2023-05-26 05:36:58 ET
- TScan Therapeutics ( NASDAQ: TCRX ) is down 8.23% after-hours on Thursday after the firm has priced an underwritten public offering of 22.99M shares of its common stock at a public offering price of $2.00 per share, and pre-funded warrants to purchase up to an aggregate of 47.01M shares of its common stock at a price to the public of $1.9999 per pre-funded warrant.
- Underwriters are granted a 30-day option to purchase up to an additional 10.5M shares of its voting common stock at the public offering price.
- Gross proceeds to TScan from this offering are expected to be approximately $140.0 million, assuming no exercise of the underwriter's option to purchase additional shares of voting common stock.
- Offering is expected to close on or about May 31, 2023 for the voting common stock, and June 1, 2023 for the pre-funded warrants, in each case.
- Net proceeds from the offering will be used for general corporate purposes.
- After this offering, the Company expects its existing cash and cash equivalents will enable it to fund its operating expenses and capital expenditure requirements into 2026.
For further details see:
TScan Therapeutics stock slides on pricing $140M securities offering