Summary by Moomoo AI
TC BioPharm has entered into a $14 million At-The-Market (ATM) Offering Agreement with H.C. Wainwright & Co., LLC on December 16, 2024. Under this agreement, TC BioPharm may offer and sell American Depositary Shares (ADSs) representing ordinary shares through Wainwright as the sales manager. Each ADS represents 200 ordinary shares.The sales will be made through methods permitted by law and deemed "at the market offerings" as defined in Rule 415(a)(4) under the Securities Act. TC BioPharm will pay Wainwright a 3.0% commission on the aggregate gross proceeds from ADS sales and reimburse certain expenses. The offering will terminate upon selling $14 million worth of shares or earlier termination of the agreement.The ADSs are being offered pursuant to TC BioPharm's shelf registration statement filed with the SEC on November 27, 2024, and declared effective on December 11, 2024. This agreement enhances TC BioPharm's financial flexibility by providing access to additional capital as needed.
