TScan Therapeutics, Inc. announced that it will issue 70,136,064 series C preferred stock at a price of $1.4258 per share for gross proceeds of $100,000,000.0512 on January 15, 2021. The shares are convertible, cumulative and non-redeemable. The preferred shares will be entitled to receive fixed cumulative dividend rate of 8% per annum.

The shares will be convertible into common shares at a fixed conversion price of $1.4258 per share. The round will be raised at post money valuation of $201,054,901. The company will receive $100,000,000 pursuant to regulation D.