BioLineRx raises $50M in registered direct offering

TL;DR

BioLineRx just raised $50M from investors via a direct offering, closing Jan 10th.

AI Summary

On January 6, 2025, BioLineRx Ltd. entered into a securities purchase agreement with certain institutional investors for a registered direct offering. The company will issue and sell 50,000,000 American Depositary Shares (ADSs) at a price of $1.00 per ADS, resulting in gross proceeds of approximately $50 million before deducting offering expenses. This offering is expected to close on or about January 10, 2025.

Why It Matters

This capital infusion provides BioLineRx with significant funding, likely to advance its pipeline and operations, potentially impacting its future growth and shareholder value.

Risk Assessment

Risk Level: medium — While the capital raise is positive, the success of the company depends on the effective use of these funds and continued pipeline development.

Key Numbers

• $50 million — Gross Proceeds (Funds raised from the registered direct offering.)
• 50,000,000 — ADSs Sold (Number of American Depositary Shares issued in the offering.)
• $1.00 — Price Per ADS (The price at which each ADS was sold.)

Key Players & Entities

• BioLineRx Ltd. (company) — The company conducting the offering.
• January 6, 2025 (date) — Date the securities purchase agreement was entered into.
• 50,000,000 (dollar_amount) — Number of American Depositary Shares to be sold.
• $1.00 (dollar_amount) — Price per American Depositary Share.
• $50 million (dollar_amount) — Approximate gross proceeds from the offering.
• January 10, 2025 (date) — Expected closing date of the offering.

FAQ

Key Financial Figures

• $0.20 — ants"), at a combined purchase price of $0.20 per ADS and accompanying Ordinary Warra
• $0.1999 — S and accompanying Ordinary Warrant and $0.1999 per Pre-Funded Warrant and accompanying
• $10 million — rants) are expected to be approximately $10 million. The Offering is expected to close on o
• $0.0001 — ely exercisable at an exercise price of $0.0001 per ADS, subject to adjustment as set f
• $25,000 — a non-accountable expense allowance of $25,000, $40,000 for accountable expenses and c
• $40,000 — countable expense allowance of $25,000, $40,000 for accountable expenses and clearing f
• $15,950 — countable expenses and clearing fees of $15,950. The Placement Agent or its designees w
• $0.25 — 2,500,000 ADSs, at an exercise price of $0.25 per ADS and expiration date of January

Filing Documents

• zk2532514.htm (6-K) — 26KB
• exhibit_5-1.htm (EX-5.1) — 10KB
• exhibit_5-2.htm (EX-5.2) — 16KB
• exhibit_10-1.htm (EX-10.1) — 194KB
• exhibit_10-2.htm (EX-10.2) — 82KB
• exhibit_10-3.htm (EX-10.3) — 84KB
• image00002.jpg (GRAPHIC) — 3KB
• image00006.jpg (GRAPHIC) — 9KB
• 0001178913-25-000047.txt ( ) — 430KB

Forward Looking Statements

Forward Looking Statements This Report of on Form 6-K contains statements which constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward looking statements are based upon the Company's present intent, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur for various reasons, including some reasons which are beyond the Company's control. For example, this Report states that the Offering is expected to close on or about January 7, 2025. In fact, the closing of the Offering is subject to various conditions and contingencies as are customary in securities purchase agreements in the United States. If these conditions are not satisfied or the specified contingencies do not occur, this Offering may not close. For this reason, among others, you should not place undue reliance upon the Company's forward looking statements. Except as required by law, the Company undertakes no obligation to revise or update any forward looking statements in order to reflect any event or circumstance that may arise after the date of this Report on Form 6-K. Attached hereto are the following exhibits: Exhibit No. Description 5.1 Opinion of FISCHER (FBC & Co.) 5.2 Opinion of Greenberg Traurig, P.A. 10.1 Form of Securities Purchase Agreement dated as of January 6, 2025, between BioLineRx Ltd. and the investors signatory thereto 10.2 Form of Pre-Funded Warrant 10.3 Form of Ordinary Warrant 23.1 Consent of FISCHER (FBC & Co.) (contained in Exhibit 5.1) 23.2 Consent of Greenberg Traurig, P.A. (contained in Exhibit 5.2) Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BioLineRx Ltd. By: /s/ Philip Serlin Philip Serlin Chief Executive Officer Dated: January 7, 2025

View Full Filing

View this 6-K filing on SEC EDGAR