---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-140076"
form_type: "8-K"
ticker: null
cik: "0000891293"
company_name: "CTI BIOPHARMA CORP"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T07:37:42.594363+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CTI BioPharma to be acquired by Sobi for $9.10 per share in cash

## Summary
- Offer price of $9.10 per share in cash through a tender offer and subsequent merger.
- Minimum condition requires tender of shares representing >50% of outstanding plus certain convertible securities.
- CTI must pay Sobi a $59 million termination fee if it accepts a superior offer.
- Stockholders representing 6.7% of shares entered into a support agreement to tender their shares.
- Board amended bylaws to add exclusive forum provision for Delaware Chancery Court.

## SEC filing metadata
- accession: 0001193125-23-140076
- form_type: 8-K
- cik: 0000891293
- company_name: CTI BIOPHARMA CORP
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/891293/000119312523140076/0001193125-23-140076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/891293/000119312523140076/d436727d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-140076
- JSON: https://secwatch.observer/filing/0001193125-23-140076.json
- Plain text: https://secwatch.observer/filing/0001193125-23-140076.txt

## Key facts
- Governance Changes
  CTI BIOPHARMA CORP: Board approved amendment to bylaws to add forum selection provision designating Delaware courts as exclusive forum for certain actions (effective 2023-05-09).
  - Change: bylaw amendment
  - Effective: 2023-05-09
  source text: On May 9, 2023, CTI’s board of directors approved an amendment to the CTI’s Amended and Restated Bylaws, dated as of April 13, 2020 (as further amended, the “Bylaws”), to add a new Article XIII, Section 13.1 forum selection provision (the “Forum Selection Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/891293/000119312523140076/0001193125-23-140076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.