Gaxos.ai Inc. Announces $4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Summary
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 Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. Investors can identify these forward-looking statements by words or phrases such as may, will, expect, anticipate, aim, estimate, intend, plan, believe, potential, continue, is/are likely to or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.