Navigation Links
Cell Therapeutics, Inc. Intends to Offer to Exchange up to $89.2 Million of its Outstanding Convertible Notes in a 'Modified Dutch Auction' Tender Offer
Date:5/11/2009

SEATTLE, May 11 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. ("CTI" or the "Company") (Nasdaq and MTA: CTIC) today announced that that its Board of Directors has authorized a "Modified Dutch Auction" tender offer (the "Exchange Offer") and that it intends to exchange shares of its common stock, no par value ("Common Stock"), and cash for up to approximately an aggregate of $89.2 million principal amount for the following outstanding shares of the Company's convertible notes (the "Notes"):

  • 4% Convertible Senior Subordinated Notes due 2010
  • 5.75% Convertible Senior Notes due 2011
  • 6.75% Convertible Senior Notes due 2010
  • 7.5% Convertible Senior Notes due 2011
  • 9% Convertible Senior Notes due 2012

The Company currently expects to utilize up to $17.8 million in cash currently on hand and/or cash to be received in connection with a private placement of Common Stock and warrants to a single institutional investor for the cash portion of the exchange consideration. The Company anticipates that the consideration for the Exchange Offer will be in the range of $250 to $300 per $1000 per value of the Notes.

The Company is conducting the Exchange Offer in order to reduce the principal amount of its outstanding indebtedness. The Company believes that reducing its outstanding indebtedness is necessary in order for its business to operate in light of its current asset base and revenue prospects. Currently, there is an aggregate of approximately $118.9 million of Notes outstanding. The Exchange Offer is expected to commence in the near future.

This announcement is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any Notes. The Company expects to announce further information on the details of the proposed Exchange Offer in the near fu
'/>"/>

SOURCE Cell Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Oxygen Biotherapeutics, Inc. Files Cosmetic Product Ingredient Statement for new Oxycyte-based Cosmetic Gel
2. TorreyPines Therapeutics, Inc. Hires Advisor to Evaluate Strategic Alternatives
3. Former Executive at Genzyme Corp. and Osiris Therapeutics, Inc. to Head Business Advisory Board at Rx for Africa, Inc.
4. Oxygen Biotherapeutics, Inc. Establishes Warfighter Division
5. Cell Therapeutics, Inc. (CTI) President Craig Philips to Present at Invest Northwest
6. Cell Therapeutics, Inc. to Offer to Repurchase up to $124 Million of Its Notes
7. Nile Therapeutics, Inc. Reports 2008 Third Quarter Financial Results
8. Cell Therapeutics, Inc. (CTI) Rodman & Renshaw Healthcare Conference Presentation to be Webcast
9. Cell Therapeutics, Inc. (CTI) Oppenheimer & Co. Healthcare Conference Presentation to be Webcast
10. Cornerstone Therapeutics, Inc. Taps Josh Franklin to Head Marketing Team
11. Cell Therapeutics, Inc. Announces Single Institutional Investor to Purchase Up to $18 Million of Senior Convertible Notes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2015)... New York, NY (PRWEB) March 29, 2015 ... testosterone treatment lawsuits ( http://www.testosteronelawsuithub.com/ ) pending in ... has scheduled the litigation’s next Case Management Conference ... indicate that the meeting will address the progress ... men who allegedly experienced heart attacks, strokes and ...
(Date:3/29/2015)... 2015 “Health is an endo thing, ... learn more about the cannabinoid system … we learn ... Publius’ Go Endo-Cannabinoid Update ~ new on the ... celebrated. Publius, of The Cannabis Papers: A citizen’s guide ... Health (PubMed) cannabinoid system (CS) articles discussing: cannabinoids in ...
(Date:3/28/2015)... 28, 2015 Take a bite of ... into action. Acids tumble into the stomach, ready to ... valve-like structure lets these acids run amok, triggering a ... common symptom. More than 60 million Americans have heartburn ... where heartburn starts, and how it can be stopped. ...
(Date:3/28/2015)... Orlando, FL (PRWEB) March 28, 2015 ... pre-existing conditions coverage is made available to all visitors ... States, effective immediately. All members are encouraged to purchase ... finalized to avoid lack of proper coverage for pre-existing ... suffer from one or two medical conditions with serious ...
(Date:3/28/2015)... How best to treat and recover ... orthopaedic medicine. While diagnostic hip injections are commonly performed ... etiology, research presented today at the American Orthopaedic Society ... that pain relief from this diagnostic injection may not ... “Our study looked to assess if the amount of ...
Breaking Medicine News(10 mins):Health News:Federal Court Overseeing Testosterone Treatment Lawsuits Schedules April Case Management Conference 2Health News:Federal Court Overseeing Testosterone Treatment Lawsuits Schedules April Case Management Conference 3Health News:March Homeostasis: Publius’ Go Endo-Cannabinoid Update ~ New on the Bryan William Brickner Blog 2Health News:Bypass Your Heartburn Worries This Easter With Tylers Coffee 2Health News:India Network Health Insurance Today Announces New Eligibility Criteria for Pre-existing Condition Health Insurance Coverage for Visitors to the United States 2Health News:India Network Health Insurance Today Announces New Eligibility Criteria for Pre-existing Condition Health Insurance Coverage for Visitors to the United States 3Health News:Pain Injections for Hip Arthroscopy Patients May Not Predict Surgical Outcomes 2
... Deficiency hampers babies, ability to respond to low oxygen, study ... of the brain chemical serotonin may be crucial to sudden ... died of SIDS had significantly lower levels of serotonin -- ... heart rate -- compared to babies who died of other ...
... , WASHINGTON , Feb. 2 ... the nation,s largest nonpartisan individual membership association of state legislators — ... Peggy Mast and Brenda Landwehr for filing ... of individuals to make their own health care choices. Sen. Pilcher ...
... The Massachusetts Eye and Ear Infirmary Cataract Surgery Trainer, ... to perform cataract surgery, has been shown to enhance ... methods. The results of a multi-center study evaluating the ... was published in the February issue of Ophthalmology ...
... ... , ... (Vocus) February 1, 2010 -- Geoscape published its most recent study that reveals a ... The BehaviorBase™ Healthcare study reflects views and beliefs based on a survey of 2,219 ...
... over possible link between MMR vaccine, developmental disorder ... British medical journal The Lancet on Tuesday ... the measles, mumps and rubella vaccine to autism and ... Feb. 28, 1998, set off a worldwide furor, with ...
... , This release is available in ... suffer social difficulties simply because of the way they ... at McGill,s School of Communication Sciences and Disorders, has ... with Parkinson,s disease, based solely on how they communicate. ...
Cached Medicine News:Health News:Serotonin May Be Key to Sudden Infant Deaths 2Health News:Serotonin May Be Key to Sudden Infant Deaths 3Health News:Kansas Legislators Stand for Health Care Freedom 2Health News:Kansas Legislators Stand for Health Care Freedom 3Health News:Mass. Eye and Ear Infirmary Cataract Surgery Trainer teaches residents cataract surgery 2Health News:Mass. Eye and Ear Infirmary Cataract Surgery Trainer teaches residents cataract surgery 3Health News:Study Reveals Impact Of Health Insurance On Hispanics' Attitudes Towards Healthcare Providers 2Health News:Flawed Autism Study Retracted by Medical Journal 2Health News:Flawed Autism Study Retracted by Medical Journal 3Health News:Parkinson's disease research uncovers social barrier 2
(Date:3/27/2015)... NEW YORK , March 27, 2015 ... in Santa Ana, California is a ... market for which is estimated at $22 billion in the ... includes the use of FDA-approved Naltrexone in a specially compounded ... (excluding Australia and New ...
(Date:3/27/2015)... -- Levi & Korsinsky announces it has commenced an ... concerning possible violations of federal securities laws. The investigation ... with its study of the drug OHR-102. To obtain ... Joseph E. Levi, Esq. either via email ... 363-7500, toll-free: (877) 363-5972. Levi & Korsinsky ...
(Date:3/27/2015)... - Russell Williams , President of ... 2015-2016 Quebec Budget, noting the fiscal discipline and the ... However, the association is concerned about the decline of ... intent to strive for a balanced budget this year, ... Quebec,s economic development is encouraging," said Mr. ...
Breaking Medicine Technology:Small Cap IR Correction -- BioCorRx Inc. Positions Itself Through Strategic Partnerships To Gain Market Share Of The $22 Billion Substance Abuse Treatment Market In The U.S. 2Quebec 2015-2016 Budget: Rx&D welcomes fiscal discipline and biopharma working group, but the decrease in government spending on medicines is questioned 2Quebec 2015-2016 Budget: Rx&D welcomes fiscal discipline and biopharma working group, but the decrease in government spending on medicines is questioned 3
... Therapeutics (Nasdaq: NKTR ) will announce its financial ... Wednesday, November 2, 2011, after the close of U.S.-based financial ... a conference call to review the results beginning at 5:00 ... The press release and a live audio-only Webcast of ...
... Oct. 26, 2011 ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ... with the U.S. Food and Drug Administration (FDA) to ... ANX-514 (docetaxel for injectable emulsion), a detergent-free reformulation of ... study (Study 514-02) with a primary objective of comparing ...
Cached Medicine Technology:Nektar to Announce Financial Results for the Third Quarter of 2011 on Wednesday, November 2, 2011, After Close of U.S.-Based Financial Markets 2ADVENTRX and FDA Reach Agreement on Pivotal Study for ANX-514 2ADVENTRX and FDA Reach Agreement on Pivotal Study for ANX-514 3ADVENTRX and FDA Reach Agreement on Pivotal Study for ANX-514 4
The ACCU-Beam® line of Surgical Microscope Accessories includes digital camera adaptors, beam splitters, objective lenses, fiber optic cables, and fiberoptic retrofits....
The ACCU-Beam® line of Surgical Microscope Accessories includes digital camera adaptors, beam splitters, objective lenses, fiber optic cables, and fiberoptic retrofits....
... The ACCU-Beam® line of Surgical Microscope ... splitters, objective lenses, fiber optic cables, ... 35mm Photo Adaptor attaches directly to ... adaptors are used to mount the ...
Inquire...
Medicine Products: