TransCode Therapeutics Announces $10M Stock And Warrant Offering

(RTTNews) - TransCode Therapeutics, Inc. (RNAZ) Monday has entered an agreement to sell 10.25 million shares of common stock and an equal number of warrants at $0.98 per unit, in compliance with Nasdaq's at-the-market pricing rules.

The warrants, exercisable at $0.86 per share, will be valid for five years from issuance.

The offering, expected to close on March 25, 2025, is anticipated to generate approximately $10 million in gross proceeds before deducting expenses.

The company plans to use the funds for product development, including clinical trials for its lead therapeutic candidate, TTX-MC138, as well as related studies and general corporate purposes.

Monday, RNAZ closed at $0.6927, down 38.15%, and rose 2.21% in after-hours trading to close at $0.708 on the Nasdaq Capital Market.