Cyclerion Therapeutics, Inc. announced that it has entered into a stock purchase agreement to issue 225,000 shares of common stock and 351,037 shares of Series A preferred stock at a price of $8.68 per share for the gross proceeds of $5,000,000 on March 31, 2023. The transaction will include participation from individual investor, Peter M. Hecht. The Series A preferred stock may be converted to common stock on a one-for-one basis at the option of the holder thereof.

The company relied upon the exemptions from registration afforded by Regulation D under, and Section 4(a)(2) of, the Securities Act of 1933, as amended.