Deal sells 1,526,718 units of a share and one warrant at $0.8515 each
By Devika Patel
Knoxville, Tenn., May 9 - Orgenesis Inc. completed a $1.3 million private placement of units with Advanced Technology Materials, Inc. on May 6, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 1,526,718 units of one common share and one warrant at $0.8515 per unit. Each two-year warrant is exercisable at $1.00, which represents an 11.11% premium to the May 3 closing share price of $0.90.
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: | $1.3 million
|
| Shares: | 1,526,718
|
| Price: | $0.8515
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.00
|
| Investor: | Advanced Technology Materials, Inc.
|
| Settlement date: | May 6
|
| Stock symbol: | OTCBB: ORGS
|
| Stock price: | $0.90 at close May 3
|
| Market capitalization: | $45.15 million
|
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