CYCC - Cyclacel proposes capital raise through underwritten public offering

Cyclacel Pharmaceuticals (CYCC) announces that it intends to offer shares for sale in an underwritten public offering.Intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares.Cyclacel did not provide further financial details on the offering.The company intends to use the net proceeds to support its growth strategy and for working capital and general corporate purposes, including research and development expenses, and capital expenditures.Oppenheimer is acting as the sole book-running manager for the offering.

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Cyclacel proposes capital raise through underwritten public offering