Cell Therapeutics, Inc. (CTIC: Quote) said Friday that the shareholders of the company elected Richard Love, Mary Mundinger, and Jack Singer to serve on the company's Board of Directors until its 2015 Annual Meeting.
This decision was made in the annual meeting held today in which the shareholders also approved other items of the agenda.
They approved an amendment to the company's amended and restated articles of incorporation to increase the total number of authorized shares and authorized shares of common stock and approved an amendment to the 2007 Equity Incentive Plan to increase the number of shares available for issuance under the Plan.
They also approved the shares issued to S*BIO Pte Ltd. for the acquisition of to S*BIO's assets and to issue shares of common stock or shares of preferred stock in lieu of cash for up to 50 percent of the milestone payments pursuant to the asset purchase agreement entered into with S*BIO on April 18, 2012.
Shareholders additionally approved the issuance of shares of preferred stock and shares of common stock issuable upon conversion of the preferred stock, warrants and shares of common stock issuable upon the exercise of the warrants and the issuance of shares of common stock in lieu of cash upon exchange of such warrants issued to Socius CG II, Ltd. pursuant to the securities purchase agreement entered into in connection with the offering of Series 15 Convertible Preferred Stock on May 29, 2012.
Additionally, shareholders ratified the selection of Marcum LLP as the Company's independent auditors for the year ending December 31, 2012.
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by RTT Staff Writer
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