Xcyte Therapies, Inc. Announces Exercise of Over-Allotment Option and Closing of Public Offering of 6% Convertible Exchangeable Preferred Stock.SEATTLE -- Xcyte Therapies, Inc. ("Xcyte") (Nasdaq:XCYT) announced today that the underwriters of its public offering of 6% convertible exchangeable preferred stock Convertible exchangeable preferred stock Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock. have exercised their option to purchase 390,000 additional shares. These additional shares bring the total number of shares purchased by the underwriters to 2.99 million, with total gross proceeds to Xcyte of $29.9 million. The transaction closed today. Each share of the convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". has a liquidation preference of $10 and is convertible into 4.2553 shares of Xcyte Therapies common stock based on an initial conversion price of $2.35. An annual dividend of 6% will be payable quarterly in arrears Adv. 1. in arrears - in debt; "he fell behind with his mortgage payments"; "a month behind in the rent"; "a company that has been run behindhand for years"; "in arrears with their utility bills" behindhand, behind . The first dividend will be payable on February 1, 2005 and will be prorated based on the settlement date of November 3, 2004. All of the shares were offered by Xcyte. The convertible exchangeable preferred stock is listed on the Nasdaq National Market under the symbol "XCYTP". The lead manager of the offering is Piper Jaffray & Co. JMP JMP Jump JMP Java Memory Profiler JMP Joint Manpower Program JMP Joint Management Plan JMP Joint Marketing Program JMP JCL Manipulation Program JMP Joint Mission Planning (US DoD) JMP Joint Military Program Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is the co-manager for the offering. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. may be obtained from Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, 612-303-6000. A registration statement relating to these securities has been filed with the SEC and was declared effective on October 29, 2004. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Xcyte Therapies is a biotechnology company developing a new class of therapeutic products, which consist of activated, patient-specific T cells T cells A type of white blood cell produced in the thymus gland. T cells are an important part of the immune system. Infants born with an underdeveloped or absent thymus do not have a normal level of T cells in their blood. , known as Xcellerated T Cells, designed to enhance the body's natural immune responses to treat cancer, infectious diseases and other medical conditions associated with weakened immune systems. Xcyte(TM), Xcyte Therapies(TM) and Xcellerated T Cells(TM) are trademarks of Xcyte Therapies, Inc. |
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