Lineage Cell Therapeutics Inc (LCTX)

[bobby2loaves]

I kind of backed into these numbers. Juvenescence bought 2mm shares of AGE for $2.50 each for a total of $5mm. That represents 7% of the float, which brings the market cap of AGE to $71mm. BTX owns 80.6% of AGE, which comes to $57.57mm. This is all based on the idea that the market will value AGE at the purchase price paid by Juvenescence, almost certain to be off considerably in one direction or another. When AGE starts trading sometime between 7/31 and 9/30, I expect the first day (and week) of trading will be wild, with the price jumping and falling 10-50% every day. But for now, I'm going with $2.50 a share for AGE.

My analysis leaves BTX without subsidiaries valued at $137mm, about the same as Oncocyte is currently trading. Sounds reasonable to me. Though I'm sure August 1st is going to be an interesting trading day for BTX as well. It *should* drop 21% after BTX is spun off on 7/31. But I suspect that is going to be a volatile day as well.