BioTime, Inc. (BTIM.OB) Monday said that two of its shareholders completed the funding of the second tranche of their equity investments in BioTime following the exercise of their rights to purchase additional shares and warrants under the terms of their May 2009 stock and warrant purchase agreements. Broadwood Partners, L.P. and George Karfunkel have each purchased an additional 1.10 million BioTime common shares and 1.10 million stock purchase warrants. BioTime received $4 million from the sale of the additional shares and warrants. The warrants, which are substantially the same as BioTime's publicly traded stock purchase warrants, entitle the investors to purchase additional common shares at an exercise price of $2.00 per share. The warrants would expire on October 31, 2010 and may not be exercised after that date.
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