TC BioPharm Holdings Plc (TCBP)

[TheFinalCD]

(a) On March 27, 2023, the Company, entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”), pursuant to which at closing on March 30, 2023, the Company raised gross proceeds of $5.5 million (before agent and related offering expenses) from the sale of its equity securities; and

(b) On July 10, 2023, the Company entered into an agreement with a holder of its Series A, B and C Warrants to amend those warrants (the “Warrants”), such that the Company will account for the amended Warrants as part of stockholders’ equity, rather than as a liability. In the Company’s most recently filed financial statements, as of December 31, 2022, which were included in the Form 20-F filed by the Company on May 1, 2023, the liability relating to the Warrants amounted to approximately $7 million. This amount has therefore now been reclassified into, and thereby has increased, stockholders’ equity.


As a result of the forgoing the Company believes that, as at the date of this filing, it has stockholders’ equity well above the $2.5m minimum stockholders’ equity requirement. The Company will be presenting this information to the Panel, along with its plans to maintain compliance, for their review and acceptance.

Message in reply to:
CEO said no dilution