BioLight Announces Closing of Upsized US$6.6 Million Private Placement
TEL-AVIV, Israel, May 12, 2015 /PRNewswire/ --
BioLight Life Sciences Investments (OTCQX: BLGTY, TASE: BOLT), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, announced today that it has completed an upsized private placement as part of the strategic partnership with Rock-One International Holdings Ltd for aggregate gross proceeds of US$6.6 million.
The strategic partnership along with the private placement was previously announced on April 2, 2015. The offering resulted in the issuance of ordinary shares to Rock-One, which account for approximately 19% of BioLight's issued and outstanding shares. Rock-One's equity investment is approximately $6.25 million, a 12% premium over the average closing price of BioLight shares in the 30-days prior to signing the investment agreement.
BioLight also announced that a new private investor participated in the private placement with the same terms in the amount of $350,000.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
About Rock-One International Holdings Ltd.
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Rock-One is a Hong Kong corporation with offices in Hong Kong and Macau. The company is involved with different investments in Greater China and North America, including real-estate development and construction, internet technology, agriculture, healthcare and bio-med. Patrick Lau is the founder and CEO of Rock-One.
About BioLight Life Sciences Ltd.
BioLight invests in, manages and commercializes biomedical innovations grouped around defined medical conditions - ophthalmology and cancer diagnostics. The ophthalmic technologies include IOPtiMate™, a laser-based non-invasive surgical treatment for glaucoma; TeaRxTM, a point-of-care multi-parameter diagnostic test for dry-eye syndrome; Eye-D®, a controlled release drug-delivery insert platform and a new technology a drug-delivery platform for the improvement of ocular molecule transmission; and OphRx, a drug delivery technology platform for ocular uses. The cancer diagnostic technologies include proprietary tests that are designated for bladder, cervical, multiple myeloma and other cancers.
Leading key investors, holding about 36% of BioLight's issued and outstanding shares, are Mr. Israel Makov, Chairman of Sun Pharmaceuticals, former CEO and President of Teva Pharmaceuticals and former Chairman of Given Imaging, Mr. Dilip Shanghvi, founder of Sun Pharmaceuticals, India's largest pharmaceutical company, and Mr. Dan Oren, founder and CEO of Dexcel Pharma, the second-largest pharmaceutical manufacturer in Israel.
For more information please visit the Company's website at http://www.bio-light.co.il
Itai Bar-Natan, CFO