On November 15, 2023, Cartesian Therapeutics, Inc. closed the transaction. The company issued 149,330 shares of Series A Preferred Stock for an aggregate purchase price of $403.46851 per share for a gross proceeds of $60,249,953. In the Financing, each of TAS and Springer agreed to settle its purchases in three approximately equal tranches of shares of Series A Preferred Stock, each for a purchase price of approximately $20,000,000, with the three tranches settling 30, 60, and 90 days, respectively, following the Closing.

TAS, Springer and Seven One Eight Three Four Irrevocable Trust each purchased their respective PIPE Securities at the same offering price per share. The investor purchased 619.627 shares of Series A Preferred Stock for an aggregate purchase price of $249,999.98.