Tharimmune, Inc. (NASDAQ:THAR) ("Tharimmune" or the "Company"), a clinical-stage biotechnology company developing a portfolio of therapeutic candidates for rare, inflammatory, and oncologic conditions, today announced the pricing of an underwritten public offering of 10,000,000 shares of common stock (or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof). Each share of common stock (or Pre-Funded Warrant) is being sold at a public offering price of $1.00 per share (inclusive of the Pre-Funded Warrant exercise price) for gross proceeds of $10,000,000, before deducting underwriting discounts and offering expenses. All of the shares of common stock and Pre-Funded Warrants are being offered by the Company. In addition, Tharimmune has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of common stock and/or Pre-Funded Warrants to cover over-allotments at the public offering price, less the underwriting discount.
The Company intends to use the net proceeds for the advancement of TH104's phase 2 trial expected in 2024, as well as for working capital and other general corporate purposes. The Company may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies or products, however, the Company has no current commitments or obligations to do so.
The offering is expected to close on November 30, 2023, subject to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-275350) relating to the shares was filed with the Securities and Exchange Commission ("SEC") and became effective on November 27, 2023. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tharimmune, Inc.
Tharimmune, Inc. is a clinical-stage biotechnology company developing a portfolio of therapeutic candidates for rare, inflammatory, and oncologic diseases. The Company has acquired an exclusive worldwide license for a clinical-stage asset, known to suppress chronic, debilitating pruritis or "uncontrollable itching" in PBC, a rare and orphan liver disease with no known cure. The Company's early-stage immuno-oncology pipeline includes novel multi-specific antibodies targeting unique epitopes with novel mechanisms of action against well-known, validated targets in multiple solid tumors. Tharimmune has a license agreement with OmniAb, Inc. to access the company's antibody discovery technology platform against specified targets.
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