BioTime, Inc. (NYSEAMERICAN: BTX) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets
On November 28, 2018 BioTime completed its previously announced distribution of approximately 12.7 million shares of common stock of AgeX Therapeutics, Inc. (“AgeX”) to BioTime shareholders on a pro rata basis (the “AgeX Distribution”). Regular way trading of AgeX common stock on the NYSE American began on November 29, 2018 under the symbol AGE.
As a result of the AgeX Distribution, BioTime’s ownership of AgeX was reduced from approximately 14.4 million shares, representing 40.2% of the outstanding shares of AgeX common stock, to approximately 1.7 million shares, representing 4.8% of the outstanding AgeX common stock.
BioTime has filed as an exhibit to this Report an unaudited pro forma condensed combined balance sheet of BioTime as of September 30, 2018, derived from its latest unaudited condensed consolidated balance sheet filed in its Quarterly Report on Form 10-Q, and unaudited pro forma condensed combined statements of operations of BioTime for the nine months ended September 30, 2018 and for the year ended December 31, 2017. The unaudited pro forma condensed combined balance sheet as of September 30, 2018 gives effect to the AgeX Distribution as if the AgeX Distribution had occurred on September 30, 2018. As previously disclosed, effective August 30, 2018 and February 17, 2017, BioTime deconsolidated the financial statements of AgeX (the “AgeX Deconsolidation”) and OncoCyte Corporation (the “OncoCyte Deconsolidation”), respectively. The unaudited pro forma condensed combined statements of operations give effect to the AgeX Deconsolidation and the OncoCyte Deconsolidation, as if both the AgeX Deconsolidation and the OncoCyte Deconsolidation had occurred on January 1, 2017.
Item 9.01 – Financial Statements and Exhibits
| (a) | Pro Forma Financial Information |
| (i) | Unaudited Pro Forma Condensed Combined Balance Sheet as at September 30, 2018 |
| (ii) | Unaudited Pro Forma Condensed Combined Statements of Operations for the Nine Months Ended September 30, 2018 |
| (iii) | Unaudited Pro Forma Condensed Combined Statements of Operations for the Year-Ended December 31, 2017 |
| (iv) | Notes to Unaudited Pro Forma Condensed Combined Financial Information |
| Exhibit Number | Description |
| 99.1 | Pro Forma Financial Statements |
BIOTIME INC ExhibitEX-99.1 2 ex99-1.htm Exhibit 99.1 BIOTIME,…To view the full exhibit click here