Financing ·
Oramed Pharmaceuticals Inc. entered into an extension agreement with Scilex Holding Company to extend the payment…
ORMPOramed Pharmaceuticals Inc.
Oramed Pharmaceuticals Inc. entered into an extension agreement with Scilex Holding Company to extend the payment obligations of approximately $36.2 million in principal and interest across two senior secured promissory and convertible notes. Scilex will make cash payments of $0.5 million received on June 25, 2026, $5 million by July 31, 2026, and the remaining balance by September 30, 2026. If Scilex fails to pay by the due date, the first $1.5 million received will be treated as an extension fee and the remaining obligations will be settled via Scilex common stock. Oramed Pharmaceuticals Inc. is a pharmaceutical company that develops and commercializes specialty pharmaceutical products.