M&A
confidence high
sentiment positive
materiality 0.85
Oramed to transfer POD platform to Lifeward for 49.9% beneficial ownership; invests $18M in convertible notes
ORAMED PHARMACEUTICALS INC.
- Oramed to receive up to 49.9% beneficial ownership in Lifeward via shares, pre-funded warrants, plus 4% revenue sharing on ReWalk net sales (max 10 years).
- Oramed to invest $9M initial plus $9M milestone-based in 8% senior secured convertible notes convertible at $0.45/sh with 100% warrant coverage.
- Lifeward's ReWalk and AlterG products generated $26M revenue in trailing four quarters; CEO Mark Grant has 25+ yrs diabetes experience (Medtronic, BMS).
- Transaction requires Lifeward shareholder approval for >19.99% issuance; Oramed to manage clinical trial of oral insulin capsule.
- Combines Oramed's oral drug delivery platform with Lifeward's medical robotics; Oramed retains exposure to both platforms.