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.
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