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BioTime (BTIM.PK) Raises $4,000,000 in Equity Financing
5/14/2009 9:01:48 AM
ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (OTCBB:BTIM) announced that it has raised $4,000,000 of equity capital through the sale of 2,200,000 common shares and 2,200,000 stock purchase warrants to two private investors. The warrants entitle the investors to purchase additional common shares at an exercise price of $2.00 per share and expire on October 31, 2010. In addition, the investors have an option to purchase an additional 2,200,000 common shares and a like number of warrants for an additional $4,000,000 on or before July 14, 2009. If the additional shares and warrants are purchased and if all of the warrants are exercised, BioTime will receive a total of $16,800,000 through this financing.
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