Company sells 9,689,709 units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., Aug. 28 - Oramed Pharmaceuticals Inc. settled a $3.59 million private placement of units from Aug. 8 through Aug. 28, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 9,689,709 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 47.06% premium to the Aug. 7 closing share price of $0.34.
Based in Jerusalem, Oramed develops oral treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3,585,192
|
| Units: | 9,689,709
|
| Price: | $0.37
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Aug. 8 through Aug. 28
|
| Stock symbol: | OTCBB: ORMP
|
| Stock price: | $0.34 at close Aug. 7
|
| Market capitalization: | $20.43 million
|
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