Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) ("CTI" or the "Company") today announced the closing of its previously announced public offering of 33,731,923 shares of its common stock and warrants to purchase up to 8,432,981 shares of its common stock, including the underwriter's exercise of its overallotment option. The Company received approximately $40.3 million in net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses.
Each warrant has an exercise price of $1.70 per warrant share, for total potential additional gross proceeds to the Company of approximately $14.3 million upon exercise of the warrants. The warrants are exercisable immediately upon their date of issuance and will expire nine months thereafter.
Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM - News), acted as sole book-running manager for the offering
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