10:39 AM EDT, 06/20/2024 (MT Newswires) -- Tharimmune ( THAR ) said Thursday it expects to raise about $2.1 million in gross proceeds from a private placement of common shares and warrants.

The placement includes 659,545 common shares and warrants to purchase up to 329,771 common shares at $3.16 per share and accompanying warrants, according to the company.

Tharimmune ( THAR ) said the warrants can be exercised for $3.09 per share six months after issuance and expire five and a half years later.

Net proceeds will fund clinical development and working capital, the company added.

Tharimmune ( THAR ) expects to close the offering on or about Friday.

Shares of the company were up 2.5% in recent Thursday trading.

Price: 3.04, Change: +0.08, Percent Change: +2.53