Company offers stock at $7.00 per share through agent Aegis Capital
By Devika Patel
Knoxville, Tenn., July 11 - Oramed Pharmaceuticals, Inc. said it plans a $4.6 million registered direct offering of stock.
The company will sell 657,144 common shares. The purchase price of $7.00 per share reflects a 5.02% discount to the $7.37 closing share price on July 10.
Settlement is expected July 16.
Aegis Capital Corp. is the lead placement agent, and Maxim Group LLC is a co-placement agent.
Proceeds will be used for clinical trials, research and product development activities 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: | $4.6 million
|
| Shares: | 657,144
|
| Price: | $7.00
|
| Warrants: | No
|
| Agents: | Aegis Capital Corp. (lead) and Maxim Group LLC (co-placement agent)
|
| Pricing date: | July 11
|
| Settlement date: | July 16
|
| Stock symbol: | Nasdaq: ORMP
|
| Stock price: | $7.37 at close July 10
|
| Market capitalization: | $51.85 million
|
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