Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 9:13 AM
|This Slide: #424 of 581|
Slide #424. BioTime — Preferred Stock Offering
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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Strong Buy (4.00 out of 4)
(ranked higher than approx. 95% of all stocks covered)
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