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BioLineRx closes offering of American depositary shares

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BioLineRx closes offering of American depositary shares

BioLineRx Ltd. closed its underwritten public offering of about 33.8 million American depositary shares, each representing one ordinary share, at 85 cents apiece for gross proceeds of about $28.8 million.

The number of ADSs sold includes approximately 4.4 million additional ADSs purchased by the underwriters under the option granted to them by the company.

BioLineRx plans to use the gross proceeds to fund a number of clinical trials, including for BL-8040 and AGI-134, and for working capital and general corporate purposes.

JMP Securities served as sole book-running manager for the offering, with H.C. Wainwright & Co. LLC as lead manager and Maxim Group as co-manager.