Cyclacel pharmaceuticals announces $3 million private placement offering of convertible preferred stock

Kuala lumpur, june 20, 2025 (globe newswire) -- cyclacel pharmaceuticals, inc. (“cyclacel”) (nasdaq: cycc, nasdaq: cyccp), a biopharmaceutical company that develops innovative cancer medicine, today announced that it has entered into a securities purchase agreement for the sale of its convertible series f preferred stock (“preferred stock”) in a private placement to certain accredited investors yielding gross proceeds of $3.0 million before deducting offering expenses. in connection with the offering, cyclacel issued to each investor, a series a common stock purchase warrant to purchase 3,270,000 shares of the company's common stock, par value $0.001 per share (“common stock”) at an exercise price of $0.51 per share, series b common stock purchase warrant to purchase 3,270,000 shares of common stock at an exercise price of $0.60 per share and series c common stock purchase warrant to purchase 3,270,000 shares of common stock at an exercise price of $0.68 per share (collectively, the “warrants”).
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