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Single investor buys 16mm common shares of Cell Therapeutics
21 May 2009
On the heels of a $20mm preferred stock placement completed in April, cancer company Cell Therapeutics netted $19mm through the sale this month of 16mm common shares at $1.25 each (an 89% premium) to Iroquois Master Fund. The sole investor also received five-year warrants to purchase up to 4.8mm more shares at an exercise price of $1.40. Rodman & Renshaw was the placement agent.
Private Investment in Public Equity
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