Transcode Therapeutics, Inc. has issued an open letter to shareholders dated November 12, 2024, regarding a Special Meeting scheduled for November 22. The meeting's agenda includes a proposal for shareholders to authorize the Board of Directors to effect a reverse stock split if deemed necessary. The company's management and directors are seeking this authorization as a contingency plan to maintain their Nasdaq listing, which is contingent on the company's stock closing at $1.00 per share or more for any ten-day period before December 31, 2024. Failure to meet this requirement could result in Nasdaq delisting, which the company believes would materially affect its value and its ability to raise capital. The need to raise additional capital is urgent for the continuation of clinical trials and other operations. The management and directors of Transcode Therapeutics are unanimously in favor of maintaining the Nasdaq listing and are hopeful that the reverse split will not be necessary.

Transcode Therapeutics, Inc. has issued an open letter to shareholders dated November 12, 2024, regarding a Special Meeting scheduled for November 22. The meeting's agenda includes a proposal for shareholders to authorize the Board of Directors to effect a reverse stock split if deemed necessary. The company's management and directors are seeking this authorization as a contingency plan to maintain their Nasdaq listing, which is contingent on the company's stock closing at $1.00 per share or more for any ten-day period before December 31, 2024. Failure to meet this requirement could result in Nasdaq delisting, which the company believes would materially affect its value and its ability to raise capital. The need to raise additional capital is urgent for the continuation of clinical trials and other operations. The management and directors of Transcode Therapeutics are unanimously in favor of maintaining the Nasdaq listing and are hopeful that the reverse split will not be necessary.