A number of biomedical companies have published shelf prospectuses for future public offerings based on their financial reports for the third quarter of 2009. While not every shelf prospectus results in an offering, since an offering depends on market conditions and alternative sources of capital, there were already a number of rights issues and small secondary offerings on the basis of shelf prospectuses during the third quarter.
Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT), Biomedix Incubator Ltd. (TASE:BMDX), BiondVax Pharmaceuticals Ltd. (TASE:BNDX), Itamar Medical Ltd. (TASE:ITMR), and ProCognia (Israel) Ltd. (TASE:PRCG) have all filed shelf prospectuses.
Biocancell Therapeutics Ltd. (TASE:BICL) earlier published a shelf prospectus on the basis of its financial report for the second quarter, and plans to raise NIS 15-20 million. BiolineRX Ltd. (TASE:BLRX) also has a shelf prospectus, and the Israel Securities Authority recently lifted restrictions on offerings by the company.
Bio-Light is actively preparing a secondary offering, and has hired Excellence Nessuah Underwriting (1993) Ltd. as the underwriter and Cybele Holdings Ltd. as the advisor. Bio-Light apparently also plans to raise capital for its portfolio companies IOPtima Ltd., and Zetiq Technologies Ltd., but not on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on December 1, 2009
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