attention: Jonathan Talcott; or if sent to the Company, shall
      be delivered to MacroGenics, Inc., 9704 Medical Center Drive, Rockville, Maryland 20850, fax no. (301) 354-2683, attention: General Counsel, with a copy to Cooley LLP, fax no. (212) 479-6275, attention: Eric Blanchard. Each party to this Agreement
      may change such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile
      transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day (as defined below), or, if such day is not a Business Day on the next succeeding Business Day, (ii) on the next Business Day after timely delivery
      to a nationally-recognized overnight courier and (iii) on the Business<font style="font-weight: bold;">&#160;</font>Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes
      of this Agreement, &#8220;<font style="font-weight: bold;"><u>Business Day</u></font>&#8221; shall mean any day on which the Nasdaq and commercial banks in the City of New York are open for business. An electronic communication (&#8220;<font style="font-weight: bold;"><u>Electronic
          Notice</u></font>&#8221;) shall be deemed written notice for purposes of this <u>Section 12</u> if sent to the electronic mail address specified by the receiving party under separate cover and confirmed by such receiving party in writing (including
      via email or fax). Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (&#8220;<font style="font-weight: bold;"><u>Nonelectronic Notice</u></font>&#8221;) which shall be sent to the
      requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 25 -</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">13.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Successors and Assigns</u>. This
      Agreement shall inure to the benefit of and be binding upon the Company and Cowen and their respective successors and the affiliates, controlling persons, officers and directors referred to in <u>Section&#160;9</u> hereof. References to any of the
      parties contained in this Agreement shall be deemed to include the successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective
      successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without
      the prior written consent of the other party; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that Cowen may assign its rights and obligations hereunder to an affiliate of Cowen without obtaining
      the Company&#8217;s consent.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">14.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Adjustments for Share Splits</u>. The
      parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected with respect to the Common Stock.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">15.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Entire Agreement; Amendment;
        Severability</u>. This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings,
      both written and oral, among the parties hereto with regard to the subject matter hereof, including the Sales Agreement dated December 23, 2019, as amended, between the parties hereto, which Sales Agreement the parties hereto agree is terminated by
      entering into this Agreement. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and Cowen. In the event that any one or more of the provisions contained herein, or the
      application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and
      enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the
      remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">16.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Applicable Law; Consent to Jurisdiction</u>.
      This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the
      state and federal courts sitting in the City of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any
      suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
      Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the
      address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
      in any manner permitted by law.</font></div>
  <div>&#160;</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 26 -</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
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  </div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">17.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Waiver of Jury Trial</u>. The Company
      and Cowen each hereby irrevocably waives any right it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">18.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Absence of Fiduciary Relationship</u><font style="font-style: italic;">. </font>The Company acknowledges and agrees that:</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(a)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">Cowen has been retained
      solely to act as sales agent in connection with the sale of the Common Stock and that no fiduciary, advisory or agency relationship between the Company and Cowen has been created in respect of any of the transactions contemplated by this Agreement,
      irrespective of whether Cowen has advised or is advising the Company on other matters;</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(b)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">the Company is capable
      of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement;</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(c)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">the Company has been
      advised that Cowen and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and that Cowen has no obligation to disclose such interests and transactions to the Company by virtue
      of any fiduciary, advisory or agency relationship; and</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">(d)&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">the Company waives, to
      the fullest extent permitted by law, any claims it may have against Cowen, for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that Cowen shall have no liability (whether direct or indirect) to the Company in respect of such a
      fiduciary claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, partners, employees or creditors of the Company.</font></div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">19.&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Counterparts</u>. This Agreement may be
      executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile
      transmission.</font></div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">[Remainder of Page Intentionally Blank]</div>
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  </div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">If the foregoing correctly sets forth the understanding between the Company and Cowen, please so indicate in the space provided below for that purpose,
    whereupon this letter shall constitute a binding agreement between the Company and Cowen.</div>
  <div>&#160;</div>
  <div>
    <table id="zdace145820b44b678c5b14a9732dc3f1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
          <td colspan="2" rowspan="1">Very truly yours,</td>
        </tr>
        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
          <td colspan="2" rowspan="1"><br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
          <td colspan="2" rowspan="1" style="font-weight: bold;">COWEN AND COMPANY, LLC</td>
        </tr>
        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
          <td style="width: 3%;">
            <div>&#160;</div>
          </td>
          <td style="width: 47%;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; padding-bottom: 2px;">
            <div>&#160;</div>
          </td>
          <td style="width: 3%; padding-bottom: 2px;">By:</td>
          <td style="width: 47%; border-bottom: 2px solid rgb(0, 0, 0);"> /s/ Michael Murphy<br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
          <td style="width: 3%;">Name:&#160; <br>
          </td>
          <td style="width: 47%;">Michael Murphy<br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%;">
            <div>&#160;</div>
          </td>
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  <div>&#160;</div>
  <div>&#160;</div>
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  <div>&#160;</div>
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  <div>&#160;</div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Gentlemen:</div>
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  <div>&#160;</div>
  <div><br>
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  <div>&#160;</div>
  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Company</u></div>
  <div>&#160;</div>
  <div style="font-family: 'Times New Roman',Times,serif;">Jim Karrels, Senior Vice President, Chief Financial Officer and Secretary, email: karrelsj@macrogenics.com</div>
  <div>&#160;</div>
  <div style="font-family: 'Times New Roman',Times,serif;">Lynn Cilinski, Vice President, Controller and Treasurer, email: cilinskil@macrogenics.com</div>
  <div>&#160;</div>
  <div style="font-family: 'Times New Roman',Times,serif;">Jeff Peters, Vice President and General Counsel, email: petersj@macrogenics.com</div>
  <div>&#160;</div>
  <div><br>
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  <div>&#160;</div>
  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Cowen</u></div>
  <div><br>
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  <div style="font-family: 'Times New Roman',Times,serif;">Michael Murphy, Managing Director, email: michael.murphy@cowen.com</div>
  <div><br>
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  <div style="font-family: 'Times New Roman',Times,serif;">William Follis, Managing Director, email: william.follis@cowen.com</div>
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  <div>&#160;</div>
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  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>OFFICER CERTIFICATE</u></div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>&#160;</div>
  <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">The undersigned, the duly qualified and elected _______________________, of MacroGenics, Inc., a Delaware corporation (&#8220;<font style="font-weight: bold;"><u>Company</u></font>&#8221;),
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  <div>&#160;</div>
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      same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent such
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  <div>&#160;</div>
  <div><br>
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          <td style="width: 3%;">
            <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 3%; padding-bottom: 2px;"><font style="font-family: 'Times New Roman',Times,serif;">Date:&#160; <br>
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          <td style="width: 3%;">
            <div>&#160;</div>
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            <div>&#160;</div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>nt10016582x1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<body style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
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    <div style="text-align: right;">
      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"><font style="font-weight: bold;">Exhibit 5.1</font><br>
    </div>
    <div><br>
    </div>
    <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
    <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
    <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020</div>
    <br>
    <div style="font-family: 'Times New Roman', Times, serif;">Eric Blanchard</div>
    <div style="font-family: 'Times New Roman', Times, serif;">+1 212 479 6565</div>
    <div style="font-family: 'Times New Roman', Times, serif;">eblanchard@cooley.com</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', Times, serif;">November 4, 2020</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', Times, serif;">MacroGenics, Inc.</div>
    <div style="font-family: 'Times New Roman', Times, serif;">9704 Medical Center Drive</div>
    <div style="font-family: 'Times New Roman', Times, serif;">Rockville, MD 20850</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', Times, serif;">Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">We have acted as counsel to MacroGenics, Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Company</font>&#8221;), in connection with the filing of a Registration Statement on Form S-3 (the &#8220;<font style="font-weight: bold; font-style: italic;">Registration Statement</font>&#8221;) by the Company under the Securities Act of 1933, as amended (the &#8220;<font style="font-weight: bold; font-style: italic;">Securities Act</font>&#8221;).
      The Registration Statement includes two prospectuses: (i) a base prospectus (the &#8220;<font style="font-weight: bold; font-style: italic;">Base Prospectus</font>&#8221;) and (ii) a sales agreement
      prospectus (the &#8220;<font style="font-weight: bold; font-style: italic;">Sales Agreement Prospectus</font>&#8221;), covering up to $100,000,000 of shares of common stock, par value $0.01 per
      share, of the Company (&#8220;<font style="font-weight: bold; font-style: italic;">Common Stock</font>&#8221;) that may be sold under the Sales Agreement dated November 4, 2020, between the Company
      and Cowen and Company, LLC (such agreement, the &#8220;Sales Agreement,&#8221; and such shares, the &#8220;<font style="font-weight: bold; font-style: italic;">Placement Shares</font>&#8221;). The Base
      Prospectus provides it will be supplemented in the future by one or more prospectus supplements (each, a &#8220;<font style="font-weight: bold; font-style: italic;">Prospectus Supplement</font>&#8221;).
      The Registration Statement, including the Base Prospectus (as supplemented from time to time by one or more Prospectus Supplements), and the Sales Agreement Prospectus will provide for the registration by the Company of:</div>
    <div><br>
    </div>
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        <tr>
          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">shares of Common Stock (the &#8220;<font style="font-weight: bold; font-style: italic;">Base Prospectus Shares</font>&#8221;);</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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        <tr>
          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">shares of preferred stock, par value $0.01 per share, of the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Preferred Stock</font>&#8221;);</div>
          </td>
        </tr>

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    <div><br>
    </div>
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          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">one or more series of senior or subordinated debt securities (the &#8220;<font style="font-weight: bold; font-style: italic;">Debt Securities</font>&#8221;), which may be issued pursuant to an indenture to be dated on or about the date of the first issuance of Debt Securities thereunder, by and between a trustee to be selected by the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Trustee</font>&#8221;) and the Company, in the forms incorporated by reference as Exhibit 4.2 (the &#8220;<font style="font-weight: bold; font-style: italic;">Senior Indenture</font>&#8221;) and Exhibit 4.3 (the &#8220;<font style="font-weight: bold; font-style: italic;">Subordinated Indenture</font>&#8221;) to the Registration Statement and one or more indentures supplemental thereto with respect to any particular series of Debt Securities;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">warrants to purchase Common Stock, Preferred Stock or Debt Securities (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrants</font>&#8221;), which may be issued under one or more warrant agreements, to be dated on or about the date of the first issuance of the Warrants thereunder (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrant Agreement</font>&#8221;), by and between a warrant agent to be selected by the Company (the &#8220;<font style="font-weight: bold; font-style: italic;">Warrant Agent</font>&#8221;) and the Company;</div>
          </td>
        </tr>

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    <div><br>
    </div>
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          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">units consisting of any combination of Common Stock, Preferred Stock, Debt Securities or Warrants (the &#8220;<font style="font-weight: bold; font-style: italic;">Units</font>&#8221;), which may be issued pursuant to one or more unit agreements (each a &#8220;<font style="font-weight: bold; font-style: italic;">Unit Agreement</font>&#8221;) to be dated on or about the date of the first issuance of Units thereunder; and</div>
          </td>
        </tr>

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    <div><br>
    </div>
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        <tr>
          <td style="width: 0pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">the Placement Shares.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
    <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">f: (212) 479-6275 cooley.com</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div>
      <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">The Base Prospectus Shares, the Preferred Stock, the Debt Securities, the Warrants, the Units and the Placement Shares are collectively referred to herein
      as the &#8220;<font style="font-weight: bold; font-style: italic;">Securities</font>.&#8221; The Securities are
      being registered for offer and sale from time to time pursuant to Rule 415 under the Securities Act.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">In connection with this opinion, we have examined and relied upon such records, documents, certificates, opinions, memoranda and other instruments as in
      our judgment are necessary or appropriate to enable us to render the opinion expressed below. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not independently verified such matters.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">In rendering this opinion, we have assumed the genuineness and authenticity of all signatures on original documents; the authenticity of all documents
      submitted to us as originals; the conformity to originals of all documents submitted to us as copies; the accuracy, completeness and authenticity of certificates of public officials; and the due authorization, execution and delivery of all documents
      where authorization, execution and delivery are prerequisites to the effectiveness of such documents.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">With respect to our opinion as to the Base Prospectus Shares, we have assumed that, at the time of issuance and sale, a sufficient number of shares of
      Common Stock is authorized and available for issuance and that the consideration for the issuance and sale of the Base Prospectus Shares (or Preferred Stock or Debt Securities convertible into, or Warrants exercisable for, Common Stock) will be in an
      amount that is not less than the par value of the Common Stock. With respect to our opinion as to the Preferred Stock, we have assumed that, at the time of issuance and sale, a sufficient number of shares of Preferred Stock will be authorized,
      designated and available for issuance and that the consideration for the issuance and sale of the Preferred Stock (or Debt Securities convertible into, or Warrants exercisable for, Preferred Stock) will be in an amount that is not less than the par
      value of the Preferred Stock. We have also assumed that any Debt Securities offered under the Registration Statement, and the related Senior Indenture or Subordinated Indenture, as applicable, will be executed in the forms incorporated by reference
      as&#160; exhibits&#160; to&#160; the&#160; Registration&#160; Statement.&#160;&#160; We have&#160; also&#160; assumed&#160; that&#160; (i)&#160; with&#160; respect to Securities issuable upon conversion of any convertible Preferred Stock, such convertible Preferred Stock will be duly authorized, validly issued,
      fully paid and non-assessable; and (ii) with respect to any Securities issuable upon conversion of any convertible Debt Securities, upon exercise of any Warrants, or upon settlement of any Units, such convertible Debt Securities, Warrants or Units
      will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, arrangement, moratorium
      or other similar laws affecting creditors&#8217; rights, and subject to general equity principles and to limitations on availability of equitable relief, including specific performance.</div>
    <div><br>
    </div>
    <div>
      <div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">f: (212) 479-6275 cooley.com</div>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div>
      <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">With respect to the Placement Shares, we have assumed (i) that the specific sale of the Placement Shares will be duly authorized by the Board of Directors
      of the Company, a duly authorized committee thereof or a person or body pursuant to an authorization granted in accordance with Section 152 of the General Corporation Law of the State of Delaware (the ("<font style="font-weight: bold; font-style: italic;">DGCL</font>&#8221;) and (ii) that no more than 25,000,000 Placement Shares will be sold for a consideration no less than the par value of the Common Stock. With respect to the
      Placement Shares, we express no opinion to the extent that future issuances of securities of the Company and/or anti-dilution adjustments to outstanding securities of the Company cause the number of shares of Common Stock then authorized less the sum
      of the number of shares outstanding or committed to be issued to exceed the number of Placement Shares then issuable under the Sales Agreement.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Our opinion herein is expressed solely with respect to the DGCL and, as to the Debt Securities and the Warrants constituting valid and legally binding
      obligations of the Company, the laws of the State of New York. Our opinion is based on these laws as in effect on the date hereof. We express no opinion to the extent that any other laws are applicable to the subject matter hereof and express no
      opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">On the basis of the foregoing and in reliance thereon, and subject to the qualifications herein stated, we are of the opinion that:</div>
    <div><br>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">With respect to the Base
        Prospectus Shares offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendment thereto have become effective under the Securities Act and the Base Prospectus and any and all
        Prospectus Supplement(s) required by applicable laws have been delivered and filed as required by such laws; (ii) the issuance of the Base Prospectus Shares has been duly authorized by all necessary corporate action on the part of the Company;
        (iii) the issuance and sale of the Base Prospectus Shares do not violate any applicable law, are in conformity with the Company&#8217;s then operative certificate of incorporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Certificate of Incorporation</font>&#8221;) and bylaws (the &#8220;<font style="font-weight: bold; font-style: italic;">Bylaws</font>&#8221;), do not
        result in a default under or breach of any agreement or instrument binding upon the Company and comply with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; and (iv) the
        certificates, if any, for the Base Prospectus Shares have been duly executed by the Company, countersigned by the transfer agent therefor and duly delivered to the purchasers thereof against payment therefor, then the Base Prospectus Shares, when
        issued and sold as contemplated in the Registration Statement, the Base Prospectus and the related Prospectus Supplement(s) and in accordance with a duly authorized, executed and delivered purchase, underwriting or similar agreement, or upon
        conversion of any convertible Preferred Stock or convertible Debt Securities in accordance with their terms, upon exercise of any Warrants in accordance with their terms, or upon settlement of any Units in accordance with their terms, will be
        validly issued, fully paid and non-assessable.</font></div>
    <div><br>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">With respect to the Preferred
        Stock offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendment thereto have become effective under the Securities Act and the Base Prospectus and any and all Prospectus
        Supplement(s) required by applicable laws have been delivered and filed as required by such laws; (ii) the terms and issuance of the Preferred Stock have been duly authorized by all necessary corporate action on the part of the Company; (iii) the
        terms of the shares of Preferred Stock and their issuance and sale do not violate any applicable law, are in conformity with the Certificate of Incorporation and Bylaws, do not result in a default under or breach of any agreement or instrument
        binding upon the Company and comply with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; and (iv) the certificates, if any, for the Preferred Stock have been duly executed by
        the Company, countersigned by the transfer agent therefor and duly delivered to the purchasers thereof against payment therefor, then the Preferred Stock, when issued and sold as contemplated in the Registration Statement, the Base Prospectus and
        the related Prospectus Supplement(s) and in accordance with a duly authorized, executed and delivered purchase, underwriting or similar agreement, or upon conversion of any convertible Debt Securities in accordance with their terms, upon exercise
        of any Warrants in accordance with their terms, or upon settlement of any Units in accordance with their terms, will be validly issued, fully paid and non-assessable.</font></div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
      <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">f: (212) 479-6275 cooley.com</div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div>
      <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020<br>
        <br>
      </div>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">With respect to any series of
        the Debt Securities issued under the Subordinated Indenture or the Senior Indenture, as applicable, and offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendment thereto have
        become effective under the Securities Act and the Base Prospectus and any and all Prospectus Supplement(s) required by applicable laws have been delivered and filed as required by such laws; (ii) the Subordinated Indenture or Senior Indenture, as
        applicable, has been duly authorized by the Company and the Trustee by all necessary corporate action; (iii) the Subordinated Indenture or Senior Indenture, as applicable, in substantially the form incorporated by reference as an exhibit to the
        Registration Statement, has been duly executed and delivered by the Company and the Trustee, and has been qualified under the Trust Indenture Act of 1939, as amended; (iv) the issuance and terms of the Debt Securities have been duly authorized by
        the Company by all necessary corporate action; (v) the terms of the Debt Securities and of their issuance and sale have been duly established in conformity with the Subordinated Indenture or Senior Indenture, as applicable, so as not to violate any
        applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, so as to be in conformity with the Certificate of Incorporation and Bylaws, and so as to comply with any requirement or restriction
        imposed by any court or governmental body having jurisdiction over the Company; and (vi) the notes representing the Debt Securities have been duly executed and delivered by the Company and authenticated by the Trustee pursuant to the Subordinated
        Indenture or Senior Indenture, as applicable, and delivered against payment therefor, then the Debt Securities, when issued and sold in accordance with the Subordinated Indenture or Senior Indenture, as applicable, and a duly authorized, executed
        and delivered purchase, underwriting or similar agreement, or upon exercise of any Warrants in accordance with their terms or upon settlement of Units in accordance with their terms, will be valid and legally binding obligations of the Company,
        except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors&#8217; rights, generally, and by general equitable principles (regardless of whether such
        enforceability is considered in a proceeding at law or in equity).</font></div>
    <div><br>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">With respect to the Warrants
        issued under the Warrant Agreements and offered under the Registration Statement, provided that (i) the Registration Statement and any required post- effective amendment thereto have become effective under the Securities Act and the Base Prospectus
        and any and all Prospectus Supplement(s) required by applicable laws have been delivered and filed as required by such laws; (ii) the Warrant Agreement has been duly authorized by the Company and the Warrant Agent by all necessary corporate action;
        (iii) the Warrant Agreement has been duly executed and delivered by the Company and the Warrant Agent; (iv) the issuance and terms of the Warrants have been duly authorized by the Company by all necessary corporate action; (v) the terms of the
        Warrants and of their issuance and sale have been duly established in conformity with the Warrant Agreement and as described in the Registration Statement, the Base Prospectus and the related Prospectus Supplement(s), so as not to violate any
        applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, so as to be in conformity with the Certificate of Incorporation and Bylaws, and so as to comply with any requirement or restriction
        imposed by any court or governmental body having jurisdiction over the Company; and (vi) the Warrants have been duly executed and delivered by the Company and authenticated by the Warrant Agent pursuant to the Warrant Agreement and delivered
        against payment therefor, then the Warrants, when issued and sold as contemplated in the Registration Statement, the Base Prospectus and the Prospectus Supplement(s) and in accordance with the Warrant Agreement and a duly authorized, executed and
        delivered purchase, underwriting or similar agreement, or upon settlement of any Units in accordance with their terms, will be valid and legally binding obligations of the Company, except as enforcement thereof may be limited by bankruptcy,
        insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors&#8217; rights, generally, and by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in equity).</font></div>
    <div>
      <div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;"> <br>
        </div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">f: (212) 479-6275 cooley.com</div>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div>
      <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">With respect to the Units
        offered under the Registration Statement, provided that (i) the Registration Statement and any required post-effective amendment thereto have all become effective under the Securities Act and the Base Prospectus and any and all Prospectus
        Supplement(s) required by applicable laws have been delivered as required by such laws; (ii) the Units and any related Unit Agreement have been duly authorized by the Company by all necessary corporate action; (iii) any related Unit Agreement has
        been duly executed by the Company and each other party thereto, (iv) the terms of the Units and any related Unit Agreement have been duly established as described in the Registration Statement, the Base Prospectus and the related Prospectus
        Supplement(s), so as not to violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company, so as to be in conformity with the Certificate of Incorporation or Bylaws, and so as to comply
        with any applicable requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; and (v) to the extent applicable, the Units have been duly executed and delivered by the Company to the purchasers
        thereof against payment therefor pursuant to any related Unit Agreement, then the Units, when issued and sold as contemplated in the Registration Statement, the Prospectus and the Prospectus Supplement(s) and in accordance with any applicable duly
        authorized, executed and delivered purchase, underwriting or similar agreement, will be valid and legally binding obligations of the Company, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or
        other similar laws relating to or affecting creditors&#8217; rights generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding at law or in equity).</font></div>
    <div><br>
    </div>
    <div><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">The Placement Shares, when
        issued and paid for in accordance with the Sales Agreement and as provided in the Sales Agreement Prospectus, will be validly issued, fully paid and non- assessable.</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">*&#160; *&#160; *&#160; * *</div>
    <div>
      <div><br>
      </div>
      <div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
        <div style="text-align: center; text-indent: -10.2pt; margin-left: 11.15pt; font-family: 'Times New Roman', Times, serif;">f: (212) 479-6275 cooley.com</div>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
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        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div>
      <div><img src="nt10016582x1_ex5-1logo.jpg" height="65" border="0" width="200"></div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">Macrogenics, Inc.</div>
      <div style="margin-left: 1pt; margin-top: 0.6pt; font-family: 'Times New Roman', Times, serif;">November 4, 2020<br>
        <br>
      </div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm under the caption &#8220;Legal
      Matters&#8221; in the Base Prospectus and the Sales Agreement Prospectus.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Our opinion set forth above is limited to the matters expressly set forth in this letter, and no opinion is implied or may be inferred beyond the matters
      expressly stated. This opinion speaks only as to law and facts in effect or existing as of the date hereof, and we undertake no obligation or responsibility to update or supplement this opinion to reflect any facts or circumstances that may hereafter
      come to our attention or any changes in law that may hereafter occur.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5739db2df2d64cf2a060add86e5b072d" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 20%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Sincerely, Cooley LLP</div>
            </td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid black;">
              <div style="font-family: 'Times New Roman', Times, serif;">/s/ Eric Blanchard</div>
            </td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">By: Eric Blanchard</div>
            </td>
            <td style="width: 80%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <br>
    <div>
      <div style="font-family: 'Times New Roman', Times, serif; text-align: center;">Cooley LLP 55 Hudson Yards New York, NY&#160; 10001&#160; t: (212) 479-6000</div>
      <div style="font-family: 'Times New Roman', Times, serif; text-align: center;">f: (212) 479-6275 cooley.com
        <hr style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>nt10016582x1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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        <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 23.1</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">We consent to the reference to our firm under the caption &#8220;Experts&#8221; in the Registration Statement (Form S-3) and related Prospectus of MacroGenics, Inc.
        for the registration of common stock, preferred stock, debt securities, warrants, and units and to the incorporation by reference therein of our reports dated February 25, 2020, with respect to the consolidated financial statements of MacroGenics,
        Inc., and the effectiveness of internal control over financial reporting of MacroGenics, Inc., included in its Annual Report (Form 10-K) for the year ended December 31, 2019, filed with the Securities and Exchange Commission.</div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="font-family: 'Times New Roman', Times, serif;">/s/ Ernst &amp; Young LLP</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">Baltimore, MD</div>
      <div style="font-family: 'Times New Roman', Times, serif;">November 4, 2020
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    </div>
  </div>
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</html>
</TEXT>
</DOCUMENT>
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<DOCUMENT>
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<SEQUENCE>7
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
