Oramed Pharmaceuticals Secures $101.9M Senior Secured Note Deal With Scilex
Portfolio Pulse from Benzinga Newsdesk
Oramed Pharmaceuticals has secured a $101.9M senior secured note deal with Scilex. The deal includes an 18-month maturity, an interest rate equal to the SOFR plus 8.5%, and a repayment commencement date of December 21, 2023. If the note is not fully repaid by March 21, 2024, an exit fee of $3,056,250 becomes payable. Oramed also has the right to designate an observer to Scilex's Board of Directors.
September 22, 2023 | 5:35 am
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NEUTRAL IMPACT
Scilex has entered into a significant financial deal with Oramed Pharmaceuticals. The deal's terms, including the interest rate and repayment schedule, could have implications for Scilex's financial health and stock price.
The terms of the deal, including the interest rate and repayment schedule, could have implications for Scilex's cash flow and financial health. However, the impact on the stock price is uncertain and could depend on how the funds are used and the company's overall financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Oramed Pharmaceuticals has secured a significant financial deal with Scilex, which could strengthen its financial position and potentially influence its stock price positively in the short term.
The secured note deal provides Oramed with a significant amount of capital, which could be used to fund operations or growth initiatives. This could potentially lead to positive investor sentiment and a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100