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CYCCP Cyclacel Pharmaceuticals Inc. 6% Convertible Preferred Stock

The holders of convertible preferred stock are entitled to receive cash dividends at an annual rate of 6% of the liquidation preference of the convertible preferred stock. Dividends will be payable in equal quarterly installments on the first day of February, May, August and November beginning February 1, 2005. If any dividends are not declared, they will accrue and be paid at such later date, if any, as determined by Xcyte’s board of directors. Dividends on the convertible preferred stock will be cumulative from the issue date. Each share of the convertible preferred stock is convertible at any time at the option of the holder into a number of shares of common stock determined by dividing the $10 liquidation preference by the conversion price of $2.35, subject to adjustment as described below. This conversion price is equivalent to a conversion rate of approximately 4.2553 shares of common stock for each share of convertible preferred stock. Unless Xcyte redeems or exchanges the convertible preferred stock, it may elect to convert some or all of the convertible preferred stock into shares of Xcyte common stock if the closing price of Xcyte common stock has exceeded 150% of the conversion price for at least 20 out of 30 consecutive trading days ending within five trading days prior to the notice of automatic conversion.  This security was issued by Cyclacel Pharmaceuticals Inc, whose common stock symbol is CYCC.

$15.75  +0.35 (2.27%)
As of 03/24/2023 16:00:00 EST     IEX book   CBOE book

Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Convertible
GICS sector:  Health Care
Industry:  Biotechnology
Index country:  USA
Country of incorporation:  USA
IPO date:  11/30/2005
Outstanding shares:  335,273
Average volume:  5,682
Market cap:   $4,073,567
Current dividend yield:  4.94%    calculation
Coupon rate:    6.000%
Cumulative:    Yes
Liquidation value:   $10.00
Callable after:   11/01/2014
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K

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