UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Cell Therapeutics, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
150934107
(CUSIP Number)
December 31,2006
(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 14 Pages
CUSIP No. 150934107 13G/A Page 2 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge International LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 3 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Corporation
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 4 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital L.P.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 5 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Master L.P.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 6 of 14 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge GP, Ltd.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 7 of 14 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge GP, LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 8 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Management, LLC 20-1901985
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible
into 8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO - Limited Liability Company
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 9 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Glenn Dubin
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(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 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 10 of 14 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Henry Swieca
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(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 8,198,509 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 8,198,509 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
7.5% Convertible Senior Notes, due 2011, convertible into
8,198,509 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)
5.36%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 150934107 13G/A Page 11 of 14 Pages
This Amendment No. 1 (this "Amendment") amends the statement on Schedule 13G
filed on May 5, 2006 (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 Item 4 in its entirety as set forth
below.
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, each Reporting Person may be
deemed the beneficial owner of 8,198,509 shares of Common Stock issuable upon
conversion of 7.5% Convertible Senior Notes due 2011 owned by Highbridge
International LLC.
Highbridge International LLC is a subsidiary of Highbridge Master L.P.
Highbridge Capital Corporation and Highbridge Capital L.P. are limited partners
of Highbridge Master L.P. Highbridge GP, Ltd. is the General Partner of
Highbridge Master L.P. Highbridge GP, LLC is the General Partner of Highbridge
Capital L.P. Highbridge Capital Management, LLC is the trading manager of
Highbridge International LLC, Highbridge Capital Corporation, Highbridge Capital
L.P. and Highbridge Master L.P. Glenn Dubin is a Co-Chief Executive Officer of
Highbridge Capital Management, LLC. Henry Swieca is a Co-Chief Executive 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 Master L.P., Highbridge Capital Corporation, Highbridge Capital
L.P., Highbridge GP, Ltd., Highbridge GP, LLC, Highbridge Capital Management,
LLC, Glenn Dubin and Henry Swieca disclaims beneficial ownership of shares of
Common Stock owned by Highbridge International LLC.
(b) Percent of class:
The Company's Amendment No. 1 to its quarterly report on Form
10-Q/A that was filed on February 6, 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,
the Reporting Persons may be deemed to beneficially own approximately 5.36% 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
CUSIP No. 150934107 13G/A Page 12 of 14 Pages
(ii) Shared power to vote or to direct the vote
See Item 4(a)
(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)
CUSIP No. 150934107 13G/A Page 13 of 14 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: February 14, 2007
HIGHBRIDGE INTERNATIONAL LLC HIGHBRIDGE CAPITAL CORPORATION
By: Highbridge Capital Management, LLC By: Highbridge Capital Management,
its Trading Manager LLC
its Trading Manager
By: /s/ Carolyn Rubin By: /s/ Carolyn Rubin
------------------------------- -------------------------------
Name: Carolyn Rubin Name: Carolyn Rubin
Title: Managing Director Title: Managing Director
HIGHBRIDGE CAPITAL MANAGEMENT, LLC
By: /s/ Carolyn Rubin
-------------------------------
Name: Carolyn Rubin
Title: Managing Director
HIGHBRIDGE MASTER L.P.
By: Highbridge GP, Ltd.
its General Partner
By: /s/ Clive Harris
--------------------------------
Name: Clive Harris
Title: Director
HIGHBRIDGE CAPITAL L.P. HIGHBRIDGE GP, LTD.
By: Highbridge GP, LLC
its General Partner
By: /s/ Clive Harris By: /s/ Clive Harris
------------------------------- -------------------------------
Name: Clive Harris Name: Clive Harris
Title: Director Title: Director
HIGHBRIDGE GP, LLC
By: /s/ Clive Harris /s/ Glenn Dubin
------------------------------- -----------------------------------
Name: Clive Harris GLENN DUBIN
Title: Director
CUSIP No. 150934107 13G/A Page 14 of 14 Pages
/s/ Henry Swieca
-------------------------------
HENRY SWIECA