Oramed in $100M controlled equity offering agreement with Cantor

 On September 1, 2021, Oramed Pharmaceuticals Inc. (the "Company") entered into a controlled equity offering agreement (the "Cantor Equity Distribution Agreement") with Cantor Fitzgerald & Co., as agent ("Cantor Fitzgerald"), pursuant to which the Company may issue and sell shares of its common stock having an aggregate offering price of up to $100,000,000 from time to time through Cantor Fitzgerald.

Any sales of shares of common stock pursuant to the Cantor Equity Distribution Agreement will be made pursuant to an effective shelf registration statement on Form S-3, the prospectus contained therein and a prospectus supplement related thereto filed with the U.S. Securities and Exchange Commission. Cantor Fitzgerald may sell the Company's common stock (A) in privately negotiated transactions with the Company's consent; (B) as block transactions; or (C) by any other method permitted by law deemed to be an "at the market offering" as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, including sales made directly on The Nasdaq Capital Market or sales made into any other existing trading market for the Company's common stock. Subject to the terms and conditions of the Cantor Equity Distribution Agreement, Cantor Fitzgerald will use its commercially reasonable efforts to sell the shares of the Company's common stock from time to time, based upon the Company's instructions (including any price, time or size limits or other parameters or conditions that the Company may impose). The Company will pay to Cantor Fitzgerald a cash commission of 3.0% of the gross proceeds from the sale of any shares of common stock by Cantor Fitzgerald under the Cantor Equity Distribution Agreement. The Company will also reimburse Cantor Fitzgerald for certain specified expenses in connection with entering into the Cantor Equity Distribution Agreement. The Company and Cantor Fitzgerald have also provided each other with customary indemnification rights.

The Company is not obligated to make any sales of common stock under the Cantor Equity Distribution Agreement and no assurance can be given that the Company will sell any shares under the Cantor Equity Distribution Agreement, or, if it does, as to the price or amount of shares that the Company will sell, or the dates on which any such sales will take place. The Cantor Equity Distribution Agreement may be terminated by either party at any time upon five days' notice to the other party, or by Cantor Fitzgerald at any time in certain circumstances.

https://www.marketscreener.com/quote/stock/ORAMED-PHARMACEUTICALS-IN-12562638/news/ORAMED-PHARMACEUTICALS-INC-Entry-into-a-Material-Definitive-Agreement-Termination-of-a-Material-36299765/