Biotime, Inc., and two men who were
leading players in history of Geron Corp. today made a surprise,
public bid for the stem cell assets of their former firm.

Michael West West photo

Tom Okarma AP file photo

“Geron would transfer its stem cell
assets to BAC(a new subsidiary of Biotime headed by Okarma), in
exchange for which you along with the other Geron shareholders would
receive shares of BAC common stock representing approximately 21.4%
of the outstanding BAC capital stock. BioTime would contribute to BAC
the following assets in exchange for the balance of outstanding BAC
capital stock:

• “$40 million in BioTime common
  shares;
• “Warrants to purchase BioTime
  common shares (“BioTime Warrants”);
• “Rights to certain stem cell
  assets of BioTime, and shares of two BioTime subsidiaries engaged in
  the development of therapeutic products from stem cells.”

Source:
http://feedproxy.google.com/~r/blogspot/uqpFc/~3/v1bas6eGZF0/biotime-makes-bid-for-gerons-stem-cell.html