TNFA News & Events

TNF Pharmaceuticals announced that it has changed its corporate name to Q/C Technologies and will begin trading under the new ticker symbol (QCLS) on Nasdaq, effective as of the market open on Thursday, September 25. Until then, the company's common stock will continue to trade under its current ticker symbol (TNFA). The company also noted that it continues to evaluate strategic options for its legacy therapeutic programs, isomyosamine and Supera-CBD.

TNF Pharmaceuticals announced that it received written notice from Nasdaq on September 16, confirming that the company has regained compliance with Nasdaq's $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550. To regain compliance with the listing rule, the company's shares maintained the minimum bid price of $1.00 for 10 consecutive business days.

PharmaCyte Biotech (PMCB) announced that it has increased its stake in TNF Pharmaceuticals (TNFA) by an additional $3M. The company does so to help support TNF's recent acquisition of a license with LightSolver. The license is for its revolutionary processing accelerator designed to expedite compute-sensitive computations by harnessing light for computation. This method is designed to reduce energy output by 90% while outpacing conventional graphics processing units, quantum computing and high-performance computing with greater speed and more efficiency. TNF is expected to change its name and ticker symbol to support the new strategy, which it expects to be applied to cryptocurrency mining and blockchain.

TNF also announced that it has entered into a securities purchase agreement for a $7M private placement financing, including the company's largest strategic stockholder and other existing stockholders, involving the sale of 7,000 shares of its newly created Series H convertible preferred stock, with a stated value of $1,000 per share, convertible into shares of its common stock following receipt of the requisite stockholder approval and accompanying common stock purchase warrants, which is expected to close on or about September 4, subject to the satisfaction of customary closing conditions. The shares of preferred stock have an initial conversion price of $5.00 per share. The warrants are exercisable following the receipt of the requisite stockholder approval, have an initial exercise price of $5.00 per share and expire five years from the date of stockholder approval. The securities in the private placement were offered and sold in transactions exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4 of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. This press release is not an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. TNF continues to evaluate strategic, value-enhancing options for its legacy therapeutic platforms, including its oral TNF-alpha inhibitor and Supera-CBD, as part of its ongoing commitment to maximizing shareholder value. Rodman & Renshaw, LLC, H.C. Wainwright & Co. and GP Nurmenkari Inc. are acting as placement agents on the transaction.