BioLineRx Ltd. (BLRX) Announces $30 million public offering

BioLineRx Ltd. (NASDAQ: BLRX), a biotech firm focusing on oncology recently announced that because of high demand, the offeree has agreed to enhance the size of the previously announced offering of $10 million and purchase on a firm commitment basis over 12.5 million of its American Depository Shares (ADSs) of the Company. The price of the shares to the public will be $2.40 per ADSs, minus any discounts or commission offered. Each ADSs represents 15 ordinary shares and each ordinary share will carry a value of 0.15 of the Company. January 22, 2021, is the last date for this offering and subject to customary closing conditions.

BiolineRx business model involves licensing novel compounds, develop them through their various stages, and then partner with pharmaceutical firms for development and sales.

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Its cancer therapy platform was successfully tested as a Phase 3 study in stem cell mobilization.

H.C Wainwright & Co will be the sole administrator for this offering. One of the oldest investment bank services that provide various investment opportunities and banking solutions since 1998. The company itself was founded in 1868.

BiolineRx will grant the offeree a 30-day exclusive option to purchase up to an additional 1.8million ADSs at the public offered price minus any discounts or commissions. The total value of these offers is tested at $30 million. BiolineRx intends to use these proceeds to further enhance its working capital and funded various clinical trials. Currently, in developing a second oncology program, AGI-134, which will provide immunotherapy for patients having multiple solid tumors.

This information does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of the securities in any state or any other jurisdiction.


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