RNAZ - TransCode Therapeutics Announces Closing of $1.2 Million Registered Direct Offering of Common Stock Priced At-The-Market under Nasdaq Rules | Benzinga
BOSTON, Dec. 04, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (NASDAQ:RNAZ) (the "Company"), an RNA oncology company committed to more effectively treating cancer using RNA therapeutics, today announced that it has closed its previously announced registered direct offering for the purchase and sale of 5,000,000 shares of common stock at a purchase price of $0.242 per share of common stock priced at-the-market under Nasdaq rules.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds to the Company from this offering were $1.2 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering, together with its existing funds, for one or more clinical trials with TTX-MC138, its lead therapeutic candidate, including related investigational new drug enabling studies, and for working capital and other general corporate purposes.
The shares of common stock described above were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-268764) previously filed with the Securities and Exchange Commission (the "SEC") on December 13, 2022, and declared effective by the SEC on December 16, 2022. The offering of the shares of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final ...