Boston, MA 10/10/2014 (wallstreetpr) – According to reports, BioTime, Inc. (NYSEMKT:BTX) announced that it recently closed equity financing worth $31 million. As per the information, it first came with such financing on October 3, 2014. BTX received total $29.42 million through this financing, while a few subsidiaries also disclosed that they received $1.6 million through selling of BTX common shares.
Insights of the offerings:
The total proceedings received by BioTime, Inc. (NYSEMKT:BTX) are expected to be used by the company and its subsidiaries in various research and development programs. If anything is left after financing all the R&D activities, then it will be used for general working capital purposes. BTX may also look to invest a part of these proceedings for the developmental activities of its subsidiaries. All the common shares sold by the company were executed under registered direct offering. The prospectus of this offering was dated as of October 3, 2014. BTX has already filed it with United States Security and Exchange Commission.
BioTime, Inc. (NYSEMKT:BTX) is a biotechnology company and known for offering world-class and in-depth research and development activities for product development and research work in regenerative medicine field. Regenerative medicines refer to all those therapies that are fully or partly based on stem cell technology. These therapies are used for reproducing or regenerating those cells that are damaged or lost due to any injury or degenerative diseases. BTX also focuses on pluripotent stem cell technology that works on the basis of human embryonic stem cells. As per the information, both induced pluripotent stem cells and embryonic stem cells play a vital role during the cell manufacturing process.
Management of BioTime, Inc. (NYSEMKT:BTX) is thrilled with the fast response given by all the investors towards this equity financing. It expects to improve R&D activities in the near future followed by better offerings to all the customers.
