BioLight plans to raise $12 million through initial public stock sale

Bookrunners Feltl and Rodman & Renshaw will assist with offering

By Devika Patel

Knoxville, Tenn., Feb. 26 – BioLight Life Sciences Ltd. will raise $12 million in its initial public offering of stock with warrants with a 45-day, 15% greenshoe, according to a FWP filed Friday with the Securities and Exchange Commission.

The company has registered up to $34.53 million of stock, including shares underlying the warrants, for the deal, which was announced on Feb. 10.

The company will sell 1,848,000 common shares and warrants for 1,848,000 shares, with a 45-day greenshoe of 277,200 additional shares and 277,200 additional warrants.

The shares and warrants will be issued separately. Each warrant will be exercisable at 150% of the offering price for 30 months.

The prices will reflect a 1-for 10 reverse share split, effected on Aug. 2, 2015, and will also reflect a 1-for-25 reverse share split that was approved on Feb. 22 and is expected to take effect on Feb. 28.

Feltl and Co. and Rodman & Renshaw are the bookrunners.

Proceeds will be used to develop and commercialize products and product candidates and expand the company’s product pipeline, for research and development, for obtaining regulatory clearances and approvals, for establishing marketing capabilities and the company’s sales force, for working capital and for general corporate purposes.

The ophthalmic company is based in Tel Aviv. The company intends to list its stock on the Nasdaq under the symbol “BOLT.”

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