TransCode Therapeutics, Inc., a Delaware-based RNA oncology company, has successfully closed a public offering on January 22, 2024, raising approximately $7.25 million. The offering involved the sale of 5,942,623 shares of common stock or equivalent pre-funded warrants, along with common stock purchase warrants to buy an additional 11,885,246 shares, at a price of $1.22 per share or warrant. The common stock purchase warrants are exercisable at $1.22 per share and will expire three and a half years from the date of issuance. The pre-funded warrants, sold in place of common stock, are exercisable immediately at $0.01 per share and expire upon full exercise. Additionally, placement agent warrants were issued, allowing the purchase of up to 356,557 shares of common stock, exercisable at $1.525 per share. This offering...Show More

TransCode Therapeutics, Inc., a Delaware-based RNA oncology company, has successfully closed a public offering on January 22, 2024, raising approximately $7.25 million. The offering involved the sale of 5,942,623 shares of common stock or equivalent pre-funded warrants, along with common stock purchase warrants to buy an additional 11,885,246 shares, at a price of $1.22 per share or warrant. The common stock purchase warrants are exercisable at $1.22 per share and will expire three and a half years from the date of issuance. The pre-funded warrants, sold in place of common stock, are exercisable immediately at $0.01 per share and expire upon full exercise. Additionally, placement agent warrants were issued, allowing the purchase of up to 356,557 shares of common stock, exercisable at $1.525 per share. This offering was made under a registration statement declared effective by the SEC on January 18, 2024. TransCode Therapeutics intends to use the net proceeds for product development, including clinical trials for its lead therapeutic candidate TTX-MC138, and for general corporate purposes. The company believes that the proceeds from the offering will enable it to meet Nasdaq's stockholders' equity requirement for continued listing, which is currently under review by Nasdaq.