Deal sells 100,000 units of one share and two warrants at $1.00 each
By Devika Patel
Knoxville, Tenn., Dec. 10 - Orgenesis Inc. completed a $500,000 private placement of units on Dec. 3, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 500,000 units of one common share and two warrants at $1.00 per unit. Each two-year warrant is exercisable at $0.50, which represents a 28.57% discount to the Nov. 30 closing share price of $0.70.
The White Plains, N.Y., company focuses on developing a therapeutic technology that converts a patient's own liver cells into functional insulin-producing cells as a treatment for diabetes.
| Issuer: | Orgenesis Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $500,000
|
| Shares: | 500,000
|
| Price: | $1.00
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.50
|
| Settlement date: | Dec. 3
|
| Stock symbol: | OTCBB: ORGS
|
| Stock price: | $0.70 at close Nov. 30
|
| Market capitalization: | $38.31 million
|
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