BioCentury
ARTICLE | Financial News

SPPI raises $20 million

September 29, 2003 7:00 AM UTC

Spectrum Pharmaceuticals (SPPI) raised $20 million in a private placement of convertible preferred stock and warrants. Investors included Baystar Capital; SDS Merchant Fund; SCO Capital Partners; Xmark Funds; Quogue Capital; and ProMed Partners. SCO Securities was the placement agent. The preferred stock converts into SPPI common stock at $5. Investors also received warrants to purchase 2.8 million shares of common stock at $6.50. ...