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TC Biopharm (Holdings) PLC Launches $14M ATM Offering: December 2024 Report

$TCBP
Form 6-K
Filed on: 2024-12-17
Source
TC Biopharm (Holdings) PLC Launches $14M ATM Offering: December 2024 Report

Key Information Extracted from the Financial Report (Form 6-K):

  1. Company Information:
  • Name: TC Biopharm (Holdings) PLC
  • Commission File Number: 001-41231
  • Address: Maxim 1, 2 Parklands Way, Holytown, Motherwell, ML1 4WR, Scotland, United Kingdom
  • Contact Number: +44 (0) 141 433 7557
  1. Reporting Period:
  • For the Month of: December 2024
  1. Offering Agreement:
  • Type: At The Market Offering Agreement (ATM Agreement)
  • Date of Agreement: December 16, 2024
  • Sales Manager: H.C. Wainwright & Co., LLC
  • Aggregate Sales Price: Up to $14,000,000
  • Shares Offered: American Depositary Shares (ADSs) representing ordinary shares, with each ADS representing 200 Shares.
  1. Sales Process:
  • Sales of ADSs may occur through methods permitted by law, including direct sales on The Nasdaq Stock Market LLC.
  • Wainwright will utilize commercially reasonable efforts to sell the ADSs based on the Company's instructions.
  1. Commission and Fees:
  • Wainwright will receive a commission of 3.0% of the gross proceeds from sales of ADSs.
  • The company will reimburse Wainwright for certain specified expenses related to the ATM Agreement.
  1. Termination Conditions:
  • The ATM Agreement allows the Company to suspend solicitation and offers at any time.
  • The offering terminates upon reaching the $14,000,000 sale limit or by mutual agreement to terminate.
  1. Registration Statement:
  • The ADSs are being offered under a shelf registration statement on Form F-3, with an accompanying prospectus filed on November 27, 2024, and declared effective on December 11, 2024.
  1. Legal Opinion:
  • An opinion from Addleshaw Goddard LLP regarding the securities to be sold is included as an exhibit.
  1. Disclaimer:
  • The report states that it does not constitute an offer to sell or a solicitation to buy securities unlawfully.
  1. Signature:
    • Authorized Signatory: Martin Thorp, Chief Financial Officer
    • Date of Signature: December 17, 2024

Insights:

  • TC Biopharm is actively seeking to raise capital through an ATM offering, which allows flexibility in terms of timing and pricing of sales.
  • The engagement with H.C. Wainwright & Co. indicates a strategic partnership to facilitate the sale of shares, which could enhance market presence and liquidity.
  • The 3% commission is standard for such arrangements, reflecting the costs associated with raising funds in the public market.
  • The ability to suspend the offering provides the company with control over the fundraising process, which is crucial in volatile market conditions.