SEATTLE, July 24 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (Nasdaq and MTA: CTIC) (“CTI” or the “Company”) today announced that the underwriter of its previously announced public offering of 29,332,107 shares of its common stock and warrants to purchase up to 7,333,027 shares of its common stock has exercised in full its option to purchase 4,399,816 additional shares of its common stock and warrants to purchase up to 1,099,954 additional shares of its common stock to cover overallotments. The exercise of the underwriter’s overallotment option results in the issuance in this offering of an aggregate of 33,731,923 shares of its common stock and warrants to purchase up to 8,432,981 shares of its common stock, for aggregate gross proceeds of approximately $43.9 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $40.3 million.
