Indication intelligence, analysis and sector perception

BioTime (NYSEMKT: BTX) $3.19 share purchase with Broadwood Partners for $5.1 M of equity

October 2, 2015 10:45am

BTX is UP +$0.11 to $3.30 after raising $20.7 M on the Tel Aviv TASE <last week> - HOLD

BioTime, Inc. (NYSE MKT and TASE: BTX), has agreed to sell 1,600,000 of its common shares, no par value, at an offering price of $3.19 per share to its largest shareholder, Broadwood Partners, L.P.

BioTime expects to receive gross proceeds of approximately $5.1 M from the sale. The price per share was the closing price of BioTime common shares on the NYSE MKT on October 1, 2015, the last trading day before BioTime and the investor agreed upon the purchase price.

The Bottom Line: Neal Bradsher, a BTX director, is the President of the investment manager of Broadwood. This isn’t the first time and not the last that BTX “taps” Neil! BTX will pay no fees or commissions to broker-dealers or any finders’ fees, nor issue any stock purchase warrants. The sale is expected to close on October 7, 2015.

The 52 week trading range of $2.20 to $5.95 moves in the $2.90 to $3.71 since 7/1/15. It spurts, spins, dumps and jumps. The business model is TOO interwoven to be truly understood and effectively valued!

35 companies, 1 interpreter!

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