08:12 AM EDT, 10/09/2024 (MT Newswires) -- 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.

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