On May 2, 2024, Cyclacel Pharmaceuticals, Inc., closed the transaction. The company has paid 7% as placement agent fee and 1% as a management fee and warrant to placement agent to purchase up to an aggregate of 298,137 shares of common stock at an exercise price equal to $2.0125 per share. The placement agent warrants are exercisable immediately upon issuance and have a term of exercise equal to five and a half years from the date of issuance.

The company has received $$8,000,000 from single investor pursuant to exemption provided under Regulation D.