TScan Therapeutics, Inc. (TCRX), a company at the forefront of clinical-stage biotechnology, announced on Thursday its entry into a securities purchase agreement with Lynx1 Capital Management LP and an associated investment fund. This agreement involves the sale of pre-funded warrants, amounting to roughly $30 million. These warrants allow for the purchase of up to 7.5 million shares at a price of $4.00 each.
Each pre-funded warrant is convertible into one share of voting common stock at an exercisable price of $0.0001 per share, offering a 37% premium. This offering further stands at a 34% premium compared to the 10-day volume-weighted average closing price.
The transaction is anticipated to conclude around December 27, 2024. The gross proceeds of $30 million are projected to support the company's operational requirements through the first quarter of 2027.
The material has been provided by InstaForex Company - www.instaforex.com
Each pre-funded warrant is convertible into one share of voting common stock at an exercisable price of $0.0001 per share, offering a 37% premium. This offering further stands at a 34% premium compared to the 10-day volume-weighted average closing price.
The transaction is anticipated to conclude around December 27, 2024. The gross proceeds of $30 million are projected to support the company's operational requirements through the first quarter of 2027.
The material has been provided by InstaForex Company - www.instaforex.com