Investors Sinopharm, Hefei buy 1,155,367 shares at about $10.39 apiece
By Devika Patel
Knoxville, Tenn., July 7 – Oramed Pharmaceuticals, Inc. arranged a private placement of stock with Sinopharm Capital Management Co. Ltd. and Hefei Life Science & Technology Park Investments and Development Co., Ltd. on July 3, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal will raise about $12 million.
The company will sell 1,155,367 common shares at about $10.39 per share, a 49.5% premium to the July 2 closing share price of $6.95.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $12 million (approximate)
|
| Shares: | 1,155,367
|
| Price: | $10.39 (approximate)
|
| Warrants: | No
|
| Investors: | Sinopharm Capital Management Co. Ltd. and Hefei Life Science & Technology Park Investments and Development Co., Ltd.
|
| Pricing date: | July 3
|
| Stock symbol: | Nasdaq: INFI
|
| Stock price: | $6.95 at close July 2
|
| Market capitalization: | $82.59 million
|
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