BioTime completed its merger with Asterias on 3/11/2019 for BioTime stock. About 3 months later BioTime changed its name to Lineage Cell Therapeutics and its ticker symbol to LCTX.
The SEC filing for this merger can be found through the new web site at:
https://investor.lineagecell.com/static-files/4e772ab6-89da-4a50-92b3-ac4bef324a37. The tax consequences are described starting on page 111.
This is a stnadard merger. The information below is based on the information available from a form S-4/A filed with the SEC. Price information is from websites offering historical prices.
Due to the name and ticker symbol change of BioTime it may be better to use another merger transaction to reflect the name and ticker symbol change for BioTime. While historical prices generally follow the new ticker symbol for a name and ticker symbol change we received a report that this did not happen for a recent name and ticker symbol change. To ensure historical prices in your records for BioTime do not change, we recommend the merger transaction for name and ticker symbol changes.
Asterias Shareholders
For Asterias shareholders this is a simple merger transaction
The Merger Entry
Go to Transactions > Merger or Accounting > Securities > Record merger of securities depending on the version of the software being used. If you are unfamiliar with merger transactions you can get help at this URL: https://www.iclub.com/support/kb/default.asp?page=normal_merger
Here is the information you need to complete the merger.
Date: 3/11/2019
Old Security or Merging Company: Asterias (AST)
Price per share of old Security / AST: Use last valuation, if needed
Cash received: See your broker statement for cash-in-lieu
New Security: BioTime (BTX)
New Security Price: 1.33 (Opening price on 3/11/2019)
Shares received : .71 x (#of AST shares owned).
(Remember to include fractional shares.)
For example, if you owned 100 AST shares, you should receive .71 x 100 = 71 BTX shares.
Save the transaction and the merger has been entered.
The Merger Entry to Change Name and Ticker Symbol of BioTime
This is for all BioTime shareholders holding shares on 8/31/2019
Here is the information you need to complete the merger.
Date: 8/31/2019
Old Security or Merging Company: BioTime (BTX)
Price per share of old Security / BTX: Use last valuation, if needed
Cash received: See your broker statement for cash-in-lieu
New Security: Lineage Cell Therapeutics (LCTX)
New Security Price: .945 (Opening price on 9/3/2019, the first trading day after name change)
Shares received : 1 x (#of BTX shares owned).
(Remember to include fractional shares, if appropriate.)
For example, if you owned 100 BTX shares, you should receive 1 x 100 = 100 LCTX shares.
Save the transaction and the merger has been entered changing the name and ticker symbol of BioTime (BTX) to Lineage Cell Therapeutics (LCTX).
Note: By using the merger transaction to cause the name and ticker symbol change, the return calculations for the return figures on the Valuation Statement for LCTX will begin on the merger date. The returns reported will reflect how LCTX performed since the name change. They will not reflect how LCTX performed from the first acquisition date of BioTime.
