Seeking Alpha

Asterias raises $12.5M

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.

Proceeds will be used to finance Asterias' product development programs including AST-OPC1 for the treatment of spinal cord injury and AST-VAC2, an immunotherapeutic for non-small cell lung cancer.

Comments (1)
  • jollylou
    , contributor
    Comments (2) | Send Message
    When do I get the opportunity as a BTX shareholder to purchase warrants @2.34. ????
    17 Jun 2014, 01:19 PM Reply Like
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