SEC Comment Letter for ReShape Lifesciences Inc. (RSLS) (CIK 0001427570) (HIND) — Jul 16, 2019
ReShape Lifesciences Inc. (RSLS) (CIK 0001427570)
Date: July 16, 2019 · CIK: 0001427570 · Accession: 0000000000-19-011166
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File numbers found in text: 333-232276
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July 16, 2019
William Plovanic
President and Chief Financial Officer
Obalon Therapeutics, Inc.
5421 Avenida Encinas, Suite F
Carlsbad, California 92008
Re:Obalon Therapeutics, Inc.
Registration Statement on Form S-1
Filed June 21, 2019
File No. 333-232276
Dear Mr. Plovanic:
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.
Form S-1 filed June 21, 2019
Our restated certificate of incorporation designates the Court of Chancery of the State of
Delaware, page 70
1.We note that your forum selection provision identifies the Court of Chancery of the State
of Delaware as the exclusive forum for certain litigation, including any "derivative
action." Please disclose whether this provision applies to actions arising under the
Securities Act or Exchange Act. In that regard, we note that Section 27 of the Exchange
Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or
liability created by the Exchange Act or the rules and regulations thereunder, and Section
22 of the Securities Act creates concurrent jurisdiction for federal and state courts over
all suits brought to enforce any duty or liability created by the Securities Act or the rules
and regulations thereunder. If the provision applies to Securities Act claims, please also
FirstName LastNameWilliam Plovanic
Comapany NameObalon Therapeutics, Inc.
July 16, 2019 Page 2
FirstName LastName
William Plovanic
Obalon Therapeutics, Inc.
July 16, 2019
Page 2
revise your prospectus to state that there is uncertainty as to whether a court would
enforce such provision and that investors cannot waive compliance with the federal
securities laws and the rules and regulations thereunder.
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 Thomas Jones at 202-551-3602 or Russell Mancuso, Branch Chief, at 202-
551-3617 with any questions.
Sincerely,
Division of Corporation Finance
Office of Electronics and Machinery
cc: B. Shayne Kennedy