Neutral
GlobeNewsWire
10 months ago
Gaxos.ai Inc. Announces $4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Roseland, NJ, Dec. 27, 2024 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (Nasdaq: GXAI), (“Gaxos” or the “Company”), a company developing artificial intelligence applications across various sectors, today announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 1,346,669 shares of its common stock at a purchase price of $3.00 per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 1,346,669 shares of common stock. The warrants will have an exercise price of $3.00 per share, will be exercisable upon issuance and expire three years following the date of issuance. The closing of the offering is expected to occur on or about December 30, 2024, subject to the satisfaction of customary closing conditions.