Company sells 696,378 common shares at $7.18 apiece to Guangxi Wuzhou
By Devika Patel
Knoxville, Tenn., Nov. 4 – Oramed Pharmaceuticals, Inc. negotiated a $5 million private placement of stock with Guangxi Wuzhou Pharmaceutical (Group) Co., Ltd. on Nov. 3, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 696,378 common shares at $7.18 apiece. The price per share is identical to the Oct. 31 closing share price.
Settlement is expected on Nov. 28.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals, Inc.
|
| Issue: | Common stock
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| Amount: | $5 million
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| Shares: | 696,378
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| Price: | $7.18
|
| Warrants: | No
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| Investor: | Guangxi Wuzhou Pharmaceutical (Group) Co., Ltd.
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 28
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| Stock symbol: | Nasdaq: ORMP
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| Stock price: | $7.18 at close Oct. 31
|
| Market capitalization: | $72.21 million
|
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