Roseland, NJ, December 20, 2024 (GLOBE NEWSWIRE) — Gaxos.ai Inc. (Nasdaq: GXAI), (Gaxos or the Firm), an organization growing synthetic intelligence purposes throughout numerous industries, in the present day introduced the closing of its earlier introduced a registered direct providing at market value below the principles of Nasdaq for the acquisition and sale of an combination of 1,449,277 shares of widespread inventory on the buy value of $3.45 per share. Moreover, in reference to a concurrent personal placement, the Firm issued unregistered warrants to buy as much as 1,449,277 shares of widespread inventory. The warrants have an train value of $3.32 per share, are exercisable upon issuance and expire three years from the date of issuance.
HC Wainwright & Co. acted as unique placement agent for the position.
The combination gross proceeds of the providing to the Firm have been roughly $5 million, earlier than deducting placement agent charges and different providing bills payable by the Firm. The Firm intends to make use of the online proceeds from the providing for its working capital and different common company functions.
The shares of Frequent Inventory (however not the warrants issued in reference to the Personal Placement or the shares of Frequent Inventory underlying such warrants) have been supplied by the Firm pursuant to a shelf registration assertion on Kind S-3 ( File No. 333-283758) filed with the Securities and Alternate Fee (SEC) on December 12, 2024 and have become efficient on December 18, 2024. The registered direct providing of the widespread inventory was accomplished solely via a prospectus, together with a prospectus complement, forming a part of the efficient registration assertion. The prospectus complement and accompanying prospectus regarding the shares of widespread inventory supplied within the registered direct providing have been filed with the SEC and will be discovered on the SEC’s web site at www.sec. gov. Digital copies of the prospectus complement and accompanying prospectus regarding the registered direct providing may additionally be obtained by contacting HC Wainwright & Co., LLC at 430 Park Avenue, third Flooring, New York, NY 10022, by phone at (212) 856. -5711 or by electronic mail at placements@hcwco.com.
The warrants described above have been issued in a concurrent personal placement pursuant to Part 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act), and the Regulation D promulgated thereunder and along with the underlying widespread inventory the warrants haven’t been registered below the Securities Act or relevant state securities legal guidelines. Accordingly, the warrants and the underlying widespread shares might not be supplied or bought in america, besides pursuant to an efficient registration assertion or an relevant exemption from the registration necessities of the Securities Act and relevant state securities legal guidelines.
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase any of the securities described herein, nor shall there be any sale of those securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal. previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Gaxos.ai Inc.
Gaxos.ai would not simply develop purposes; its objective is to redefine the human-AI relationship. Our choices are expanded to incorporate well being and wellness, in addition to gaming. We’re dedicated to addressing well being, longevity and leisure via AI options.
Ahead-looking statements
All statements apart from statements of historic truth contained on this launch are forward-looking statements that contain identified and unknown dangers and uncertainties and are primarily based on present expectations and projections relating to future occasions and monetary developments that the Firm believes , might have an effect on its monetary scenario and its outcomes. operations, enterprise technique and monetary necessities and are topic to market and different situations. Traders can establish these forward-looking statements by phrases or expressions equivalent to could, will, anticipate, anticipate, intention, estimate, intend, plan, imagine, potential, proceed, is/are prone to or different related expressions. Ahead-looking statements embody statements relating to using proceeds of the providing. The Firm undertakes no obligation to replace any forward-looking statements to replicate subsequent occasions or circumstances, or adjustments in its expectations, besides as required by regulation. Though the Firm believes that the expectations expressed in such forward-looking statements are cheap, it can not guarantee you that such expectations will show to be appropriate, and the Firm cautions buyers that precise outcomes could differ materially from anticipated outcomes and encourages buyers to debate different components which will have an effect on its future leads to the corporate’s filings with the SEC.
Firm contact Gaxos.ai Inc.
Investor Relations
E: ir@gaxos.ai
Such. : 1-888-319-2499
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