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.