Core Viewpoint - Gaxos.ai Inc. has announced a registered direct offering of 1,449,277 shares of common stock at a price of $3.45 per share, along with a concurrent private placement of unregistered warrants to purchase the same number of shares at an exercise price of $3.32 per share [1][2]. Group 1: Offering Details - The total gross proceeds from the offering are expected to be approximately $5 million before deducting fees and expenses [2]. - The closing of the offering is anticipated to occur on or about December 20, 2024, subject to customary closing conditions [1]. - The shares are being offered under a shelf registration statement that became effective on December 18, 2024 [3]. Group 2: Use of Proceeds - The company intends to use the net proceeds from the offering for working capital and other general corporate purposes [2]. Group 3: Warrants Information - The warrants will be exercisable upon issuance and will expire three years after the date of issuance [1]. - The warrants and the underlying shares of common stock have not been registered under the Securities Act and may not be offered or sold in the U.S. without an effective registration statement or applicable exemption [4]. Group 4: Company Overview - Gaxos.ai is focused on developing artificial intelligence applications across various sectors, including health, wellness, and gaming, aiming to redefine the human-AI relationship [6].
Gaxos.ai Inc. Announces $5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules