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Wednesday, February 22, 2012
BioLineRx Ltd., of Jerusalem, said it is raising about $15 million through agreements with U.S. institutional investors to place about 5.2 million American depositary shares (ADSs) priced at $2.86 each, along with warrants to purchase up to 2.6 million additional ADSs at an exercise price of $3.57. Net proceeds are expected to total about $14.1 million and will be used for working capital and for continued development of the firm's 18 compounds.
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