---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-069538"
form_type: "8-K"
ticker: "ORMP"
cik: "0001176309"
company_name: "ORAMED PHARMACEUTICALS INC."
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:21:17.490147+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Oramed amends Scilex stock purchase deal; extends deadline, reduces warrants, adds Junior DIP Compromise

## Summary
- Second Amendment extends Sale Order deadline to Aug 25, 2023; reduces Scilex warrants from ~1.39M to 693K public and from ~3.1M to 1.55M private.
- Adds condition that Sale Order must include Junior DIP Compromise, treating Sorrento's recovery identical to general unsecured creditors.
- Purchase price remains $105M (credit bid under Replacement DIP Facility and cash). Oramed named successful bidder in auction on Aug 17.
- Transaction subject to Bankruptcy Court approval; hearing scheduled Aug 25, 2023.

## SEC filing metadata
- accession: 0001213900-23-069538
- form_type: 8-K
- ticker: ORMP
- cik: 0001176309
- company_name: ORAMED PHARMACEUTICALS INC.
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176309/000121390023069538/0001213900-23-069538-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176309/000121390023069538/ea183972-8k_oramedpharm.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-069538
- JSON: https://secwatch.observer/filing/0001213900-23-069538.json
- Plain text: https://secwatch.observer/filing/0001213900-23-069538.txt

## Key facts
- Material Agreements
  ORAMED PHARMACEUTICALS INC. amended Second Amendment to Stock Purchase Agreement with Sorrento Therapeutics, Inc. valued at Extended deadline for Sale Order; reduced number of Scilex warrants from 1,386,617 to 693,309 (publi (effective 2023-08-21).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Sorrento Therapeutics, Inc.
  - Value: Extended deadline for Sale Order; reduced number of Scilex warrants from 1,386,617 to 693,309 (publi
  - Effective: 2023-08-21
  source text: On August 21, 2023, the Company and Seller entered into a Second Amendment to Stock Purchase Agreement, pursuant to which the parties agreed: (i) to further extend the deadline for entry of the Sale Order from August 21, 2023 to August 25, 2023, (ii) to reduce the number of Scilex warrants included in the equity securities to be purchased and acquired by the Company as follows: (a) reducing the number of public warrants exercisable for shares of common stock of Scilex from warrants in respect of 1,386,617 shares of common stock to warrants in respect of 693,309 shares of common stock, and (b) reducing the number of private warrants exercisable for shares of common stock of Scilex from warrants in respect of 3,104,000 shares of common stock to warrants in respect of 1,552,000 shares of common stock; (iii) including an obligation on the part of Seller to serve notice of the proposed Sale Order containing the terms of the Junior DIP Compromise (as defined below) on the shareholders of Sci
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176309/000121390023069538/0001213900-23-069538-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.