In a private transaction, BioTime (BTX -0.3%) subsidiary Asterias Biotherapeutics raises $12.5M through the sale of 5M BTX shares of common stock held by Asterias and the issuance of warrants to purchase 5M shares of Asterias Series B common stock. The BTX shares were sold at $2.50/share. The warrants' exercise price is $2.34. If they are exercised in full, Asterias will receive an additional $11.7M.
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