TransCode Therapeutics, Inc. Announces $8 Million Private Placement

Core Viewpoint - TransCode Therapeutics, Inc. has entered into a securities purchase agreement with institutional investors, expecting to raise approximately $8 million for general corporate purposes and working capital [1][4]. Group 1: Private Placement Details - The company plans to issue a total of 21,220,160 shares of common stock along with Series C and Series D warrants, each allowing the purchase of the same number of shares [2]. - The combined purchase price for each share and accompanying warrants is set at$0.377, in accordance with Nasdaq rules [2]. - Series C warrants will have a term of 5 years with an exercise price of $0.475, while Series D warrants will have a term of 2.5 years, also with an exercise price of$0.475 [2]. Group 2: Closing and Regulatory Aspects - The closing of the private placement is anticipated to occur around November 29, 2024, pending customary closing conditions [3]. - The Benchmark Company, LLC is acting as the exclusive placement agent for this private placement, which is exempt from the registration requirements of the Securities Act of 1933 [4]. Group 3: Company Overview - TransCode Therapeutics is a clinical-stage oncology company focused on treating metastatic disease through RNA therapeutics, utilizing its proprietary TTX nanoparticle platform [6]. - The lead therapeutic candidate, TTX-MC138, targets metastatic tumors that overexpress microRNA-10b, a biomarker associated with metastasis [6]. - The company is also developing a portfolio of first-in-class RNA therapeutic candidates aimed at overcoming RNA delivery challenges to access novel genetic targets for cancer treatment [6].