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. |