BioLineRx plans $3.75M share offering at $2.78 per ADS

BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX) has entered into a definitive agreement for a registered direct offering of 1,348,921 American Depositary Shares at $2.78 per ADS, with gross proceeds expected to total $3.75 million before placement agent fees and other expenses.

The Tel Aviv-based company has also agreed to issue warrants to purchase up to 2,023,382 ADSs at an exercise price of $2.78 per ADS through a concurrent private placement. The warrants will expire five years from the issuance date. Each ADS represents 600 ordinary shares with a par value of NIS 0.10 per share.

The offering is expected to close on or about Aug. 31, 2026, subject to customary closing conditions. Chardan is acting as the exclusive placement agent.

BioLineRx said it intends to use the net proceeds for research and development activities, working capital, and general corporate purposes.

In connection with the offering, the company also amended outstanding warrants to purchase 277,273 ADSs previously held by the investor. The amended warrants will carry a reduced exercise price of $2.78 per ADS and an extended expiration date of Aug. 31, 2031, effective upon closing.

The registered direct offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on Dec. 29, 2023, and declared effective on Jan. 5, 2024.

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