Date: 2013-05-17
Type of information: Establishment of a new subsidiary in the EU
Company: BiolineRx (Israel)
Investors: Stifel, Nicolaus & Company (USA)
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Planned used:
Others: * On May. 17, 2013, BioLineRx, a biopharmaceutical development company, has announced that it has entered into an at-the-market (ATM) sales agency agreement with Stifel. Pursuant to this agreement, the Company may from time to time, in its discretion, sell up to a maximum of $20,000,000 of the Company’s American Depositary Shares (ADSs). Each ADS represents ten Ordinary Shares of the Company.
The ATM program does not constitute an immediate sale of the Company’s ADSs. The program permits the Company to raise capital at the times and in amounts deemed suitable by management. The Company is not required to sell any ADSs at any time. The Company intends to use net proceeds from the ATM facility, if any, to fund clinical trials and for working capital and general corporate purposes.
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