Gaxos.ai inc. announces closing of $3.5 million private placement priced at-the-market under nasdaq rules

Roseland, nj, march 15, 2024 (globe newswire) -- gaxos.ai inc. (nasdaq: gxai), (“gaxos” or the “company”), a company developing artificial intelligence applications across various sectors, announced today that it has closed its previously announced private placement for the purchase and sale 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 purchase price of $5.57 per share (or per pre-funded warrant in lieu thereof) and accompanying warrants priced at-the-market under nasdaq rules. the series a warrants and short-term series b warrants have an exercise price of $5.50 per share and are exercisable immediately upon issuance. the series a warrants expire five and one-half years from the date of issuance and short-term series b warrants expire twenty-four months from the date of issuance.
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