Navigation Links
Cell Therapeutics, Inc. Sells $64.5 million Units Consisting of Preferred Stock, New 2014 Convertible Senior Notes and Warrants to a Single Institutional Investor
Date:4/30/2008

Transaction also provides the Company and investor an option to sell or

purchase additional $67.5 million in securities

SEATTLE, April 30 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. ("CTI" or the "Company") (Nasdaq: CTIC; MTA) today announced that it has entered into agreements to sell units of securities for approximately $64.5 million, including new Series E Convertible Preferred Stock (the "Preferred Stock"), 13.5% Convertible Senior Notes due 2014 (the "Notes") and warrants to purchase shares of common stock, no par value (the "Common Stock") to a single institutional investor. The aggregate price per unit was $0.3475 cents above the closing bid of $0.79 per share or $1.14 per unit. Also included is a one- year right for such investor to purchase up to $67.5 million of such securities in the future.

The 9,000 shares of Preferred Stock are convertible into 11,392,405 shares of Common Stock. The Preferred Stock, representing $9 million in stated value, can also be exchanged by such investor after 30 days into Notes. The $36 million initial principal amount of Notes bear interest at 13.5% per annum and are convertible at any time for shares of CTI common stock. The Notes feature a make-whole provision upon conversion entitling the holder to receive a fixed amount, less any interest paid before conversion. The Company expects to receive net proceeds of approximately $28.125 million from the initial closing of the offering. The Notes will rank equal in right of payment with all existing and future unsecured senior indebtedness of CTI.

The investor will also receive warrants to purchase 28.4 million shares of common stock with an exercise price of $0.95 per share (equal to 120% of today's closing bid
'/>"/>

SOURCE Cell Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. CardioVascular BioTherapeutics, Inc. Funding Wound Healing Trial with R&D Partnership
2. CardioVascular BioTherapeutics, Inc. Announces Update on Timing of Form 10-K Filing
3. Cell Therapeutics, Inc. Announces Receipt of Letter From the NASDAQ Stock Market Regarding Non-Compliance With the Minimum Bid Price Requirement
4. Cell Therapeutics, Inc. Announces Filing of Form 10-K
5. Blake M. Paterson MD, CEO and Co-founder of Alba Therapeutics, Wins Greater Baltimore Committee 2008 Leadership in Bioscience Award
6. Cell Therapeutics, Inc. (CTI) Invest Northwest Presentation to be Webcast
7. Mercury Therapeutics, Inc: Marquant Appointed to Advise on Strategic and Partnering Opportunities
8. Mercury Therapeutics, Inc: Lead Series of Indirect AMPK Activators Licensed to Makoto Life Sciences
9. Cell Therapeutics, Inc. (CTI) to Present at 7th Annual WBBA Invest Northwest Conference
10. Cell Therapeutics, Inc. (CTI) to Report Fourth Quarter and Year-End Financial Results on March 13
11. Cell Therapeutics, Inc. to Hold Conference Call to Update on Recent Transactions and Upcoming Milestones
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/25/2014)... 2014 Today, Nerium International, a leader ... of its “Reflect Your Youth” contest, an effort launched ... a difference in their skin since using Nerium’s product ... on life as a result of their newfound confidence. ... effort by Nerium International to inspire conversations focused on ...
(Date:10/25/2014)... , October 24, 2014 Oramed ... pharmaceutical company focused on the development of oral drug ... Nadav Kidron will present at FireRock Capital,s Micro-Cap ... Annual Micro-Cap Conference ,Date: Tuesday, October 28, 2014 ,Time: ... New York City , ...
(Date:10/25/2014)... 24, 2014 Research and Markets ... by Product , Research Area & by End User ... offering. In this report, the global ... research areas, and end users. The product segments of ... instruments & consumables, kits, and reagents. The subsegments of ...
(Date:10/22/2014)... BOSTON , Oct. 22, 2014  Actavis plc ... pharmaceutical company, and Rhythm, a biopharmaceutical company, today announced ... acquire Rhythm,s wholly owned subsidiary, Rhythm Health, Inc., which ... the treatment of diabetic gastroparesis and other GI functional ... Phase 2 trial of relamorelin for the treatment of ...
Breaking Biology Technology:Nerium International™ Inspires Conversation About the Journey of Aging with “Reflect Your Youth” Contest 2Oramed to Present at the FireRock Annual Micro-Cap Conference 2Oramed to Present at the FireRock Annual Micro-Cap Conference 3Global Epigenetics (VLA, WBA, NBA, RTA, Rotary-Wing Aircraft) Market - Forecast to 2019 2Global Epigenetics (VLA, WBA, NBA, RTA, Rotary-Wing Aircraft) Market - Forecast to 2019 3Actavis Signs Option to Acquire Rhythm Subsidiary and its GI Development Product, Relamorelin 2Actavis Signs Option to Acquire Rhythm Subsidiary and its GI Development Product, Relamorelin 3Actavis Signs Option to Acquire Rhythm Subsidiary and its GI Development Product, Relamorelin 4Actavis Signs Option to Acquire Rhythm Subsidiary and its GI Development Product, Relamorelin 5
... launch of a new series of web-based training programs for professionals ... courses are one hour in duration and designed specifically for the ... ... Salt Lake City, Utah (PRWEB) December 11, 2008 -- ...
... Schering-Plough Corporation (NYSE: SGP ) today declared a quarterly ... made on Feb. 27, 2009, to shareholders of record at the ... 30, 2008, there were 1,626,234,628 common shares outstanding. , ... declared a quarterly dividend of $3.75 per share on the 2007 ...
... of Hematology Annual Meeting , , ... ACEL ) today announced that American Society of Hematology ... Abstract 4205 & 2008 112: Abstract 4010) report that ONCONASE ... leukemia (CLL) and acute myeloblastic leukemia (AML) cells alone as ...
Cached Biology Technology:McCulley/Cuppan Announced Today The Launch Of A New Series Of Web-Based Training Programs For Professionals In The Biopharmaceutical And Life Science Industries 2McCulley/Cuppan Announced Today The Launch Of A New Series Of Web-Based Training Programs For Professionals In The Biopharmaceutical And Life Science Industries 3Alfacell's ONCONASE(R) and R-Amphinase Show Anti-Tumor Activity in Chronic Lymphocytic Leukemia and Acute Myeloblastic Leukemia Cells 2Alfacell's ONCONASE(R) and R-Amphinase Show Anti-Tumor Activity in Chronic Lymphocytic Leukemia and Acute Myeloblastic Leukemia Cells 3Alfacell's ONCONASE(R) and R-Amphinase Show Anti-Tumor Activity in Chronic Lymphocytic Leukemia and Acute Myeloblastic Leukemia Cells 4Alfacell's ONCONASE(R) and R-Amphinase Show Anti-Tumor Activity in Chronic Lymphocytic Leukemia and Acute Myeloblastic Leukemia Cells 5
(Date:10/22/2014)... (NASDAQ: AWRE ), a leading supplier of biometrics ... quarter ended September 30, 2014. Revenue for the ... 40% compared to $4.3 million in the same quarter last ... $4.1 million compared to $1.0 million in the third quarter ... period was primarily due to: i) a $1.0 million increase ...
(Date:10/18/2014)... stress and stress-related psychiatric disorders are associated ... the molecular mechanisms underlying this relation are ... the development of targeted preventive strategies and ... diseases. This work is presented at the ... Now an international group of researchers from ...
(Date:10/18/2014)... suspected genetic conditions, a certain type of exome sequencing ... than traditional molecular diagnostic methods, according to a study ... released to coincide with the American Society of Human ... protein­coding region of the genome (the complete set of ... organism), has been rapidly applied in research settings and ...
Breaking Biology News(10 mins):Aware, Inc. Reports Third Quarter 2014 Financial Results 2Aware, Inc. Reports Third Quarter 2014 Financial Results 3Aware, Inc. Reports Third Quarter 2014 Financial Results 4Aware, Inc. Reports Third Quarter 2014 Financial Results 5Aware, Inc. Reports Third Quarter 2014 Financial Results 6Aware, Inc. Reports Third Quarter 2014 Financial Results 7Researchers find why depression and aging linked to increased disease risk 2Study examines type of exome sequencing and molecular diagnostic yield 2Study examines type of exome sequencing and molecular diagnostic yield 3
... CAFebruary 23, 2014The power of regenerative medicine now allows ... resemble heart cells, pancreas cells and even neurons. However, ... crucial prerequisite for life-saving therapieshas proven far more difficult. ... University of California, San Francisco (UCSF), have made an ...
... New Rochelle, NY, February 20, 2014A new era of manufacturing ... manufacturing technologies are set to usher in the next generation ... of this groundbreaking new technology, Mary Ann Liebert, Inc., publishers ... new peer-reviewed journal 3D Printing and Additive Manufacturing ...
... [Brown University] Here are two facts that make ... ecology research, and they are very sensitive to temperature. ... a bellwether community of two barnacle species in Chile ... these two species if they experimentally changed temperature. In ...
Cached Biology News:Scientists transform skin cells into functioning liver cells 2Scientists transform skin cells into functioning liver cells 33-D Printing and Additive Manufacturing: Preview issue of groundbreaking peer-reviewed journal now available 2Temperature and ecology: Rival Chilean barnacles keep competition cool 2Temperature and ecology: Rival Chilean barnacles keep competition cool 3
A compact, high-speed single tube reader unit designed for benchtop 2D barcode reading. The unit can be used with all of ABgene's 2D barcoded tubes, including the 2ml CryoCode tube....
... PCR carry-over contamination, which prevents false ... products from previous PCR amplifications without ... improves amplification ,Optimized for use with ... instrument systems , The GeneAmp PCR ...
... a-Amylase is an enzyme that catalyzes ... of maltose, maltotriose, and dextrins. The,level ... the human body is of,clinical significance ... including,pancreatitis and diabetes; plant and microbial ...
... Labsystems Wellmix is a high-quality four-place microplate ... The shaking speed is adjustable from 100 ... speed and a small orbit ensure effective ... time is quick and easy to set ...
Biology Products: