BioLineRx to sell 7.5M ADSs at 80c in registered direct offering

BioLineRx announced that it has entered into definitive agreements with several institutional investors for the issuance and sale in a registered direct offering of 7.5M of the company’s American Depositary Shares and warrants to purchase up to an aggregate of 7.5M ADSs, at a combined purchase price of 80c per ADS and accompanying warrant. Each ADS represents fifteen ordinary shares, par value NIS 0.10 per share, of BioLineRx. The warrants will have an exercise price of 80c per ADS, will be exercisable at any time upon issuance and will expire five years from the date of issuance. The offering is expected to close on or about April 1, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses payable by the company, are expected to be $6M. BioLineRx intends to use the net proceeds from the offering to support the commercialization of APHEXDA with an indication in the U.S. for stem cell mobilization forautologous transplantation in patients with multiple myeloma, advance its pancreatic cancer clinical development program and other pipeline programs, and for general corporate purposes. JonesTrading Institutional Services is acting as the exclusive placement agent for the offering.