Cell Therapeutics offering more than 29.3 million shares of stock, 7.3 million warrants

Cell Therapeutics offering stock, warrants

SEATTLE — Biotechnology company Cell Therapeutics Inc. said Wednesday it will publicly offer just over 29.3 million shares of common stock and about 7.3 million shares of warrants to buy common stock.

The company did not price the offering.

It will also give underwriters a 30-day option to buy an additional 4.4 million shares of common stock and about 1.1 million warrants to cover overallotments.

The company said it would use the proceeds for working capital and general corporate purposes.

Cell Therapeutics has about 461.9 million shares of common stock outstanding.

Rodman & Renshaw is the sole book-running manager for the offering.

Shares of Cell Therapeutics fell 3 cents to $1.60 in after-hours trading after rising 12 cents to close at $1.63 during the regular trading session.