Press release
Oramed Announces $50 Million Registered Direct Offering of Common Stock Priced At-the-Market Under Nasdaq Rules
NEW YORK, Nov. 3, 2021 /PRNewswire/ -- Oramed Pharmaceuticals Inc. ("Oramed" or the "Company") (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com), a clinical-stage
About this update from Oramed Pharmaceuticals Inc.
[{"type":"text","content":"NEW YORK, Nov. 3, 2021 /PRNewswire/ -- Oramed Pharmaceuticals Inc. (\"Oramed\" or the \"Company\") (Nasdaq: ORMP) (TASE: ORMP) (www.oramed.com), a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, today announced that it has entered into definitive agreements with several institutional and accredited investors for the sale and issuance, in a registered direct offering priced at-the-market under Nasdaq Rules, of 2,000,000 shares of the Company's common stock, at a purchase price of $25 per share. The closing of the offering is expected to occur on or about November 5, 2021, subject to the satisfaction of customary closing conditions.\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe gross proceeds to Oramed from this offering are expected to be $50 million, before deducting the placement agent's fees and other offering expenses. Oramed intends to use the net proceeds from this offering for working capital and general corporate purposes.\nA shelf registration statement (Registration No. 333-257926) relating to the offered shares of common stock was filed with the Securities and Exchange Commission (\"SEC\") on July 15, 2021 and was declared effective on July 26, 2021. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of an effective registration statement. A final prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at: (212) 856-5711 or e-mail at: [email protected].\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Oramed Pharmaceuticals\nOramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP) is a platform technology pioneer in...