---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-076238"
form_type: "8-K"
ticker: "ORMP"
cik: "0001176309"
company_name: "ORAMED PHARMACEUTICALS INC."
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T18:52:58.783557+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Oramed restructures Scilex acquisition; enters non-binding term sheets for Securities Transfer by Sept 19

## Summary
- Scilex declared winning bidder for its own securities from Sorrento; aggregate consideration ~$110M plus ~$12.25M legal fee assumption.
- Two paths: Hudson Bay funds $115M (Option 1) or Scilex assumes Oramed's Senior DIP Loan and Oramed gets secured Note (Option 2).
- If Option 2, Oramed receives 13M warrants at $0.01/sh and 4M warrants at $11.50/sh in Scilex stock; board observer right.
- Closing expected Sept 19, 2023; Bankruptcy Court approved term sheets on Sept 12.
- Upon closing, Oramed and Sorrento terminate Stock Purchase Agreement and release all claims.

## SEC filing metadata
- accession: 0001213900-23-076238
- form_type: 8-K
- ticker: ORMP
- cik: 0001176309
- company_name: ORAMED PHARMACEUTICALS INC.
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176309/000121390023076238/0001213900-23-076238-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176309/000121390023076238/ea185123-8k_oramed.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-076238
- JSON: https://secwatch.observer/filing/0001213900-23-076238.json
- Plain text: https://secwatch.observer/filing/0001213900-23-076238.txt

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