<SEC-DOCUMENT>0001140361-21-012968.txt : 20210415
<SEC-HEADER>0001140361-21-012968.hdr.sgml : 20210415
<ACCEPTANCE-DATETIME>20210415172016
ACCESSION NUMBER:		0001140361-21-012968
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210409
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20210415
DATE AS OF CHANGE:		20210415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Brooklyn ImmunoTherapeutics, Inc.
		CENTRAL INDEX KEY:			0000748592
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				311103425
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11460
		FILM NUMBER:		21829391

	BUSINESS ADDRESS:	
		STREET 1:		140 58TH STREET, BUILDING A
		STREET 2:		SUITE 2100
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11220
		BUSINESS PHONE:		(212) 582-1199

	MAIL ADDRESS:	
		STREET 1:		140 58TH STREET, BUILDING A
		STREET 2:		SUITE 2100
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NTN BUZZTIME INC
		DATE OF NAME CHANGE:	20051230

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NTN COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALROY INDUSTRIES INC
		DATE OF NAME CHANGE:	19850411
</SEC-HEADER>
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      <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES <font style="color: rgb(0, 0, 0);">SECURITIES AND EXCHANGE COMMISSION</font></div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 8-K</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">CURRENT REPORT</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000;">Date of Report (Date of earliest event reported): <font style="font-weight: bold;">April 9, 2021</font></div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-size: 24pt; font-weight: bold;">BROOKLYN IMMUNOTHERAPEUTICS, INC.</div>
      <div style="text-align: center; color: #000000; font-style: italic;">(Exact Name of Registrant as Specified in its Charter)</div>
      <div>&#160;</div>
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              <div style="text-align: center; color: #000000; font-weight: bold;">Delaware</div>
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            <td style="width: 33.66%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-weight: bold;">001-11460</div>
            </td>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-weight: bold;">31-1103425</div>
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            <td style="width: 32.62%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-style: italic;">(State or Other Jurisdiction of Incorporation)</div>
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            <td style="width: 33.66%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-style: italic;">(Commission File Number)</div>
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              <div style="text-align: center; color: #000000; font-style: italic;">(IRS Employer Identification No.)</div>
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            <td style="width: 48%; vertical-align: bottom;">
              <div style="text-align: center; font-weight: bold;">140 58<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Street, Building A, Suite 2100</div>
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            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-weight: bold;">Brooklyn, New York</div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td style="width: 50%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-weight: bold;">11220</div>
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            <td style="width: 48%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-style: italic;">(Address of Principal Executive Offices)</div>
            </td>
            <td style="width: 2%; vertical-align: bottom;">&#160;</td>
            <td style="width: 50%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-style: italic;">(Zip Code)</div>
            </td>
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      <div>&#160;</div>
      <div style="text-align: center;"><font style="color: #000000;">Registrant&#8217;s telephone number, including area code:</font>&#160;<font style="font-weight: bold; color: #000000;">(212) 582-1199</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
      <div>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
            </td>
          </tr>

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      <div>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
            </td>
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      <div>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
            </td>
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      <div>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;">&#9744;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
            </td>
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      <div>&#160;</div>
      <div>Securities registered pursuant to Section 12(b) of the Act:</div>
      <div>&#160;</div>
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              <div style="text-align: center; color: #000000; font-weight: bold;">Title of each class</div>
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            <td style="width: 18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: #000000; font-weight: bold;">Trading symbol</div>
            </td>
            <td style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: #000000; font-weight: bold;">Name of each exchange on which registered</div>
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              <div style="color: rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0);">Common Stock, $0.005 par value per share</div>
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            <td style="width: 2%; vertical-align: middle;">&#160;</td>
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              <div style="text-align: center; color: #000000;">BTX</div>
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              <div style="text-align: center; color: #000000;">NYSE American</div>
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      </div>
      <div><font style="color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934:</font><font style="color: #000000;"></font></div>
      <div><font style="color: #000000;"> <br>
        </font></div>
      <div style="text-align: right;"><font style="color: rgb(0, 0, 0);">Emerging growth company&#160; </font>&#9744;<font style="color: rgb(0, 0, 0);"></font></div>
      <div>&#160;</div>
      <div style="color: #000000;">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 13(a) of the Exchange Act.&#160; &#9744;</div>
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            <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 1.01.</td>
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              <div style="font-weight: bold;">Entry into a Material Definitive Agreement.</div>
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      <div>&#160;</div>
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        <div>
          <div style="color: rgb(0, 0, 0);">As we have previously disclosed, our wholly owned subsidiary Brooklyn ImmunoTherapeutics LLC, or Brooklyn LLC, entered into option
            agreements, or the Agreements, with Novellus Therapeutics Limited and Factor Bioscience Limited, which we refer to together as the Licensors, in December 2020 to obtain the right, or the Option, to enter into a license agreement, or the License
            Agreement, for an exclusive worldwide license of the Licensors&#8217; intellectual property and mRNA cell reprogramming and gene editing technology for use in the development of certain cell&#8209;based therapies to be evaluated and developed for treating
            human diseases, including certain types of cancer and sickle cell disease.</div>
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        <div><br>
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        <div>Brooklyn LLC and the Licensors have been negotiating the proposed terms of the License Agreement that would be entered into upon an exercise of the Option. In accordance with the Agreements,
          the License Agreement would include Brooklyn LLC&#8217;s commitment to file an investigational new drug (IND) application or clinical trial application (CTA) seeking to develop a licensed product using the licensed technology within twenty-four months
          of the execution of the License Agreement and terms relating to the expiration and termination of the License Agreement. As also contemplated by the Agreements, the License Agreement would provide that Brooklyn LLC would be (a) entitled to
          acquire, within a period of time following the execution of the License Agreement, additional stem cell lines from the Licensors by making substantial additional payments, (b) obligated to make substantial payments following the achievement of
          enumerated milestones, and (c) obligated to pay a royalty of approximately 10% on net sales of any products developed pursuant to the License Agreement.</div>
        <div><br>
        </div>
        <div>Brooklyn LLC initially was entitled, under the terms of the Agreements, to exercise the Option at any time on or before April 30, 2021 by paying initial license fees totaling $4.0 million,
          which amount includes previously paid, nonrefundable fees totaling $500,000. In order to, among other things, provide Brooklyn LLC with additional time to negotiate the terms of the License Agreement, on April 9, 2021 Brooklyn LLC and the
          Licensors amended the Agreements to:</div>
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                <div>extend the exercise period for the Option from April 30, 2021 to May 21, 2021; and</div>
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              <td style="width: 18pt; vertical-align: top;">&#8226;</td>
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                <div>require that Brooklyn LLC pay a total of $1.0 million of the initial license fees to the Licensors by April 15, 2021, which amount has been paid by Brooklyn LLC and will be refundable
                  by the Licensors if Brooklyn LLC does not exercise the Option by May 21, 2021.</div>
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      <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
      <div>&#160;</div>
      <div style="text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</div>
      <div>&#160;</div>
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              <div>BROOKLYN IMMUNOTHERAPEUTICS, INC.</div>
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            <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
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            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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              <div>By:</div>
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            <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Ronald Guido </div>
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            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div>Ronald Guido</div>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div>Interim Chief Executive Officer and</div>
            </td>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 47%; vertical-align: top;">
              <div>Chief Development Officer</div>
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              <div style="color: rgb(0, 0, 0);">Dated: April 15, 2021</div>
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            <td style="width: 47%; vertical-align: top;">&#160;</td>
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