BioLight Life Sciences - Funding provides breathing room
BioLight raised NIS11.4m (gross) from the issuance of 908,540 shares in May 2018. We believe these funds should allow BioLight to fund its operations until at least H218, at which point we expect it to receive $12m from the second stage (out of four) of the IOPtima divestiture transaction. BioLight expects that upon completion of all stages (ie by mid-2021), it will receive gross proceeds of $23-27.3m for its entire holding.
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