Correcting and Updating Blog, BioTime (NYSE Amex: BTIM)
We all make mistakes and I am the first to admit! Referencing blog, 6/29/10:
We had stated: BTIM filed a shelf registration with the SEC, 6/28/10 to sell up to 1,383,400 common shares, 300,000 warrants, 300,000 Common Shares issuable upon exercise of warrants, or any combination. All of the net proceeds from the sale of the common shares and warrants, and any common shares issued upon the exercise of the warrants, by the selling security holders will belong to the selling security holders and not to BioTime.
That is not the case!
- Actually, it was not a shelf or an equity offering,
- BTIM is registering shares for the government of Singapore as part of the purchase of ES Cell International,
- There is widespread misunderstanding on this point,
- Many investors were misunderstanding it as a registration for a new equity offering that could dilute their shares on an undetermined basis,
- These shares simply go to Singapore and the small number (300,000) of shares underlying the warrants have an exercise price at $10.
Categories: Stem Cell Technology
