BTX Biotime Inc.

BioTime, Inc. Announces Proposed Public Offering of Common Stock



BioTime, Inc. (“BioTime”) (NYSE American and TASE: BTX), a late stage
clinical biotechnology company focused on developing and commercializing
products addressing degenerative diseases, today announced its intent to
offer to sell shares of its common stock in an underwritten public
offering. BioTime intends to grant the underwriters a 30-day option to
purchase up to an aggregate of an additional 15% of the shares of its
common stock offered in the public offering to cover over-allotments, if
any. 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.



BioTime intends to use the net proceeds from the offering for general
corporate purposes, including, without limitation, to fund clinical
trials of products it is developing, to finance its research and
development programs, and for working capital.



The shares will be issued pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-217182) that was previously filed by
BioTime with the Securities and Exchange Commission (the “SEC”) and was
declared effective on May 5, 2017. The shares may be offered only by
means of a prospectus. A preliminary prospectus supplement and the
related base prospectus will be filed with the SEC and will be available
for free on the SEC’s website at http://www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to the offering, when available, may be obtained
from: Raymond James & Associates, Inc., Attention: Equity Syndicate, 880
Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at
(800) 248-8863, or e-mail at prospectus@raymondjames.com.



This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.



About BioTime, Inc.



BioTime is a late stage clinical biotechnology company focused on
developing and commercializing products addressing degenerative
diseases. The Company’s current clinical programs are targeting three
primary sectors: aesthetics, ophthalmology and cell and drug delivery.



Forward-Looking Statements



Certain statements contained in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that statements in this
press release regarding the intention, completion, timing and option
relating to the proposed public offering constitute forward-looking
statements that involve risks and uncertainties, including, without
limitation, risks and uncertainties related to market conditions and the
satisfaction of customary closing conditions related to the proposed
public offering. There can be no assurance that BioTime will be able to
complete the proposed public offering. Additional information on risks
facing BioTime, its subsidiaries and its affiliates can be found in the
“Risk Factors” section of its Annual Reports on Form 10-K and Quarterly
Reports on Form 10-Q filed with the Securities and Exchange Commission
(the “SEC”) and in the preliminary prospectus supplement related to the
proposed offering to be filed with the SEC on or about the date hereof
(copies of which may be obtained at www.sec.gov).
Subsequent events and developments may cause these forward-looking
statements to change. BioTime specifically disclaims any obligation or
intention to update or revise these forward-looking statements as a
result of changed events or circumstances that occur after the date of
this release, except as required by applicable law.




12/10/2017
0 pages
EN

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Consumer Non-Cyclical - United States
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