FREMONT, Calif., March 31, 2016 /PRNewswire/ -- Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a biotechnology company focused on the emerging field of regenerative medicine, today announced that its Board of Directors has set the record date for its distribution of 3,320,916 warrants to holders of its Series A common stock excluding BioTime, Inc. The Company has declared the record date for determination of stockholders eligible to participate in the warrant distribution as Monday, April 11, 2016.
Each holder, except for BioTime, the majority shareholder of Asterias, will be issued at no charge one warrant for every five shares of Series A common stock owned as of the record date. Each warrant will provide the right to purchase one share of Series A common stock of Asterias at an exercise price of $5.00 per share until the warrant expiration date of September 30, 2016. No fractional warrants will be distributed pursuant to the warrant distribution. Any fractional warrants issuable pursuant to the warrant distribution resulting from the number of shares owned as of the record date will be eliminated by rounding down to the nearest whole warrant.
The warrants will be transferable, and the Company intends to apply for listing of the warrants on the NYSE MKT under the symbol "ASTWS." The Company expects the warrants to be distributed to shareholders by the tenth business day following the record date.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any offer, solicitation, or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to the registration or qualification of the securities under the securities law of such state or jurisdiction. A shelf registration statement on Form S-3 pursuant to which the warrants and the shares of Series A Common Stock issuable upon the exercise thereof will be issued was filed with the SEC on December 4, 2014 and declared effective on January 22, 2015. The warrant distribution is being made only by means of the preliminary prospectus supplement filed with the SEC on March 31, 2016 and a prospectus supplement to be filed with the SEC together with a base prospectus filed with the registration statement. Copies of the prospectus supplement and base prospectus, which contain further details regarding the warrants offering, will be provided to all stockholders as of the record date.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc. is a leading biotechnology company in the emerging field of regenerative medicine. The company's proprietary cell therapy programs are based on its immunotherapy and pluripotent stem cell platform technologies. Asterias is presently focused on advancing three clinical-stage programs which have the potential to address areas of very high unmet medical need in the fields of oncology and neurology. AST-VAC1 (antigen-presenting autologous dendritic cells) demonstrated promise in a Phase 2 study in acute myelogenous leukemia (AML) and completed a successful end-of-Phase 2 meeting with the FDA in advance of initiating planning for a single pivotal Phase 3 AML study. AST-VAC2 (antigen-presenting allogeneic dendritic cells) represents a second generation, allogeneic immunotherapy. The company's research partner, Cancer Research UK, plans to begin a Phase 1/2 clinical trial of AST-VAC2 in non-small cell lung cancer in 2017. AST-OPC1 (oligodendrocyte progenitor cells) is currently in a Phase 1/2a dose escalation clinical trial in spinal cord injury. Additional information about Asterias can be found at www.asteriasbiotherapeutics.com.
Forward Looking Statements
Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Asterias, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates" and "potential") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials, whether we can obtain regulatory approvals and the timing of such approvals, whether we can attain certain progress and safety milestones required under our grant awards, our need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Asterias, particularly those mentioned in the cautionary statements found in Asterias' filings with the Securities and Exchange Commission. Asterias disclaims any intent or obligation to update these forward-looking statements.
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SOURCE Asterias Biotherapeutics, Inc.