TScan Therapeutics, Inc. Announces Pricing of Initial Public Offering

Rhea-AI Summary

TScan Therapeutics announced the pricing of its initial public offering (IPO) on July 15, 2021, of 6,666,667 shares at a price of $15.00 each, raising $100 million before expenses. The offering will close around July 20, 2021, pending customary conditions. An additional 1,000,000 shares may be purchased by underwriters within 30 days. The stock is set to trade on Nasdaq under the symbol TCRX starting July 16, 2021. The company specializes in T-cell receptor-engineered therapies for cancer treatment.

Positive

• Initial public offering raises $100 million for development of cancer therapies.
• Potential for growth with underwriters having an option to purchase up to 1 million additional shares.

Negative

• None.

WALTHAM, Mass., July 15, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (TScan), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced the pricing of its initial public offering of 6,666,667 shares of common stock at a public offering price of $15.00 per share, for gross proceeds of $100.0 million, before underwriting discounts, commissions, and offering expenses payable by TScan. In addition, TScan has granted the underwriters an option for a period of 30 days to purchase up to 1,000,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered and sold by TScan.

TScan’s common stock is expected to begin trading on The Nasdaq Global Market on July 16, 2021 under the symbol “TCRX.” The offering is expected to close on or about July 20, 2021, subject to the satisfaction of customary closing conditions.

Morgan Stanley, Jefferies, Cowen and Barclays are acting as Joint Book-running Managers for the offering.

A registration statement relating to the offering of these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on July 15, 2021. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. The securities referred to in this release are to be offered only by means of a prospectus. A preliminary prospectus describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. When available, a copy of the final prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by e-mail at prospectus_department@jefferies.com; Cowen and Company LLC at c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; and Barclays Capital Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-888-603-5847 or by email at barclaysprospectus@broadridge.com.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About TScan Therapeutics, Inc.

TScan is a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer. The company’s lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.

Contacts

Media Contact:
David Rosen
Argot Partners
212-600-1902
david.rosen@argotpartners.com

Investor Contact:
Sherri Spear
Argot Partners
212-600-1902
sherri@argotpartners.com

FAQ

What is the pricing of TScan Therapeutics' IPO?

TScan Therapeutics' IPO is priced at $15.00 per share.

How much money will TScan Therapeutics raise from the IPO?

TScan Therapeutics will raise gross proceeds of $100 million from the IPO.

When will TScan Therapeutics begin trading on Nasdaq?

TScan Therapeutics is expected to begin trading on Nasdaq on July 16, 2021.

What is the stock symbol for TScan Therapeutics?

The stock symbol for TScan Therapeutics is TCRX.

What are TScan Therapeutics' main focus areas?

TScan Therapeutics focuses on developing T-cell receptor engineered therapies for cancer treatment.