for anyone in the CTIC, there was a wall of stock for sale
at $1.58 which subsequently held the stock down, lots of
volume yet no breakout, i did a little digging and
found this info from 10/5/12 if anyone wasn't aware they did
a $60mm conv preferred conv pr is $1.40 I am going to
watch the 1.40 level to see if it holds and volume,
just fyi for anyone involved in this
From Oct 5, 2012 SEATTLE (AP) -- Cell
Therapeutics Inc. said Friday it plans to sell $60 million in
preferred stock to raise money for the launch of its lymphoma drug
Pixuvri and to fund studies of its drug pacritinib as a treatment
for myelofibrosis.
Its common shares fell to a new all-time low on the news.
Cell Therapeutics said that it will sell preferred stock for $1,000
per share. Each preferred share can be converted into 714 shares of
stock with a
conversion price of
$1.40 per share.
If all the shares are converted, that would translate to 42.9
million shares.
The company said it expects to raise $55.6 million after
expenses.
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CTIC
Posted by ghosttrader on 24th of Jan 2013 at 01:27 pm
for anyone in the CTIC, there was a wall of stock for sale at $1.58 which subsequently held the stock down, lots of volume yet no breakout, i did a little digging and found this info from 10/5/12 if anyone wasn't aware they did a $60mm conv preferred conv pr is $1.40 I am going to watch the 1.40 level to see if it holds and volume, just fyi for anyone involved in this
From Oct 5, 2012 SEATTLE (AP) -- Cell Therapeutics Inc. said Friday it plans to sell $60 million in preferred stock to raise money for the launch of its lymphoma drug Pixuvri and to fund studies of its drug pacritinib as a treatment for myelofibrosis.
Its common shares fell to a new all-time low on the news.
Cell Therapeutics said that it will sell preferred stock for $1,000 per share. Each preferred share can be converted into 714 shares of stock with a conversion price of $1.40 per share.
If all the shares are converted, that would translate to 42.9 million shares.
The company said it expects to raise $55.6 million after expenses.