February 9, 2017 8:13pm
BTX had closed FLAT on Thursday at $3.01 and is trading DOWN -$0.25 or -8.31% to $2.76 on Friday am - SELL
10% discount ... with possible $18.5 M of proceeds
BTX announced its intent to offer to sell shares of its common stock in an underwritten public offering.
BioTime, Inc. also expects to grant to the underwriters for the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering.
The offering is subject to market, regulatory and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Raymond James & Associates, Inc. will act as the sole book-running manager for the offering.
The Bottom Line: The capital access window is open – many will jump but, where will they land in the cold dark river, a splat on a sidewalk or months in the depreciation ward? Depreciation and discounts have taken their toll in the recent two offerings – Athersys (ATHX) and Biostage (BSTG).
As I had staed, SELL before the hit.