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Cell Therapeutics issues $15mm in preferred shares
07 May 2009
Executive Summary
Cell Therapeutics (cancer) raised $15mm through the sale to Cranshire Capital of 15k Series 1 preferred shares for $1k each and five-year warrants to purchase 22.5mm common shares at an exercise price of $0.41 apiece. The preferred shares convert to common at $0.30 each, or an aggregate of 50mm common shares. The investor also has a 60-day option to buy an additional $5mm of Series 1 shares (and no additional warrants) under the same terms as the initial purchase. Rodman & Renshaw was the placement agent.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Other
- Private Placement
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Cell Therapeutics issues $15mm in preferred shares
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