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InvestorNewsBreaks – Gaxos.ai Inc. (NASDAQ: GXAI) Announces $3.5M Private Placement
March 14, 2024

InvestorNewsBreaks – Gaxos.ai Inc. (NASDAQ: GXAI) Announces $3.5M Private Placement

Gaxos.ai (NASDAQ: GXAI), a company developing artificial intelligence applications across various sectors, has entered into definitive agreements for a private placement priced at-the-market under Nasdaq rules. The private placement includes the purchase and sale of an aggregate of 628,367 shares of common stock (or pre-funded warrant in lieu thereof), 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 at a price of $5.57 per unit (or per pre-funded warrant in lieu thereof) and accompanying warrants. The series A warrants and short-term series B warrants will have an exercise price of $5.50 per unit and will be exercisable upon issuance.

The private placement is expected to close on or about March 15, 2024, subject to the satisfaction of customary closing conditions. It is anticipated to raise gross proceeds of approximately $3.5 million before deductions, with Gaxos planning to use the net proceeds for working capital and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

To view the full press release, visit https://ibn.fm/1Edno

About Gaxos.ai Inc.

Gaxos.ai isn’t just developing applications; it’s redefining the human-AI relationship. The company’s offerings span health and wellness as well as gaming. Gaxos.ai is committed to addressing health, longevity, and entertainment, through AI solutions. For more information about the company, visit www.gaxos.ai.

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