TC BioPharm Announces Exercise of Warrants for £3.1 Million Gross Proceeds
EDINBURGH, Scotland, May 6, 2024 /PRNewswire/ — TC BioPharm (Holdings) plc (“TC BioPharm” or the “Company”) (NASDAQ: TCBP), a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 1,750,000 of the Company’s American Depositary Shares (the “ADSs”) originally issued in December 2023 with an exercise price of £1.5814 per ADS and a term of five years. Each ADS represents twenty ordinary shares of the Company. The gross proceeds to the Company from the exercise of the warrants are expected to be approximately £3.1 million, prior to deducting placement agent fees and estimated offering expenses.