Deal sells 1,128,849 units of a share and a warrant at $0.52 per unit
By Devika Patel
Knoxville, Tenn., March 4 - Orgenesis Inc. completed a $587,002 private placement of units with 13 investors on March 4, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,128,849 units of one common share and one warrant at $0.52 per unit. Each three-year warrant is exercisable at $0.52, which represents a 1.96% premium to the March 3 closing share price of $0.51.
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: | $587,002
|
| Units: | 1,128,849
|
| Price: | $0.52
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.52
|
| Settlement date: | March 4
|
| Stock symbol: | OTCBB: ORGS
|
| Stock price: | $0.51 at close March 3
|
| Market capitalization: | $26.22 million
|
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