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Hold (2.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 3:09 PM
Slide #463. BioTime — Preferred Stock Offering
| Company: |
BioTime (BTX) |
| Date announced: |
3/5/2014 |
| Preferred Stock Offering Details: |
BioTime, Inc. (NYSE MKT:BTX) today announced it has sold 70,000 shares of a newly authorized Series A Convertible Preferred Stock for $3.5 million. The Series A Preferred Stock carries a cumulative annual 3% preferred dividend or $1.50 per share, in preference to BioTime common shares. Each share of Series A Preferred Stock is convertible, at the election of the holder, into BioTime common shares at a conversion price of $4.00 per share, a current conversion ratio of 12.5 common shares for each share of Series A Preferred Stock. |
Brooklyn ImmunoTherapeutics is a clinical-stage biopharmaceutical company focused on exploring the role that cytokine-based therapy can have on the immune system in treating patients with cancer, both as a single agent and in combination with other anti-cancer therapies. Co. is seeking to develop IRX-2, a cytokine-based therapy, to treat patients with cancer. Co. also is exploring opportunities to advance oncology, blood disorder, and monogenic disease therapies using gene-editing and cell therapy technology through a license with Factor Bioscience Limited and through its subsidairies, Novellus, Inc. and Novellus, Ltd.
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