Lineage Cell Therapeutics Inc (LCTX)

[bobby2loaves]

AGE Spinoff / Now I'm Confused Again

So this is the verbiage from the Form 10 on the AGE spinoff:

"You will receive one share of AgeX common stock for every ______ BioTime common shares you hold as of 5:00 p.m., New York City time, on July 31, 2018, the “Record Date” of the Distribution. If you sell your BioTime common shares after the record date and before the date of the Distribution, you will also be selling your right to receive shares of AgeX common stock in the Distribution. The Distribution will be made only in book-entry form. We expect the Distribution to occur at ______, New York City time, on or about _______, 2018, which we refer to as the “Distribution Date.”

Here's my question: what if someone sells their BTX shares after 7/31, but before the distribution of AGE shares? Does the buyer get the AGE spinoff shares transferred to them? (That would be straightforward) Or do the AGE spinoff shares just disappear? (That would be a mess, with BTX share price dropping Weds 8/1, and only fools selling BTX before the distribution, with volume dwindling to almost nothing in the interim.)