Cyclacel Pharmaceuticals Announces Closing of $8.0 Million Private Placement Priced At-The-Market Under NASDAQ Rules
BERKELEY HEIGHTS, N.J., May 02, 2024 (GLOBE NEWSWIRE) — Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC, NASDAQ:CYCCP; “Cyclacel” or the “Company”), a biopharmaceutical company developing innovative medicines based on cancer cell biology, today announced that it has closed its previously announced private placement for the purchase and sale of 4,968,945 shares of common stock (or pre-funded warrants in lieu thereof), series A warrants to purchase up to 4,968,945 shares of common stock and short-term series B warrants to purchase up to 4,968,945 shares of common stock at a purchase price of $1.61 per share of common stock (or per pre-funded warrant in lieu thereof) and accompanying warrants priced at-the-market under Nasdaq rules. The series A warrants and short-term series B warrants have an exercise price of $1.36 per share and are exercisable immediately upon issuance. The series A warrants expire five and one-half years from the date of issuance and the short-term series B warrants expire eighteen months from the date of issuance.