Oramed Pharmaceuticals Files 8-K

TL;DR

ORMP filed an 8-K on 9/23 for events on 9/20 - details TBD.

AI Summary

Oramed Pharmaceuticals Inc. filed an 8-K on September 23, 2024, reporting other events and financial statements as of September 20, 2024. The filing does not contain specific details about the nature of these events or financial figures within the provided text.

Why It Matters

This 8-K filing indicates that Oramed Pharmaceuticals Inc. has made a regulatory submission, which could contain important updates for investors regarding company events or financial status.

Risk Assessment

Risk Level: low — The filing is a standard 8-K notification and does not contain specific negative or positive news that would immediately alter risk perception.

Key Players & Entities

• ORAMED PHARMACEUTICALS INC. (company) — Registrant
• September 23, 2024 (date) — Filing Date
• September 20, 2024 (date) — Earliest Event Date
• 1185 Avenue of the Americas, Third Floor, New York, New York 10036 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.012 — ch registered Common Stock, par value $0.012 ORMP The Nasdaq Capital Market, Te
• $101,875,000 — omissory Note in an aggregate amount of $101,875,000 (the " Note "), (ii) warrants (the " Or
• $0.0001 — res of Scilex's common stock, par value $0.0001 per share (the " Scilex Common Stock ")
• $0.01 — on Stock ") , with an exercise price of $0.01 per share and restrictions on exercisea
• $11.50 — Common Stock with an exercise price of $11.50 per share. The foregoing descriptions o
• $2,000,000 — ich Scilex agreed to pay to the Company $2,000,000 (the " Specified September Payment ") o
• $1,700,000 — ayment shall be applied as follows: (i) $1,700,000 of such payment shall be applied to the
• $300,000 — 1, 2025 (the " Maturity Date ") and (y) $300,000 of such payment to purchase the Purchas
• $0 — ember 19, 2024 until the Maturity Date, $0, and (ii) to extend the due date of the
• $20,000,000 — and (ii) to extend the due date of the $20,000,000 amortization payment from September 23,

Filing Documents

• ea0215344-8k_oramed.htm (8-K) — 27KB
• ea021534401ex10-1_oramed.htm (EX-10.1) — 26KB
• 0001213900-24-080812.txt ( ) — 230KB
• ormp-20240920.xsd (EX-101.SCH) — 3KB
• ormp-20240920_lab.xml (EX-101.LAB) — 33KB
• ormp-20240920_pre.xml (EX-101.PRE) — 22KB
• ea0215344-8k_oramed_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events As previously disclosed, on September 21, 2023, Oramed Pharmaceuticals Inc. (the " Company ") entered into and consummated the transactions contemplated by a Securities Purchase Agreement (the " Scilex SPA ") with Scilex Holding Company (" Scilex "). Pursuant to the Scilex SPA, among other things, on September 21, 2023, Scilex issued to the Company (i) a Senior Secured Promissory Note in an aggregate amount of $101,875,000 (the " Note "), (ii) warrants (the " Oramed Warrants ") to purchase up to an aggregate of 13,000,000 (subject to adjustment as provided therein) shares of Scilex's common stock, par value $0.0001 per share (the " Scilex Common Stock ") , with an exercise price of $0.01 per share and restrictions on exerciseability, including that certain Warrant to Purchase Common Stock No. ORMP CS-5 (as amended, restated, supplemented and modified from time to time in accordance with its terms, the " CS-5 Warrant ") and (iii) warrants (the " Purchased Warrants ") to purchase an aggregate of 4,000,000 (subject to adjustment as provided therein) shares of Scilex Common Stock with an exercise price of $11.50 per share. The foregoing descriptions of the Scilex SPA and the Note and the transactions contemplated thereby are not complete and are subject to and qualified in their entirety by reference to the copies of the Scilex SPA and the Note attached as Exhibits 10.1 and 10.2 to the Company's Current Report on Form 8-K dated September 21, 2023, and are incorporated herein by reference. On September 20, 2024, the Company and Scilex entered into a Letter Agreement (the " Letter Agreement "), pursuant to which Scilex agreed to pay to the Company $2,000,000 (the " Specified September Payment ") on September 23, 2024, which payment shall be applied as follows: (i) $1,700,000 of such payment shall be applied to the amortization payment due under the Note on the March 21, 2025 (the " Maturity Date ") and (y) $300,000 of such payment to purchase the

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.1 Letter Agreement, dated as of September 20, 2024, by and between Oramed Pharmaceuticals Inc. and Scilex Holding Company. 104 Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ORAMED PHARMACEUTICALS INC. By: /s/ Nadav Kidron Name: Nadav Kidron Title: President and CEO Date: September 23, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR