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8-K: Current report

SEC announcement ·  May 8 08:58
Summary by Moomoo AI
On May 6, 2024, TC BioPharm (Holdings) PLC, a clinical-stage biotechnology company, announced the successful inducement of warrant holders to exercise their existing Series E warrants, resulting in expected gross proceeds of approximately £3.1 million. The exercised warrants, originally issued on December 21, 2023, with an exercise price of £1.5814 per ADS, will fund the company's upcoming clinical trial for Acute Myeloid Leukemia and other operational expenses. In exchange for the cash exercise of the existing warrants and a payment of £0.099625 per new warrant, the company will issue new Series F warrants with an exercise price of £1.175 per ADS, immediately exercisable and valid for forty-two months. H.C. Wainwright & Co. served as the exclusive placement agent for the transaction, receiving a cash fee...Show More
On May 6, 2024, TC BioPharm (Holdings) PLC, a clinical-stage biotechnology company, announced the successful inducement of warrant holders to exercise their existing Series E warrants, resulting in expected gross proceeds of approximately £3.1 million. The exercised warrants, originally issued on December 21, 2023, with an exercise price of £1.5814 per ADS, will fund the company's upcoming clinical trial for Acute Myeloid Leukemia and other operational expenses. In exchange for the cash exercise of the existing warrants and a payment of £0.099625 per new warrant, the company will issue new Series F warrants with an exercise price of £1.175 per ADS, immediately exercisable and valid for forty-two months. H.C. Wainwright & Co. served as the exclusive placement agent for the transaction, receiving a cash fee of 7.5% of the gross proceeds, a management fee, and reimbursement for expenses. The closing of the transactions is expected on May 8, 2024, subject to customary conditions. The company also committed to filing a registration statement for the resale of the new warrant ADSs within 30 days post-closing. The announcement was made in conjunction with a press release and a filing with the SEC on Form 8-K.

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