TransCode Therapeutics (RNAZ) said Wednesday it has signed a deal with certain institutional investors for a securities' sale worth roughly $8 million.
The sale, which is expected to close Friday, includes about 21.2 million common shares, series C warrants to purchase about 21.2 million common shares, and series D warrants to purchase about 21.2 million common shares.
Net proceeds will be allocated towards working capital and general corporate purposes, the company said.
Shares of TransCode Therapeutics fell more than 9% in recent trading activity.
Price: 0.34, Change: -0.04, Percent Change: -9.81
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