BioLight Israeli Life Sciences Investments Ltd. (TASE:BOLT) is moving towards a Nasdaq public offering. The Israeli company, which has a cluster of holdings developing therapies and equipment for treating glaucoma, dry eye and AMD, filed on Wednesday with the US Securities and Exchange Commission (SEC) to raise $10 million. The company is already traded on the TASE and OTC on Wall Street.
In its filing BioLight stressed that there is no certainty that it will carry out the offering. Feltl and Company and Rodman & Renshaw are the joint bookrunners on the deal. No pricing terms were disclosed.
The funds raised will be used by BioLight to develop and commercialize its products, expand into developing new products and for the regulatory proceedings required for marketing. The company expects the capital raised to last for 18 months.
BioLight, led by chairman Israel Makov, the former Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) CEO and CEO Suzana Nahum-Zilberberg, has a market cap of NIS 73 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016