SEATTLE, March 6, 2020 / PRNewswire / – CTI BioPharma Corp. (Nasdaq: CTIC) today announced the closure of its previously announced rights offering (the “Rights Offering”). At closing, CTI BioPharma sold and issued a total of 15,698,995 common shares (the “Common Shares”) and a total of 4,429.2423 Series X convertible preferred shares (the “Preferred X Series”) in accordance with ‘exercise. subscription rights and oversubscription rights to the placement of rights by the existing holders of the ordinary shares and convertible preferred shares of series O of CTI Biopharma. The rights offering was fully supported by certain existing shareholders of CTI BioPharma who agreed to purchase common shares and / or Series X preferred shares offered in the rights offering that were not subscribed (the “ oversubscription rights ”). CTI BioPharma has collected a total gross product of approximately $ 60.0 million in the placement of rights.
Of the total of the Series X common shares and preferred shares sold and issued in connection with the rights offering, certain affiliates of BVF Partners LP purchased 3,047 Series X Preferred shares, Stonepine Capital, LP purchased 3,267,127 shares common shares and 673.2873 Series X Preferred shares. , OrbiMed Private Investments VI, LP purchased 4,520,600 common shares and 298 Series X Preferred shares and New Enterprise Associates, Inc. purchased 3,390,450 common shares and 410,955 Series X Preferred shares, in each case in accordance with ‘exercise of their subscription and oversubscription rights.
The rights placement was carried out in accordance with the declaration of effective prior registration of CTI BioPharma filed with the Securities and Exchange Commission (the “SEC”) and a prospectus supplement and accompanying prospectus filed with from the SEC on February 14, 2020.
JMP Securities acted as financial advisor to CTI BioPharma in connection with the rights offering.
About CTI BioPharma Corp.
CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development and commercialization of new targeted therapies for blood cancers that offer a unique benefit to patients and their healthcare providers. In particular, CTI BioPharma focuses on the evaluation of pacritinib for the treatment of adult patients with myelofibrosis. CTI BioPharma is headquartered in Seattle, Washington.
“CTI BioPharma” and the CTI BioPharma logo are registered trademarks or trademarks of CTI BioPharma Corp. in various jurisdictions. All other brands are the property of their respective owners.
Investor contacts CTI BioPharma:
Maeve Conneighton/Maghan Meyers
+ 212-600-1902
[email protected]
SOURCE CTI BioPharma Corp.
Related links
http://www.ctibiopharma.com