Message #5 From:
NewsBot Date: November 29, 2005 07:02:00 AM
BTIM News BioTime Amends Terms of Subscription Rights Offer
EMERYVILLE, Calif.--(BUSINESS WIRE)--Nov. 29, 2005--BioTime, Inc. (OTCBB:BTIM) today announced that it has amended the terms of its subscription rights offer by reducing the subscription price and by increasing the number of units that shareholders may purchase through the exercise of their subscription rights. Under the amended terms of the rights offer, holders of rights will be entitled to purchase one unit for every four rights owned at a subscription price of $0.40 per unit. The number of units that will be available to fill excess over-subscriptions has been reduced from 1,787,145 to 893,572 units. BioTime has also extended the expiration date of the rights offer to December 21, 2005. The Guarantors named in BioTime's prospectus have agreed to purchase units that remain unsold at the conclusion of the rights offer, excluding units reserved to fill over-subscriptions. The purchase obligation of the Guarantors remains $1,787,145.
Properly completed and executed subscription certificates or a properly completed notice of guaranteed delivery accompanied by the subscription price must be received by the subscription agent, American Stock Transfer & Trust Company, by the new expiration date to be valid. The subscription agent will not honor a notice of guaranteed delivery unless a properly completed and executed subscription certificate for the units subscribed is received by the subscription agent by the close of business on December 27, 2005, the third business day after the new expiration date.
Subscription certificates and notices of guaranteed delivery should be delivered to the subscription agent by one of the following means:
(1) By hand:
American Stock Transfer & Trust Company
Attn: Reorganization Department
59 Maiden Lane, Plaza Level
New York, New York 10038
(2) By mail, express mail or overnight courier:
American Stock Transfer & Trust Company
Operations Center
Attn: Reorganization Department
6201 15th Avenue
Brooklyn, New York 11219
(3) By facsimile (telecopier):
(718) 234-5001
You should confirm that your facsimile has been received by contacting the subscription agent by telephone at 1-877-248-6417, or outside the United States, (718) 921-8317 and ask for Shareholder Relations. If you deliver your subscription certificate by telecopier, you must send the original subscription certificate to the subscription agent by mail or hand delivery.
We suggest that you send the subscription funds by wire transfer to American Stock Transfer & Trust Company, Subscription Agent, JP Morgan Chase Bank WIRE CLEARING ACCOUNT ABA #021000021, Account 323-212069, Attention: Reorg. Dept.
Do not send subscription certificates, notices of guaranteed delivery, or subscription funds to BioTime.
BioTime, headquartered in Berkeley, California develops blood plasma volume expanders, blood replacement solutions for hypothermic (low temperature) surgery, organ preservation solutions and technology for use in surgery, emergency trauma treatment, and other applications. Information about BioTime can be found on the web at www.biotimeinc.com.
