BioTime, Inc. Announces Closing of Public Offering of Common Stock
ALAMEDA, Calif.--(BUSINESS WIRE)--Jun. 21, 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 the closing of its previously
announced underwritten public offering. BioTime, Inc. sold 7,322,176
shares of its common stock in the offering. The offering price was $2.39
per share and gross proceeds to BioTime, Inc. are approximately $17.5
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
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
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
Certain statements contained in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements pertaining to future financial and/or
operating results, future growth in research, technology, clinical
development, and potential opportunities for BioTime, Inc. and its
subsidiaries, along with other statements about the future expectations,
beliefs, goals, plans, or prospects expressed by management constitute
forward-looking statements. Any statements that are not historical fact
(including, but not limited to statements that contain words such as
“will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”
should also be considered to be forward-looking statements.
Forward-looking statements involve risks and uncertainties, including,
without limitation, risks inherent in the development and/or
commercialization of potential products, uncertainty in the results of
clinical trials or regulatory approvals, need and ability to obtain
future capital, and maintenance of intellectual property rights. Actual
results may differ materially from the results anticipated in these
forward-looking statements and as such should be evaluated together with
the many uncertainties that affect the business of BioTime, Inc. and its
subsidiaries, particularly those mentioned in the cautionary statements
found in more detail in the “Risk Factors” section of its Annual Reports
filed with the SEC (copies of which may be obtained at www.sec.gov).
Subsequent events and developments may cause these forward-looking
statements to change. BioTime, Inc. specifically disclaims any
obligation or intention to update or revise these forward-looking
statements as a result of changed events or circumstances that occur
after the date of this release, except as required by applicable law.
To receive ongoing BioTime corporate communications, please click on the
following link to join our email alert list: http://news.biotimeinc.com.
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Source: BioTime, Inc.
Dan L. Lawrence, 510-775-0510
EVC Group, Inc.
Michael Polyviou, 646-445-4800
Gotham Communications, LLC
Bill Douglass, 646-504-0890