CROSSJECT Completes €5 Million Financing Deal with Vatel Capital

CROSSJECT, a specialty pharmaceuticals company based in Dijon, has secured €5 million in funding through convertible bonds issued to Vatel Capital. These bonds, carrying annual interest rates between 7.5% and 9.5%, will mature over three to five years. The conversion price is set at €2.65, offering a conversion premium over recent average share prices. This deal could potentially create up to 1,886,790 new shares, accounting for 3.52% of CROSSJECT's share capital.

The proceeds of this financing will primarily support the development and registration of ZEPIZURE®, aimed at treating epileptic seizures, and facilitate the company's broader research and development activities. The funding aligns with CROSSJECT's efforts in collaboration with the US BARDA to secure regulatory approvals in the U.S.