Orgenesis secures $5M equity investment from Williamsburg Venture

Orgenesis (ORGS) has concluded an agreement for an equity line of credit of up to $5M from Williamsburg Venture Holdings. Under the terms of the agreement, Orgenesis will receive $750,000 upon the effectiveness of a registration statement to be filed with the U.S. Securities and Exchange Commission. According to the terms of the agreement, the remaining $4.25M will be made available over the next 24 months, providing Orgenesis with the flexibility to draw on funding as needed to advance its initiatives. The per share purchase price for the put shares shall be 90% of the market price defined as the average of the two lowest Volume-Weighted Average Price for the five consecutive trading days immediately preceding the relevant date. At the Company’s option, under an accelerated purchase notice, the Company may deliver a put notice by 11:00 AM on a particular day with a per share purchase price that would be the lowest traded price on that day.