Cell Therapeutics, Inc. (“Cell Therapeutics” or the “Company”) engaged M.M. Dillon & Co. (“Dillon”) to privately place $82,000,000 of 5 year, 6.75% Convertible Senior Notes. The notes were issued under Rule 144A and traded on the Portal Market. The proceeds of the offering were used in part for working capital purposes and to fund certain capital expenditures including research and development, preclinical and clinical trials and for the preparation and filing of new drug applications with the FDA. Dillon placed an additional tranche, $33,200,000 of 5 year 7.5% Convertible Senior Notes, to assist with working capital needs
About CELL THERAPEUTICS, INC.
Cell Therapeutics develops, acquires, and commercializes oncology products for the treatment of cancer. It is developing pixantrone, a Phase III single-agent clinical trial product for the treatment of non-Hodgkin’s lymphoma and various other hematologic malignancies, solid tumors, and immunological disorders; OPAXIO, a Phase III clinical trial product for the treatment of ovarian, esophageal, and non-small cell lung cancer; and brostallicin, a Phase I/II clinical trials product for the treatment of sarcoma. The company has collaboration and licensing arrangements with Novartis International Pharmaceutical, Ltd.; and PG-TXL Company, L.P. Cell Therapeutics, Inc. was founded in 1991 and is headquartered in Seattle, Washington
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms. For more information visit www.mmdillon.com.