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:7/10/2014)... UK (PRWEB) July 10, 2014 ... 21st Century Medicine Forum on ‘Commercialising Longevity Research’ ... and entrepreneurs to the London Bioscience Innovation Center ... Research Foundation and Aging Analytics Ltd. The meeting ... investment in translational research for age-related disease, as ...
(Date:7/10/2014)... 2014 Unraveling life’s mysteries can intrigue, ... Archer Family purchased a DNA test to ... up with a lifetime of memories, sharing, and closeness. ... members’ DNA genuinely brought the family closer together. ... into genetic history and prior to taking the ...
(Date:7/10/2014)... Montreal, QC (PRWEB) July 10, 2014 ... comfort and convenience. This rejuvenating device now comes with a ... that develops over time. , The new cup is thinner ... This design works to target rough, thin and uneven surfaces ... original firm cup for a stimulating treatment on areas such ...
(Date:7/10/2014)... 2014 On July 9 Prime ... presented Russia,s first national "Industry" ... Company is developing a unique project called MabNext ... a number of innovative drugs based on monoclonal antibodies ... took place at the International Exhibition "Innoprom 2014" in ...
Breaking Biology Technology:DKV Sponsors Forum on Commercialising Longevity Research; Brings Together Scientists, Investors, Entrepreneurs and Celebrities 2DKV Sponsors Forum on Commercialising Longevity Research; Brings Together Scientists, Investors, Entrepreneurs and Celebrities 3DKV Sponsors Forum on Commercialising Longevity Research; Brings Together Scientists, Investors, Entrepreneurs and Celebrities 4DKV Sponsors Forum on Commercialising Longevity Research; Brings Together Scientists, Investors, Entrepreneurs and Celebrities 5DKV Sponsors Forum on Commercialising Longevity Research; Brings Together Scientists, Investors, Entrepreneurs and Celebrities 6Ancestry DNA Test Reveals a Controversial and Undiscovered Family History 2Ancestry DNA Test Reveals a Controversial and Undiscovered Family History 3Ancestry DNA Test Reveals a Controversial and Undiscovered Family History 4Ancestry DNA Test Reveals a Controversial and Undiscovered Family History 5Introducing a New Bonus Treatment Cup for EvoDerma’s NOOME Anti-Aging Motion 2Dmitry Medvedev Presented BIOCAD the First National "Industry" Award 2
... Aug. 14 Transgenomic, Inc. (the,"Company") (OTC Bulletin Board: ... 30, 2007. The Company,s financial results are,presented in the ... Company reported a net profit of $0.2 million or ... compared to a net loss of $0.4 million or,$0.01 ...
... Genetics, Inc.,(Nasdaq: RGDX ), today reported financial ... "The second quarter of 2007 was very ... public offering in June," said,Kathleen Danenberg, President and ... the recent developments that have since been announced. ...
... Summertime equals fun for a lot of,folks. ... (IBS), typical,summer fare could also mean aggravating their ... for IBS," has more on,what people with IBS ... IBS from,ruining their celebrations. Listen to this ...
Cached Biology Technology:Transgenomic, Inc. Reports Second Quarter 2007 Results 2Transgenomic, Inc. Reports Second Quarter 2007 Results 3Transgenomic, Inc. Reports Second Quarter 2007 Results 4Transgenomic, Inc. Reports Second Quarter 2007 Results 5Transgenomic, Inc. Reports Second Quarter 2007 Results 6Transgenomic, Inc. Reports Second Quarter 2007 Results 7Transgenomic, Inc. Reports Second Quarter 2007 Results 8Response Genetics Reports Second Quarter 2007 Financial Results 2Response Genetics Reports Second Quarter 2007 Financial Results 3Response Genetics Reports Second Quarter 2007 Financial Results 4Response Genetics Reports Second Quarter 2007 Financial Results 5Response Genetics Reports Second Quarter 2007 Financial Results 6Response Genetics Reports Second Quarter 2007 Financial Results 7Response Genetics Reports Second Quarter 2007 Financial Results 8
(Date:7/10/2014)... Florida , July 1, 2014 ... pave way for convenience and improved security: NXT-ID, Inc. (OTCBB: ... (NASDAQ: GOOG ), Apple Inc. (NASDAQ: ... MasterCard Corporation (NYSE: MA) NXT-ID, Inc., (OTCQB: NXTD) a ... pleased to announce that the second series of 30 second ...
(Date:7/10/2014)... 2014 It is a great honor for ... of the world-renowned Thoracic and Cardiovascular surgeon, Mark E ... Dr. Ginsburg, with over 34 years of experience, is ... Good Samaritan Regional Medical Center. Dr. Ginsburg has been ... and is considered an expert in the implantation of ...
(Date:7/10/2014)... -- According to the new market research ... Material (Optical Prism, Pizeoelectric, Capacitive, and Adhesives), Application (Mobile ... Finance), and Geography - Global Trends & Forecasts to ... Sensors Market is projected to cross $14.35 Billion by ... 2014 to 2020. Browse more than 78 ...
Breaking Biology News(10 mins):Advantages for Digital Wallets Eliminate Need to Carry Credit Cards - Large Scale CNBC Ad Campaign for Latest Smart Wallet to Commence July 7th 2Advantages for Digital Wallets Eliminate Need to Carry Credit Cards - Large Scale CNBC Ad Campaign for Latest Smart Wallet to Commence July 7th 3Advantages for Digital Wallets Eliminate Need to Carry Credit Cards - Large Scale CNBC Ad Campaign for Latest Smart Wallet to Commence July 7th 4Advantages for Digital Wallets Eliminate Need to Carry Credit Cards - Large Scale CNBC Ad Campaign for Latest Smart Wallet to Commence July 7th 5Avery Biomedical Devices, Inc. announces the appointment of Mark E Ginsburg, M.D. to its Board of Directors 2Fingerprint Sensors Market worth $14.35 Billion by 2020 2Fingerprint Sensors Market worth $14.35 Billion by 2020 3
... Researchers at Burnham Institute for Medical Research at ... (a chain of amino acids) that specifically recognizes and ... was also shown to deliver diagnostic particles and medicines ... dramatically enhance both cancer detection and treatment. The work ...
... Mass. December 7, 2009 Biogen Idec (NASDAQ: ... fumarate) achieved key milestones in clinical trials for multiple ... the last patient was enrolled in the CONFIRM trial, ... evaluate the efficacy and safety of BG-12 as a ...
... Researchers from Yale University and Mirna Therapeutics, Inc., reversed ... occurring tumor suppressor microRNA. The study reveals that a ... role in cancer treatment, and provides hope for future patients ... cancers. "This is the first time anybody has shown a ...
Cached Biology News:Delivering medicine directly into a tumor 2Biogen Idec's oral compound BG-12 achieves development milestones in MS and RA 2
... anti-phospho-IRS1 (Tyr896) ... to amino acid region encompassing ... phospho-IRS1 (Tyr896). ... Quality Assurance: ...
Goat polyclonal to PPP2R5D Immunogen: Peptide with sequence KRAEEFLTASQEAL, from C Terminus of the protein sequence according to NP_006236...
...
Monoclonal Mouse Anti-Human Cytokeratin 16 (48 kD)...
Biology Products: