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SEC Filings

424B3
BIOTIME INC filed this Form 424B3 on 02/04/2019
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In connection with the preparation of its opinion, Raymond James, among other things:

 

  reviewed the financial terms and conditions of the Merger as stated in the draft of the Merger Agreement, dated as of November 6, 2018, which we refer to in this section as the “Draft Agreement”, such draft being the last draft of the Merger Agreement provided to Raymond James;
     
  reviewed certain information related to the historical, current and future operations, financial condition and prospects of Asterias made available to Raymond James by Asterias, including, but not limited to, financial projections for 2019 through 2038 prepared by the management of Asterias, as approved for Raymond James’ use by Asterias which we refer to in this section as the “Asterias Projections”;
     
 

reviewed certain information related to the historical, current and future operations of BioTime made available to Raymond James by Asterias, including, but not limited to, financial projections for 2019 through 2028 prepared by the management of Asterias, as approved for Raymond James’s use by Asterias which we refer to in this section as the “BioTime Projections,” and together with the Asterias Projections, the “Projections Used By Raymond James”;

     
  reviewed Asterias’ recent public filings and certain other publicly available information regarding Asterias;
     
  reviewed BioTime’s recent public filings and certain other publicly available information regarding BioTime;
     
  reviewed certain other non-public financial, operating and other information regarding Asterias and BioTime provided to Raymond James by Asterias;
     
  reviewed the financial and operating performance of selected public companies that Raymond James deemed to be relevant;
     
  reviewed the publicly available financial terms of selected transactions that Raymond James deemed to be relevant;
     
  reviewed the current and historical market prices for Asterias Common Stock and BioTime Common Shares, and the current market prices of the publicly traded securities of certain other companies that Raymond James deemed to be relevant;
     
  considered certain discussions and negotiations between representatives of Asterias and BioTime in which Raymond James participated;
     
  conducted such other financial studies, analyses and inquiries, and considered such other factors, as Raymond James deemed appropriate;
     
  discussed with members of the senior management of Asterias certain information relating to the aforementioned and any other matters which Raymond James deemed relevant to its inquiry; and
     
  received a certificate regarding financial statements and projections from the Chief Financial Officer of Asterias as of November 6, 2018.

 

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