UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Cell Therapeutics, Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
150934404
(CUSIP Number)
December 31,2007
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
----------------
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 11 Pages
CUSIP No. 150934404 13G/A Page 2 of 11 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge International LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
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NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.42%
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(12) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934404 13G/A Page 3 of 11 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Statistical Opportunities Master Fund, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
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NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
57 shares of Common Stock
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
57 shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
57 shares of Common Stock
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.00%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934404 13G/A Page 4 of 11 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Management, LLC 20-1901985
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.42%
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(12) TYPE OF REPORTING PERSON **
OO - Limited Liability Company
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934404 13G/A Page 5 of 11 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Glenn Dubin
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.42%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934404 13G/A Page 6 of 11 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Henry Swieca
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------_
PERSON WITH (8) SHARED DISPOSITIVE POWER
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
2,049,615 shares of Common Stock
57 shares of Common Stock
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.42%
_______________________________________________________________________
(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934404 13G/A Page 7 of 11 Pages
This Amendment No. 2 (this "Amendment") amends the statement on Schedule 13G
filed on May 5, 2006, as amended by Amendment No. 1 filed on February 14, 2007
(as amended, the "Schedule 13G") with respect to shares of Common Stock, no par
value ("Common Stock") of Cell Therapeutics, Inc., a Washington corporation (the
"Company"). Capitalized terms used herein and not otherwise defined in this
Amendment have the meanings set forth in the Schedule 13G. This Amendment amends
and restates Items 2(a), 2(b), 2(c), 2(e), 4, 5 and 10 in their entirety as set
forth below.
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
HIGHBRIDGE INTERNATIONAL LLC
c/o Harmonic Fund Services
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
HIGHBRIDGE STATISTICAL OPPORTUNITIES MASTER FUND, L.P.
c/o Harmonic Fund Services
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
HIGHBRIDGE CAPITAL MANAGEMENT, LLC IRS #: 20-1901985
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: State of Delaware
GLENN DUBIN
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
HENRY SWIECA
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
Due to a change in the reporting structure of Highbridge Capital Management,
LLC, Highbridge Master L.P., Highbridge Capital Corporation, Highbridge Capital
L.P., Highbridge GP, Ltd. and Highbridge GP, LLC, are no longer Reporting
Persons.
Item 2(e) CUSIP Number
150934404
CUSIP No. 150934404 13G/A Page 8 of 11 Pages
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
As of the date of this filing, (i) Highbridge International LLC
owns 2,049,615 shares of Common Stock issuable upon conversion of the 7.5%
Convertible Senior Notes due 2011,(ii) Highbridge Statistical Opportunities
Master Fund, L.P. owns 57 shares of Common Stock and (iii) each of Highbridge
Capital Management, LLC, Glenn Dubin and Henry Swieca may be deemed the
beneficial owner of the 2,049,615 shares of Common Stock issuable to Highbridge
International LLC upon conversion of the 7.5% Convertible Senior Notes due 2011
and the 57 shares of Common Stock owned by Highbridge Statistical Opportunities
Master Fund, L.P.
Highbridge Capital Management, LLC is the trading manager of Highbridge
International, LLC and Highbridge Statistical Opportunities Master Fund, L.P.
Glenn Dubin is the Chief Executive Officer of Highbridge Capital Management,
LLC. Henry Swieca is the Chief Investment Officer of Highbridge Capital
Management, LLC. The foregoing should not be construed in and of itself as an
admission by any Reporting Person as to beneficial ownership of shares of Common
Stock owned by another Reporting Person. In addition, each of Highbridge Capital
Management, LLC, Glenn Dubin and Henry Swieca disclaims beneficial ownership of
Common Stock owned by Highbridge International LLC and Highbridge Statistical
Opportunities Master Fund, L.P.
(b) Percent of class:
The Company's Definitive Proxy Statement on Schedule 14A filed on
December 21, 2007, indicates there were 57,841,193 shares of Common Stock
outstanding as of December 12, 2007. Therefore, based on the Company's
outstanding shares of Common Stock and the Common Stock issuable upon the
conversion of the 7.5% Convertible Senior Notes due 2011, issued by the Company
(i) Highbridge International LLC owns approximately 3.42% of the outstanding
shares of Common Stock of the Company, (ii) Highbridge Statistical Opportunities
Master Fund, L.P. owns approximately 0.00% of the outstanding shares of Common
Stock of the Company and (iii) each of Highbridge Capital Management, LLC, Glenn
Dubin and Henry Swieca may be deemed to beneficially own approximately 3.42% of
the outstanding shares of Common Stock of the Company. The foregoing should not
be construed in and of itself as an admission by any Reporting Person as to
beneficial ownership of shares of Common Stock owned by another Reporting
Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
(ii) Shared power to vote or to direct the vote
See Item 4(a)
CUSIP No. 150934404 13G/A Page 9 of 11 Pages
(iii) Sole power to dispose or to direct the disposition of
0
(iv) Shared power to dispose or to direct the disposition of
See Item 4(a)
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following: [X]
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of
its knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
Exhibits:
Exhibit I: Joint Filing Agreement, dated as of January 31, 2008, by and among
Highbridge International LLC, Highbridge Statistical Opportunities Master Fund,
L.P., Highbridge Capital Management, LLC, Glenn Dubin and Henry Swieca.
CUSIP No. 150934404 13G/A Page 10 of 11 Pages
SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information with respect to it set
forth in this statement is true, complete, and correct.
Dated: January 31, 2008
HIGHBRIDGE INTERNATIONAL LLC HIGHBRIDGE STATISTICAL OPPORTUNITIES
MASTER FUND, L.P.
By: Highbridge Capital Management, LLC
its Trading Manager By: Highbridge Capital Management, LLC
its Trading Manager
By: /s/ Noah Greenhill
-------------------------------
Name: Noah Greenhill By: /s/ Noah Greenhill
Title: Managing Director ---------------------------------
Name: Noah Greenhill
Title: Managing Director
HIGHBRIDGE CAPITAL MANAGEMENT, LLC
/s/ Glenn Dubin
-----------------------------------
GLENN DUBIN
By: /s/ Noah Greenhill
-------------------------------
Name: Noah Greenhill
Title: Managing Director
/s/ Henry Swieca
---------------------------------
HENRY SWIECA
CUSIP No. 150934404 13G/A Page 11 of 11 Pages
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, no par value, of Cell Therapeutics, Inc., is being filed, and all
amendments thereto will be filed, on behalf of each of the persons and entities
named below in accordance with Rule 13d-1(k) under the Securities Exchange Act
of 1934, as amended. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.
Dated as of January 31, 2008
HIGHBRIDGE INTERNATIONAL LLC HIGHBRIDGE CAPITAL MANAGEMENT, LLC
By: /s/ Noah Greenhill
--------------------------------
Name: Noah Greenhill
Title: Managing Director By: /s/ Noah Greenhill
--------------------------------
Name: Noah Greenhill
Title: Managing Director
HIGHBRIDGE STATISTICAL OPPORTUNITIES
MASTER FUND, L.P.
/s/ Henry Swieca
By: Highbridge Capital Management, LLC ----------------------------
its Trading Manager HENRY SWIECA
By: /s/ Noah Greenhill
-------------------------------
Name: Noah Greenhill
Title: Managing Director
/s/ Glenn Dubin
------------------------------
GLENN DUBIN