TCBP - TC BioPharm slumps 36% after pricing $4M public offering

TC BioPharm (NASDAQ:TCBP) stock fell ~36% premarket June 3 after the company priced a public offering of 10M American Depositary Shares (ADSs) at $0.40 per ADS for gross proceeds of $4M. The company announcement came in a post-market June 2 release. Each ADS represents one ordinary share. The company also granted the underwriters a 45-day option to buy up to an additional 1.5M ADSs at the offering price. The offering is expected to close around June 7, subject to conditions. TCBP -35.77% to $0.39 premarket June 3

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TC BioPharm slumps 36% after pricing $4M public offering