BriaCell Therapeutics Corp. 8-K

What Happened
BriaCell Therapeutics Corp. announced it closed a public offering on January 15, 2026, selling 4,327,530 common units and 1,039,196 pre‑funded units for $5.59 and $5.589 per unit, respectively, raising approximately $30.0 million in gross proceeds (before placement agent fees and offering expenses). The company issued accompanying five‑year warrants (ticker for the warrants: BCTXL) and also granted placement agent warrants. BriaCell filed a Warrant Agent Agreement with Computershare and press releases announcing pricing and closing.

Key Details

• Units sold: 4,327,530 Common Units and 1,039,196 Pre‑funded Units.
• Pricing and proceeds: $5.59 per Common Unit, $5.589 per Pre‑funded Unit; aggregate gross proceeds ≈ $30.0M (before fees/expenses).
• Warrants: Each Common Unit includes a Warrant exercisable for one common share at $6.93, immediately exercisable for five years; Warrants began trading on Nasdaq under symbol “BCTXL” on January 14, 2026.
• Pre‑funded warrants: Immediately exercisable at $0.001 per share until fully exercised; may be exercised on a cashless basis at any time.
• Placement agent: ThinkEquity LLC; placement agent received a cash fee equal to 6.25% of gross proceeds and was issued Placement Agent Warrants to purchase up to 161,001 common shares at $8.385 (immediately exercisable; expire Jan 13, 2031).
• Ownership limits: Warrant exercises are subject to anti‑dilution adjustments and a 4.99% ownership blocker (expandable to 9.99% at holder’s election with notice).

Why It Matters
This financing provides BriaCell with near‑term capital to fund working capital, general corporate purposes and advance its business programs. For investors, the offering dilutes existing shareholders (new shares and potential warrant exercises) but also extends the company’s cash runway. Key items to watch: net proceeds after fees, any future warrant exercises (which can increase share count), and how management deploys the funds to drive clinical or business milestones.