ARTICLE | Financial News

Cyclacel raises $15.2M ahead of AML Phase III

October 5, 2010 11:44 PM UTC

Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) raised $15.2 million through the sale of 8.3 million units at $1.83 in a private placement to institutional investors, including the Special Situations Funds. Each unit comprises a share and a five-year warrant to purchase 0.5 shares, with each whole share warrant exercisable at $1.92. Investors will have the right to acquire up to 4.2 million additional units at $1.67 at any time up to nine months after closing. Lazard and Roth Capital Partners were placement agents. ...