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Biotime Inc's Asterias Biotherapeutics Inc. files registration statement for underwritten public offering


Monday, 2 Dec 2013 09:00am EST 

Biotime Inc:Says Asterias Biotherapeutics Inc., a subsidiary of BioTime Inc. has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to $15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right.Says shares of Series B common stock and redemption rights will immediately be freely tradable as separate securities.Says number of units to be sold and the price range for the proposed offering have not yet been determined.Says offering will be made through Burrill Securities LLC.Says Asterias plans to use the net proceeds of the offering to fund its product development programs and for working capital.Says Asterias intends to apply to list the Series B common stock on the NYSE MKT under the symbol AST.