Company offers stock at $10.00 per share through agent Aegis Capital
By Devika Patel
Knoxville, Tenn., Dec. 26 - Oramed Pharmaceuticals, Inc. said it plans a $15.8 million registered direct offering of stock.
The company will sell 1.58 million common shares. The purchase price, $10.00 per share, reflects a 33.33% discount to the $15.00 closing share price on Dec. 24.
Settlement is expected Dec. 31.
Aegis Capital Corp. is the agent.
Proceeds will be used for clinical development, preclinical and clinical studies and general corporate purposes, including general working capital purposes.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
Issuer: | Oramed Pharmaceuticals, Inc.
|
Issue: | Common stock
|
Amount: | $15.8 million
|
Shares: | 1.58 million
|
Price: | $10.00
|
Warrants: | No
|
Agents: | Aegis Capital Corp.
|
Pricing date: | Dec. 26
|
Settlement date: | Dec. 31
|
Stock symbol: | Nasdaq: ORMP
|
Stock price: | $15.00 at close Dec. 24
|
Market capitalization: | $93.85 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.