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

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The shares of common stock (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) were 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.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.

The warrants described above were 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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Author / Journalist: GAXOS.AI INC.

Category: Technology

Markets: ChinaUnited States

Topics: US62911P2011 Nasdaq:GXAI

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-20 @ 21:51:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

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Sentences: 18 lines

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