Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

BioTime has issued warrants to purchase its common shares. Activity related to warrants in 2016 and 2015 is presented in the table below (in thousands, except price per share):

	Number of Warrant Shares			Per Share Exercise Price		Weighted Average Exercise Price
Outstanding, January 1, 2014		9,752		$	5.00-10.00	$	5.29
Exercised in 2014		(557	)		10.00		10.00
Outstanding, December 31, 2014		9,195		$	5.00	$	5.00
Exercised in 2015		(4	)		5.00		5.00
Warrant adjustment⁽¹⁾		919
Outstanding, December 31, 2015		10,110		$	4.55	$	4.55
Expired in 2016		(715	)		4.55		4.55
Outstanding, December 31, 2016⁽²⁾		9,395		$	4.55	$	4.55

(1)

The number of shares issuable upon the exercise of the warrants was adjusted as a result of the distribution of OncoCyte common stock to BioTime shareholders during December 2015.

(2)

The 9,394,862 outstanding warrants will expire, if unexercised, beginning June 5, 2018 through September 30, 2018.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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