BioTime to Raise $9 Million in Registered Direct Offering

Published: Jun 04, 2013

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ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE MKT: BTX) today announced that it has agreed to sell up to an aggregate of 2,180,016 common shares and 545,004 warrants to purchase common shares, in “units” with each unit consisting of one common share and one-quarter of a warrant, at an offering price of $4.155 per unit. BioTime expects to receive gross proceeds of $9,057,966.48 from the sale of the common shares and warrants. The price per unit was based upon the volume weighted average closing price of BioTime common shares in the NYSE MKT for the ten trading days ending May 24, 2013. The warrants will have an initial exercise price of $5.00 per share and will be exercisable during the five year period beginning on the date of issuance.

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