Tscan therapeutics announces pricing of $140 million public offering

Waltham, mass., may 26, 2023 (globe newswire) -- tscan therapeutics, inc. (nasdaq: tcrx), a clinical-stage biopharmaceutical company focused on the development of t cell receptor (tcr)-engineered t cell therapies (tcr-t) for the treatment of patients with cancer, today announced the pricing of an underwritten public offering of 22,989,474 shares of its voting common stock at a public offering price of $2.00 per share, and pre-funded warrants to purchase up to an aggregate of 47,010,526 shares of its common stock at a price to the public of $1.9999 per pre-funded warrant, which represents the per share public offering price for the voting common stock less the $0.0001 per share exercise price for each such pre-funded warrant. in addition, tscan has granted the underwriters a 30-day option to purchase up to an additional 10,500,000 shares of its voting common stock at the public offering price, less underwriting discounts and commissions. the gross proceeds to tscan from this offering are expected to be approximately $140.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by tscan, assuming no exercise of the underwriter's option to purchase additional shares of voting common stock. the offering is expected to close on or about may 31, 2023 for the voting common stock, and june 1, 2023 for the pre-funded warrants, in each case, settlement is subject to customary closing conditions.
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