Seeking Alpha

Cyclacel prices secondary offering

  • Cyclacel Pharmaceuticals (CYCC) prices its public offering of 2,857,143 shares of common stock at $3.50/share. Gross proceeds will be ~$10M and will be used to fund the continued development of sapacitabine and general corporate purposes.
  • Underwriters over-allotment is 428,571 shares.
  • Closing date is April 9.
  • Shares closed yesterday at $3.71.
  • 17 mutual funds have positions, down from 20 a year earlier.
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