BioLineRx Receives Investment From Shareholder

BioLineRx shares were higher 2% on Wednesday after the company said it has received an additional investment of $9.6 million from BVF Partners, with which the company’s largest shareholder has increased its stake to 24.9%. The units, consisting of one ordinary share, 0.35 of a series A warrant, and 0.35 of a series B warrant, were priced at $1.13 each.

The series A warrants have an exercise price of $2.00 per ordinary share and a 4-year term. The series B warrants have an exercise price of $4.00 per ordinary share and a 4-year term. The sale is expected to close on or about July 31.

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