New Issue: Oramed wraps $5.2 million private placement of shares

By Devika Patel

Knoxville, Tenn., July 15 - Oramed Pharmaceuticals, Inc. settled a private placement of stock for $5.2 million on July 14, according to an 8-K filed Tuesday with the Securities and Exchange Commission and a company press release.

The company sold 8,668,002 common shares at $0.60 per share to a group of investors led by Montaur Capital Partners. The investors also received three-year warrants for 4,262,337 shares, exercisable at $0.90.

Proceeds will be used for research and development, as well as for the next phase of the company's clinical trials on its lead product, an oral insulin capsule.

Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.

Issuer:	Oramed Pharmaceuticals, Inc.
Issue:	Common stock
Amount:	$5,200,801.20
Shares:	8,668,002
Price:	$0.60
Warrants:	For 4,262,337 shares
Warrant expiration:	Three years
Warrant strike price:	$0.90
Investor:	Montaur Capital Partners (lead)
Settlement date:	July 14
Stock symbol:	OTCBB: ORMP
Stock price:	$0.60 at close July 14

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