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TransCode Therapeutics Announces Agreement with Triton Funds for Sale of Series A Convertible Preferred Stock
BOSTON, April 03, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (Nasdaq: RNAZ) (the “Company”), an RNA oncology company committed to more effectively
About this update from Transcode Therapeutics, Inc.
[{"type":"text","content":"BOSTON, April 03, 2023 (GLOBE NEWSWIRE) -- TransCode Therapeutics, Inc. (Nasdaq: RNAZ) (the “Company”), an RNA oncology company committed to more effectively treating cancer using RNA therapeutics, today announced that it has entered into a definitive securities purchase agreement with Triton Funds, LP for the sale of 60 shares of the Company’s Series A Convertible Preferred Stock (“Series A Preferred Stock”), each with a stated value of $10,000 per share (the “Stated Value”), for an aggregate purchase price of $500,000 in a registered direct offering. Each share of Series A Preferred Stock is convertible at any time after issuance at the option of the holder into a number of shares of Common Stock equal to (i) the Stated Value of $10,000 per share of Series A Preferred Stock divided by (ii) the conversion price of $0.60, subject to certain conversion price adjustments based on share price performance. The shares of common stock described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-268764) previously filed with the Securities and Exchange Commission (the “SEC”) on December 13, 2022, and declared effective by the SEC on December 16, 2022. The offering of the Series A Preferred Stock is made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About TransCode Therapeutics TransCode is an RNA oncology company created on the belief that cancer can be more effectively treated using RNA therapeutics. The Company has created a platform of drug candidates designed to target a variety of tumor types with the objective of significantly improving patient outcomes. The...