PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:43 PM
| This Slide: #345 of 609 |
Slide #345. CTI BioPharma Corp. — Preferred Stock Offering
Company:
CTI BioPharma Corp. (NASDAQ:CTIC)
Date announced:
10/26/2015
Shares Offered:
50,000
Date of Pricing:
10/27/2015
Price Per Share:
$1,000
Preferred Stock Offering Details:
CTI BioPharma Corp. ("CTI") (NASDAQ and MTA: CTIC) today announced that it intends to offer and sell, subject to market and other conditions, shares of its Series N-1 Preferred Stock in an underwritten public offering (the "Offering"). Each share of Series N-1 Preferred Stock will have a stated value of $1,000 per share and will be convertible at the option of the holder, at any time after issuance, into shares of common stock prior to the automatic conversion of such shares in certain circumstances. -updated 10/27- CTI BioPharma Corp. ("CTI") (NASDAQ and MTA: CTIC) today announced the pricing of an underwritten public offering of 50,000 shares of its Series N-1 Preferred Stock, offered at a price to the public of $1,000 per share of Series N-1 Preferred Stock (the "Offering"). Each share of Series N-1 Preferred Stock is convertible at the option of the holder, at any time, into 800 shares of common stock at a conversion price of $1.25 per share of common stock, for a total of 40,000,000 shares of common stock. The shares of Series N-1 Preferred Stock will automatically convert into shares of common stock in certain circumstances.
CTI BioPharma is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies for blood-related cancers where there is an unmet medical need. Co. has one commercially approved product, VONJO™ (pacritinib), which has received approval in the U.S. by the U.S. Food and Drug Administration for the treatment of adult patients with intermediate or primary or secondary (post-polycythemia vera or post-essential thrombocythemia) myelofibrosis with a platelet count below 50 x 10^9/L.
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Avg. Broker Rec.
 
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Strong Buy (3.86 out of 4) 74th percentile
(ranked higher than approx. 74% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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