BioTime, Inc. Announces Full Exercise and Closing of Underwriters’ Over-Allotment Option
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 that the underwriters of BioTime, Inc.’s previously announced public
offering that initially closed on June 21, 2016, have purchased an additional 1,098,326 shares of BioTime, Inc.’s common stock at a
price of $2.39 per share, before deducting the underwriting discount, in connection with the exercise in full of their
over-allotment option. BioTime, Inc. has now sold a total of 8,420,502 shares of its common stock in connection with the offering,
with total gross proceeds of approximately $20.1 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 offering.
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 jurisdiction.
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 Google+.
Forward-Looking Statements
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.
BioTime, Inc.
Dan L. Lawrence, 510-775-0510
dlawrence@biotimeinc.com
or
Investor Contact:
EVC Group, Inc.
Michael Polyviou, 646-445-4800
mpolyviou@evcgroup.com
or
Media Contact:
Gotham Communications, LLC
Bill Douglass, 646-504-0890
bill@gothamcomm.com
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