good catch...
The net proceeds of the offering (being $ assuming no exercise of the option to purchase additional shares) will be
used by the Corporation to: (i) advance and expand the current Phase 1 trial of SIRPaFc (TTI-621) in patients with
advanced hematologic malignancies, (ii) advance and expand the current solid tumor Phase 1 trial of SIRPaFc (TTI-
621) in patients with relapsed and refractory, percutaneously-accessible cancers through the dose escalation and
expansion phases, (iii) initiate and conduct a Phase 1 trial for TTI-622 with dose escalation and expansion phase
focused on combination treatment, and (iv) for general corporate and working capital purposes. See “Use of Proceeds”.
One of our existing shareholders has indicated an interest in purchasing Series II First Preferred Shares in this offering
at the public offering price. However, because this indication of interest is not a binding agreement or commitment to
purchase, this shareholder may elect not to purchase any shares in this offering. In connection with the potential
acquisition of Series II First Preferred Shares by this existing shareholder, we intend to enter into an investment
agreement with such shareholder. The investment agreement will provide this shareholder the right, but not the
obligation, for so long as it beneficially owns at least 10% of the adjusted share capital of the Corporation, calculated
on a fully-diluted basis, to nominate one person for election to our board of directors, subject to meeting applicable
legal and stock exchange requirements, and we have the obligation to appoint such director whose term will run until
the next annual meeting of shareholders. Thereafter, we are required to nominate such director to be a director at any
meeting of shareholders called for the purposes of electing directors and to use commercially reasonable efforts to
ensure that such director is elected to the Board of Directors, including soliciting proxies in support of his or her
election and taking the same actions taken by us to ensure the election of the other nominees selected by the Board of
Directors for election to the Board of Directors.
AI
