Navigation Links
Cell Therapeutics Announces Institutional Investor to Purchase $40 Million of Convertible Preferred Stock and Warrants to Purchase Common Stock
Date:5/29/2012

SEATTLE, May 29, 2012 /PRNewswire/ -- Cell Therapeutics, Inc. ("CTI") (Nasdaq and MTA: CTIC) today announced that it has entered into an agreement to sell, subject to customary closing conditions, $40 million of shares of its Series 15 Convertible Preferred Stock and warrants to purchase shares of its common stock (and the shares of common stock issuable from time to time upon conversion of the Series 15 Convertible Preferred Stock and exercise and exchange of the warrants) in a registered offering to an institutional accredited investor (the "Initial Purchaser") in two $20 million tranches (the "Offering"). 

CTI plans to use the net proceeds from the Offering to finance the purchase price and related fees and expenses of the acquisition of pacritinib from S*BIO Pte Ltd., for which Jefferies & Company, Inc. was the financial advisor to CTI.  CTI also plans to use the net proceeds from the Offering for activities related to preparing for the commercial launch of Pixuvri™ in the European Union and for general corporate purposes, which may include, among other things, funding research and development, preclinical and clinical trials, the preparation and filing of new drug applications, the acquisition of complementary businesses, technologies or products and general working capital.

CTI expects to initially issue 20,000 shares of Series 15 Convertible Preferred Stock (the "Series 15-1 Preferred Stock") (convertible into an aggregate of 20,000,000 shares of common stock issuable from time to time upon conversion at a conversion price of $1.00 per share) and warrants to purchase up to an aggregate of 13,333,333 shares of common stock with an exercise price per share of $1.092 on or around May 29, 2012 (the "Initial Closing") for gross proceeds of $20 million.

Subject to certain terms and conditions, the Initial Purchaser has also agreed to purchase and CTI has agreed to sell a second tranche of 20,000 shares of Ser
'/>"/>

SOURCE Cell Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6

Related biology technology :

1. Arthritis Therapeutics Market to 2018 - Novel Oral JAK Inhibitors and Biologic Disease Modifying Anti-Rheumatic Drugs (DMARD) Will Drive Continued Growth Across Key Indications
2. Neuroendocrine Carcinoma Therapeutics - Pipeline Assessment and Market Forecast to 2019
3. Aratana Therapeutics Appoints Craig Tooman to Board of Directors
4. Immunomic Therapeutics Receives IND Authorization for Phase I Study of JRC-LAMP-Vax Vaccine to Treat Japanese Red Cedar (Sugi) Allergy
5. Silence Therapeutics Partner, Quark Pharmaceuticals, Extends its Agreement With Pfizer to Develop one of Its Compounds Containing Silences AtuRNAi in a New Indication
6. Regulus Therapeutics Appoints Bruce Carter to its Board of Directors
7. Cell Therapeutics, Inc. (CTI) Reports First Quarter Financial Results and Milestones
8. Echo Therapeutics to Present Positive Clinical Trial Results at the 72nd Scientific Sessions of the American Diabetes Association
9. Islet Sciences Announces DiaKine Therapeutics Novel Diabetes, Atherosclerosis Drugs Receives European Patent Protection
10. Tarsa Therapeutics Completes $28 Million Series B Financing to Advance OSTORA™ Oral Calcitonin
11. Halozyme Therapeutics to Present at Two Upcoming Investor Conferences in March
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/28/2015)... MA (PRWEB) May 28, 2015 ... located in Basel, Switzerland, and the Alliance ... a Cambridge, Massachusetts-based non-profit organization operating in ... a global system to enhance quality, safety, ... development and health research, are pleased to ...
(Date:5/27/2015)... DUBLIN , May 26, 2015 /PRNewswire/ ... has announced the addition of Jain PharmaBiotech,s ... Markets and Companies" to their offering. ... the molecular diagnostics technologies that will play ... public health, pharmaceutical industry, forensics and biological ...
(Date:5/27/2015)... Expanding in a big way into the Japanese ... recently inked a deal with Arthur Mokuda, president ... the largest endodontic distributor in Japan. The move represents ... Biomed, which manufactures Grey MTA Plus® and the newly ... have won renown from dentists around the world. , ...
(Date:5/27/2015)... Cambridge, MA (PRWEB) May 27, 2015 ... it is directing, via its wholly owned subsidiary, ... a potential treatment for ALS that targets the innate ... the ALS Therapy Development Institute received from the 2014 ... Challenge.” The entire sum of $4 million raised directly ...
Breaking Biology Technology:Clinerion and ACRES Partner on Patient Recruitment and Risk-Based Quality Management 2Clinerion and ACRES Partner on Patient Recruitment and Risk-Based Quality Management 3Global Molecular Diagnostics Market 2015-2024 - Analysis of Key Technologies, Markets and Companies 2Global Molecular Diagnostics Market 2015-2024 - Analysis of Key Technologies, Markets and Companies 3Dental Manufacturer Avalon Biomed Inks Major Deal with Japanese Distributor 2Dental Manufacturer Avalon Biomed Inks Major Deal with Japanese Distributor 3Ice Bucket Challenge Advances Antibody Toward Clinical Trial for ALS 2Ice Bucket Challenge Advances Antibody Toward Clinical Trial for ALS 3
... July 15, 2011 Biocept, Inc. announced today that ... President, Finance and Chief Financial Officer.  As CFO, Mr. ... accounting, finance, treasury, investor relations, risk management and information ... leadership experience in helping to build life science companies. ...
... July 15, 2011 PharmAthene, Inc. (NYSE Amex: ... against biological and chemical threats, today announced that the ... to succeed John Pappajohn as Chairman of the Board. ... immediately. Dr. Sayare has been a member ...
... July 14, 2011 BioMarin Pharmaceutical Inc. (Nasdaq: ... trial for BMN 673, a poly ADP-ribose polymerase (PARP) inhibitor, ... Phase 1/2 trial for BMN 673 for the treatment of ... is ongoing. "We are excited to be ...
Cached Biology Technology:Biocept, Inc. Announces New CFO 2Biocept, Inc. Announces New CFO 3Mitchel Sayare, Ph.D. to Succeed John Pappajohn as Chairman of the Company's Board of Directors 2Mitchel Sayare, Ph.D. to Succeed John Pappajohn as Chairman of the Company's Board of Directors 3BioMarin Initiates Phase 1 Trial for BMN 673 in Patients With Advanced Hematological Malignancies 2BioMarin Initiates Phase 1 Trial for BMN 673 in Patients With Advanced Hematological Malignancies 3
(Date:5/10/2015)... , May 11, 2015 Fingerprint Cards ... FPC1025 and FPC1155 from the distributor World Peace Industrial Group ... distributors in Asia . Deliveries are planned ... be used by smartphone manufacturers in China ... the communicated revenue guidance of + 1 000 MSEK for 2015. ...
(Date:4/27/2015)... , April 27, 2015  For more than ... trade show has been the premier worldwide event for ... 2015 is a must-attend event for any local, national, ... into the emerging commercial markets and current applications of ... innovations of this projected $48 billion industry, and how ...
(Date:4/20/2015)... , April 20, 2015 ...   Glenbeigh Records Management (GRM), Ireland,s ... with Dubai Islamic Bank. Having built up an impressive track ... now a leading player within the records management sector in ... expects to double is GCC staffbase and employ a further ...
Breaking Biology News(10 mins):Fingerprint Cards Receives Touch Fingerprint Sensor Order of SEK 235 Million 2UNMANNED SYSTEMS 2015: Largest International Conference and Trade Show for the Drone and Unmanned Technology Industry 2UNMANNED SYSTEMS 2015: Largest International Conference and Trade Show for the Drone and Unmanned Technology Industry 3UNMANNED SYSTEMS 2015: Largest International Conference and Trade Show for the Drone and Unmanned Technology Industry 4UNMANNED SYSTEMS 2015: Largest International Conference and Trade Show for the Drone and Unmanned Technology Industry 5Glenbeigh Records Management Wins Contract With Dubai Islamic Bank 2Glenbeigh Records Management Wins Contract With Dubai Islamic Bank 3
... turn back the biological clock and extend their lifespan ... report. Their study, published online this month in ... the old notion of a tradeoff between reproduction and ... that "the more you reproduce, the shorter you,re going ...
... Hopkins Bloomberg School of Public Health have found ... exposure to antibiotic-resistant bacteria from intensively raised poultrydriving ... to slaughterhouse. A study by the Hopkins researchers ... and drug-resistant, on surfaces and in the air ...
... Danny Reinberg was awarded a Howard Hughes Institute of ... epigenetics- helping to unravel the impact lifestyle and environment ... can teach us about aging and behavior. Results of ... humans, using gene regulation in ants as a model ...
Cached Biology News:Old flies can become young moms 2Transporting broiler chickens could spread antibiotic-resistant organisms 2Ants may help researchers unlock mysteries of human aging process 2Ants may help researchers unlock mysteries of human aging process 3
... Supercoiled DNA Ladder is ... from 2 to 16 kb ... The bands can be visualized ... may also be detected on ...
... system consists of AmnioMAX-C100 ... 17001-082) and AmnioMAX-C100 Supplement ... is complete with antibiotics ... and requires no further ...
...
... ml Dynabeads Tosylactivated (4.5 m). Hydrophobic ... For coupling of antibodies for cell applications. ... with covalent binding of primary amine groups ... occurringovernight. Coupling reactions can be performed at ...
Biology Products: