TScan Therapeutics prices $140M public offering of common stock and pre-funded warrants

TScan Therapeutics, Inc.

Gross proceeds of ~$140M from 22.99M shares at $2.00/share and 47.01M pre-funded warrants at $1.9999 each.
Net proceeds estimated at $134.7M after underwriting discounts and expenses.
Underwriters granted 30-day option to purchase up to 10.5M additional shares.
Proceeds for general corporate purposes; existing cash plus offering expected to fund operations into 2026.
Offering closed May 31 for shares and June 1 for warrants; Morgan Stanley and Wedbush lead.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TScan Therapeutics, Inc. entered into Underwriting Agreement with Morgan Stanley & Co. LLC and Wedbush Securities Inc., as representatives (effective 2023-05-25).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC and Wedbush Securities Inc., as representatives
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, TScan Therapeutics, Inc. (the “ Company ”) entered into an underwriting agreement (the “ Underwriting Agreement ”) with Morgan Stanley & Co. LLC and Wedbush Securities Inc., as representatives (the “ Representatives ”) of the underwriters named therein

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TScan Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-157307

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