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The company said it expects to utilise up to USD10m for the tender from cash currently on hand.
Cell Therapeutics has reported an aggregate of USD124m of notes currently outstanding. The tender offer is expected to commence in the near future. A Pursuant to the "Modified Dutch Auction" procedure, the company would offer to purchase a portion or all of the outstanding principal amount of the notes at a price currently expected to be no greater than USD80 or less than USD50 per USD1,000 principal amount of notes, plus accrued and unpaid interest.
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