ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE MKT and TASE: BTX) today announced that it has agreed to sell 2,607,401 of its common shares, no par value, at an offering price of $3.29 per share, for a gross purchase price of approximately $8.58 million, to selected investors, including a major shareholder, Broadwood Partners, L.P. (“Broadwood”), in a registered direct offering. The price per share was the closing price of BioTime common shares on the NYSE MKT on September 11, 2015, the last trading day before BioTime and the investors entered into an agreement for the sale of the shares. Neal Bradsher, a member of the BioTime Board of Directors, is the President of the investment manager of Broadwood Partners, L.P. BioTime will pay no fees or commissions to broker-dealers or any finder’s fees, nor will we issue any stock purchase warrants, in connection with the offer and sale of the shares.
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