By Susanna Moon
Chicago, June 18 - Oramed Pharmaceuticals Inc. closed a $1.8 million placement of units to seven non-U.S. investors on June 15, according to an 8-K filing, with the Securities and Exchange Commission.
The company sold 3.6 million units for $0.50 each.
Units consist of one share and one warrant. Warrants are exercisable at $0.75 until June 15, 2010.
Oramed is a pharmaceutical company based in Jerusalem, Israel.
Issuer Oramed Pharmaceuticals Inc.
| Issue: | Units of one share and one warrant
|
| Amount: | $1.8 million
|
| Units: | 3.6 million
|
| Price: | $0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | June 15, 2010
|
| Warrant strike price: | $0.75
|
| Announcement date: | June 15
|
| Stock symbol: | OTCBB: ORMP
|
| Stock price: | $0.44 at close June 15
|
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