Introductory Note
This Amendment No. 11 to Schedule 13D (this “Amendment No. 11”) relates to the Common Shares, par value $0.000017727 per share
(“Common Shares”), issued by Myovant Sciences Ltd. (the “Issuer”), and amends the Schedule 13D filed on January 3, 2020 (the “Initial Filing”) as amended by Amendment No. 1 filed on March 18, 2020,
Amendment No. 2 filed on March 26, 2020, Amendment No. 3 filed on April 16, 2020, Amendment No. 4 filed on May 15, 2020, Amendment No. 5 filed on May 14, 2021, Amendment No. 6 filed on September 17,
2021, Amendment No. 7 filed on October 27, 2021, Amendment No. 8 filed on October 3, 2022, Amendment No. 9 filed October 24, 2022 and Amendment No. 10 filed on March 6, 2023 (together with the Initial Filing,
the “Original Schedule 13D”). Capitalized terms used and not defined in this Amendment No. 10 have the meanings set forth in the Original Schedule 13D.
This Amendment No. 11 is being filed to amend the Original Schedule 13D as follows:
Item 4. Purpose of Transaction
Item 4 of the
Original Schedule 13D is amended and supplemented by adding the following information:
On March 1, 2023, the Issuer held a special general meeting
of its shareholders (the “Special General Meeting”) to consider and vote upon a proposal to adopt and approve an Agreement and Plan of Merger, dated as of October 23, 2022 (as it may be amended from time to time in accordance with its
terms, the “Merger Agreement”), and a related Statutory Merger Agreement (the “Statutory Merger Agreement”), by and among the Issuer, Sumitovant Biopharma Ltd., a Bermuda exempted company limited by shares
(“Sumitovant”), Zeus Sciences Ltd., a Bermuda exempted company limited by shares and a wholly owned subsidiary of Sumitovant (“Merger Sub”), and, solely with respect to Article IX and Annex A of the Merger Agreement, Sumitomo
Pharma Co., Ltd., a company organized under the laws of Japan, and the transactions contemplated by the Merger Agreement and the Statutory Merger Agreement, including a merger, pursuant to which Merger Sub would merge with and into the Issuer (the
“Merger”), with the Issuer continuing as the surviving company (the “Surviving Company”) following the Merger as a wholly owned subsidiary of Sumitovant (the “Merger Proposal”). At the Special General Meeting, the
Merger Proposal was approved, receiving the affirmative vote of (i) approximately 97.32% of the Common Shares issued and outstanding and entitled to vote on the Merger Proposal and voting at the Special General Meeting and
(ii) approximately 68.45% of Common Shares issued and outstanding held by the Issuer’s shareholders other than Sumitovant or its affiliates.
On
March 10, 2023, the Issuer, Sumitovant and Merger Sub consummated the Merger, pursuant to which Merger Sub was merged with and into the Issuer, with the Issuer continuing as the surviving entity. At the effective time of the Merger (the
“Effective Time”), (i) each Common Share issued and outstanding immediately prior to the Effective Time (other than Excluded Shares, Sumitovant Owned Shares and Dissenting Shares) was cancelled and converted into the right to receive the
Per Share Merger Consideration; (ii) any Common Share owned by the Issuer or any direct or indirect wholly owned subsidiary of the Issuer (each, an “Excluded Share”) as of immediately prior to the Effective Time was cancelled, was no
longer outstanding and automatically ceased to exist and no consideration was delivered in exchange therefor; (iii) each Common Share that was beneficially owned by Sumitovant as of immediately prior to the Effective Time (each, a
“Sumitovant Owned Share”) remained outstanding and constituted a fully paid and nonassessable common share of the Surviving Company; (iv) each Common Share held by a holder who, as of the Effective Time, did not vote in favor of the
Merger and complied with certain procedures specified in the Merger Agreement (each, a “Dissenting Share”), was automatically cancelled and the holder thereof will have the right to receive the Per Share Merger Consideration and, in the
event that the fair value of a Dissenting Share as appraised by the Supreme Court of Bermuda is greater than the Per Share Merger Consideration, the difference between such appraised fair value and the Per Share Merger Consideration; and
(v) each common share, par value $0.000017727 per share, of Merger Sub issued and outstanding immediately prior to the Effective Time remained outstanding and constituted a fully paid and nonassessable common share of the Surviving Company.
Immediately following the Effective Time, Sumitovant beneficially owned 100% of the outstanding common shares of the Surviving Company in the Merger.
As
a result of the Merger, the Common Shares have ceased to trade on the New York Stock Exchange (the “NYSE”) prior to market open on March 10, 2023 and became eligible for delisting from the NYSE and termination of registration under
the Act. The Issuer has requested that the NYSE file a Notification of Removal from Listing and/or Registration under Section 12(b) of the Act on Form 25 with the SEC to delist the Common Shares from the NYSE. After the Form 25 becomes
effective, the Issuer plans to file a Form 15 with the SEC to terminate the registration of the Common Shares under the Exchange Act and suspend its reporting obligations with the SEC.
