Company: BLRX
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001178913-25-001123
Chunk: 121

Company: BioLineRx Ltd.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 3
Chunk 121
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 up to an aggregate of 1,250,000 ADSs. The purchase price was $8.00 per ADS and accompanying ordinary warrant
and $7.996 per pre-funded warrant and accompanying ordinary warrant. Aggregate gross proceeds from the offering (without taking into account
any proceeds from any future exercises of pre-funded warrants or ordinary warrants) were $10.0 million.

In September 2021, we entered into the ATM Agreement with HCW pursuant
to which we may offer and sell, at our option, up to $25.0 million of our ADSs through an at-the-market equity program under which HCW
agreed to act as sales agent. As of the issuance date of this Annual Report on Form 20-F, we have sold 141,910 of our ADSs for total gross
proceeds of approximately $19.0 million under the ATM program.

Loan Agreements with BlackRock

In September 2022, we entered into a secured Loan Agreement with
BlackRock, under which BlackRock agreed to provide us with access to term loans in an aggregate principal amount of up to $40 million
in three tranches, or the Loans. We drew down the initial tranche of $10 million following execution of the agreement in September 2022
and we drew down the second tranche of $20 million in April 2024, following fulfilment of the requisite milestones. The third tranche
was available for draw down until October 1, 2024, upon achievement of certain milestones was not drawn down.

67

In November 2024, in connection with the Ayrmid License Agreement,
we entered into the Loan Amendment to the Loan Agreement with BlackRock, pursuant to which, (i) we agreed to make aggregate payments of
$16.5 million, as partial repayment of the Loans and in lieu of future revenue-based payments, which were fully cancelled, (ii) effective
December 1, 2024, we agreed to pay the remaining amounts outstanding under the Loans (in principal and interest) over a three year period
ending December 1, 2027, and (iii) our minimum cash balance requirement under the Loan Agreement was reduced from $10 million to $4 million.
In addition, pursuant to the Loan Amendment, 10% of any future milestone payments received by us from the out-licensing agreements through
December 1, 2027 will be used to repay principal of the Loans, and the repayments in (ii