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Gaxos.ai Inc. Announces Closing of $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Friday, 20th December at 4:51 pm
Roseland, NJ, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (NASDAQ: GXAI), ("Gaxos" or the "Company"), a company developing artificial intelligence applications across various sectors, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 1,449,277 shares of its common stock at a purchase price of $3.45 per share. In addition, in a concurrent private placement, the Company issued unregistered warrants to purchase up to 1,449,277 shares of common stock. The warrants have an exercise price of $3.32 per share, are exercisable upon issuance and expire three years following the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The aggregate gross proceeds to the Company from the offering were approximately $5 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
Friday, 20th December at 4:51 pm
Roseland, NJ, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Gaxos.ai Inc. (NASDAQ: GXAI), ("Gaxos" or the "Company"), a company developing artificial intelligence applications across various sectors, today announced the closing of its previously announced registered direct offering priced at-the-market under Nasdaq rules for the purchase and sale of an aggregate of 1,449,277 shares of its common stock at a purchase price of $3.45 per share. In addition, in a concurrent private placement, the Company issued unregistered warrants to purchase up to 1,449,277 shares of common stock. The warrants have an exercise price of $3.32 per share, are exercisable upon issuance and expire three years following the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The aggregate gross proceeds to the Company from the offering were approximately $5 million, before deducting the placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.
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