Establishment Labs Holdings Inc S-3ASR, filed Apr 24, 2023

Establishment Labs Holdings Inc. (ESTA)

S-3ASR 2023-04-24

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	British Virgin Islands			Not applicable
	(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification Number)

	Large accelerated filer ☒
	Accelerated filer ☐									Smaller reporting company ☐
	Non-accelerated filer ☐									Emerging growth company ☐

	PAGE
ABOUT THIS PROSPECTUS		2
THE COMPANY		3
RISK FACTORS		4
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS		5
SELLING SECURITYHOLDERS		6
USE OF PROCEEDS		7
DESCRIPTION OF SHARE CAPITAL		8
DESCRIPTION OF DEBT SECURITIES		15
DESCRIPTION OF WARRANTS		17
DESCRIPTION OF RIGHTS		19
DESCRIPTION OF UNITS		20
PLAN OF DISTRIBUTION		21
LEGAL MATTERS		23
EXPERTS		24
WHERE YOU CAN FIND ADDITIONAL INFORMATION; INCORPORATION BY REFERENCE		25

SEC registration fee	$	(1)
Printing expenses		(2)
Legal fees and expenses (including Blue Sky fees)		(2)
Accounting fees and expenses		(2)
Transfer agent, trustee and warrant agent fees and expenses		(2)
Miscellaneous		(2)
Total	$	(2)

	Exhibit Number			Description
	1.1*			Form of Underwriting Agreement.
	3.1			Amended and Restated Memorandum of Association and Articles of Association (incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1/A filed on July 9, 2018).
	4.1			Form of Indenture for Senior Debt Securities.
	4.2			Form of Indenture for Subordinated Debt Securities.

	Exhibit Number			Description
	4.3*			Form of Global Note for Senior Debt Securities.
	4.4*			Form of Global Note for Subordinated Debt Securities.
	4.5*			Form of Warrant Agreement and Warrant Certificate.
	4.6*			Form of Rights Agreement.
	4.7*			Form of Unit Agreement and Unit Certificate.
	5.1			Opinion of Conyers Dill & Pearman.
	5.2			Opinion of O’Melveny & Myers LLP.
	23.1			Consent of Conyers Dill & Pearman (included in Exhibit 5.1).
	23.2			Consent of O’Melveny & Myers LLP (included in Exhibit 5.2).
	23.3			Consent of Marcum LLP.
	24.1			Powers of Attorney (incorporated by reference to the signature page hereto).
	25.1**			Form T-1 Statement of Eligibility and Qualification of Trustee under the Senior Indenture under the Trust Indenture Act of 1939, as amended.
	25.2**			Form T-1 Statement of Eligibility and Qualification of Trustee under the Subordinated Indenture under the Trust Indenture Act of 1939, as amended.
	107			Calculation of Filing Fees Table

Signature	Title	Date
/s/ Juan José Chacón Quirós Juan José Chacón Quirós	President, Chief Executive Officer and Director (Principal Executive Officer)	April 24, 2023
/s/ Rajbir S. Denhoy Rajbir S. Denhoy	Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)	April 24, 2023
/s/ Nicholas Lewin Nicholas Lewin	Director	April 24, 2023
/s/ Dennis Condon Dennis Condon	Director	April 24, 2023
/s/ Lisa N. Colleran Lisa N. Colleran	Director	April 24, 2023
/s/ Dennis Condon Dennis Condon	Director	April 24, 2023

Section 1.1.	Definitions	1

Section 1.2.	Other Definitions	4

Section 1.3.	Incorporation by Reference of Trust Indenture Act	5

Section 1.4.	Rules of Construction	5

Section 2.1.	Issuable in Series	6

Section 2.2.	Establishment of Terms of Series of Securities	6

Section 2.3.	Denominations; Provision for Payment	8

Section 2.4.	Execution and Authentication	8

Section 2.5.	Registrar and Paying Agent	9

Section 2.6.	Paying Agent to Hold Money in Trust	10

Section 2.7.	Securityholder Lists	10

Section 2.8.	Transfer and Exchange	10

Section 2.9.	Mutilated, Destroyed, Lost and Stolen Securities	11

Section 2.10.	Outstanding Securities	11

Section 2.11.	Treasury Securities	12

Section 2.12.	Temporary Securities	12

Section 2.13.	Cancellation	13

Section 2.14.	Defaulted Interest	13

Section 2.15.	Global Securities	13

Section 2.16.	CUSIP Numbers	14

Section 2.17.	Evidence of Ownership	15

Section 3.1.	Notice to Trustee	15

Section 3.2.	Selection of Securities to be Redeemed	15

Section 3.3.	Notice of Redemption	15

Section 3.4.	Effect of Notice of Redemption	16

Section 3.5.	Deposit of Redemption Price	17

Section 3.6.	Securities Redeemed in Part	17

Section 4.1.	Payment of Principal and Interest	17

Section 4.2.	Reports by Company	18

Section 4.3.	Compliance Certificate	18

Section 4.4.	Stay, Extension and Usury Laws	18

Section 4.5.	Corporate Existence	19

Section 5.1.	Consolidation, Merger and Sale of Assets	19

Section 5.2.	Successor Person Substituted	19

Section 6.1.	Events of Default	20

Section 6.2.	Acceleration of Maturity; Rescission and Annulment	21

Section 6.3.	Collection of Indebtedness and Suits for Enforcement by Trustee	22

Section 6.4.	Trustee May File Proofs of Claim	22

Section 6.5.	Trustee May Enforce Claims Without Possession of Securities	23

Section 6.6.	Application of Money Collected	23

Section 6.7.	Limitation on Suits	24

Section 6.8.	Unconditional Right of Holders to Receive Principal and Interest	24

Section 6.9.	Restoration of Rights and Remedies	24

Section 6.10.	Rights and Remedies Cumulative	25

Section 6.11.	Delay or Omission Not Waiver	25

Section 6.12.	Control by Holders	25

Section 6.13.	Waiver of Past Defaults	26

Section 6.14.	Undertaking for Costs	26

Section 7.1.	Duties of Trustee	26

Section 7.2.	Rights of Trustee	28

Section 7.3.	Individual Rights of Trustee	29

Section 7.4.	Trustee’s Disclaimer	29

Section 7.5.	Notice of Defaults	29

Section 7.6.	Reports by Trustee to Holders	29

Section 7.7.	Compensation and Indemnity	30

Section 7.8.	Replacement of Trustee	31

Section 7.9.	Successor Trustee by Merger, Etc.	32

Section 7.10.	Eligibility; Disqualification	32

Section 7.11.	Preferential Collection of Claims Against Company	32

Section 8.1.	Satisfaction and Discharge of Indenture	32

Section 8.2.	Application of Trust Funds; Indemnification	33

Section 8.3.	Legal Defeasance of Securities of any Series	34

Section 8.4.	Covenant Defeasance	35

Section 8.5.	Repayment to Company	36

Section 8.6.	Reinstatement	36

Section 10.1.	Trust Indenture Act Controls	40

Section 10.2.	Notices	40

Section 10.3.	Communication by Holders with Other Holders	41

Section 10.4.	Certificate and Opinion as to Conditions Precedent	41

Section 10.5.	Statements Required in Certificate or Opinion	41

Section 10.6.	Rules by Trustee and Agents	42

Section 10.7.	Legal Holidays	42

Section 10.8.	No Recourse Against Others	42

Section 10.9.	Counterparts	42

Section 10.10.	Governing Law; Jury Trial Waiver	42

Section 10.11.	No Adverse Interpretation of Other Agreements	43

Section 10.12.	Successors	43

Section 10.13.	Severability	43

Section 10.14.	Table of Contents, Headings, Etc.	43

Section 10.15.	Securities in a Foreign Currency	43

Section 10.16.	Judgment Currency	44

Section 10.17.	Force Majeure	44

Section 10.18.	U.S.A. Patriot Act	44

Section 11.1.	Applicability of Article	45

Section 11.2.	Satisfaction of Sinking Fund Payments with Securities	45

Section 11.3.	Redemption of Securities for Sinking Fund	46

Section 9.1.	Without Consent of Holders	37

Section 9.2.	With Consent of Holders	38

Section 9.3.	Limitations	38

Section 9.4.	Compliance with Trust Indenture Act	39

Section 9.5.	Revocation and Effect of Consents	39

Section 9.6.	Notation on or Exchange of Securities	39

Section 9.7.	Trustee Protected	40

§ 310(a)(1)		7.10
(a)(2)		7.10
(a)(3)		Not Applicable
(a)(4)		Not Applicable
(a)(5)		7.10
(b)		7.10
§ 311(a)		7.11
(b)		7.11
§ 312(a)		2.7
(b)		10.3
(c)		10.3
§ 313(a)		7.6
(b)(1)		7.6
(b)(2)		7.6
(c)(1)		7.6
(d)		7.6
§ 314(a)		4.2, 10.5
(b)		Not Applicable
(c)(1)		10.4
(c)(2)		10.4
(c)(3)		Not Applicable
(d)		Not Applicable
(e)		10.5
(f)		Not Applicable
§ 315(a)		7.1
(b)		7.5
(c)		7.1
(d)		7.1
(e)		6.14
§ 316(a)		2.11
(a)(1)(A)		6.12
(a)(1)(B)		6.13
(b)		6.8
§ 317(a)(1)		6.3
(a)(2)		6.4
(b)		2.6
§ 318(a)		10.1

TERM	DEFINED IN
	SECTION
“Bankruptcy Law”	6.1
“Custodian”	6.1
“Event of Default”	6.1
“Judgment Currency”	10.16
“Legal Holiday”	10.7
“mandatory sinking fund payment”	11.1
“optional sinking fund payment”	11.1
“Paying Agent”	2.5
“Registrar”	2.5
“Required Currency”	10.16
“successor person”	5.1

		Page

ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE		1

Section 1.1.	Definitions	1
Section 1.2.	Other Definitions	4
Section 1.3.	Incorporation by Reference of Trust Indenture Act	5
Section 1.4.	Rules of Construction	5

ARTICLE II. THE SECURITIES		5

Section 2.1.	Issuable in Series	5
Section 2.2.	Establishment of Terms of Series of Securities	6
Section 2.3.	Denominations; Provision for Payment	8
Section 2.4.	Execution and Authentication	8
Section 2.5.	Registrar and Paying Agent	9
Section 2.6.	Paying Agent to Hold Money in Trust	10
Section 2.7.	Securityholder Lists	10
Section 2.8.	Transfer and Exchange	10
Section 2.9.	Mutilated, Destroyed, Lost and Stolen Securities	11
Section 2.10.	Outstanding Securities	12
Section 2.11.	Treasury Securities	12
Section 2.12.	Temporary Securities	12
Section 2.13.	Cancellation	13
Section 2.14.	Defaulted Interest	13
Section 2.15.	Global Securities	13
Section 2.16.	CUSIP Numbers	14
Section 2.17.	Evidence of Ownership	15

ARTICLE III. REDEMPTION		15

Section 3.1.	Notice to Trustee	15
Section 3.2.	Selection of Securities to be Redeemed	15
Section 3.3.	Notice of Redemption	15
Section 3.4.	Effect of Notice of Redemption	17
Section 3.5.	Deposit of Redemption Price	17
Section 3.6.	Securities Redeemed in Part	17

ARTICLE IV. COVENANTS		17

Section 4.1.	Payment of Principal and Interest	17
Section 4.2.	Reports by Company	18
Section 4.3.	Compliance Certificate	18
Section 4.4.	Stay, Extension and Usury Laws	18
Section 4.5.	Corporate Existence	19

ARTICLE V. SUCCESSORS		19

Section 5.1.	Consolidation, Merger and Sale of Assets	19
Section 5.2.	Successor Person Substituted	19

ARTICLE VI. DEFAULTS AND REMEDIES		20

Section 6.1.	Events of Default	20
Section 6.2.	Acceleration of Maturity; Rescission and Annulment	21
Section 6.3.	Collection of Indebtedness and Suits for Enforcement by Trustee	22
Section 6.4.	Trustee May File Proofs of Claim	22
Section 6.5.	Trustee May Enforce Claims Without Possession of Securities	23
Section 6.6.	Application of Money Collected	23
Section 6.7.	Limitation on Suits	24
Section 6.8.	Unconditional Right of Holders to Receive Principal and Interest	24
Section 6.9.	Restoration of Rights and Remedies	25
Section 6.10.	Rights and Remedies Cumulative	25
Section 6.11.	Delay or Omission Not Waiver	25
Section 6.12.	Control by Holders	25
Section 6.13.	Waiver of Past Defaults	26
Section 6.14.	Undertaking for Costs	26

ARTICLE VII. TRUSTEE		26

Section 7.1.	Duties of Trustee	26
Section 7.2.	Rights of Trustee	28
Section 7.3.	Individual Rights of Trustee	29
Section 7.4.	Trustee’s Disclaimer	29
Section 7.5.	Notice of Defaults	29
Section 7.6.	Reports by Trustee to Holders	30
Section 7.7.	Compensation and Indemnity	30
Section 7.8.	Replacement of Trustee	31
Section 7.9.	Successor Trustee by Merger, Etc	32
Section 7.10.	Eligibility; Disqualification	32
Section 7.11.	Preferential Collection of Claims Against Company	32

ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE		32

Section 8.1.	Satisfaction and Discharge of Indenture	32
Section 8.2.	Application of Trust Funds; Indemnification	33
Section 8.3.	Legal Defeasance of Securities of any Series	34
Section 8.4.	Covenant Defeasance	35
Section 8.5.	Repayment to Company	36
Section 8.6.	Reinstatement	36

ARTICLE IX. AMENDMENTS AND WAIVERS		37

Section 9.1.	Without Consent of Holders	37
Section 9.2.	With Consent of Holders	38
Section 9.3.	Limitations	38
Section 9.4.	Compliance with Trust Indenture Act	39
Section 9.5.	Revocation and Effect of Consents	39
Section 9.6.	Notation on or Exchange of Securities	39
Section 9.7.	Trustee Protected	40

ARTICLE X. MISCELLANEOUS		40

Section 10.1.	Trust Indenture Act Controls	40
Section 10.2.	Notices	40
Section 10.3.	Communication by Holders with Other Holders	41
Section 10.4.	Certificate and Opinion as to Conditions Precedent	41
Section 10.5.	Statements Required in Certificate or Opinion	41
Section 10.6.	Rules by Trustee and Agents	42
Section 10.7.	Legal Holidays	42
Section 10.8.	No Recourse Against Others	42
Section 10.9.	Counterparts	42
Section 10.10.	Governing Law; Jury Trial Waiver	42
Section 10.11.	No Adverse Interpretation of Other Agreements	43
Section 10.12.	Successors	43
Section 10.13.	Severability	43
Section 10.14.	Table of Contents, Headings, Etc	43
Section 10.15.	Securities in a Foreign Currency	43
Section 10.16.	Judgment Currency	44
Section 10.17.	Force Majeure	44
Section 10.18.	U.S.A. Patriot Act	44

ARTICLE XI. SINKING FUNDS		45

Section 11.1.	Applicability of Article	45
Section 11.2.	Satisfaction of Sinking Fund Payments with Securities	45
Section 11.3.	Redemption of Securities for Sinking Fund	46

ARTICLE XII. SUBORDINATION OF SECURITIES		46

Section 12.1.	Subordination of Terms	46


	ESTABLISHMENT LABS HOLDINGS INC, as Issuer

	By:
		Name:
		Its:

		, as Trustee

	By:
		Name:
		Its:

	Very truly yours,

	/s/ Conyers Dill & Pearman
	Conyers Dill & Pearman

O’Melveny & Myers LLP	T: +1 949 823 6900	File Number: 0250238-00006
610 Newport Center Drive	F: +1 949 823 6994
17ᵗʰ Floor	omm.com
Newport Beach, CA 92660-6429