Wolves have completed the signing of Adam Le Fondre on a season-long loan from Cardiff.
Brazilian right-back Rafael has agreed to move to Lyon from Manchester United.
Wolves have added versatile Wigan winger Nouha Dicko to their ranks ahead of the close of the loan window on Thursday evening.
The 20-year-old arrives at Molineux on a deal until the end of the season and will provide crucial cover after Bakary Sako was ruled out for at least six weeks with a hamstring injury.
Manager Dean Saunders had made no secret of his desire to bolster his forward options ahead of the run-in as struggling Wolves strive to secure their Championship status.
Frenchman Dicko joined Wigan in 2011 and has since enjoyed two lengthy loan spells with Championship side Blackpool, the most recent of which ending in January.
Saunders, who has also snapped up goalkeeper Marian Kello on a short-term deal, told the club's official website: "It has been difficult to bring players in but we have managed to bring in two new faces.
"We needed to do something having lost three players a fortnight ago, and Nouha will bring something different for us.
"He is a young player with good pace and that is something I think will be important for us over the final eight games.
"He is someone who can play across any of the forward positions, whether out wide or down the middle, and I think that pace could be vital, especially away from home.
"He's due to join up with us on Friday provided the confirmation goes through and will be available for selection for Saturday's game."