UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
Processa Pharmaceuticals, Inc.
(Name of Issuer)
Common Stock, $0.0001 par value
(Title of Class of Securities)
74275C106
(CUSIP Number)
October 2, 2020
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 74275C106
| 1 | Name of Reporting Person
Yuhan (USA) Corporation | ||
| 2 | Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) ¨ | ||
| 3 | SEC Use Only | ||
| 4 | Citizenship or Place of Organization Delaware | ||
number
of |
5 | Sole Voting Power 750,000 | |
| 6 | Shared Voting Power 0 | ||
| 7 | Sole Dispositive Power 750,000 | ||
| 8 | Shared Dispositive Power 0 | ||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person 750,000 | ||
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) | ||
| 11 | Percent of Class Represented by Amount in Row (9) 7.3%(1) | ||
| 12 | Type of Reporting Person (See Instructions) CO | ||
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(1) Percentage based on 10,315,447 shares of the Issuer’s common stock (“Common Stock”) outstanding after the Issuer’s underwritten public offering, as disclosed in the Issuer’s final prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on October 5, 2020 (the “Final Prospectus”).
Item 1.
(a) Name of Issuer
Processa Pharmaceuticals, Inc.
(b) Address of Issuer’s Principal Executive Offices
7380 Coca Cola Drive, Suite 106
Hanover, MD 21076
Item 2.
(a) Names of Persons Filing
Yuhan (USA) Corporation
(b) Address of Principal Business office or, if None, Residence
Yuhan (USA) Corporation
9171 Towne Centre Drive, Suite 215
San Diego, CA 92122
(c) Citizenship
Yuhan (USA) Corporation: Delaware
(d) Title of Class of Securities
Common Stock, $0.0001 par value
(e) CUSIP Number
74275C106
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); |
| (b) | ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); |
| (c) | ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); |
| (d) | ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); |
| (e) | ¨ An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
| (f) | ¨ An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); |
| (g) | ¨ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); |
| (h) | ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
| (i) | ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
| (j) | ¨ A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J); |
| (k) | ¨ Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: __________ |
| Item 4. | Ownership. |
(a) Amount beneficially owned: 750,000
(b) Percent of class: 7.3%
Percentage based on 10,315,447 shares of Common Stock outstanding after the Issuer’s underwritten public offering, as disclosed in the Final Prospectus.
(c) Number of shares as to which such person has:
| (i) | Sole power to vote or to direct the vote: 750,000 |
| (ii) | Shared power to vote or to direct the vote: 0 |
| (iii) | Sole power to dispose or to direct the disposition of: 750,000 |
| (iv) | Shared power to dispose or to direct the disposition of: 0 |
| Item 5. | Ownership of Five Percent or Less of a Class. |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ¨
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person. |
N/A.
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. |
N/A
| Item 8. | Identification and Classification of Members of the Group. |
N/A
| Item 9. | Notice of Dissolution of Group. |
N/A
| Item 10. | Certifications. |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: June 10, 2021
Yuhan (USA) Corporation | |||
| By: | /s/ TAEWON YOON | ||
Name: TAEWON YOON Title: President | |||