Hefei Tianhui Incubator buys 1,155,367 shares at about $10.39 apiece
By Devika Patel
Knoxville, Tenn., Nov. 30 – Oramed Pharmaceuticals, Inc. arranged a $12 million private placement of stock with Hefei Tianhui Incubator of Technologies Co., Ltd. on Nov. 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 1,155,367 restricted common shares at $10.38631 per share, a 34.02% premium to the Nov. 27 closing share price of $7.75.
Settlement is expected Dec. 21.
Based in Jerusalem, Oramed develops oral-delivered treatments for diabetes.
| Issuer: | Oramed Pharmaceuticals, Inc.
|
| Issue: | Restricted common shares
|
| Amount: | $12 million
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| Shares: | 1,155,367
|
| Price: | $10.38631
|
| Warrants: | No
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| Investors: | Hefei Tianhui Incubator of Technologies Co., Ltd.
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Nasdaq: ORMP
|
| Stock price: | $7.75 at close Nov. 27
|
| Market capitalization: | $105.56 million
|
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