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Sunday, 10 July 2016 08:11

Bonus BioGroup Raises 4 Million NIS at 70 Agorot per Share

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Bonus BioGroup Raises 4 Million NIS at 70 Agorot per Share
Fundraised a total of 18 million NIS at a price 18% higher than the average stock exchange and intends to register all of its shares for trade in the US, at the NASDAQ or NYSE.

logo4footerBonus BioGroup announces today a capital investment by private allocation of 5.7 million common shares against cash payment of 4 million NIS.

This amount is priced at 70 agorot per share, which reflects a premium of approximately 18.5% over the closing price on the last trading date of signing the investment agreement.

This investment supplements a total of 18 million NIS raised between December 2014 and July 2016 in private offerings at a price-per-share higher by approximately 18% on average than the closing price on the Investment Agreement date.

The Company intends to register its shares for trading on the US stock exchange, initially with no public offerings in the United States. Highlighted by the Company's technological achievements, this milestone is estimated to boost the Company's share trade and facilitate raising additional capital.

The proceeds will be utilized, inter alia, for financing the Company's clinical trials in repairing bone deficiencies in various indications by transplantation of its live bone graft.

Bonus BioGroup estimates that its live human bone graft demonstrates qualities superior to any other non-living bone graft. Since the manufactured graft originates from and returns to the same patient, the Company believes that upon introduction of the graft into patients’ bodies, the biological identity of the transplant will be recognized by the patients’ immune system. Thus the common immunological response and rejection typical of foreign donor tissue transplantation are anticipated to be prevented.

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