India, March 24 -- 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.
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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 ...