Cyclacel Pharmaceuticals (CYCC) filed a registration statement Wednesday for a potential public offering of an undisclosed number of shares of common stock, as well as warrants to buy shares of its common stock.
The biotechnology company said the common stock warrants will be exercisable as soon as they are issued at an undisclosed exercise price and will expire five years from the initial exercise date.
Cyclacel also said it is offering certain purchasers the opportunity to buy pre-funded warrants in lieu of shares of common stock that would otherwise result in their beneficial ownership exceeding 4.99%.
Shares of the company were down 4% in recent premarket activity.
Price: 0.8540, Change: -0.04, Percent Change: -4.04
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.