BLRX - BioLineRx raises bought deal offering to $30M

Due to demand, BioLineRx's (BLRX) underwriter, H.C. Wainwright & Co. has agreed to increase the size of the previous offering and purchase 12.5M ADSs (from 4.17M) at $2.40/ADS. Each ADS represents 15 ordinary shares.Expected gross proceeds are ~$30M. Underwriter's over-allotment is an additional 1.875M ADSs. Net proceeds will be used for general corporate purposes, working capital and funding clinical trials.Closing date is January 22.Shares down 18% after-hours. Yesterday's close was $3.17.Previously (Jan. 19): BioLineRx slumps -14% AH on $10M bought-deal offering

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BioLineRx raises bought deal offering to $30M