Clinical-stage biotechnology company TScan Therapeutics, Inc. (TCRX) Thursday announced that it has entered into a securities purchase agreement with Lynx1 Capital Management LP and an investment fund advised by Lynx1. The agreement is for the sale of approximately $30 million of pre-funded warrants to purchase up to an aggregate of 7.5 million shares at a price of $4.00 per pre-funded warrant.
Each warrant will be exercisable to purchase one share of voting common stock at $0.0001 per share, representing a premium of 37%. The offering represents a 34% premium over the 10-day volume weighted average closing price.
The financing is expected to close on or about December 27, 2024.
The $30 million gross proceeds from the sale might be used to fund the company's operations into the first quarter of 2027.
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