BioTime's Board of Directors Makes Decisions About Subsidiary OncoCyte

BioTime, Inc. (NYSE MKT and TASE: BTX) announced that its Board of Directors made decisions about the company’s subsidiary OncoCyte Corporation. This includes setting the record date, the distribution ratio, and expected distribution date for the distribution of a portion of the shares of common stock of OncoCyte to BioTime shareholders.

According to the press release:
The record date for determining holders of BioTime common shares entitled to receive shares of OncoCyte common stock in the distribution will be the close of business on December 21, 2015.
BioTime shareholders will receive one share of OncoCyte common stock for every 20 BioTime common shares held as of the close of business on the record date. The distribution will be made in book-entry form. BioTime expects the distribution to occur on December 31, 2015. BioTime shareholders will not be required to do anything to receive the OncoCyte distribution, meaning that they will not have to surrender or exchange BioTime common shares in order to receive their OncoCyte shares.
Any holder of record who sells their shares of BioTime on or before the distribution date of December 31st will be selling their entitlement of OncoCyte shares to the buyer of their BioTime shares. Holders are encouraged to talk to their financial advisor before selling their shares of BioTime.

Click here to read the full press release.