BriaCell raises $30M in unit and warrant offering

BriaCell Therapeutics Corp. completed a public offering of 4,327,530 Common Units and 1,039,196 Pre-funded Units at $5.59 per Common Unit and $5.589 per Pre-funded Unit, generating aggregate gross proceeds of approximately $30 million before fees and expenses.

Rhea-AI Filing Summary

BriaCell Therapeutics Corp. completed a public offering of 4,327,530 Common Units and 1,039,196 Pre-funded Units at $5.59 per Common Unit and $5.589 per Pre-funded Unit, generating aggregate gross proceeds of approximately $30 million before fees and expenses. Each Common Unit includes one common share and one five-year warrant, while each Pre-funded Unit includes a pre-funded warrant priced at $0.001 per share plus one warrant; each warrant is exercisable at $6.93 per share and trades on Nasdaq under the symbol BCTXL. The company also issued placement agent warrants to purchase up to 161,001 common shares at $8.385 per share and paid the placement agent a 6.25% cash fee on gross proceeds. BriaCell plans to use the net proceeds for working capital, general corporate purposes, and to advance its business objectives, with all securities issued under effective Form S-1 registration statements.

Insights

Capital markets and biotech financing analyst

BriaCell raises about $30 million through a unit and warrant financing that adds future equity overhang.

BriaCell Therapeutics Corp. sold 4,327,530 Common Units and 1,039,196 Pre-funded Units at prices of $5.59 and $5.589 respectively, for aggregate gross proceeds of approximately $30 million before fees. Each Common Unit includes one common share and a five-year warrant, and each Pre-funded Unit includes a pre-funded warrant plus a five-year warrant, so the transaction immediately boosts cash while also creating multiple layers of potential future share issuance.

The warrants are exercisable at $6.93 per share and began trading on the Nasdaq Capital Market under the symbol BCTXL, while the pre-funded warrants are exercisable at $0.001 per share until fully exercised. Additional placement agent warrants cover up to 161,001 common shares at an exercise price of $8.385, adding a smaller, higher-strike layer of optional dilution. A beneficial ownership cap of up to 9.99% limits how much of the company any holder can own immediately after exercising these instruments.

The company intends to use net proceeds for working capital, general corporate purposes, and advancement of business objectives, so the cash inflow supports ongoing operations and development. Execution details such as the best efforts placement via ThinkEquity and the 6.25% cash fee clarify cost of capital, while the five-year warrant term and trading of the warrants as BCTXL mean potential future exercises and related share issuance could extend over several years, depending on market conditions and holder decisions.

8-K Event Classification

3 items: 1.01, 8.01, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

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What did BriaCell Therapeutics Corp. (BCTX) announce in this 8-K?

BriaCell Therapeutics Corp. reported that it completed a public offering of 4,327,530 Common Units and 1,039,196 Pre-funded Units, generating aggregate gross proceeds of approximately $30 million before placement agent fees and offering expenses.

How are BriaCell (BCTX) Common Units and Pre-funded Units structured?

Each Common Unit consists of one common share and one five-year warrant to purchase one common share. Each Pre-funded Unit consists of a pre-funded warrant to purchase one common share and one five-year warrant.

What are the exercise prices and terms of BriaCell (BCTX) warrants?

The Pre-funded Warrants are immediately exercisable at $0.001 per share until exercised in full. Each five-year Warrant is immediately exercisable at $6.93 per share and began trading on the Nasdaq Capital Market under the symbol BCTXL.

What placement agent compensation did BriaCell (BCTX) provide in this offering?

BriaCell paid ThinkEquity LLC a cash fee equal to 6.25% of the aggregate gross proceeds and issued Placement Agent Warrants to purchase up to 161,001 common shares at an exercise price of $8.385 per share.

How will BriaCell Therapeutics Corp. (BCTX) use the net proceeds from the offering?

The company intends to use the net proceeds from the sale of its securities for working capital requirements, general corporate purposes, and the advancement of its business objectives.

Are there ownership limits on exercising BriaCell (BCTX) warrants and pre-funded warrants?

Yes. A holder and its affiliates generally may not exercise Warrants or Pre-funded Warrants if it would own more than 4.99%, or 9.99% if elected, of outstanding common shares immediately after exercise, subject to certain notice-based adjustments.

Under which registration statements were BriaCell (BCTX) securities offered?

The Common Units, Pre-funded Units, related common shares, Warrants, Pre-funded Warrants, Placement Agent Warrants, and underlying common shares were offered and sold under BriaCell’s effective Registration Statements on Form S-1, File Nos. 333-292388 and 333-292716.

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Accepted by SEC EDGAR 01/15/2026 - 04:15 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 13, 2026

BRIACELL THERAPEUTICS CORP.

(Exact name of registrant as specified in its charter)

British Columbia A1		47-1099599
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

Suite 300 - 235 15th Street West Vancouver, BC		V7T 2X1
(Address of principal executive offices)		(Zip Code)

(604) 921-1810

(Registrant’s telephone number, including area code)

Commission File No. 001-40101

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered under Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, no par value		BCTX		The Nasdaq Stock Market LLC
Warrants to purchase common shares, no par value		BCTXW		The Nasdaq Stock Market LLC
Warrants to purchase common shares, no par value		BCTXZ		The Nasdaq Stock Market LLC
Warrants to purchase common shares, no par value		BCTXL		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On January 15, 2026, BriaCell Therapeutics Corp. (the “Company”) consummated a public offering of 4,327,530 units (the “Common Units”) and 1,039,196 pre-funded units (“Pre-funded Units”) for a purchase price of $5.59 per Common Unit and $5.589 per Pre-funded Unit, resulting in aggregate gross proceeds of approximately $30 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from the sale of its securities for working capital requirements, general corporate purposes, and the advancement of business objectives. In connection with the offering the Company issued the placement agent or its designees warrants (the “Placement Agent Warrants”) to purchase up to 161,001 common shares. The Placement Agent Warrants have an exercise price of $8.385, are immediately exercisable and will expire on January 13, 2031.

The Securities Offered

Each Common Unit consists of (i) one common share, no par value per share, and (ii) one warrant (the “Warrants”) to purchase one common share (the “Common Warrant Shares”). Each Pre-funded Unit consists of (i) one pre-funded warrant (the “Pre-funded Warrants”) to purchase one common share (the “Pre-funded Warrant Shares”), and (ii) one Warrant. The Pre-funded Warrants are immediately exercisable at an exercise price of $0.001 per share and will remain exercisable until exercised in full. Each Warrant will be immediately exercisable upon issuance for a period of five years following the date of issuance. On January 14, 2026, the Warrants commenced trading on the Nasdaq Capital Market under the symbol “BCTXL.” Each Warrant will entitle the holder to purchase one common share at an exercise price of $6.93.

The common shares and accompanying Warrants included in each Common Unit were issued separately, and the Pre-funded Warrants and the accompanying Warrants included in each Pre-funded Unit were issued separately. The Common Units and Pre-funded Units have no stand-alone rights and were not issued or certificated.

The exercise price of the Warrants and the Pre-funded Warrants and number of common shares issuable upon exercise will adjust in the event of certain share dividends and distributions, share splits, share combinations, reclassifications or similar events.

The Warrants may be exercised on a cashless basis if at the time of exercise thereof there is no effective registration statement registering, or the prospectus contained therein is not available for, the issuance of the Common Warrant Shares to the holder. The Pre-funded Warrants may be exercised on a cashless basis at any time.

A holder of the Warrants and the Pre-funded Warrants (together with its affiliates) may not exercise any portion of the Warrant or Pre-funded Warrant to the extent that the holder would own more than 4.99% (or 9.99%, at the election of the holder) of the outstanding common shares immediately after exercise, except that upon at least 61 days’ prior notice from the holder to the Company, the holder may increase the amount of beneficial ownership of outstanding shares after exercising the holder’s Warrants or Pre-funded Warrants up to 9.99% of the number of the Company’s common shares outstanding immediately after giving effect to the exercise.

The Common Units, the Pre-funded Units, the common shares comprising the Common Units, the Warrants, the Pre-funded Warrants, the Placement Agent Warrants, the Pre-funded Warrant Shares, the Common Warrant Shares and the common shares underlying the Placement Agent Warrants were offered and sold by the Company pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-292388), filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “Securities Act”) on December 23, 2025, and declared effective by the SEC on January 13, 2026 (the “Registration Statement”), together with the Company’s Registration Statement on Form S-1 (File. No. 333-292716) filed by the Company with the SEC on January 13, 2026, that became automatically effective pursuant to Rule 462(b) promulgated by the SEC under the Securities Act.

On January 15, 2026, the Company also entered into a Warrant Agent Agreement (the “Warrant Agent Agreement”) with Computershare Inc. and Computershare Trust Company, N.A. (“Computershare”), pursuant to which Computershare agreed to act as transfer agent with respect to the Warrants. A copy of the Warrant Agent Agreement has been filed as Exhibit 10.1 to this Current Report on Form 8-K (this “Form 8-K”), and is incorporated herein by reference.

The foregoing does not purport to be a complete description of each of the Warrants, Pre-funded Warrants and Placement Agent Warrants, and is qualified in its entirety by reference to the full text of each of such document, which are filed as Exhibits 4.1, 4.2 and 4.3 respectively, to this Form 8-K and incorporated herein by reference.

The Placement Agency Agreement

In connection with the offering, on January 13, 2026, the Company entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with ThinkEquity LLC (the “Placement Agent”), pursuant to which the Company agreed to issue and sell directly to investors, in a best efforts basis the Common Units and the Pre-funded Units. As part of its compensation for acting as Placement Agent for the Offering, the Company paid the Placement Agent a cash fee of 6.25% of the aggregate gross proceeds.

The foregoing does not purport to be a complete description of the Placement Agency Agreement and is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 1.1 to this Form 8-K and incorporated herein by reference.

Item 8.01. Other Events

The Company issued press releases announcing the pricing and closing of the Offering on January 13, 2026, and January 15, 2026, respectively. Copies of the press releases are attached hereto as Exhibit 99.1 and Exhibit 99.2 and are incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
1.1		Placement Agency Agreement, dated as of January 13, 2026, by and between BriaCell Therapeutics Corp. and ThinkEquity LLC as Placement Agent.
4.1		Form of Common Warrant
4.2		Form of Pre-Funded Warrant
4.3		Form of Placement Agent Warrant
10.1		Warrant Agent Agreement by and among the Company, Computershare Inc. and Computershare Trust Company, N.A., dated January 15, 2026
99.1		Press Release dated January 13, 2026
99.2		Press Release dated January 15, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BRIACELL THERAPEUTICS CORP.
	/s/ William V. Williams
January 15, 2026	William V. Williams
	President and Chief Executive Officer