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Asterias Biotherapeutics Announces Intention to Distribute 3.15 Million Warrants
Feb. 17, 2016 09:59AM PST
Biotech Investing
Asterias Biotherapeutics, Inc. (NYSEMKT:AST) simplified its capital structure through the previously announced Asset Swap with BioTime, Inc. In conjunction with the Asset Swap, Asterias also announced its intention, at its discrestion, to distribute the 3.15 million warrants to purchase common shares of Asterias received pursuant to the Asset Swap to Asterias shareholders on terms to be determined by its Board of Directors.
Asterias Biotherapeutics, Inc. (NYSEMKT:AST) simplified its capital structure through the previously announced Asset Swap with BioTime, Inc. In conjunction with the Asset Swap, Asterias also announced its intention, at its discrestion, to distribute the 3.15 million warrants to purchase common shares of Asterias received pursuant to the Asset Swap to Asterias shareholders on terms to be determined by its Board of Directors.
According to Pedro Lichtinger, President and CEO of Asterias:
After the upcoming distribution, if the holders exercise their warrants, we believe Asterias will have the cash it needs to fund operations for at least the next 12 months. In addition, BioTime’s ownership of Asterias would be reduced from 58% to 54%.