TransCode Therapeutics has entered into a securities purchase agreement with institutional investors for a private placement valued at approximately $8 million before fees and expenses. The company will issue 21.22 million shares of common stock (or pre-funded warrants), along with Series C and Series D warrants to purchase an equal number of shares.The Series C warrants have a 5-year term with an exercise price of $0.475, while Series D warrants have a 2.5-year term at the same exercise price. Both warrant series will become exercisable upon stockholder approval. The combined purchase price for each share and accompanying warrants is $0.377, priced at-the-market under Nasdaq rules.The closing is expected around November 29, 2024, with The Benchmark Company acting as exclusive placement agent. The proceeds will be used for working capital and general corporate purposes. The company believes this financing will help regain compliance with Nasdaq's $2.5 million minimum stockholders' equity requirement.

TransCode Therapeutics has entered into a securities purchase agreement with institutional investors for a private placement valued at approximately $8 million before fees and expenses. The company will issue 21.22 million shares of common stock (or pre-funded warrants), along with Series C and Series D warrants to purchase an equal number of shares.The Series C warrants have a 5-year term with an exercise price of $0.475, while Series D warrants have a 2.5-year term at the same exercise price. Both warrant series will become exercisable upon stockholder approval. The combined purchase price for each share and accompanying warrants is $0.377, priced at-the-market under Nasdaq rules.The closing is expected around November 29, 2024, with The Benchmark Company acting as exclusive placement agent. The proceeds will be used for working capital and general corporate purposes. The company believes this financing will help regain compliance with Nasdaq's $2.5 million minimum stockholders' equity requirement.