Navigation Links
Cell Therapeutics, Inc. Announces Closing of Registered Offering of $30 Million of Preferred Stock and Warrants
Date:8/21/2009

SEATTLE, Aug. 21 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) (the "Company") today announced the closing of its previously announced sale of $30 million of shares of its Series 2 Preferred Stock and warrants to purchase shares of its common stock in a registered offering to a single institutional investor. The investor has elected to convert all of its shares of Series 2 Preferred Stock and to receive the 18,853,103 shares of the Company's common stock issuable upon such conversion at the closing.

The Company received approximately $28.2 million in net proceeds from the offering, after deducting placement agent fees and estimated offering expenses.

In connection with the offering, the investor received warrants to purchase up to 4,713,276 shares of common stock. The warrants have an exercise price of $1.70 per warrant share, for total potential additional proceeds to the Company of approximately $8.0 million upon exercise of the warrants. The warrants are exercisable immediately upon their date of issuance and will expire nine months thereafter.

Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the offering.

A shelf registration statement relating to the shares of Series 2 Preferred Stock and warrants issued in the offering (and the shares of common stock issuable upon conversion of the Series 2 Preferred Stock and exercise of the warrants) has been filed with the Securities and Exchange Commission (the "SEC"). The shelf registration statement was automatically effective upon filing with the SEC. A prospectus supplement relating to the offering has also been filed with the SEC. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from the Company by contacting the Company at the following address: Cell Therapeutics, Inc., 501 Elliott Avenue West, Suite 400, Seattle, Washington 98119. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of our shares of Series 2 Preferred Stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading prices of the Company's securities. The risks and uncertainties include the risk that the investors might not exercise their warrants, the Company might not be able to continue to raise additional capital as needed to fund its operations, the Company's intentions regarding the use of proceeds, and other risk factors listed or described from time to time in the Company's filings with the SEC, including, without limitation, its most recent filings on Forms 10-K, 10-Q and 8-K. Except as required by law, the Company does not intend to update any of the statements in this press release upon further developments.

    Media Contact:

    Dan Eramian
    T: 206.272.4343
    C: 206.854.1200
    E: media@ctiseattle.com
    www.CellTherapeutics.com/press_room

    Investors Contact:

    Ed Bell
    T: 206.272.4345

    Lindsey Jesch Logan
    T: 206.272.4347
    F: 206.272.4434
    E: invest@ctiseattle.com
    www.CellTherapeutics.com/investors


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Cell Therapeutics, Inc. Announces Institutional Investor Purchases $30 Million of Preferred Stock and Warrants
2. Oxygen Biotherapeutics, Inc. Files 10-K for Fiscal Year Ended April 30, 2009
3. Nile Therapeutics, Inc. Announces Dosing of First Patient in Phase 2 Study of CD-NP for the Treatment of Acute Heart Failure
4. Cell Therapeutics, Inc. Announces Exercise of Overallotment
5. Cell Therapeutics, Inc. Announces Pricing of Public Offering of Common Stock and Warrants
6. Nile Therapeutics, Inc. Completes $3.4 Million Private Placement
7. Oxygen Biotherapeutics, Inc. Announces Closing of Private Placement Financing Agreement
8. Nile Therapeutics, Inc. To Raise $3.4 Million in Private Placement
9. Intarcia Therapeutics, Inc. Presents ITCA 650 Phase 1b Study Results as a Late-Breaker at the American Diabetes Association 69th Scientific Sessions
10. Intarcia Therapeutics, Inc. Announces Acceptance of ITCA 650 Phase 1b Study for Late-Breaker Presentation at the American Diabetes Association 69th Scientific Sessions
11. Prospect Therapeutics, Inc.s GCS-100 Inhibited Blood Vessel Formation in a Variety of Cancer Models
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... ANN ARBOR, Mich. , Dec. 7, 2016 ... breakthrough immune modulatory medicines, announced today the initiation of ... therapeutic candidate, LYC-30937- E nteric C oated, in ... disease that is estimated to affect as many as ... , with approximately 1.5 - 3 million cases being ...
(Date:12/7/2016)... (PRWEB) , ... December 07, 2016 , ... ... digital pathology, announced today a new service to enable rapid migration of large ... upload has remained one of the factors limiting adoption of digital pathology. Proscia’s ...
(Date:12/7/2016)... Woods Hole, Massachusetts (PRWEB) , ... December 07, 2016 , ... Kara Dwyer Dodge grew ... 1966, Richard Dwyer, a third-generation fisherman in Scituate, Mass., found a sea turtle entangled in ... to shore, where the turtle became a minor sensation because no one could remember ever ...
(Date:12/6/2016)... ... December 06, 2016 , ... ... privately-held contract pharmaceutical development and manufacturing organisation, today announced the formation ... combining a leading CRO and the industry’s only Contract Commercial Organization (CCO). ...
Breaking Biology Technology:
(Date:11/19/2016)... , Nov. 18, 2016 Securus Technologies, a ... for public safety, investigation, corrections and monitoring, announced today ... competitor, ICSolutions, to have an independent technology judge determine ... most modern high tech/sophisticated telephone calling platform, and the ... that they do most of what we do – ...
(Date:11/15/2016)... , Nov. 15, 2016  Synthetic Biologics, Inc. ... therapeutics focused on the gut microbiome, today announced ... 25,000,000 shares of its common stock and warrants ... at a price to the public of $1.00 ... Synthetic Biologics from the offering, excluding the proceeds, ...
(Date:6/27/2016)... Research and Markets has announced the addition of the ... The report forecasts the biometrics ... a CAGR of 12.28% during the period 2016-2020. ... with inputs from industry experts. The report covers the market landscape ... includes a discussion of the key vendors operating in this market. ...
Breaking Biology News(10 mins):