This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BioTime Announces Receipt Of $8 Million From Early Exercise Of Warrants

BioTime, Inc. (NYSE Amex: BTIM), a biotechnology company that develops and markets products in the field of human stem cells and regenerative medicine, today announced that it has received an additional $8 million from two investors. These two investors have elected to exercise early and in full, at a discounted exercise price, the stock purchase warrants that they had acquired under their May 2009 stock and warrant purchase agreements with BioTime. The two investors, Broadwood Partners L.P. and Mr. George Karfunkel, have each acquired 2,200,000 BioTime common shares by exercising 2,200,000 warrants at a discounted exercise price of $1.818 per share, representing a discount of $0.182 per share from the original warrant exercise price of $2.00. The discount of slightly less than 9% was offered to these investors by BioTime as an inducement for early exercise so as to enable the company to raise capital and accelerate the implementation of its business plans.

Discount Offer to Other Warrant Holders

BioTime intends to offer to all of the holders of its outstanding common share purchase warrants having an exercise price of $2.00 per share and an expiration date of October 31, 2010 the opportunity to exercise their warrants at the same discounted exercise price of $1.818 for a period of 60 days following the effective date of a registration statement that it plans to file soon with the Securities and Exchange Commission. BioTime presently has 7,574,801 of the warrants outstanding, most of which are presently listed on the NYSE Amex and trade under the symbol BTIM.WS. The warrants may not be exercised at the discounted price until the registration statement becomes effective. Before the registration statement becomes effective and after the discount offer expires, the warrants will be exercisable at the original exercise price of $2.00 per share. The new warrant discount offer will replace BioTime's previously-announced planned offer that would have allowed holders of its warrants to exercise up to 3,000,000 warrants at a price of $1.70 per share.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs