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BioTime (NYSEMKT: BTX) prices 7.322 M share offering - $2.39

June 16, 2016 10:31am

BTX is trading DOWN -$0.21 tor -7.75% to $2.40

BioTime (NYSE MKT: BTX), priced an offering of 7,322,176 shares of its common stock at an offering price of $2.39 per share.

The Bottom Line: The gross proceeds to BTX from this offering are expected to be approximately $17.5 M, before deducting underwriting discounts and commissions and other estimated offering expenses payable.

The offering is expected to close on or about June 21, 2016, subject to customary closing conditions. BioTime, Inc. has also granted to the underwriters a 30-day option to purchase from it up to an additional 1,098,326 shares of its common stock.

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 offering.

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