Form DEFM14A
ASTERIAS BIOTHERAPEUTICS, INC. filed this Form DEFM14A on 02/04/2019
Document Outline
Entire Document (5655.2 KB)
Subdocument 1 - DEFM14A
Page 1 - UNITED STATES
Page 2 - Filed Pursuant to Rule 424(b)(3)
Page 3 - BioTime Special Meeting ), BioTime shareholders will be asked to consider and vote on (i) a proposal
Page 4 - The obligations of BioTime and Asterias to complete the Merger are subject to the satisfaction or wa
Page 5 - BIOTIME, INC.
Page 6 - Your vote is important. Whether or not you expect to attend in person, we urge you to vote your shar
Page 7 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 8 - Your vote is important. Whether or not you expect to attend in person, we urge you to vote your shar
Page 9 - If you would like to request documents, please do so no later than five business days before the dat
Page 10 - SEC ) by BioTime (File No. 333-229141), constitutes a prospectus of BioTime under Section 5 of the S
Page 11 - N/A
Page 12 - N/A
Page 13 - N/A
Page 14 - RESULTS OF OPERATIONS
Page 15 - BioTime Special Meeting ) or the special meeting of Asterias stockholders (the Asterias Special Meet
Page 16 - Asterias Warrants ) will be treated in accordance with the terms of the applicable Warrant Agreement
Page 17 - Q: Will there be any changes to the BioTime board of directors if the merger becomes effective?
Page 18 - BioTime Share Issuance ) to the stockholders of Asterias in the Merger (the BioTime Share Issuance P
Page 19 - The Asterias Board recommends that Asterias stockholders vote FOR the Asterias Merger Proposal and F
Page 20 - N/A
Page 21 - Do not send in your certificates now.
Page 22 - DGCL ), holders of Asterias Common Stock are not entitled to appraisal rights in connection with the
Page 23 - AgeX ). The distribution of the AgeX shares occurred on November 28, 2018 (with record date of Novem
Page 24 - Q: Who is paying for this proxy solicitation?
Page 25 - Asterias Biotherapeutics, Inc.
Page 26 - Annex A to this joint proxy statement/prospectus. BioTime and Asterias encourage you to read the ent
Page 27 - Asterias Equity Plan ), with references to Asterias in the Asterias Equity Plan and award agreements
Page 28 - Asterias Reasons for the Merger; Recommendation of the Asterias Special Committee and Board of Direc
Page 29 - The Asterias Special Meeting; Required Vote (Page 41)
Page 30 - Interests of Asterias Directors and Executive Officers in the Merger (Page 83)
Page 31 - Go-Shop Period ), Asterias was permitted to initiate, solicit and encourage any inquiry or the makin
Page 32 - U.S. GAAP ). The Merger will be accounted for in accordance with Accounting Standards Codification T
Page 33 - N/A
Page 34 - N/A
Page 35 - OncoCyte ), are accounted for at fair value with changes in fair value included in other income and
Page 36 - COMPARATIVE HISTORICAL AND PRO FORMA PER SHARE FINANCIAL DATA
Page 37 - N/A
Page 38 - COMPARATIVE PER SHARE MARKET PRICE AND DIVIDEND INFORMATION
Page 39 - N/A
Page 40 - N/A
Page 41 - N/A
Page 42 - N/A
Page 43 - Annexes B and C, respectively, to this joint proxy statement/prospectus. For a description of the fa
Page 44 - The Merger may be completed even though material adverse changes may result from the announcement of
Page 45 - N/A
Page 46 - N/A
Page 47 - BioTime s and Asterias operations require substantial ongoing capital, and if financing is not avail
Page 48 - The prospective financial forecasts relating to BioTime and Asterias (including the Forecasts used b
Page 49 - N/A
Page 50 - N/A
Page 51 - N/A
Page 52 - N/A
Page 53 - N/A
Page 54 - Accordingly, the Asterias Board, acting upon the unanimous recommendation of the Asterias Special Co
Page 55 - The Asterias Board recommends that Asterias stockholders vote FOR the Asterias Merger Proposal and t
Page 56 - Your vote is important. Accordingly, please mark, sign, date and return the enclosed proxy card whet
Page 57 - N/A
Page 58 - Asterias Biotherapeutics, Inc.
Page 59 - Annex A and is incorporated by reference into this joint proxy statement/prospectus. This summary do
Page 60 - Dentons ) about the news that BioTime may submit a letter of intent to Asterias and the proper proce
Page 61 - N/A
Page 62 - Cooley ), legal counsel to BioTime and the BioTime Special Committee, present. Representatives of Co
Page 63 - N/A
Page 64 - AgeX ) and that the distribution could impact the exchange ratio. Mr. Russell conveyed that BioTime
Page 65 - Covington ), the BioTime Special Committee s additional independent counsel, present for a portion o
Page 66 - N/A
Page 67 - N/A
Page 68 - N/A
Page 69 - N/A
Page 70 - N/A
Page 71 - N/A
Page 72 - Annex B to this joint proxy statement/prospectus and is incorporated herein by reference in its enti
Page 73 - N/A
Page 74 - peers ):
Page 75 - N/A
Page 76 - N/A
Page 77 - Precedent Transactions Analysis
Page 78 - N/A
Page 79 - N/A
Page 80 - N/A
Page 81 - N/A
Page 82 - N/A
Page 83 - The Asterias Board recommends (by unanimous vote of the disinterested members of the Asterias Board,
Page 84 - Annex C to this joint proxy statement/prospectus. The summary of the opinion of Raymond James set fo
Page 85 - N/A
Page 86 - N/A
Page 87 - N/A
Page 88 - Asterias Selected Transactions ). For each transaction, Raymond James reviewed the total transaction
Page 89 - BioTime Selected Transactions ). For each transaction, Raymond James reviewed the total transaction
Page 90 - N/A
Page 91 - N/A
Page 92 - Opinion Fee ) in the amount of $500,000. Asterias will also pay Raymond James a fee for advisory ser
Page 93 - N/A
Page 94 - N/A
Page 95 - OPC1 Projections ) and (ii) projections relating to Asterias VAC2 clinical program that Asterias pro
Page 96 - N/A
Page 97 - Service as Directors or Executive Officers of BioTime; Family Relationships
Page 98 - N/A
Page 99 - Indemnified Parties ) against any costs or expenses (including advancing attorneys fees and expenses
Page 100 - N/A
Page 101 - N/A
Page 102 - Annex A and is incorporated by reference into this joint proxy statement/prospectus. This summary do
Page 103 - Asterias Equity Plan ) will be cancelled and extinguished for no consideration and will cease to exi
Page 104 - Representations and Warranties
Page 105 - N/A
Page 106 - N/A
Page 107 - N/A
Page 108 - N/A
Page 109 - N/A
Page 110 - N/A
Page 111 - Go-Shop Period ), Asterias and its representatives may (i) solicit, initiate, encourage and facilita
Page 112 - N/A
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Page 121 - N/A
Page 122 - The BioTime Board recommends that BioTime shareholders vote FOR the BioTime Adjournment Proposal.
Page 123 - N/A
Page 124 - IRS ), each as in effect as of the date hereof, and all of which are subject to change or differing
Page 125 - N/A
Page 126 - hES ) cell lines, which were originally isolated in the 1990 s and which have almost unlimited capac
Page 127 - cGMP ) master cell bank of undifferentiated hES cells that has been qualified for human use. These c
Page 128 - Positive Safety Profile Asterias has dosed 25 subjects with AST-OPC1 in the SCiStar study and a tota
Page 129 - FDA ) specifically for the treatment of spinal cord injury, although methylprednisolone, a corticost
Page 130 - AST-VAC2
Page 131 - Services Agreement ) with Cell Therapy Catapult Services Limited ( Catapult ), a research organizati
Page 132 - Asset Contribution Agreement ), currently includes approximately 420 patents and patent applications
Page 133 - N/A
Page 134 - WARF ) under which Asterias was granted a worldwide non-exclusive license under certain WARF patents
Page 135 - USPTO ) when more than one person files a patent application covering the same technology, or if som
Page 136 - N/A
Page 137 - CBER ) Office of Tissues and Advanced Therapies ( OTAT , formerly known as the Office of Cellular, T
Page 138 - SCRO Committee ) before conducting the research. Under certain California regulations, all hES cell
Page 139 - N/A
Page 140 - Pro Forma Financial Statements ) of BioTime after giving effect to the proposed Merger with Asterias
Page 141 - BioTime, Inc.
Page 142 - BioTime, Inc.
Page 143 - BioTime, Inc.
Page 144 - Notes to Unaudited Pro Forma Condensed Combined Financial Information
Page 145 - N/A
Page 146 - Note 3. Preliminary estimated purchase price allocation
Page 147 - DTL ) in accordance with ASC 740, Income Taxes. This DTL is computed using the fair value of the IPR
Page 148 - Note 4. Adjustments to the Pro Forma Balance Sheet
Page 149 - N/A
Page 150 - Note 5. Adjustments to the Pro Forma Statements of Operations
Page 151 - Mast ), from February 2010, and was also a member of its Board of Directors from December 2011, unti
Page 152 - N/A
Page 153 - N/A
Page 154 - IP ) and Licensing at Salix Pharmaceuticals from 2007 - 2015, a global pharmaceutical company that w
Page 155 - N/A
Page 156 - OPERATIONS OF ASTERIAS
Page 157 - N/A
Page 158 - N/A
Page 159 - ASC 505-50 ). Stock option awards issued to non-employees, principally consultants
Page 160 - N/A
Page 161 - N/A
Page 162 - N/A
Page 163 - Other income/(expense), net
Page 164 - Securities Act ), including in at-the-market transactions, or in private placements to select invest
Page 165 - N/A
Page 166 - N/A
Page 167 - OF ASTERIAS COMMON STOCK
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Page 178 - N/A
Page 179 - BIOTIME
Page 180 - N/A
Page 181 - ASTERIAS
Page 182 - N/A
Page 183 - N/A
Page 184 - N/A
Page 185 - N/A
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Page 187 - N/A
Page 188 - Report of Independent Registered Public Accounting Firm
Page 189 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 190 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 191 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 192 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 193 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 194 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 195 - 2. Summary of Significant Accounting Policies
Page 196 - N/A
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Page 201 - 3. Balance Sheet Components
Page 202 - 4. Investments in BioTime and OncoCyte Common Stock
Page 203 - 6. Common Stock and Warrants
Page 204 - N/A
Page 205 - 7. Equity Incentive Plan
Page 206 - N/A
Page 207 - N/A
Page 208 - 8. Commitments and Contingencies
Page 209 - N/A
Page 210 - N/A
Page 211 - 9. Shared Facilities and Service Agreement
Page 212 - 10. Income Taxes
Page 213 - 11. Segment Information
Page 214 - 13. License and Royalty Obligations
Page 215 - N/A
Page 216 - 14. Clinical Trial and Option Agreement with CRUK and CIRM Grant Award
Page 217 - 15. Cross-License and Share Transfer with BioTime and Subsidiaries
Page 218 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 219 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 220 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 221 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 222 - ASTERIAS BIOTHERAPEUTICS, INC.
Page 223 - 2. Summary of Significant Accounting Policies
Page 224 - Comprehensive loss ASC 220, Comprehensive Income, requires that an entity s change in equity or net
Page 225 - Recently Issued Accounting Pronouncements Not Yet Adopted The following accounting standards, which
Page 226 - 3. Balance Sheet Components
Page 227 - Receivables
Page 228 - 5. Intangible Assets
Page 229 - N/A
Page 230 - 7. Stock-Based Compensation
Page 231 - 8. Commitments and Contingencies
Page 232 - N/A
Page 233 - 9. Shared Facilities and Services Agreement
Page 234 - 10. Income Taxes
Page 235 - 12. Clinical Trial and Option Agreement with CRUK and CIRM Grant Award
Page 236 - Annex A
Page 237 - TABLE OF CONTENTS
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Page 239 - N/A
Page 240 - Recitals
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Page 245 - s, (i) each Asterias RSU Award that is held by any Worker and is outstanding as of immediately prior
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Page 323 - SCHEDULE 1.6
Page 324 - Annex B
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Page 327 - Annex C
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