Crossject Raises 15 Million Euros to Accelerate Development of Zepizure
Crossject announced on Friday the successful completion of a capital increase and the issuance of warrants for a total amount of 15 million euros. This funding aims to support the continued regulatory development of Zepizure, its injectable for epileptic seizures, and to prepare for the ramp-up of industrial production.
Funding Structured in Two Parts
The operation is based on the issuance of 6.4 million new shares at 1.704 euros each, representing 10.8% of the share capital, and on the simultaneous issuance of 6.4 million share subscription warrants (BSA) at 0.626 euro. The total subscription price per unit amounts to 2.33 euros. The BSAs entitle their holders to subscribe to 5 ordinary shares for every 4 warrants, at an exercise price of 2.68 euros per share. If all the BSAs are exercised, the company could receive an additional contribution of up to 21.6 million euros. The warrants can be exercised over a three-year period from their issuance.
Timeline and Use of Funds
The settlement-delivery of the new shares is scheduled for May 26, 2026. The funds will be allocated to the continuation of regulatory development activities for Zepizure, including the next steps in the EUA (Emergency Use Authorization) process, as well as investments and preparatory work necessary for the ramp-up of industrial capacities throughout 2026. A portion will also be used for the general needs of the company and to strengthen its equity. Maxim Group LLC acted as the exclusive placement agent. Crossject has committed not to issue any additional securities for 90 calendar days, subject to customary exceptions. Members of the management board and supervisory board have agreed to a lock-up commitment of the same duration.
