I have a dream...
Cell Therapeutics, Inc. Closes $20.25 Million Offering
Monday July 30, 4:30 pm ET
SEATTLE, July 30 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTAX: CTIC) today confirmed that it has received approximately $20.25 million from the sale of its 3% Convertible Preferred Stock and warrants in a previously announced registered offering to several institutional investors, including existing securities holders. CTI sold 20,250 shares of Series C 3% convertible preferred stock, together with warrants, at a negotiated price of $1,000 per share of Series C convertible preferred stock. The Preferred Stock is convertible into 5,192,307 shares of common stock, at a conversion price of $3.90 per share. The Company also issued warrants to purchase up to 2,596,148 shares of common stock, with an exercise price of $4.53 per share.
...that Bianco will turn out to be as good at developing drugs as he is to raise money. But it is just a dream.
Amazing that they guy is still considered to be credit worthy. As usual there was a share price run up prior to the announcement of the new financing.
Erik |
