AINewsBreaks – Gaxos.ai Inc. (NASDAQ: GXAI) Closes $3.6 Million Warrant Exercise
Gaxos.ai (NASDAQ: GXAI), a company developing artificial intelligence applications across various high-growth sectors, announced the closing of its previously announced exercise of outstanding warrants to purchase up to 3,007,654 shares of common stock at a reduced exercise price of $1.20 per share. The transaction generated approximately $3.6 million in gross proceeds before placement agent fees and other offering expenses, with H.C. Wainwright & Co. acting as exclusive placement agent. In consideration for the cash exercise, Gaxos issued new unregistered warrants to purchase up to 6,015,308 shares at an exercise price of $0.95 per share. The company intends to use the…