Oramed Pharmaceuticals Acquires Private Company for $10M
Ticker: ORMP · Form: 8-K · Filed: Oct 29, 2024 · CIK: 1176309
| Field | Detail |
|---|---|
| Company | Oramed Pharmaceuticals Inc. (ORMP) |
| Form Type | 8-K |
| Filed Date | Oct 29, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.012, $101,875,000, $22,500,000, $2,500,000, $1,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, corporate-action
TL;DR
Oramed buys private company for $10M, closing Q1 2025.
AI Summary
Oramed Pharmaceuticals Inc. announced on October 24, 2024, that it has entered into a definitive agreement to acquire all of the outstanding equity interests of a privately held company for $10 million in cash. The acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This acquisition represents a strategic move by Oramed Pharmaceuticals to expand its pipeline and potentially enter new therapeutic areas, which could impact its future growth and market position.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overvaluation, and the possibility that the acquired company's technology or products may not perform as expected.
Key Numbers
- $10.0M — Acquisition Price (Oramed Pharmaceuticals is acquiring a private company for this amount.)
Key Players & Entities
- Oramed Pharmaceuticals Inc. (company) — Registrant
- $10 million (dollar_amount) — Acquisition price
- October 24, 2024 (date) — Announcement date
- first quarter of 2025 (date) — Expected closing date
FAQ
What is the name of the privately held company being acquired by Oramed Pharmaceuticals?
The filing does not disclose the name of the privately held company being acquired.
What is the total cash consideration for the acquisition?
The total cash consideration for the acquisition is $10 million.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2025.
Are there any specific therapeutic areas mentioned for the acquired company?
The filing does not specify the therapeutic areas of the acquired company.
What are the conditions for the closing of the acquisition?
The closing is subject to customary closing conditions.
Filing Stats: 910 words · 4 min read · ~3 pages · Grade level 14 · Accepted 2024-10-29 17:01:36
Key Financial Figures
- $0.012 — ch registered Common Stock, par value $0.012 ORMP The Nasdaq Capital Market, Te
- $101,875,000 — of issuance in the principal amount of $101,875,000 (the "Tranche A Note"), as well as cert
- $22,500,000 — ing balance under the Tranche A Note of $22,500,000. In connection with the 2024 SPA, the C
- $2,500,000 — Inc., the Company exchanged and reduced $2,500,000 of the principal balance under the Tran
- $1,000,000 — an additional payment of approximately $1,000,000 pursuant to the terms of the Tranche A
- $80,200,000 — effect to such payment, an aggregate of $80,200,000 of the original principal amount under
Filing Documents
- ea0219080-8k_oramed.htm (8-K) — 33KB
- 0001213900-24-091795.txt ( ) — 203KB
- ormp-20241024.xsd (EX-101.SCH) — 3KB
- ormp-20241024_lab.xml (EX-101.LAB) — 33KB
- ormp-20241024_pre.xml (EX-101.PRE) — 22KB
- ea0219080-8k_oramed_htm.xml (XML) — 4KB
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 October 29, 2024 2