eXoZymes (EXOZ) Closes $6M Public Stock Offering

This summary was generated by AI from the company's SEC filing and may contain errors — always verify against the primary source on SEC.gov.

The short version

eXoZymes Inc. (NASDAQ: EXOZ) announced on June 17, 2026 that it has closed an underwritten public offering — a stock sale managed by an investment bank — of common stock and warrants, raising approximately $5.95 million in gross proceeds before underwriting fees and other expenses. The offering consisted of 330,575 units, each containing two shares of common stock and one warrant (a right to buy more shares later). The company plans to use the money mainly to develop and commercialize its NCT product, fund research, and cover general operating costs.

eXoZymes Inc. (NASDAQ: EXOZ), a Los Angeles-based biotech that uses AI-enhanced enzymes to make nutraceuticals and medicines, closed a public offering (a sale of new shares to outside investors) on June 17, 2026, raising about $5.95 million in gross proceeds before fees.

What Was Sold

The company sold 330,575 units — including 34,440 units from a partial exercise of an over-allotment option (an option that lets the underwriter buy extra shares if investor demand is strong). Each unit consisted of:

Two shares of common stock priced at $8.99 per share
One warrant (a certificate giving the holder the right to buy one more share later) priced at $0.02

About the Warrants

The warrants cannot be used for one year from the date they were issued. After that, holders can use them to buy one share of EXOZ at $11.24 per share. The warrants expire five years from their issuance date and are not listed on any stock exchange, meaning they cannot be easily traded.

One important condition: if eXoZymes sells additional shares or convertible securities (securities that can be turned into shares) at a price below $8.99 per share in any public or private deal before June 5, 2027, the warrant exercise price would drop all the way to $0.001 per share — a so-called price-reset provision that protects warrant holders against dilution at a lower price.

How the Money Will Be Used

According to the filing, eXoZymes intends to use the net proceeds (the money left after fees) for:

Development and commercialization of N-trans-caffeoyltyramine (NCT), a compound the company is advancing
Additional product opportunities
Research and development
Working capital and general corporate purposes

Deal Details

MDB Capital served as the sole book-running manager (the investment bank that ran the deal). The offering was made under a shelf registration statement (a pre-approved filing that allows a company to sell securities over time) on Form S-3, declared effective by the SEC on January 23, 2026. A final prospectus supplement describing the offering's terms was filed with the SEC on June 8, 2026.

Key facts

eXoZymes Inc. (NASDAQ: EXOZ) closed a public offering on June 17, 2026

Gross proceeds of approximately $5.95 million before underwriting discounts, commissions, and expenses

330,575 units sold, including 34,440 units from partial over-allotment exercise

Each unit: two shares of common stock at $8.99/share + one warrant at $0.02

Warrants exercisable after one year at $11.24/share; expire five years from issuance

Warrant exercise price resets to $0.001 if EXOZ sells shares below $8.99 before June 5, 2027

Proceeds earmarked for NCT development/commercialization, R&D, and general corporate purposes

MDB Capital was sole book-running manager

Offering made under Form S-3 shelf registration (File No. 333-292781), effective January 23, 2026

Why it matters

This offering raises fresh capital for eXoZymes at a relatively modest scale (~$5.95 million gross), suggesting the company is in an early, cash-consuming stage. The warrant reset clause — which would slash the exercise price from $11.24 to $0.001 if EXOZ raises money below $8.99/share before June 2027 — signals meaningful dilution risk if the company needs to raise additional funds at a lower price within that window. Existing shareholders should note that this offering itself increases the share count, and the warrants represent further potential dilution once they become exercisable in a year.

Frequently asked

How much money did eXoZymes raise in this offering?

eXoZymes raised approximately $5.95 million in gross proceeds before deducting underwriting discounts, commissions, and other offering expenses.

What are the warrants included in this offering?

Each unit included one warrant giving the holder the right to buy one share of EXOZ at $11.24 per share. The warrants become usable one year after they were issued and expire five years from that issuance date. They are not listed on any stock exchange.

What will eXoZymes do with the money raised?

According to the filing, the company plans to use the proceeds to develop and commercialize its NCT product, advance other product opportunities, fund research and development, and cover general operating costs.

What is the warrant price-reset clause?

If eXoZymes sells additional shares or convertible securities at a price below $8.99 per share — in any public or private deal — before June 5, 2027, the warrant exercise price automatically drops to $0.001 per share.

What the filing reported

1.01 Entry into a Material Agreement

7.01 Regulation FD Disclosure

9.01 Financial Statements & Exhibits