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Tharimmune (NASDAQ:THAR) has secured a $2.02 million private placement through a securities purchase agreement. The deal includes issuing 961,446 shares of common stock at $2.10 per share, along with warrants to purchase up to 480,723 additional shares at $2.031 per share. The warrants will be exercisable after six months and expire in 5.5 years.
The financing was led by Gravitas Capital and SDS Capital Group, with President Street Global serving as the exclusive placement agent. The net proceeds will support clinical development, particularly the TH104 program targeting chronic pruritus in primary biliary cholangitis (PBC), and general working capital. The transaction is expected to close around December 9, 2024.
Tharimmune (NASDAQ:THAR) ha assicurato un collocamento privato di 2,02 milioni di dollari tramite un accordo di acquisto di titoli. L’accordo prevede l’emissione di 961.446 azioni ordinarie a 2,10 dollari per azione, insieme a warrant per l’acquisto di ulteriori 480.723 azioni a 2,031 dollari per azione. I warrant saranno esercitabili dopo sei mesi e scadranno tra 5,5 anni.
Il finanziamento è stato guidato da Gravitas Capital e SDS Capital Group, con President Street Global in qualità di agente di collocamento esclusivo. I proventi netti supporteranno lo sviluppo clinico, in particolare il programma TH104 che mira a prurito cronico nella colangite biliare primaria (PBC), e il capitale circolante generale. La transazione dovrebbe chiudersi intorno al 9 dicembre 2024.
Tharimmune (NASDAQ:THAR) ha asegurado un colocación privada de 2.02 millones de dólares a través de un acuerdo de compra de valores. El acuerdo incluye la emisión de 961,446 acciones comunes a 2.10 dólares por acción, junto con warrants para comprar hasta 480,723 acciones adicionales a 2.031 dólares por acción. Los warrants serán ejercitables después de seis meses y caducan en 5.5 años.
El financiamiento fue liderado por Gravitas Capital y SDS Capital Group, con President Street Global actuando como agente de colocación exclusivo. Los ingresos netos apoyarán el desarrollo clínico, particularmente el programa TH104 que se dirige al prurito crónico en colangitis biliar primaria (PBC), y el capital de trabajo general. Se espera que la transacción se cierre alrededor del 9 de diciembre de 2024.
Tharimmune (NASDAQ:THAR)는 증권 구매 계약을 통해 202만 달러의 사모펀드를 확보했습니다. 이 거래에는 주당 2.10달러로 961,446주를 발행하고, 주당 2.031달러로 추가 480,723주를 구매할 수 있는 워런트가 포함됩니다. 워런트는 6개월 후 행사할 수 있으며 5.5년 후 만료됩니다.
이번 자금 조달은 Gravitas Capital과 SDS Capital Group이 주도했으며, President Street Global이 독점 배치 대리인으로 참여했습니다. 순수익은 만성 가려움증을 타겟으로 하는 TH104 프로그램과 일반 운영 자본 지원을 위해 사용될 것입니다. 거래는 2024년 12월 9일경 마무리될 것으로 예상됩니다.
Tharimmune (NASDAQ:THAR) a sécurisé un placement privé de 2,02 millions de dollars par le biais d’un accord d’achat de titres. L’accord comprend l’émission de 961 446 actions ordinaires à 2,10 dollars par action, ainsi que des bons de souscription permettant d’acheter jusqu’à 480 723 actions supplémentaires à 2,031 dollars par action. Les bons peuvent être exercés après six mois et expirent dans 5,5 ans.
Le financement a été dirigé par Gravitas Capital et SDS Capital Group, avec President Street Global agissant en tant qu’agent de placement exclusif. Les produits nets serviront à soutenir le développement clinique, en particulier le programme TH104 qui vise à traiter le prurit chronique dans la cholangite biliaire primitive (PBC), et à financer le fonds de roulement général. La transaction devrait se conclure autour du 9 décembre 2024.
Tharimmune (NASDAQ:THAR) hat eine Privatplatzierung in Höhe von 2,02 Millionen US-Dollar durch einen Wertpapierkaufvertrag gesichert. Die Vereinbarung umfasst die Ausgabe von 961.446 Stammaktien zu je 2,10 US-Dollar pro Aktie sowie Warrants zum Kauf von bis zu 480.723 zusätzlichen Aktien zu je 2,031 US-Dollar pro Aktie. Die Warrants können nach sechs Monaten ausgeübt werden und verfallen in 5,5 Jahren.
Die Finanzierung wurde von Gravitas Capital und SDS Capital Group geleitet, wobei President Street Global als exklusiver Platzierungsagent fungiert. Der Nettoerlös wird die klinische Entwicklung unterstützen, insbesondere das Programm TH104, das auf chronischen Juckreiz bei primärer biliärer Cholangitis (PBC) abzielt, sowie das allgemeine Betriebskapital. Der Abschluss der Transaktion wird um den 9. Dezember 2024 erwartet.
Positive
- Secured $2.02 million in new funding
- Strategic investment from biotechnology-focused investors
- Funds allocated to advance clinical development of TH104 program
Negative
- Potential dilution for existing shareholders through new share issuance
- Additional dilution possible through warrant exercise
- Securities not immediately tradeable due to registration requirements
Insights
The $2.02 million private placement, while providing needed capital, represents a relatively modest raise for a clinical-stage biotech company. The deal structure at $2.10 per share with warrants at $2.031 suggests significant dilution potential, especially considering the company’s small $3 million market cap. The participation of Gravitas Capital and SDS Capital Group adds credibility, but the warrant terms, exercisable after six months, could create selling pressure. The focus on TH104 for chronic pruritus in PBC represents a niche market opportunity, though the funding may only support minimal clinical development progress. This financing appears more like a bridge than a substantial catalyst for program advancement.
The funding allocation towards TH104’s development program for chronic pruritus in primary biliary cholangitis (PBC) targets an underserved market. PBC affects primarily women and has treatment options for associated pruritus, which significantly impacts quality of life. However, the $2.02 million raise, after deducting expenses, provides minimal runway for meaningful clinical development in this space, where trials typically require substantial capital. The company will likely need additional financing rounds to achieve significant clinical milestones. The involvement of biotech-focused investors suggests some confidence in the therapeutic approach, but the modest size of the investment indicates cautious optimism rather than strong conviction.
BRIDGEWATER, NEW JERSEY / ACCESSWIRE / December 6, 2024 / Tharimmune, Inc. (Nasdaq:THAR) (“Tharimmune” or the “Company”), a clinical-stage biotechnology company committed to pioneering therapies in immunology and inflammation, today announced it has entered into a securities purchase agreement to raise gross proceeds of approximately $2.02 million through a private placement.
The agreement includes the issuance of 961,446 shares of common stock (or common stock equivalents) and warrants to purchase up to an additional 480,723 shares of common stock. Each share (or common stock equivalent) is priced at $2.10 and is accompanied by a warrant. The warrants will have an exercise price of $2.031 per share, becoming exercisable six months after issuance and expiring five and one-half years from the date of issuance. The closing of this transaction is expected on or about December 9, 2024, subject to customary closing conditions.
Strategic Investors and Placement Details
The financing was led by Gravitas Capital and SDS Capital Group, alongside other biotechnology-focused private investors. President Street Global served as the exclusive placement agent for the offering, ensuring seamless execution of the transaction.
After deducting placement agent fees and other offering-related expenses, the Company intends to allocate the net proceeds toward clinical development, including advancing its flagship TH104 development program, as well as general working capital.
Advancing Innovation in Biotechnology
This financing reinforces Tharimmune’s commitment to advancing its portfolio of therapeutic candidates. TH104, the Company’s lead clinical asset, is designed to address chronic pruritus associated with primary biliary cholangitis (PBC), a rare and challenging autoimmune liver disease.
Regulatory Details
The securities in this private placement were offered under Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D thereunder. The shares of common stock and underlying warrants are not registered under the Securities Act or state securities laws. The Company has agreed to file a resale registration statement covering these securities to enable their future trading upon registration or qualification under applicable laws.
About Tharimmune
Tharimmune, Inc. is a clinical-stage biotechnology company focused on developing innovative therapies in immunology, inflammation, and oncology. The Company’s lead product candidate, TH104, leverages a unique transdermal buccal film technology designed to address inflammatory conditions, including pruritus associated with PBC. Tharimmune is also advancing TH023, an oral TNF-alpha inhibitor, and exploring novel multi-specific biologics targeting solid tumors. Through a licensing agreement with OmniAb, Inc., the Company harnesses cutting-edge antibody discovery platforms to target specified disease markers. Learn more at www.tharimmune.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding the timing and design of Tharimmune’s future Phase 2 trial, Tharimmune’s strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “depends,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “target,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Factors that may cause such differences, include, but are not limited to, those discussed under Risk Factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 and other periodic reports filed by the Company from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this release. Subsequent events and developments may cause the Company’s views to change; however, the Company does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.
Contact Information
Tharimmune, Inc.
ir@tharimmune.com
Alliance Advisors IR
Tirth T. Patel
tpatel@allianceadvisors.com
212-201-6614
SOURCE: Tharimmune, Inc.
View the original press release on accesswire.com
FAQ
How much did Tharimmune (THAR) raise in their December 2024 private placement?
Tharimmune raised gross proceeds of approximately $2.02 million through a private placement announced on December 6, 2024.
What is the share price and warrant structure in Tharimmune’s (THAR) December 2024 private placement?
The shares were priced at $2.10 with accompanying warrants exercisable at $2.031 per share. The warrants become exercisable after six months and expire in 5.5 years.
What will Tharimmune (THAR) use the December 2024 private placement proceeds for?
The net proceeds will be used for clinical development, particularly advancing the TH104 development program, and general working capital.
