Rochester, NY 7/28/2009 4:51:12 AM
Cell Therapeutics, Inc. CTIC, exercises full option to purchase 4,399,816 shares
Cell Therapeutics, Inc.
Cell Therapeutics, Inc. CTIC, exercises full option to purchase 4,399,816 shares
The company announced recently that the underwriter of its previously announced public offering of 29,332,107 shares of its common stock and warrants to purchase up to 7,333,027 shares of its common stock has exercised in full its option to purchase 4,399,816 additional shares of its common stock and warrants to purchase up to 1,099,954 additional shares of its common stock to cover overallotments.
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Each warrant has an exercise price of $1.70 per warrant share, for total potential additional gross proceeds to the Company of approximately $14.3 million upon exercise of the warrants. The warrants are exercisable immediately upon the date of issuance and will expire nine months thereafter.
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