other material
confidence high
sentiment negative
materiality 0.65
Cyclacel raises $2.1M via warrant exercise, issues new warrants for ~19.9M shares
Bio Green Med Solution, Inc.
- Gross proceeds ~$2.1M from cash exercise of 4,968,945 Series B warrants at reduced price $0.415/share.
- Holder received new Series C warrants (9,937,890 shares) and Series D warrants (9,937,890 shares) exercisable at $0.415 after stockholder approval.
- Placement agent H.C. Wainwright received PA warrants for 298,137 shares at $0.5188/share plus 7% cash fee.
- Net proceeds intended for working capital and general corporate purposes.
- New warrants unregistered; resale registration statement to be filed within 30 days of agreement.