eXoZymes Completes $6M Offering of 330,575 Units at $8.99
EXOZ•eXoZymes closed a $6M underwritten offering of 330,575 units at $8.99 per share and $0.02 per warrant, including a 34,440-unit overallotment. Proceeds will fund N-trans-caffeoyltyramine development, additional R&D programs, and general corporate activities.
1. Offering Structure
eXoZymes issued 330,575 units, each comprising two common shares and one warrant, at $8.99 per share and $0.02 per warrant, raising approximately $5.95 million in gross proceeds. This total includes a 34,440-unit partial exercise of the overallotment option and reflects underwriting discounts and estimated expenses.
2. Warrant Terms
Each warrant grants the right to buy one share at $11.24, exercisable one year after issuance and expiring five years later. Warrants are non-exchange listed, may be redeemed under certain conditions, and feature a potential exercise-price reset to $0.001 if lower-priced stock is issued before June 5, 2027.
3. Use of Proceeds
Net proceeds are earmarked to advance development and commercialization of N-trans-caffeoyltyramine, support additional exozyme product opportunities, fund broader research and development activities, and cover working capital and general corporate purposes.
