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Lucosky Brookman is a leader in the representation of small and micro-cap companies. The Firm has led it clients through numerous capital raise transaction and over a dozen uplisting and initial public offering transactions.  Access the latest news about Lucosky Brookman, our clients’ business transactions and industry updates here. 

Lucosky Brookman LLP Successfully Represents EF Hutton in $16.3 Million Initial Public Offering and Nasdaq Listing of TC Biopharm

Lucosky Brookman congratulates its client, EF Hutton, division of Benchmark Investments, LLC, on its successful $16.3 million initial public offering of TC Biopharm (Holdings) PLC (Nasdaq: TCBP; TCBPW), a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer and viral indications. The offering  consists of 3,823,530 American Depositary Shares (the “ADSs”) and warrants (the “Warrants”) to purchase up to 7,647,060 ADSs, for aggregate gross proceeds of approximately $16.3 million, prior to deducting underwriting discounts, commissions, and other offering expenses.  Each ADS represents one ordinary share, and each Warrant represents the right to purchase one ADS. The ADSs and Warrants will be separately issued but the ADSs and Warrants will be sold to purchasers only in a combination of one ADS and two Warrants, for a combined aggregate offering price of $4.25. Each Warrant will be immediately exercisable for one ordinary share, that will then be deposited with the custodian for the issuance of a corresponding ADS at an exercise price of $4.25 per ADS and expire six years after the issuance date. 

The Company intends to use the net proceeds from the offering to finance the cost of treating patients under our proposed clinical trials OmnImmune® (TCB 008-001), a phase 2b-into-pivotal (phase 3) trial for the treatment of acute myeloid leukemia) and ImmuniStim® (TCB 008-002) (for the treatment of COVID-19 infections) and to continue the research and development of our proposed GD-T CAR therapies to treat sold cancers, as well as financing our operating overhead costs, capital expenditure and limited repayment of convertible loan notes.

Lucosky Brookman represented EF Hutton in its capacity as sole book-running manager.