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Israel’s BioLight Announces Closing of Upsized $6.6 Million Private Placement

BioLight also announced that a new private investor participated in the private placement with the same terms in the amount of $350, 000.

biolight

Israel’s BioLight Life Sciences Investments Ltd., a manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, has completed an upsized private placement as part of the strategic partnership with Rock-One International Holdings Ltd for aggregate gross proceeds of $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.

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.

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.

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