BioTime Raises Over $7.3 Million in Rights Offer; Announces That Rights Offer was Heavily Over-Subscribed.BERKELEY, Calif.--(BW HealthWire)--March 11, 1999--BioTime, Inc. (Nasdaq:BTIM), announced that it had successfully completed its rights offer, raising approximately $7.3 million through the sale of 751,654 shares, which includes 250,000 shares that BioTime made available to fill over-subscriptions. Because the rights offer was heavily over-subscribed, the shares available to fill over-subscriptions will be allocated on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis. "We are extremely gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the enthusiasm with which our shareholders greeted our rights offer," Dr. Paul Segall, BioTime's Chairman and Chief Executive Officer, stated. "We see the large over-subscription as a sign of their confidence in BioTime's future." BioTime, headquartered in Berkeley, is engaged in the research and development of blood plasma blood plasma n. The yellow or gray-yellow, protein-containing fluid portion of blood in which the blood cells and platelets are normally suspended. volume expanders, blood replacement solutions during hypothermic hy·po·ther·mi·a n. Abnormally low body temperature. [hypo- + Greek therm (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment, the preservation of organs awaiting transplant transplant or graft Partial or complete organ or other body part removed from one site and attached at another. It may come from the same or a different person or an animal. One from the same person—most often a skin graft—is not rejected. , and other applications. |
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