EDINBURGH, Scotland, Dec. 19,
2023 /PRNewswire/ -- TC BioPharm (Holdings) plc ("TC
BioPharm" or the "Company") (NASDAQ: TCBP), a clinical stage
biotechnology company developing platform allogeneic gamma-delta T
cell therapies for cancer, today announced the pricing of a
public offering of 1,750,000 of its American Depositary Shares (the
"ADSs") (or pre-funded warrants in lieu thereof), together with
Series E warrants (the "Series E Warrants") to purchase up to
1,750,000 of its ADSs at a public offering price of $2.00 per ADS (or pre-funded warrant in lieu
thereof) and associated Series E Warrant. The Series E Warrants
will have an exercise price of £1.5814 per ADS, are
exercisable upon issuance and will expire five years following the
date of issuance. Each ADS represents twenty ordinary shares
of the Company. The closing of the offering is expected to occur on
or about December 21, 2023, subject
to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds to the Company from the offering are expected
to be $3.5 million, before deducting
the placement agent's fees and other offering expenses payable by
the Company. The Company intends to use the net proceeds from
this offering to support its upcoming clinical trial focusing on
relapse/refractory Acute Myeloid Leukemia, and for continuing
operating expenses and working capital.
A registration statement on Form F-1 (File No. 333-274244)
relating to the securities described above has been filed with the
Securities and Exchange Commission, or the SEC, and was declared
effective by the SEC on December 18,
2023. The offering will be made only by means of a
prospectus, which is part of the effective registration statement.
A preliminary prospectus relating to the offering has been filed
with the SEC. When available, electronic copies of the final
prospectus may be obtained for free on the SEC's website located
at http://www.sec.gov and may also be obtained by contacting
H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor,
New York, NY 10022, by phone at
(212) 856-5711 or e-mail at placements@hcwco.com.
The Company also has agreed that a certain existing warrant to
purchase up to an aggregate of 623,750 ADSs of the Company
that was previously issued on September 5,
2023, at an exercise price of £7.00 per ADS and an
expiration date of March 5, 2029,
will be amended effective upon the closing of the offering so that
the amended warrant will have a reduced exercise price of
£1.5814 per ADS.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About TC BioPharm (Holdings) PLC
TC BioPharm is a clinical-stage biopharmaceutical company
focused on the discovery, development and commercialization of
gamma-delta T cell therapies for the treatment of cancer with human
efficacy data in acute myeloid leukemia. Gamma-delta T cells are
naturally occurring immune cells that embody properties of both the
innate and adaptive immune systems and can intrinsically
differentiate between healthy and diseased tissue. TC BioPharm uses
an allogeneic approach in both unmodified and CAR modified
gamma-delta T cells to effectively identify, target and eradicate
both liquid and solid tumors in cancer. TC BioPharm is the leader
in developing gamma-delta T cell therapies, and the first company
to conduct phase II/pivotal clinical studies in oncology. The
Company is conducting two investigator-initiated clinical trials
for its unmodified gamma-delta T cell product line - Phase
2b/3 pivotal trial for OmnImmune® in
treatment of acute myeloid leukemia using the Company's proprietary
allogeneic CryoTC technology to provide frozen product to clinics
worldwide. TC BioPharm also maintains a robust pipeline for future
indications in solid tumors as well as a significant IP/patent
portfolio in the use of CARs with gamma-delta T cells and owns our
manufacturing facility to maintain cost and product quality
controls.
Forward Looking Statements
This press release may contain statements of a forward-looking
nature relating to future events, including, but not limited to,
statements relating to closing of the offering and satisfaction of
closing conditions of the offering, the expected gross proceeds
from the offering and statements regarding the anticipated use of
proceeds from the offering. These forward-looking statements are
subject to the inherent uncertainties in predicting future results
and conditions. These statements reflect our current beliefs, and a
number of important factors could cause actual results to differ
materially from those expressed in this press release. We undertake
no obligation to revise or update any forward-looking statements,
whether as a result of new information, future events or otherwise.
The reference to the website of TC BioPharm has been provided as a
convenience, and the information contained on such website is not
incorporated by reference into this press release.
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SOURCE TC BioPharm