recently stated that they own a 8.9% stake in Orgenesis Inc (NASDAQ:ORGS) in a Form 13D disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, October 12th. The investor owns 10,810,228 shares of the stock valued at approximately $0. The reporting parties listed on the disclosure included Theodorus SCA, Theodorus II SA and Olivier Belenge. The disclosure is available through EDGAR at this hyperlink.
provided the following explanation of their ownership:
In order to facilitate the orderly disposition of the Reporting Persons beneficial ownership in the Common Stock, the Reporting Persons have decided to act in concert and in cooperation with each other in identifying potential purchasers and in negotiating terms and conditions, including price, for the disposition of all of the Common Stock if the Issuer that the Reporting Persons beneficially own.
On September 20,2017, Theodorus II SA and Theodorus SCA entered into the Purchase Agreements with the Purchasers pursuant to which they agreed to sell an aggregate of 1,000,000 shares of Common Stock to each Purchaser for a purchase price of $250,000 ($0.25 per share). Pursuant to the Purchase Agreements, on October 11,2017, Theodorus II SA sold an aggregate of 2,500,000 shares (at an aggregate purchase price of $625,000) to the Purchasers, and Theodorus SCA sold an aggregate of 2,500,000 shares (for an aggregate purchase price of $625,000) to the Purchasers. In connection with the Purchase Agreements, Theodorus II SA and Theodorus SCA entered into a Stock Option Agreement with each Purchaser pursuant to which they collectively granted each Purchaser a right to purchase 1,180,943 shares of common stock for a period of 120 days following the date of the respective Purchase Agreement.
Other than as described above, none of the Reporting Persons currently has any plans or proposals that relate to, or would result in, any of the matters listed below, although the Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto:
(a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer;
(b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries;
(d) Any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board;
(e) Any material change in the present capitalization or dividend policy of the Issuer;
(f) Any other material change in the Issuer’s business or corporate structure including, but not limited to, if the Issuer is a registered closedend investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940;
(g) Changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person;
(h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an interdealer quotation system of a registered national securities association;
(i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended, or
(j) Any action similar to any of those enumerated above.
In related news, insider Sca Theodorus sold 5,000,000 shares of Orgenesis stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $0.25, for a total value of $1,250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
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Shares of Orgenesis Inc (NASDAQ ORGS) traded down 3.70% on Thursday, reaching $0.39. The company’s stock had a trading volume of 35,980 shares. Orgenesis Inc has a 52-week low of $0.28 and a 52-week high of $0.98. The stock has a 50-day moving average of $0.40 and a 200 day moving average of $0.56. The company’s market cap is $47.24 million.
Orgenesis Inc is a regenerative therapy company. The Company operates through two segments: Contract Development and Manufacturing Organization (CDMO) and Cellular Therapy Business (CTB). The CDMO activity is operated by the Company’s subsidiary, MaSTherCell SA, which specializes in cell therapy development for advanced medicinal products.
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