By Devika Patel
Knoxville, Tenn., Sept. 15 - Cell Therapeutics, Inc. said it arranged to sell $9 million of its 10% convertible senior notes due 2012 to a single investor. It also said the same institutional investor may purchase an additional $9 million of 10% series B convertible senior notes due 2012.
The notes will be convertible at $1.27.
Rodman & Renshaw, LLC is the agent.
Cell Therapeutics is a Seattle-based biopharmaceutical company developing treatments for cancer.
| Issuer: | Cell Therapeutics, Inc.
|
| Issue: | Convertible senior notes
|
| Amount: | $18 million
|
| Maturity: | 2012
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $1.27
|
| Warrants: | No
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Sept. 15
|
| Stock symbol: | Nasdaq: CTICD
|
| Stock price: | $1.28 at close Sept. 12
|
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