Company sells common stock at $7.50 per share through H.C. Wainwright
By Devika Patel
Knoxville, Tenn., June 5 – Oramed Pharmaceuticals, Inc. said it plans a $5.36 million registered direct offering of stock. H.C. Wainwright & Co. is the agent.
The company will sell common shares. The purchase price, of $7.50 per share, reflects a 5.02% discount to the $7.37 closing share price on June 4.
Settlement is expected June 10.
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.
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| Issue: | Common stock
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| Amount: | $5.36 million
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| Price: | $7.50
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| Warrants: | No
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| Agent: | H.C. Wainwright & Co.
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Stock symbol: | Nasdaq: ORMP
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| Stock price: | $7.37 at close June 4
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| Market capitalization: | $51.85 million
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