Louis Navellier’s #1 Stock for 2022

On October 20, the man who recommended Google before anyone else will reveal his #1 stock pick for 2022 — for FREE — ticker symbol and all — in a special presentation.

Wed, October 20 at 4:00PM ET

AgeX Therapeutics News: Why AGE Stock Is Skyrocketing 193% Today

AgeX Therapeutics (NYSEAMERICAN:AGE) stock is soaring higher on Thursday following news of a major stake from Juvenescence.

Image of the AgeX Therapeutics (AGE) website under a magnifying glass.
Source: Pavel Kapysh / Shutterstock.com

A recent filing with the U.S. Securities and Exchange Commission (SEC) reveals that Juvenescence owns a 50% stake in the company. This comes from its combined ownership of 21,239,459 shares of AGE stock. That 50% ownership news is based on AgeX Therapeutics’ 37,686,959 outstanding shares as of Aug. 12, 2020.

The 21 million shares of AGE stock includes 16,447,500 shares that are owned directly. Another 150,000 shares can be acquired via warrants issued from a loan agreement in August 2019. There’s also 2,488,401 shares of the stock that can be acquired from warrants of a new loan issued in September. That same loan also includes 2,153,558 shares of stock that may be issued upon conversion of outstanding amounts.

It’s also worth noting that Juvenescence could increase its stake in AGE stock further. Converting outstanding amounts would result in an additional 5,541,872 shares of AgeX Therapeutics stock for Juvenescence. That would bump its total stake in the company up to 53.7%.

The most recent warrants issued to Juvenescence were on Sept. 15. These warrants are for 588,235 shares of AGE stock at a price of 85 cents per share. That price is based on the stock’s last closing price prior to the drawdown notice. The warrants were issued following a $1 million advance for the company in the form of a new facility.

AGE stock was up 192.6% as of Thursday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/10/agex-therapeutics-news-sends-stock-soaring/.

©2021 InvestorPlace Media, LLC