TransCode Therapeutics Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits
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TransCode Therapeutics, Inc.
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Item 1.01 Entry into a Material Definitive Agreement.
On March 23, 2025, TransCode Therapeutics, Inc., a Delaware corporation (the “Company”), entered into a Placement Agency Agreement (the “Agreement”) with ThinkEquity LLC (the “Placement Agent”), pursuant to which the Company agreed to issue and sell, directly to various investors, in a registered direct offering (the “Offering”), an aggregate of 10,250,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share, (the “Common Stock”) and 10,250,000 Common Warrants (the “Common Warrants”) to purchase 10,250,000 shares of Common Stock, at an aggregate offering price of $0.98 per share of Common Stock and accompanying Common Warrant. Additionally, as part of its compensation for acting as placement agent for the Offering, the Company also agreed to issue to the Placement Agent, warrants to purchase 512,500 shares of Common Stock (the “Placement Agent Warrants,” and together with the Shares and the Common Warrants, the “Securities”). The Company is expected to receive gross proceeds of approximately $10 million in connection with the Offering, before deducting placement agent fees and other offering expenses payable by the Company. The Offering is expected to close on March 25, 2025.
The Securities sold in the Offering were offered and sold pursuant to a registration statement on Form S-3 (File No. 333-268764), which was filed with the Securities and Exchange Commission (the “Commission”) on December 13, 2022, and was declared effective by the Commission on December 16, 2022 (the “Registration Statement”). A copy of the opinion of Goodwin Procter LLP relating to the legality of the issuance and sale of the Securities in the Offering is attached as Exhibit 5.1 hereto.
The Common Warrants are exercisable commencing March 25, 2025, expire on March 25, 2030, and have an exercise price equal to $0.86 per share. The Placement Agent Warrants are exercisable commencing March 25, 2025, expire on March 25, 2030, and have an exercise price equal to $1.07 per share.
The representations, warranties and covenants contained in the Agreement were made solely for the benefit of the parties to the Agreement. In addition, such representations, warranties and covenants (i) are intended as a way of allocating the risk between the parties to the Agreement and not as statements of fact, and (ii) may apply standards of materiality in a way that is different from what may be viewed as material by stockholders of, or other investors in, the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Agreement, which subsequent information may or may not be fully reflected in public disclosures.
This Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
The foregoing descriptions of the Agreement, Common Warrants and Placement Agent Warrants are not complete and are qualified in their entirety by references to the full text of the Agreement, Form of Common Warrant and Form of Placement Agent Warrant which are filed as exhibits to this report and are incorporated by reference herein.
Item 8.01 Other Events.
On March 23, 2025, the Company issued a press release announcing the pricing of the Offering.
A copy of the press release is attached as Exhibits 99.1 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 4.1 | Form of Common Warrant | |
| 4.2 | Form of Placement Agent Warrant | |
| 5.1 | Opinion of Goodwin Procter LLP | |
| 10.1 | Placement Agency Agreement | |
| 23.1 | Consent of Goodwin Procter LLP (included in Exhibit 5.1) | |
| 99.1 | Press Release, dated March 23, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TransCode Therapeutics, Inc. | ||
| Date: March 25, 2025 | By: | /s/ Thomas A. Fitzgerald |
| Thomas A. Fitzgerald | ||
| Interim Chief Executive Officer and Chief Financial Officer | ||