Gaxos.ai Inc. Announces $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Quick Summary:

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.333-283758) filed with the Securities and Exchange Commission ("SEC”) on December 12, 2024 and became effective on December 18, 2024.

Roseland, NJ, Dec.19, 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 1,449,277 shares of its common stock at a purchase price of $3.45 per share in a registered direct offering priced at-the-market under Nasdaq rules.

The warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws.

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Article Details

Author / Journalist: GAXOS.AI INC.

Category: Technology

Markets: ChinaUnited States

Topics: Nasdaq:GXAI US62911P2011

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 13:00:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 817 words

Reading Time: 5 minutes read

Sentences: 20 lines

Sentence Length: 41 words per sentence (average)

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Copyright Owner: © GlobeNewswire

News ID: 24549200

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