BioLight Life Sciences is engaging in a shareholder rights offering of up to NIS12m (if fully subscribed) to strengthen its balance sheet. While BioLight had NIS20.2m net cash at Q117, most was held at subsidiaries, and only NIS4.7m was directly available to the parent firm; hence the imminent funding need. The four largest shareholders (representing 55%) will participate to some degree in the rights offering. If fully subscribed, we estimate the rights offering can provide funding into at le
19 Jun 2017
BioLight to raise up to NIS12m in rights offering
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BioLight to raise up to NIS12m in rights offering
BioLight Life Sciences Ltd. (BOLT:TAE) | 0 0 0.3% | Mkt Cap: 54.9m
- Published:
19 Jun 2017 -
Author:
Pooya Hemami -
Pages:
7
BioLight Life Sciences is engaging in a shareholder rights offering of up to NIS12m (if fully subscribed) to strengthen its balance sheet. While BioLight had NIS20.2m net cash at Q117, most was held at subsidiaries, and only NIS4.7m was directly available to the parent firm; hence the imminent funding need. The four largest shareholders (representing 55%) will participate to some degree in the rights offering. If fully subscribed, we estimate the rights offering can provide funding into at le