Deal sells 100,000 units of one share and a warrant at $1.00 per unit
By Devika Patel
Knoxville, Tenn., Aug. 3 - Orgenesis Inc. completed a $500,000 private placement of units on July 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 500,000 units of one common share and a warrant at $1.00 per unit. Each one-year warrant is exercisable at $1.00, which represents a 4.76% discount to the July 30 closing share price of $1.05.
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 one warrant
|
| Amount: | $500,000
|
| Shares: | 500,000
|
| Price: | $1.00
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.00
|
| Settlement date: | July 31
|
| Stock symbol: | OTCBB: ORGS
|
| Stock price: | $1.05 at close July 30
|
| Market capitalization: | $36.39 million
|
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