Company sells 1,702,722 units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 4 - Oramed Pharmaceuticals Inc. settled a $630,007 private placement of units from Nov. 9 through Nov. 29, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,702,722 units of one common share and one half-share warrant at $0.37 per unit. Each whole warrant is exercisable at $0.50 for five years. The strike price reflects a 61.29% premium to the Nov. 8 closing share price of $0.31.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $630,007
|
| Units: | 1,702,722
|
| Price: | $0.37
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Nov. 9 through Nov. 29
|
| Stock symbol: | OTCBB: ORMP
|
| Stock price: | $0.31 at close Nov. 8
|
| Market capitalization: | $22.54 million
|
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