Attara Fund buys stock, warrants at premium to closing price in deal
By Devika Patel
Knoxville, Tenn., Dec. 27 - Oramed Pharmaceuticals, Inc. completed a private placement of stock with Attara Fund, Ltd. on Dec. 21, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $2 million.
The company sold 6.25 million common shares at $0.32 per share to the investor. The price per share reflects a 3.23% premium to the Dec. 20 closing share price of $0.31.
Attara Fund also received warrants for 2,187,500 shares, which are each exercisable at $0.50 for five years. The strike price is a 61.29% premium to the Dec. 20 closing share price.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $2 million
|
| Shares: | 6.25 million
|
| Price: | $0.32
|
| Warrants: | For 2,187,500 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Investor: | Attara Fund, Ltd.
|
| Settlement date: | Dec. 21
|
| Stock symbol: | OTCBB: ORMP
|
| Stock price: | $0.34 at close Dec. 21
|
| Market capitalization: | $19.39 million
|
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