Asterias Biotherapeutics (OTC: ASTY) is in The StockGuru Spotlight for Wednesday, September 9, 2014.
- Shares for ASTY are up right now about ten percent.
- Volume is over $2.05 MILLION dollars or 305k shares.
The Latest News for ASTY:
Asterias Biotherapeutics Announces Record Date for Distribution of BioTime Warrants to Holders of Asterias Series A Common Stock
Asterias Biotherapeutics, Inc. (OTCBB: ASTY) announced today that its Board of Directors has set Monday, September 15, 2014 as the record date (the “Record Date”) for determining holders of its Series A common stock entitled to receive BioTime, Inc. common share purchase warrants in Asterias’ previously announced warrant distribution.
Asterias plans to distribute, on a pro rata basis, warrants to purchase 8,000,000 BioTime common shares at an exercise price of $5.00 per share to holders of 6,537,779 shares of Asterias Series A common stock. Each shareholder of record as of the Record Date will receive approximately 1.223657 BioTime warrants for each share of Asterias Series A common stock owned. The warrants will expire on October 1, 2018.
No fractional warrants will be issued and no cash in lieu of fractional warrants will be distributed. Instead, the number of BioTime warrants distributable to each shareholder will be based on the total number of shares of Series A common stock that the shareholder owns, and any fractional BioTime warrant remaining will be disregarded.
“The anticipated distribution of the BioTime warrants provides immediate, near-term value to Asterias shareholders while Asterias pursues clinical development of our promising therapeutic products that have the potential to address significant unmet medical needs using our stem cell technology platform,” stated Pedro Lichtinger, President and CEO of Asterias.