Date: 2015-06-11
Type of information: Private placement
Company: Oramed Pharmaceuticals (Israel)
Investors:
Amount: $5.36 milion
Funding type: private placement
Planned used:
Others: * On June 11, 2015, Oramed Pharmaceuticals, a developer of oral drug delivery systems, announced the closing of its previously-announced registered direct placement with institutional investors. Oramed has sold $5.36 million of shares of common stock at $7.50 per share. Investors have also received an oversubscription option to purchase up to an additional $7.1 million of common stock at $10.00 per share that becomes exercisable six months from today and is exercisable for twelve months. * On June 5, 2015, Oramed Pharmaceuticals announced that it entered into purchase agreements with several institutional investors for a registered direct placement. The Stock Purchase Agreements provide for the sale of $5.36 million of common stock at $7.50 per share. The Stock Purchase Agreements also provide a non-transferrable oversubscription option for the investors to purchase up to $7.1 million of common stock at $10.00 per share that becomes exercisable six months after the date of the closing of the initial sale and is exercisable for twelve months. The placement is expected to close on or about June 10, 2015, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. acted as the exclusive placement agent for the transaction.
Therapeutic area:
