Cynata Therapeutics Limited (ASX:CYP) announced a heavily oversubscribed private placement of 9,230,000 shares at AUD 0.65 per share for gross proceeds of AUD 5,999,500 on January 23, 2017. The transactions will include participation from existing and new sophisticated and institutional investors. The settlement of the shares will be on or about January 27, 2017 and shares will be issued on January 30, 2017. The transaction is not subject to approval from the shareholders of the company.