NEW YORK--(BUSINESS WIRE)--Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that its client Spectrum Pharmaceuticals, Inc. (NasdaqGM: SPPI), a commercial-stage biotechnology company with a focus in oncology, has received commitments from institutional investors to purchase $50 million of securities in a registered direct offering. Under the terms of a Securities Purchase Agreement, Spectrum will sell an aggregate of approximately 6,622,500 shares of its common stock and warrants to purchase up to 2,649,000 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase approximately 0.4 shares of common stock, will be sold for a purchase price of $7.55.
