Cyclacel pharmaceuticals announces closing of $14.5 million underwritten public offering and full exercise of over-allotment option

Berkeley heights, n.j., march 16, 2021 (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 the closing of its previously announced underwritten public offering of 2,078,214 shares of its common stock, offered at a price of $7.00 to the public, which includes the full exercise of the underwriter's over-allotment option to purchase additional shares. the gross proceeds to the company from this offering are approximately $14.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company. existing and new institutional investors participated in the offering.
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