TransCode Therapeutics Announces Pricing Of $7.25M Public Offering Of 5,942,623 Shares Of Its Common Stock At A Price Of $1.22/Share
Portfolio Pulse from Benzinga Newsdesk
TransCode Therapeutics, Inc. has announced the pricing of a public offering of 5,942,623 shares and warrants to purchase up to 11,885,246 shares at $1.22 each. The offering is expected to close on January 22, 2024, with H.C. Wainwright & Co. as the placement agent. The gross proceeds are expected to be $7.25 million, which will be used for product development, clinical trials for TTX-MC138, and general corporate purposes.
January 18, 2024 | 6:29 pm
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TransCode Therapeutics is raising $7.25M through a public offering of shares and warrants. The funds will support the development of their lead therapeutic candidate, TTX-MC138, and other corporate activities.
The announcement of a public offering can have a mixed impact on the stock price. While the influx of capital is positive for the company's development activities, the dilution of existing shares can lead to a negative perception among investors. The short-term impact is uncertain, hence a neutral score is given.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100