SEC Comment Letter 0000000000-23-006883 to ENZO BIOCHEM INC (ENZ) (CIK 0000316253)
ENZO BIOCHEM INC (ENZ) (CIK 0000316253)
Date: June 28, 2023 · CIK: 0000316253 · Accession: 0000000000-23-006883
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File numbers found in text: 333-272727
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United States securities and exchange commission logo
June 28, 2023
Hamid Erfanian
Chief Executive Officer
ENZO BIOCHEM INC
81 Executive Blvd., Suite 3
Farmingdale, New York 11735
Re:ENZO BIOCHEM INC
Registration Statement on Form S-3
Filed June 16, 2023
File No. 333-272727
Dear Hamid Erfanian:
We have limited our review of your registration statement to those issues we have
addressed in our comments. In some of our comments, we may ask you to provide us with
information so we may better understand your disclosure.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe our comments apply to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your registration statement and the information you
provide in response to these comments, we may have additional comments.
Registration Statement on Form S-3 filed June 16, 2023
Risk Factors
There can be no guarantee that the asset sale will be completed and, if not completed, we may
have to file for bankruptcy and liquidation, page 6
1.We note your disclosure here that if the Asset Sale is not completed, then the Company
may need to consider strategic alternatives that may not be as favorable to its stockholders
as the Asset Sale "and may include a bankruptcy and liquidation of the Company." Please
revise your Cover Page and Summary section to explain that if the Asset Sale is not
completed, the Company may consider less favorable strategic alternatives, including
bankruptcy and liquidation.
FirstName LastNameHamid Erfanian
Comapany NameENZO BIOCHEM INC
June 28, 2023 Page 2
FirstName LastName
Hamid Erfanian
ENZO BIOCHEM INC
June 28, 2023
Page 2
Private Placement of Securities
Debentures, page 14
2.We note your disclosure in a risk factor on page 6 that “the 10% convertible debenture
securities are dependent on [y]our closing the asset sale with Labcorp within a given time
frame.” We also note that in the Form of Debenture, filed as Exhibit 4.2, it states on page
16 that an Event of Default will occur if the Asset Sale is not consummated on or prior to
October 15, 2023 such that the outstanding principal amount of the Debentures, plus
accrued unpaid interest and other amounts, would become immediately due and payable.
Please expand your disclosure here to explain how the debentures depend on the closing
of the asset sale with Labcorp within a given time frame, including that failure to
consummate the Asset sale prior to October 15, 2023 would be an Event of Default under
the Debentures. Include disclosure describing the liquidity risks related to the acceleration
of the Debentures if the Asset Sale is not consummated.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Refer to Rules 460 and 461 regarding requests for acceleration. Please allow adequate
time for us to review any amendment prior to the requested effective date of the registration
statement.
Please contact Jessica Ansart at 202-551-4511 or Katherine Bagley at 202-551-2545 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Industrial Applications and
Services
cc: Dan Woodard