Chinese investor LOI to privatise company
BioLight has announced that on 6 November 2016, following approval from its board of directors and an independent special committee, it signed a non-binding letter of intent (LOI) with an unnamed Chinese investor (the Fund), that offers to privatise BioLight by acquiring 45% of its currently outstanding shares (COS) at a price of NIS16.50 per share. Pricing terms could change given that the due diligence process and negotiations about the definitive agreements are still ongoing and may take several weeks.
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