11:24 AM EST, 11/27/2024 (MT Newswires) -- TransCode Therapeutics ( RNAZ ) said Wednesday it has signed a deal with certain institutional investors for a securities' sale worth roughly $8 million.

The sale, which is expected to close Friday, includes about 21.2 million common shares, series C warrants to purchase about 21.2 million common shares, and series D warrants to purchase about 21.2 million common shares.

Net proceeds will be allocated towards working capital and general corporate purposes, the company said.

Shares of TransCode Therapeutics ( RNAZ ) fell more than 9% in recent trading activity.

Price: 0.34, Change: -0.04, Percent Change: -9.81