Oramed plans to price $13 million public sale of common shares June 26

Aegis Capital and Maxim Group are joint bookrunners

By Devika Patel and Aleesia Forni

Virginia Beach, Va., June 17 - Oramed Pharmaceuticals Inc. will price a public offering of common stock on June 26 following the session's close, according to a market source and a preliminary prospectus supplement filed Monday with the Securities and Exchange Commission.

Aegis Capital Corp. and Maxim Group LLC are the joint bookrunning managers.

The deal is expected to be $13 million in size and will have a 45-day greenshoe for an additional 15%, according to an FWP filing with the SEC.

Proceeds will be used for clinical trials, for research and product development activities and for general corporate purposes, including general working capital purposes.

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

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