We are pleased to announce our role as financial advisor to Cyclacel Pharmaceuticals, Inc. (Nasdaq: CYCC, CYCCP) in securing a $25 million Private Investment in Public Equity (PIPE) financing aimed at strengthening its financial position and advancing its oncology drug development pipeline.
Cyclacel has entered into a Securities Purchase Agreement with David Lazar, its interim Chief Executive Officer, for a private placement of up to $8 million in common stock. This agreement provides Cyclacel with the ability to direct purchases at a price based on market conditions, offering the company financial flexibility as it progresses in its clinical initiatives.
Further supporting its capital structure, Cyclacel executed a $25 million PIPE financing with Helena Special Opportunities 1 Ltd., allowing for controlled stock sales over a 36-month period, subject to market conditions and regulatory compliance. Additionally, Cyclacel amended its Warrant Exchange Agreement with Armistice Capital Master Fund Ltd., securing stockholder approval for an exchange of 24.8 million shares of common stock and a $1.1 million deferred cash payment.
These transactions are designed to ensure that Cyclacel maintains compliance with Nasdaq Listing Rule 5550(b)(1), which mandates a minimum stockholders’ equity of $2.5 million. The company anticipates formal confirmation from Nasdaq regarding its compliance status in due course.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer treatments targeting cell cycle and transcriptional regulation mechanisms. With a pipeline of promising drug candidates, Cyclacel aims to advance therapeutic options for oncology and hematology indications.
Nigel Wong, Vice President at ARC Group, commented, “Cyclacel’s latest strategic transactions mark a significant step forward in reinforcing the company’s financial foundation while advancing its groundbreaking oncology treatments. The company’s continued dedication to innovative therapies is truly commendable, and we are honored to have played a role in supporting their journey toward long-term success.”
ARC Group is proud to have served as financial advisor in this transaction.
Nigel Wong added, “This transaction underscores ARC Group’s commitment to providing strategic financial guidance to emerging life sciences companies navigating global capital markets. Cyclacel’s drive to push the boundaries of oncology research is inspiring, and we look forward to witnessing their continued growth and success.”
About ARC Group
ARC Group is a globally based investment bank and management consultancy firm, specializing in bridging Asia and the West. Our services encompass a full spectrum of financial solutions, including IPOs, M&A, financing, venture capital, and SPACs. ARC Group also includes an independent consulting division dedicated to addressing the unique challenges faced by companies operating across both Asian and Western markets. Headquartered in Hong Kong, with offices across Mainland China, the USA, Malaysia, Indonesia, Vietnam, India, Sweden, and the UAE, we are well-positioned to provide cross-border financial and advisory services.
Our commitment to anticipating market trends and delivering client-centered solutions has earned ARC Group the Frost & Sullivan 2024 Company of the Year Award in the Asian mid-market investment advisory sector.
For more information or any questions, please contact:
Nigel Wong
Vice President
nigel.wong@arc-group.com
For media inquiries, please contact:
Anna Sahlberg Carlsson
Marketing Manager
anna.sahlberg@arc-group.com
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