Geron stockholders would receive shares totaling 21.4% of the subsidiary as well as warrants to buy 8 mil shares of BioTime common stock at a pre-specified price. Naked shorts would have nowhere to hide. Maybe Chippy is smarter than we give him credit for?
MENLO PARK, Calif. & ALAMEDA, Calif.--(BUSINESS WIRE)--Asterias Biotherapeutics, Inc. and BioTime, Inc. (NYSE MKT: BTX) today announced that Asterias has executed a long term lease for a research, development and manufacturing facility to house all of its cell therapy product development activities. Located at 6300 Dumbarton Circle, Fremont, California, the leased facility contains approximately 44,000 square feet of existing office, laboratory and vivarium space. The lease commencement date is expected to be October 1, 2014 and is for an eight (8) year term with two five (5) year extension options.
"Geron would sell its intellectual property and other assets related to the human embryonic stem cell programs to a recently formed BioTime subsidiary. BioTime would put $5 mil cash into the subsidiary in addition to $30 mil in BioTime common shares, warrants to buy 8 mil shares of BioTime at a pre-specified price, rights to use certain human embryonic stem cell lines and minority stakes in two of BioTime's subsidiaries.
Geron stockholders would receive shares totaling 21.4% of the subsidiary as well as warrants to buy 8 mil shares of BioTime common stock at a pre-specified price.
BioTime would own 71.6% of the subsidiary and the undisclosed private investor would own about 7% of the new company for a $5 mil investment.
BioTime also would receive warrants that would enable it to increase its ownership in the subsidiary by about 2%
The subsidiary also would pay to Geron royalties on the sale of any products that are commercialized from Geron patents acquired by the new company."
BTX subsidiary under Asterias was listed as an IPO under AST
GERON reduced it's space from 31,000 sq.ft down to 24,000 sq.ft This 6,000 sq.ft. represents the space they sub leased to Asterias which is moving into a 24,000 sq ft facility.
"Landlord and Tenant are parties to that certain Office Lease Agreement dated February 29th, 2012 (the"Lease"), the First Amendment dated January 10, 2014 (the “ First Amendment ”), and the Second Amendment dated January 31 st , 2014 (the “ Second Amendment ).Collectively, the Lease, First Amendment and Second Amendment are referred to herein as the “ Lease ”. Pursuant to the Lease, Landlord has leased to Tenant (i) space currently containing approximately 30,174 rentable square feet as set forth on EXHIBIT A to the Lease (the "Premises") on the second floor of the building, known as suites 2020, 2044, 2055, 2069 and 2070, located at 149 Commonwealth Dr., Menlo Park, CA 94025 (the "Building"
Please refer to the 8-K filling considering the recent Public Offer and additional shares that have been added. There are now another 25.75 million shares as of Jan 2014 in total, the last 3.375 mil tranche closed earlier this week. SP is gaining in value although dilution has kept a lid on it. SP would be at $6.04 without the PO. Should go up from here.
"On January 30, 2014, Geron Corporation entered into an underwriting agreement with Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representative of the several underwriters relating to an underwritten public offering, for the issuance and sale of 22,500,000 shares of the Company's common stock, par value $0.001 per share. The price to the public in this offering is $4.00 per share, and the Underwriters have agreed to purchase the shares from the Company pursuant to the Underwriting Agreement at a price of $3.76 per share. The estimated gross public offering proceeds will be approximately $90 million. The Company expects the net proceeds from the sale of the Shares to be approximately $84 million, after deducting the underwriting discount and estimated offering expenses payable by Geron. The offering is expected to close on or about February 4, 2014, subject to customary closing conditions contained in the Underwriting Agreement. In addition, the Company granted to the Underwriters under the terms of the Underwriting Agreement, an option, exercisable for 30 days, to purchase up to an additional 3,375,000 shares of its common stock"
Geron Corporation plunged -6.03% on Monday Mar 3/14 after the company reported the closing of its formerly reported public offering of 22,500,000 shares of its common stock, as well as 3,375,000 additional shares of its common stock pursuant to the full exercise of the underwriters option to purchase additional shares. Now that all the 25.875mil PO dilution is behind us it's full steam ahead. The additional 3.375 million shares bodes well for the high demand on this issue although Chippy should have held out for less shares at a higher price. Same return less shares and could have better protected SP evaluation. With the small amount of shares he holds he's obviously not very sensitive to dilutive actions on shareholders.
...do you need a beaver for your pond? I can clean up twigs and stuff?
GERN the next GOOGLE?...maybe through google colored glasses. It does have a nice ring.
more appropriate phrase might be lawyer impacted...Maine can fill in the rest.
Why would it be highly unlikely? What other MF drug do you know of could produce a" remarkable recovery"?
and we all know that if he was on Jak Tom wouldn't be making a "remarkable recovery"...it only treats symptoms such as spleen enlargement
Most experimental drug studies have non-disclosure agreements, especially when they are comparative studies with existing drug treatments. Makes for a sticky situation, but Brokaw's wife could pipe up. This reminds me of the movie Dallas Buyers Club...where because of FDA restrictions and established pharma, newer better safer drugs were willfully held back by govt. authorities.
Perhaps the fact that Tom Browkaw didn't endorse Imetelstat publically during the Letterman interview(even though he wouldn't be @ the interview had it not been for Imetelstat) triggered a brokerage induced HF trading sell off triggering stop loses and more retail sellers to jump ship bfr. earnings. Always a technical sell bfr. earnings even though this is a purely spec play at this point.
WS is in it to make fireworks with this equity. One to two points would hardly suffice their appetite on a major cancer therapy breakthrough. A lid's been on this ever since the Nov. CR data leak bfr ASH. Expect a Stoch sendoff followed by an Incyte invasion.