TScan Therapeutics (TCRX) said Thursday that it signed a securities purchase agreement with Lynx1 Capital Management and an investment fund advised by Lynx1 for the sale of about $30 million of pre-funded warrants.
Under the terms of the deal, the warrants allow Lynx1 to purchase up to 7.5 million shares of TScan's voting common stock for $4 per pre-funded warrant, representing a premium of 37% to the last closing price of TScan's common stock and a 34% premium over the 10-day volume weighted average closing price, according to TScan.
The financing is expected to close Friday, the company added.
Shares of TScan jumped more than 20% in recent premarket activity Thursday.
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