BioTime Conducts Sale of Shares in OncoCyte Corporation
Brooklyn ImmunoTherapeutics, Inc. (BTX)
NASDAQ:AMEX Investor Relations:
biotimeinc.com/pexservice/investors
Company Research
Source: Business Wire
ALAMEDA, Calif.--(BUSINESS WIRE)--BioTime, Inc. (NYSE American and TASE: BTX), a clinical-stage biotechnology company developing cellular therapies for unmet medical needs, announced the pricing of the sale of 2,250,000 shares of common stock of OncoCyte Corporation at a price to buyers of $2.00 per share, for gross proceeds totaling $4,500,000, before payment of customary sales commissions and offering expenses. The sale is expected to close on July 5, 2019, subject to customary closing conditions. Following the completion of the sale, BioTime will own approximately 23.9% or 12.4 million shares of OncoCyte’s outstanding common stock. Based on the closing price of OncoCyte’s common stock on July 2, 2019, the value of BioTime’s remaining OncoCyte shares following the closing is approximately $24.6 million.“As we first outlined last year, we are simplifying our corporate structure and focusing our priorities in order to build BioTime into a premier cell therapy company. To support o
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