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.