Deal sells 384,615 units of a share and a warrant at $0.52 per unit
By Toni Weeks
San Luis Obispo, Calif., April 28 - Orgenesis Inc. completed a $200,000 non-brokered private placement of units with a single investor on April 24, according to an 8-K filed with the Securities and Exchange Commission.
The company sold 384,615 units of one common share and one warrant at $0.52 per unit. Each three-year warrant is exercisable at $0.52, which represents an 8.33% premium to the April 23 closing share price of $0.48.
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: | $200,000
|
| Units: | 384,615
|
| Price: | $0.52
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.52
|
| Agent: | Non-brokered
|
| Settlement date: | April 24
|
| Stock symbol: | OTCBB: ORGS
|
| Stock price: | $0.48 at close April 23
|
| Market capitalization: | $26.39 million
|
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