Cyclacel Pharmaceuticals, Inc. Announces Execution of Share Exchange Agreement with FITTERS Diversified Berhad

Our client, Cyclacel Pharmaceuticals, Inc. (“Cyclacel”) (NASDAQ: CYCC, NASDAQ: CYCCP), a biopharmaceutical company that develops innovative cancer medicines,  has announced that it has entered into an Exchange Agreement with FITTERS Diversified Berhad (9318.KL; “FITTERS”)  to acquire its wholly-owned subsidiary, Fitters Sdn. Bhd. a Malaysia-based private limited company formed in 1972, specializing in distributing, trading and installing various protective and fire safety materials and equipment and fire protection and prevention systems with a reputation for reliability and compliance with stringent regulatory standards.

At the closing, Cyclacel will own 100% of Fitters Sdn. Bhd and it is expected that its stockholders will own approximately 80.01% of the combined company.  Cyclacel expects that its common stock will continue to be listed on the Nasdaq Capital Market under a new ticker symbol and will be renamed Bio Green Med Solution, Inc.

Rimon attorneys Debbie Klis, Marc C. Lee and Olivia Wang advised Cyclacel Pharmaceuticals, Inc.

We congratulate Cyclacel Pharmaceuticals, Inc. on this news!

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Rimon’s Securities and Capital Markets attorneys have decades of experience representing sponsors, issuers, investment banks, underwriters, and shareholders operating across a wide variety of industries in connection with major securities offerings as well as regulatory and compliance issues.  As a truly global firm, we have attorneys located in all the key international financial centers and have extensive experience representing our clients in cross-border capacities. Read more here