AINewsBreaks – Gaxos.ai Inc. (NASDAQ: GXAI) Announces $3.5M Private Placement

Gaxos.ai (NASDAQ: GXAI), a company developing artificial intelligence applications across various sectors, has entered into definitive agreements for a private placement priced at-the-market under Nasdaq rules. The private placement includes the purchase and sale of an aggregate of 628,367 shares of common stock (or pre-funded warrant in lieu thereof), series A warrants to purchase up to 628,367 shares of common stock and short-term series B warrants to purchase up to 628,367 shares of common stock at a price of $5.57 per unit (or per pre-funded warrant in lieu thereof) and accompanying warrants. The series A warrants and short-term series B warrants will have an exercise price of $5.50 per unit and will be exercisable upon issuance.

The private placement is expected to close on or about March 15, 2024, subject to the satisfaction of customary closing conditions. It is anticipated to raise gross proceeds of approximately $3.5 million before deductions, with Gaxos planning to use the net proceeds for working capital and other general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

To view the full press release, visit https://ibn.fm/1Edno

About Gaxos.ai Inc.

Gaxos.ai isn’t just developing applications; it’s redefining the human-AI relationship. The company’s offerings span health and wellness as well as gaming. Gaxos.ai is committed to addressing health, longevity, and entertainment, through AI solutions. For more information about the company, visit www.gaxos.ai.

About AINewsWire

AINewsWire (“AINW”) is a specialized communications platform with a focus on the latest advancements in artificial intelligence (“AI”), including the technologies, trends and trailblazers driving innovation forward. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, AINW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, AINW brings its clients unparalleled recognition and brand awareness.

AINW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from AINewsWire, text “AI” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit www.AINewsWire.com

Please see full terms of use and disclaimers on the AINewsWire website applicable to all content provided by AINW, wherever published or re-published: https://www.AINewsWire.com/Disclaimer

AINewsWire
Los Angeles, CA
www.AINewsWire.com
310.299.1717 Office
Editor@AINewsWire.com

AINewsWire is powered by IBN