Oramed Pharmaceuticals Files 8-K Report

TL;DR

ORMP filed an 8-K on 12/13/24 for 'Other Events' - details TBD.

AI Summary

On December 13, 2024, Oramed Pharmaceuticals Inc. filed an 8-K report. The filing indicates "Other Events" as the primary item of disclosure. No specific details regarding the nature of these events, any associated financial figures, or involved parties were provided in the excerpt.

Why It Matters

This filing signals that Oramed Pharmaceuticals Inc. has reported significant events to the SEC, which could impact investors' understanding of the company's current status and future prospects.

Risk Assessment

Risk Level: medium — The filing is an 8-K for 'Other Events' without specific details, creating uncertainty about the nature and impact of these events.

Key Players & Entities

• ORAMED PHARMACEUTICALS INC. (company) — Registrant
• December 13, 2024 (date) — Date of earliest event reported
• New York (location) — Principal Executive Offices City
• 10036 (location) — Principal Executive Offices Zip Code
• 844-967-2633 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.012 — ch registered Common Stock, par value $0.012 ORMP The Nasdaq Capital Market, Te
• $13,200,000 — an additional payment of approximately $13,200,000 from Scilex Holding Company ("Scilex")
• $15,000,000 — ed the principal payment installment of $15,000,000 due to the Company by Scilex on Decembe
• $94,200,000 — effect to such payment, an aggregate of $94,200,000 of the original principal amount under
• $7,675,000 — ounts owed by Scilex to the Company are $7,675,000 under the Tranche A Note and $25,000,00
• $25,000,000 — $7,675,000 under the Tranche A Note and $25,000,000 under the Tranche B Notes (as defined b
• $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

Filing Documents

• ea0225149-8k_oramed.htm (8-K) — 26KB
• 0001213900-24-109825.txt ( ) — 196KB
• ormp-20241213.xsd (EX-101.SCH) — 3KB
• ormp-20241213_lab.xml (EX-101.LAB) — 33KB
• ormp-20241213_pre.xml (EX-101.PRE) — 22KB
• ea0225149-8k_oramed_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events On December 13, 2024, Oramed Pharmaceuticals Inc. (the "Company") received an additional payment of approximately $13,200,000 from Scilex Holding Company ("Scilex") pursuant to the terms of the Tranche A Note (as defined below), which was applied toward and, together with previous payments, satisfied the principal payment installment of $15,000,000 due to the Company by Scilex on December 21, 2024. After giving effect to such payment, an aggregate of $94,200,000 of the original principal amount under Tranche A Note has been repaid or refinanced and the remaining principal amounts owed by Scilex to the Company are $7,675,000 under the Tranche A Note and $25,000,000 under the Tranche B Notes (as defined below). As previously disclosed, on September 21, 2023, the Company entered into and consummated the transactions contemplated by a Securities Purchase Agreement (the "Scilex SPA") with Scilex and Acquiom Agency Services LLC (the "Agent"). Pursuant to the Scilex SPA, in exchange for Scilex assuming certain outstanding obligations of Sorrento Therapeutics, Inc., Scilex issued to the Company a Senior Secured Promissory Note due 18 months from the date of issuance in the principal amount of $101,875,000 (the "Tranche A Note"), as well as certain warrants to purchase shares of common stock of Scilex. The foregoing descriptions of the Scilex SPA and the Tranche A 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 Tranche A Note attached as Exhibits 10.1 and 10.2 to the Company's Current Report on Form 8-K filed on September 26, 2023, and are incorporated herein by reference. Also as previously disclosed, on October 7, 2024, the Company entered into and consummated the transactions contemplated by a Securities Purchase Agreement (the "2024 SPA") with certain institutional investors ("Investors") and Scilex to refinance a portion of t

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 December 17, 2024 2

View Full Filing

View this 8-K filing on SEC EDGAR