Asterias is a member of the BioTime (NYSE MKT:BTX) family of companies.
Distribution of Series A Common Stock
As previously announced, 6,537,779 shares of Asterias Series A common stock will be distributed by Geron Corporation to its stockholders, on a pro rata basis (the "Series A Distribution"), subject to applicable legal requirements and certain other limitations, under the terms of an Asset Contribution Agreement among Asterias, BioTime, Inc., and Geron. Fractional shares will be aggregated and sold for cash, and the net cash proceeds of the sale will be distributed ratably to Geron stockholders who would otherwise be entitled to receive fractional shares. Also, in lieu of Geron distributing the Series A common stock in jurisdictions where it would be unlawful to do so, and in certain other excluded jurisdictions, the shares of Series A common stock that Geron stockholders who reside in those jurisdictions would otherwise be entitled to receive will instead be sold for cash, and the net cash proceeds will be distributed ratably to those stockholders.
Geron has announced that it has set May 28, 2014 as the Record Date for determining Geron stockholders entitled to receive shares of Asterias Series A common stock (or cash in lieu of shares). Based on the 156,924,100 shares of Geron common stock reported by Geron as being outstanding on the Record Date, each Geron stockholder will be entitled to receive one share of Asterias Series A common stock for approximately every 24 shares of Geron common stock owned. The Nasdaq Stock Market, where Geron common stock is traded, has established July 22, 2014 as the ex-dividend date for Geron's distribution of the Asterias Series A common stock. The Series A Distribution is expected to commen
|SOURCE Asterias Biotherapeutics, Inc.|
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