BioTime closes $20.1-million offering

BioTime (NYSE MKT, TASE:BTX) has closed a public offering of 7,453,704 common shares, including 972,222 shares in connection with the exercise in full of an underwriters’ over allotment option, at a price of $2.70 a share for gross proceeds of about $20.1-million.

Net proceeds will be used for general corporate purposes, including funding clinical trials, R&D and for general working capital.

Raymond James & Associates acted as the sole book-running manager for the offering.