Alameda’s BioTime to Raise $9 million in Capital

Alameda’s BioTime, Inc. announced this week that it intends to raise $9 million through the sale of some 2 million common shares and 545,000 warrants in a registered direct offering.

The warrants will consist of one common share and one-quarter of a warrant, offered at $4.155 per unit. The company expects to receive $9,057,966.48 (gross) from the sale of the shares and warrants.

OBEX Securities, of Larchmont, New York, and other broker-dealers will take a fee equal to 5 percent of the aggregate purchase price of the units sold.

BioTime plans to use the net proceeds from the sale for working capital and other general corporate purposes.