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.
