ALAMEDA, Calif.--(BUSINESS WIRE)--July 05, 2016-- BioTime, Inc. (NYSE MKT: BTX), a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine, today announced that the underwriters of BioTime, Inc.'s previously announced public offering that initially closed on June 21, 2016, have purchased an additional 1,098,326 shares of BioTime, Inc.'s common stock at a price of $2.39 per share, before deducting the underwriting discount, in connection with the exercise in full of their over-allotment option. BioTime, Inc. has now sold a total of 8,420,502 shares of its common stock in connection with the offering, with total gross proceeds of approximately $20.1 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by BioTime, Inc.
BioTime, Inc. intends to use the net proceeds from this offering to fund its research and development activities and for working capital and other general corporate purposes. Oppenheimer & Co. Inc. is acting as sole book-running manager for the offering. Chardan is acting as the co-manager for the offering. Ladenburg Thalmann & Co. Inc. is acting as a financial advisor for the offering. A registration statement relating to these securities was previously filed with and has become effective by rule of the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC's website at www.sec.gov. A final prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, New York, 10004, Attn: Syndicate Prospectus Department, or by telephone at (212) 667-8563, or by e-mail to EquityProspectus@opco.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About BioTime, Inc. BioTime, Inc. is a clinical-stage biotechnology company focused on developing and commercializing novel therapies in the field of regenerative medicine. The foundation of its core therapeutic technology platform is pluripotent cells that are capable of becoming any of the cell types in the human body. BioTime, Inc.'s research and other activities have resulted, over time, in the creation of other subsidiaries that address other non-therapeutic market opportunities such as cancer diagnostics, drug development and cell research products, and mobile health software applications. BioTime, Inc.'s common stock is traded on the NYSE MKT under the symbol BTX. For more information, please visit www.biotimeinc.com or connect with the company on Twitter, LinkedIn, Facebook, YouTube, and Google+. Forward-Looking Statements |
