Oramed Pharmaceuticals Inc. received an $18 million payment from Scilex Holdings Inc., closing out obligations under the Option Agreement.
The payment brings Oramed's current returns to $118 million on its original $99.5 million Scilex investment.
Oramed retains outstanding debt, convertible debt, warrants, and a royalty interest with Scilex.
$18 Million Payment Received
Represents full satisfaction of obligations under the Option Agreement.
Board Approves Dividend
Approved a cash dividend payment of $0.25 per share to reward shareholders.
Retained Debt and Equity
Retains a $27 million note, a $12 million convertible note, warrants, and a royalty interest with Scilex.
- Oramed's investment portfolio success led to the dividend approval to reward shareholders.
- The dividend payment is expected to result in an aggregate distribution of approximately $10.5 million based on the current shares outstanding.
Oramed Pharmaceuticals continues its strategic investment approach while advancing its oral insulin program and maintaining a diversified portfolio.