Cell Therapeutics, Inc. (CTI) Announces Intention to Sell or Exchange a New Series of Convertible Notes
Thursday April 6, 7:00 am ET
Stock not reacting well, another 'buying opportunity'. - Doc
SEATTLE, April 6 /PRNewswire-FirstCall/
-- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; MTAX) announced today its intention to sell or exchange, subject to market and other conditions, between $50,000,000 and $100,000,000 principal amount of a new series of convertible notes to qualified institutional buyers or holders of its existing notes in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended. The terms of the notes and any exchange of those notes for existing notes will be determined through negotiations with potential buyers and existing noteholders. The proposed notes and any common stock issuable upon their conversion have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration under, or an applicable exemption from, the registration requirements of the Securities Act of 1933, and any applicable state securities laws.
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