March 13, 2024
Gaxos.ai Inc., based in Roseland, New Jersey, has announced the closing of a $3.5 million private placement. The company, which trades under the ticker symbol GXAI on NASDAQ, issued 628,367 shares of common stock (or pre-funded warrants), series A warrants to purchase up to 628,367 shares of common stock, and short-term series B warrants to purchase up to 628,367 shares of common stock. The shares and warrants were priced at-the-market under Nasdaq rules at $5.57 per share (or per pre-funded warrant).
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Mar 13, 2024 | $3.5M | Post-IPO Equity | $3.5M | AI |
The series A warrants have an exercise price of $5.50 per share and expire five and one-half years from the date of issuance, while the short-term series B warrants also have an exercise price of $5.50 per share but expire twenty-four months from the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent for this offering. The gross proceeds from this placement were $3.5 million, before deducting placement agent fees and other offering expenses. Gaxos intends to use the net proceeds for working capital and general corporate purposes.
The securities were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation D, and have not been registered under the Securities Act or applicable state securities laws. Therefore, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from registration requirements.
About Gaxos.ai Inc.:
Gaxos.ai Inc. is developing artificial intelligence applications across various sectors, with a focus on health, wellness, and gaming. The company's goal is to redefine the human-AI relationship through its offerings, which include AI solutions for health, longevity, and entertainment. Gaxos.AI also operates a digital gaming platform where users can play games using non-fungible tokens (NFTs).
Website: https://gaxos.ai/
X Account: https://x.com/gaxos_ai
X Followers today: 99
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