BERKELEY HEIGHTS, N.J., July 7, 2011 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (Cyclacel or the Company), today announced that it has closed its previously announced underwritten offering of an aggregate of 7,617,646 units at an offering price of $1.36 per unit for gross proceeds of $10.36 million. Each unit consists of (i) one share of common stock and (ii) a five-year warrant to purchase 0.5 of a share of common stock at an exercise price of $1.36 per share, exercisable beginning six months after the date of issuance. The shares of common stock and warrants are immediately separable and were issued separately such that no units were issued.
